A $276.7 Billion Global Opportunity for Door Systems by 2026 - New Research from StrategyR
SAN FRANCISCO, Nov. 16, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Door Systems - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
Edition: 9; Released: October 2021
Executive Pool: 1452
Companies: 119 - Players covered include Allegion plc; Andersen Corp.; Assa Abloy AB; Atrium Windows & Doors Inc.; dormakaba Holding AG; DuluxGroup Ltd.; Fortune Brands Home & Security, Inc.; Hormann Group; JELD-WEN, Inc.; Marvin; Metaflex Doors Europe BV; MI Windows and Doors, LLC; PGT Custom Windows + Doors; Ply Gem Residential Solutions; Turelemente Borne GmbH; Vicaima S.A.; YKK AP America Inc. and Others.
Coverage: All major geographies and key segments
Segments: Material (Wood, Metal, Plastic, Glass, Composite, Other Materials); Mechanism (Swinging, Sliding, Other Mechanisms); Application (Residential, Non-Residential)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UAE; Rest of Middle East; Africa.
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ABSTRACT-
Global Door Systems Market to Reach US$276.7 Billion by the Year 2026
Growth in the global market is led by the primary factor of increasing disposable incomes of households. In addition to high expendable incomes and changing lifestyles consumers becoming more aware of the emergence of new technologies that make doorways safer and more secure has also been driving market growth. The door systems have witnessed increased infusion of technology into them in the recent years, which has also been contributing to market growth. For instance, programmed fiberglass systems are available in the market currently. Demand is also increasing for more durable doors that limit exchange of warmth and air spillage. Enhanced security offering door systems are witnessing strong demand growth both from commercial and residential end-use sectors. Demand is especially high in urban centers because of increasing urbanization and infrastructure development. Efficient noise control door systems are in high demand to avoid distraction and to help improve the productivity of working environment.
Amid the COVID-19 crisis, the global market for Door Systems estimated at US$205 Billion in the year 2020, is projected to reach a revised size of US$276.7 Billion by 2026, growing at a CAGR of 5.1% over the analysis period. Wood, one of the segments analyzed in the report, is projected to grow at a 5.4% CAGR to reach US$151.6 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Metal segment is readjusted to a revised 5.1% CAGR for the next 7-year period. This segment currently accounts for a 18% share of the global Door Systems market. Metal doors made out of metal have accurate dimensions and offer high durability providing a long lasting solution. The doors are highly resistant to corrosion and act like a barricade protecting the structure from earthquakes and storms.
The U.S. Market is Estimated at $45 Billion in 2021, While China is Forecast to Reach $59.9 Billion by 2026
The Door Systems market in the U.S. is estimated at US$45 Billion in the year 2021. The country currently accounts for a 21.22% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$59.9 Billion in the year 2026 trailing a CAGR of 7.3% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.5% and 3.8% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.1% CAGR while Rest of European market (as defined in the study) will reach US$64.3 Billion by the end of the analysis period. Increasing discretionary spending among people in fast emerging countries like India and China is creating strong demand growth scenario for door systems in Asia-Pacific region. The pandemic had also led to increased interest in door systems upgradation in the recent years.
Plastic Segment to Reach $40.3 Billion by 2026
Polyvinyl Chloride (PVC) doors are regarded as good choice for the structures as they are durable and affordable. The resilience of vinyl doors enables them to defend the impacts of weather and also to remain stable when exposed to various temperatures. In the global Plastic segment, USA, Canada, Japan, China and Europe will drive the 4.3% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$22.9 Billion in the year 2020 will reach a projected size of US$31.1 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$5.3 Billion by the year 2026, while Latin America will expand at a 5.3% CAGR through the analysis period. More
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