Doors Market – Opportunities And Challenges

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PUNE, India, 2019-Dec-15 — /EPR Network/ — Doors Market by Material (Metal, Wood, Plastic, Glass, Composite), Mechanism (Swinging, Sliding, Folding, Overhead), Product Type (Interior, Exterior), Mode of Application (New Construction, Aftermarket), Application, and Region – Global Forecast to 2022 indicates that the global doors market size valued at USD 81.7 billion in 2017, is estimated to grow at a CAGR of 4.9% and is projected to reach USD 103.5 billion by 2022. The primary growth drivers for the market are the recovering economies, demand for better security and safety, the growing construction industry, and the need for energy-efficient and green doors.

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The interior doors segment in the doors market is estimated to grow at the highest CAGR in the forecast period

Owing to the growing construction industry and residential projects around the world, interior doors will be high on demand. With the requirement of better-facilitated doors and government implementation of various requirements of “green doors” will also play a role in the development of the market segment.

Additionally, the estimated growth of the construction sector, the decision to improve non-residential projects by the government and the increasing growth in the residential area have a role to play as well. With that being said, it is estimated that the interior doors segment will grow at the highest CAGR rate in the forecast period.

Global growth of the interior doors industry is estimated to take the largest part of this forecast

With the surge in the growth of the market in developing countries, for both residential and non-residential sectors, the doors market is expected to grow. The demand for greener doors, which are made with improved energy efficiency properties will also have a part to play.

The industry is divided by the type of material used by the interior doors. The demand for wooden doors is estimated to grow the highest and is followed by glass. Both industrialization and urbanization will have a part to play. Panel doors could witness the highest growth surge, and the use of interior doors in the segment of residential settings will be estimated to grow during this forecast period. By mechanism, swinging doors would hold the largest share and growth as per CAGR rates in the industry. Although the high price factor for green doors may be an issue in certain areas, developed countries are estimated to see a growth surge in those areas as well.

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The market in Asia Pacific doors market is estimated to grow during the forecast period

In 2017, the Asia Pacific region had the largest share in the doors market, which is expected to increase further by 2022. The region, which includes Japan, China, India, and other Asian countries, is said to see a vast growth in this market, China may even be the leading country for the growth of this market. Although Asia remains to be the frontrunner in the market, North America is expected to be the second in the market as per growth by CAGR.

The Asia Pacific area held around half of the market during 2017, which is expected to grow in the forecast period. The reason for Asia Pacific’s placement in such conditions is owing to the growth of various countries, especially China and India. Other than this, the fact that such countries’ population is proliferating, the growth of various sectors in the countries, and the increase in disposable income in the countries will aid the estimated growth of the Asia Pacific region during the forecast period.

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