The Business Research Company has updated all its market reports with the latest information for the year 2024, projecting trends and forecasts until 2033
How Has the Doors Market Size Evolved And What is the Growth Rate?
The doors market size has grown rapidly in recent years, progressing from $138.26 billion in 2023 to $154.53 billion in 2024. This upward trend demonstrates a compound annual growth rate CAGR of 11.8%. Factors such as construction and real estate growth, home renovation and remodeling, commercial building construction, and concerns regarding security, safety, energy efficiency, and sustainability have all played significant roles in this expansion.
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What Does the Doors Market Growth Forecast Look Like?
Looking to the future, the doors market size is set to experience continued rapid growth in the forthcoming years. The market is forecasted to expand to $237 billion in 2028, maintaining a healthy CAGR of 11.3%. The growth in the forecast period can be attributed to the aging population, universal design, increased security solutions, energy-efficient doors, expansion in the commercial and industrial sectors, and emerging market growth. Key trends during this period are anticipated to include touchless and contactless entry solutions, smart and IoT-enabled doors, technological advancements, strategic collaborations, and use of innovative engineered wood.
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What Key Factors are Driving Growth in the Doors Market?
A predominant driver of growth within the doors market is the rapid urbanisation occurring globally. Urbanisation, the shift of population movement from rural to urban locations, is effectively increasing human population densities within these urban areas. With this uptick in urbanisation comes increased demand for new residential and non-residential buildings, thereby offering further opportunities for the doors market. For instance, the Department of Economic and Social Affairs of the United Nations predicts that by 2050, 2.5 billion people or 68% of the world’s population will live in urban areas. As a result, this global urbanisation will significantly drive the doors market.
Who Are the Key Industry Players in the Doors Market?
The doors market is populated by major companies such as Allegion PLC, Andersen Corporation, Assa Abloy AB, Jeld-Wen Inc., KONE Corporation, Masco Corporation, Masonite International Corporation, Pella Corporation, PGT Innovations Inc., Simpson Door Company, American Automatic Doors Inc., Geze GmbH, Shakti Hormann Private Limited, Lixil Group Corporation, Ply Gem Holdings Inc., Fortune Brands Home & Security Inc., YKK AP Inc., Marvin Windows and Doors, Therma-Tru Doors, Clopay Building Products Company Inc., The Overhead Door Corporation, Wayne Dalton Corp., C.H.I. Overhead Doors Inc., Amarr Co. Inc., Raynor Manufacturing Company, Haas Door Company, Richards-Wilcox Inc., Midland Garage Door Mfg. Co., Northwest Door Inc., Windsor Door Siding and Windows, TruStile Doors LLC, Eggers Industries, VT Industries Inc., Algoma Hardwoods Inc., Graham Wood Doors, Karona Inc., Lynden Door Inc., Oshkosh Door Company, Rogue Valley Door Inc., Sierra Pacific Windows Inc.
What Emerging Trends are Gaining Momentum in the Doors Market?
Emerging trends such as technological advancements are gaining significant popularity within the doors market. These advancements have unveiled a plethora of opportunities for innovation, evolving technologies, and market growth. For instance, Assa Abloy, a Sweden-based company that offers products and services related to doors, is currently developing automatic sliding digital displays doors by combining LG Electronics’ industry-leading organic light-emitting diode display technology. These innovative doors are designed to display images and videos using various technologies.
How is the Doors Market Segmented?
The doors market can be segregated into the following segments:
1 By Material: Wood, Glass, Metal, Composite, Plastic
2 By Mechanism: Swinging Doors, Sliding Doors, Folding Doors, Overhead Doors
3 By Application: Non-residential, Residential
What are the Regional Insights in the Doors Market?
In 2023, Asia-Pacific emerged as the largest region in the Doors market. The doors market report offers comprehensive coverage of various regions including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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