The Global Doors Market Anticipated to Register a Revenue of $1,64,128.8 Million, Growing at a CAGR of 4.5% from 2021 to 2028 - Research DiveDownload Sample Reports Overview
The global doors market size is projected to rise from $1,15,636.4 million in 2020 to $1,64,128.8 million by 2028, at a remarkable CAGR of 4.5%.
Covid-19 Impact on Doors Market
The global market for doors has experienced a negative growth, throughout the COVID-19 pandemic period. This declined growth is mainly attributed to the massive hit on the construction industry. Almost all construction sites in both developed as well as developing nations have shut down, in order to avoid the communal transmission. Also, sites which are open have faced operational restrictions and disrupted supply chains. Such factors create severe impact on the global doors industry.
However, startup as well as established companies are coming up with attractive product launchings in order to sustain in the global market. For instance, in January 2020, Crystal Window & Door Systems key player in providing quality, energy efficient vinyl, and aluminum doors & windows officially announced its new series of CVP-1100 Knock-Down vinyl sliding patio door. These doors provide construction professionals with easy transport, handling, stocking, storage, and installation, all at the great value. Such innovative product introduction, throughout the COVID-19 chaos may help uplift the global door industry market.
Global Doors Market Analysis
The growth of the doors market is mainly attributed to factors such as significant surge in home remodeling expenditures along with the rise in residential & nonresidential construction activities. Moreover, the major advancements by market players namely Assa Abloy, Masonite International Corporation, and Jeld-Wen, Inc. are also further expected to flourish the doors market growth, in the analysis period. For example, in March 2021, Masonite International Corporation, a share leader in manufacturing exterior and interior doors, announced the patent-pending technology in order to integrate power and internet connectivity particularly into residential doors. This technology will enhance the security functionality into the doors that may provide additional value for the homeowners. Along with such inventions, rapid urbanization and industrialization in the regions such as LAMEA and Asia-Pacific are further expected to offer lucrative opportunities for the global doors market.
High installation cost of doors specifically for the low- & medium-income countries is one of the major reasons hampering the global doors industry, during the analysis period. In addition to this, lack of skilled personnel mainly in Latin America and Africa is also anticipated to restrain the market growth.
In recent several years, the popularity of environment-friendly doors has astonishingly increased. These eco-friendly doors are highly durable and most energy efficient. Moreover, these doors are manufactured with the advanced process that releases 96% fewer volatile organic compounds (VOCs) than the traditional treatment processes. All these factors are further expected to create enormous market opportunities in the global doors industry worldwide.
Global Doors Market, Segmentation
The global doors market is segmented based on type, material, mechanism, application, and region.
The type segment is further classified into interior and exterior. According to the interior doors market forecast, the market is expected to reach up to $96,884.0 million by 2028, surging from $67,027.6 million in 2020.
Rapid industrialization & urbanization along with extensive rise in the disposable income in emerging markets such as India and China are further projected to offer lucrative opportunities for the market players operating in the interior doors market.
The material segment is further classified into metal wood, glass, uPVC, and others. Among these, the uPVC sub-segment is expected to have the lucrative share and surpass $26,627.0 million by 2028, with the increase from $17,606.2 million in 2020.
The growth of the uPVC sub-segment of doors market is mainly attributed to its high resistance to corrosive environments, water, chemicals, and weather. Moreover, uPVC significantly has low maintenance, along with it provides unparalleled quality. Also, the uPVC material is 100% recyclable, serves insulation against rain, and provides sound insulation, UV protection, and resistant to saltwater. Owing to such potentialities, demand for uPVC doors is expected to increase dramatically, during the forecast period.
The mechanism segment is further classified into swing, sliding, folding, revolving, and others. Among these, the swing sub-segment is expected to have the lucrative share and surpass $63,440.5 million by 2028, with an increase from $43,678.9 million in 2020.
Swing doors can be manufactured from multiple materials such as wood, plastic, aluminum, and glass. Swing doors are highly suitable for both outdoor and indoor doors. Swing doors are excellent emergency doors with features including smoke & fire control, break-out features, and anti-burglary protection for enhanced security. In addition to this, growing adoption of automated swing door which mainly helps in enhancing the building’s accessibility, ensuring barrier-free passage, and increasing hygiene standards is also projected to fuel the sub-segment’s growth, in the forecasted years.
The application segment is further classified into residential and non-residential. Among these, the residential sub-segment is predicted to have the fastest growth and cross $92,279.5 million by 2028, with the rise from $64,352.0 million in 2020.
This growth is majorly attributed to its key features including improved energy efficiency, high durability, and cost-effectiveness. Moreover, increasing popularity of doors with modern styles such as larger glazing areas, artistic details, and irregular shapes is anticipated to be one of the factors bolstering the sub-segment’s growth, during the forecast period.
Asia-Pacific doors market share accounted for $49,492.4 million in 2020 and is further anticipated to register a revenue of $72,709.1 million by 2028.
Technological advancements in the door industry to offer safety & security, along with noticeable expansion of public investments in infrastructure may drive the Asia-Pacific doors market, in the forecast period. Furthermore, growing Asian consumers' expenditure on the development of new buildings as well as home decoration may create market opportunities for the investors, in this region.
Key Players in the Global Doors Market
Some of the leading global doors market players –
- ASSA ABLOY
- dormakaba Group
- Jeld-Wen, Inc.
- Simpson Door Company.
- ANDERSEN CORPORATION
- Fancy Doors & Mouldings Ltd.
- Cornerstone Building Brands
- ARCAT, Inc.
- LaCantina Doors
- Boon Edam
Along with the company profiles of the key players in the market, the report includes the Porter’s five forces model that gives deep insights into the competitive environment of the market.
Porter’s Five Forces Analysis for the Global Doors Market
- Bargaining Power of Suppliers: The suppliers of global doors are high and more globalized. So, there will be less threat from the supplier. Thus, the negotiation power of doors supplier decreases.
Hence, the bargaining power of the supplier is low.
- Bargaining Power of Buyer: Buyers have high bargaining power, mainly because of increasing buyers’ demand for innovative doors namely front doors, French doors, and others in lower cost. Thus, multiple suppliers are providing best yet cost-efficient doors. Hence, the buyers can select the service that best fits their preferences.
The bargaining power of the buyer is high.
- Threat of New Entrants: The startups entering this market are providing advanced solutions including sliding doors and screen doors to clients. Moreover, these organizations are mainly focusing on the implementation of multiple strategies, brand development, product innovation, and many others.
Thus, the threat of the new entrants is high.
- Threat of Substitutes: There is no substitute available for the doors.
Therefore, the threat of substitute is low.
- Competitive Rivalry in the Market: The ventures operating in the global doors industry are opting for multiple business development strategies to stronghold their market position in the industry. Also, key players like LaCantina Doors. and Boon Edam are investing heavily to provide integrated services to the customers.
Therefore, competitive rivalry in the market is high.