Sectional Doors Market to Reach $8.5 Billion, Globally, by 2031 at 4.9% CAGR: Allied Market Research

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Feb 03, 2023, 07:00 ET

The growth in the manufacturing sector has largely been aided by the rising demand for manufactured goods, which is a direct result of the rising purchasing power of people around the world. Moreover, the rapid rise in urbanization and improving economic conditions of the masses is increasing the number of cars on the roads, eventually driving the need for parking garages. Such factors drives the growth of the global sectional doors market

PORTLAND, Ore., Feb. 3, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Sectional Doors Market by Material (Aluminum, Steel, PVC, Fiberglass, and Others), Application (Exterior, and Interior), and End User (Residential, and Non-Residential): Global Opportunity Analysis and Industry Forecast, 2022-2031." According to the report, the sectional doors market size was valued at $5,351.9 million in 2021 and is projected to reach $8,593.9 million by 2031, registering a CAGR of 4.9% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, regional landscapes, and competitive scenarios.

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Drivers, Restraints, and Opportunities-

The growth of the manufacturing sector in emerging economies is also attributable to the various industrial development programs implemented by the government of their respective countries. Since the manufacturing facilities utilize sectional doors owing to their ability to cover a large opening, the rise in the number of these facilities is anticipated to drive the demand for sectional doors. Moreover, sectional doors are vastly used as garage doors; thus, the rising number of vehicles across the globe is projected to favorably impact the sectional doors market. Increasing demand for consumer and industrial items, such as consumer durables, packaging materials, food & beverages, pharmaceuticals, and numerous others, has led to a boom in the manufacturing sector, especially in emerging economies provides lucrative growth opportunities for the sectional doors market growth.

Covid-19 scenario-

The sectional doors market was severely hampered during the lockdown period owning to the outbreak of COVID-19. The doors manufacturing sector were most affected. However, the market recovered by the end of 2021.
However, the global market for sectional doors has recovered slowly and steadily.

The steel segment to maintain its dominance in 2021

On the basis of materials, the market is segmented into aluminum, steel, PVC, fiberglass, and others. Among these, the steel segment accounted for the highest market share in 2021, owing to its high strength, and durability. The steel being a highly ductile metal offers manufacturers the ability to create complex, intricate, and artistic designs on sectional doors. Furthermore, sectional steel doors can initially be more expensive, but the lesser number of repairs or faults makes it a cost-effective option in the long run. Such advantages of steel sectional doors are anticipated to positively influence market growth.

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The exterior was largest segment based on revenue in 2021

on the basis of exterior and interior, the exterior segment accounted for the highest market share in 2021, owing to high demand from non-residential users. With the growth in globalization, and the increase in disposable income of the masses, a substantial rise in the number of homes, shops, factories, and warehouses can be witnessed; thereby, providing opportunities for growth for the sectional doors market.

Europe garnered the major share in 2021-

Europe region was the largest contributor to the sectional doors market revenue in 2021 and LAMEA is expected to grow by a high CAGR during the forecast period. The sectional doors are vastly used by industrial and commercial buildings including parking garages, as these doors do not cause any obstruction of the work area in addition to looking elegant. Therefore, increase in the number of industrial and commercial facilities is expected to positively influence the sectional doors market in the region.

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Leading Market Players-

Assa Abloy Group
Avians Innovations Technology Pvt. Ltd
Hormann Group
Novoferm Group

The report analyzes these key players in the global sectional doors market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, developments, and product portfolios of every market player.

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