Bifold Doors Market size is set to grow by USD 3.05 billion from 2024-2028, Growing popularity of multifamily dwellings to boost the market growth, Technavio

NEW YORK, June 13, 2024 /PRNewswire/ -- The global bifold doors market  size is estimated to grow by USD 3.05 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 5.95%  during the forecast period. Growing popularity of multifamily dwellings is driving market growth, with a trend towards increasing demand for aluminum bifold doors. However, challenges in affordability of houses  poses a challenge. Key market players include AG Millworks, ANDERSEN Corp., Associated Design and Installations Ltd., AWM Building Maintenance Ltd., Brennan Enterprises., Clear View Bi folding Doors Ltd., Cornerstone Building Brands Inc., Euramax Solutions Ltd., Frameless Glass Curtains Ltd., JELD WEN HOLDING Inc., Kloeber UK Ltd., LaCantina Doors Inc., Lux Windows and Glass Ltd., Marvin Lumber and Cedar Co., Origin Frames Ltd., Pella Corp., Sightline Aluminium Glazing Systems, Solarlux GmbH, Sunflex UK, The Bi Folding Door Co., TWR Trade Frames Ltd., Viva Doors Ltd., YKK Group, and Deceuninck Group.

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Key Market Trends Fueling Growth

The global bifold doors market is experiencing growth due to the rising demand for aluminum bifold doors. These doors offer several advantages, including durability, energy efficiency, and customizability. Aluminum is a lightweight and strong material that can withstand harsh weather conditions and resist corrosion, rust, and warping. Additionally, aluminum bifold doors have thermal breaks for insulation and excellent sound insulation properties. They require minimal maintenance and are available in various sizes, configurations, colors, and finishes to suit unique home specifications. Their sleek design adds elegance and sophistication to any home. 

The bifold doors market has seen significant growth in recent years. Glass and fiberglass are popular materials used in their production. These doors offer versatility, as they can be used in various indoor and outdoor applications.

The trend towards larger home windows and doors continues, with many homeowners opting for larger bifold doors to bring more natural light into their spaces. Decorative bifold doors are also gaining popularity, with homeowners seeking to add style and character to their homes. Costs vary depending on the materials used and the size of the doors. Urbanization and increasing infrastructure development are key drivers of the market. Sleek and modern in design, bifold doors provide a seamless transition between indoor and outdoor living spaces. 

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Market Challenges

• The affordability crisis in the housing market significantly affects the global bifold doors market, particularly in emerging economies. Challenges in creating functional housing finance systems, title registration, and long-term financing hinder the growth of this market segment. The financial crisis further decreased affordability, leading to increased renting and a shift away from homeownership.
• Overvaluation of properties compared to incomes also impacts affordability, with many millennials opting to rent instead of buy. Key challenges include creating housing finance solutions for lower income groups and addressing the impact of the financial crisis.
• The bifold doors market faces several challenges in the industry. Durability and consistency in manufacturing are key concerns, as doors must be able to withstand heavy use and maintain their appearance.
• Conditions such as humidity and temperature can impact the performance of bifold doors, requiring effective solutions for waterproofing and insulation. Additionally, the cost of raw materials and logistics can impact pricing and profitability. Residents and businesses seek energy efficiency and security features, adding to the complexity of design and manufacturing. Proper research and development, as well as strategic partnerships, are essential for companies to address these challenges and remain competitive in the market.

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Segment Overview 

1. End-user 
• 1.1 Residential
• 1.2 Non-residential
2. Type 
• 2.1 Interior doors
• 2.2 Exterior doors
3. Geography 
• 3.1 North America
• 3.2 Europe
• 3.3 APAC
• 3.4 South America
• 3.5 Middle East and Africa

1.1 Residential-  The residential segment is experiencing robust growth in the global bifold doors market. The housing market, a substantial portion of the construction industry, is anticipated to expand due to economic growth, decreasing unemployment, and lower interest rates.

Population growth and urbanization also contribute to the residential construction market's expansion. Interest rates significantly impact housing affordability, with lower rates driving demand. Rising incomes and employment levels further fuel the housing market's growth, leading to increased demand for bifold doors in the forecast period.

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Research Analysis

The Bifold Doors industry continues to thrive, driven by the demand for insulated panels and advanced sealing mechanisms that ensure optimal heat transfer. These doors offer a sleek design, versatility, and increased aesthetic values, making them a popular choice for architects and homeowners alike. With the integration of artificial lighting and contemporary aesthetic values, bifold doors have become a preferred option for construction projects.

DIY users also benefit from the folding mechanism, which often utilizes multiple hinges and panels made of materials like wood or PVC. The market for bifold doors, panel doors, door walls systems, and patio doors is vast, catering to various temperature conditions and the separation of rooms. The visual appeal of these doors adds significant value to any space, be it a patio, balcony, or interior room.

Market Research Overview

The Bifold Doors Market encompasses a wide range of folding doors used primarily for indoor and outdoor applications. These doors offer versatility, functionality, and aesthetic appeal, making them a popular choice for both residential and commercial spaces. The market consists of various types of bifold doors, including aluminum, wood, and PVC, each with unique advantages.

The demand for bifold doors is driven by factors such as increasing consumer preference for natural light, energy efficiency, and the desire for open living spaces. Additionally, the growing trend towards sustainable and eco-friendly building materials is expected to fuel market growth. The market is segmented by product type, application, and region. The future outlook for the Bifold Doors Market is promising, with significant growth opportunities in emerging economies.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• End-user
• Residential
• Non-residential
• Type
• Interior Doors
• Exterior Doors
• Geography
• North America
• Europe
• APAC
• South America
• Middle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio