Impact of COVID-19 on the Global Bifold Doors Market
COVID-19 has spread globally and has considerably affected the bifold doors market. In March 2020, the declaration of coronavirus as a pandemic has resulted in lockdowns being implemented in most of the countries. The restrictions imposed by government authorities have compelled the industry players to allow their employees to work remotely. However, the adoption of automated technologies to minimize human interaction in manufacturing facilities is expected to support the growth of the global bifold doors market over the projected timeframe. The use of technologies, including automated machinery and advanced electronics during the pandemic, has not only ensured the global continuity of businesses but has also enhanced work productivity.
Numerous emerging and developed economies have implemented countrywide partial or complete lockdowns to maintain social distancing. Many of the sale outlets and e-commerce services were shut down to curb the spread of the pandemic. The manufacturing of construction-related products and the provision of related services was restricted to permitted limits during the lockdown. The production of bifold doors was also affected, resulting in a demand and supply gap. The COVID-19 pandemic has affected the supply chains, limiting the growth of the global bifold doors market. These factors have severely impacted the global economy and the revenue generation of the construction industry.
Sales of bifold doors play a vital role in generating revenue for the construction industry, owing to their high usage in the construction of commercial and residential buildings & offices. The reduced global demand for bifold doors due to the ongoing crisis is expected to affect the construction sector over the projected timeframe. However, industry participants are expected to improve their manufacturing capabilities to maintain a competitive edge with the stabilizing market scenario over the projected timeframe. According to the MRFR analysis, the global construction industry is expected to witness slow growth in the coming year, which is likely to affect the global demand for bifold doors and related products. The bifold doors market is expected to recover in Q1 of 2021.