ID: MRFR/CO/5130-HCR | February 2021 | Region: Global | 111 pages
The future of the propelling global exterior doors market is projected to grow. The main reason behind this is the emergence of opportunities that is resulting in a major degree of growth of the residential and commercial construction industry, as a part of the global market functioning during the forecast period. The global exterior doors market is estimated to reach a global market value that accounts for USD 107,954 billion during the forecast period of 2021-2028 and is forecasted to be growing at a global market CAGR of 6% from 2021 to 2028. During the historic forecast period that had ended in 2019, the global market was valued at a market sum worth USD 65,327 million.
The emerging market trends, which have a direct impact on the market dynamics of the industry, include the introduction of impact windows and doors, amongst others like energy efficiency in aluminum doors and windows, replacement of wood by eco-friendly aluminum, and introduction of fully reversible windows, as well.
The exterior doors market value has been severely impacted owing to the sudden outbreak of the novel coronavirus pandemic in the international market. The global exterior doors market has been witnessing a constant emergence of market issues and restraints like the imposition of lockdown and reduced availability of resources and skilled labor followed by the inflated prices that might hamper the market growth during the forecast period of 2021-2028 that followed the pandemic year of 2020. There has been an emerging need for the market players to return to normalcy however, the globally rising rate at which the novel coronavirus is being spread is alarmingly high.
The global governments followed by the key market players are collaborating on an international scale. This functioning is giving rise to global market investment and funding that will help in the expansion of the product portfolio and cover the losses that have been incurred by the market trends during the outbreak of the pandemic during 2020.
The global exterior doors market has been witnessing the birth of factors that will give rise to immense competition in the international market during the forecast period that will be ending in 2028. One of the reasons for the emerging market competition is the recent developments that have been undertaken by the following market players:
The global exterior doors market has been segmented into the residential and commercial sectors which will help to meet the vibrant needs of the global audience that are looking for investment opportunities. Also, the residential application segment of the exterior doors market had projected to be accounted for a significantly large share of the global market. This can be attributed to the growing construction of residential projects during the historic forecast period followed by the trends that are propelling in the ongoing period that will be ending in 2028.
However, the exterior doors market share is projected to be witnessing the emergence of factors like the lack of awareness followed by the hampered potential of the target customers to stick to their traditional alternates. The market is also witnessing the decline in the purchasing power of people that is hampering their ability to invest in the exterior doors. This is further likely to hamper the global market from growing during the forecast period based on its predictions that have been laid by the market chiefs and experts.
As these exterior doors are available in several colors and textures, they are giving rise to modern design choices that support the needs of the global target audience. Hence, the exterior doors market share is likely to have great things in store during the ongoing forecast period of 2021-2028. Also, the global market trends are enjoying the rise in funds and investments that are accelerating the growth of the global market.
The exterior doors market growth can be attributed to the excellent performance recorded and the rising revenue that has been achieved by the global market segments followed by their rising ability to meet the growing needs of the target audience that is located in different participating global market locations. The global exterior doors industry has been segmented based on the following:
The global market has been segmented based on the type and includes:
The exterior doors market is segmented into the following:
This segment of the exterior doors market includes:
The exterior doors market is segmented into non-residential and residential.
The global market has been segmented based on the region like:
- North America
- Asia Pacific
- Rest of the World
The global exterior doors market share is likely to be witnessing high growth during the forecast period that will be ending in 2028 owing to the rising demand followed by the prominent growth of the residential construction and commercial industry across the globe. Hence, suiting the demand patterns of the global target audience for the market especially during the ongoing forecast period that will be ending in 2028, the market is expected to propel at an excellent market rate.
The Asian Pacific region is expected to register the majority of market share and will further, dominate the market in the forecast period that will be ending in 2028. Developing economies in the region like India, China, and Brazil are witnessing an improvement in the quality of life with improved spending capacities, which is expected to drive the market at an excellent rate. Also, the rise in easy availability of raw material and labor in India makes it one of the major markets for setting up manufacturing facilities. Moreover, there has been an increase in urban population and disposable income in most of the developing countries that fuel the demand for exterior doors. The exterior doors market trends suggest that the increasing number of construction projects, continuing trend to change the interior, and remodeling activities can be attributable to the growth in the adoption of exterior doors in Asia-Pacific. The growth of the exterior doors market is also likely to be influenced by the increasing construction activities and changing interior preferences of various market end-users. Furthermore, the growth of urbanization and disposable income of the target consumers have led to the emergence of Asia-Pacific as the fastest-growing region.
The exterior doors market report has been prepared after conducting an extensive market analysis of the prevailing market trends that are likely to dwell during the forecast period of 2021-2028. The global market report helps the industry buyers and potential market investors have a glance at the market functioning and invest their money accordingly. The global market report further supervises the competitive degree that prevails in the global market by understanding the recent developments that have been undertaken during the period. The report also discusses the potential of the market segments, as well.
|Market Size||2030: Significant Value|
|CAGR||6 % CAGR (2022 to 2030)|
|Forecast Period||2022 to 2030|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type, Material, Mechanism and Application|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||ASSA ABLOY (Sweden), Anderson Corporation (US), JELD-WEN, Inc. (US), Yuanda China Holdings Limited (China), Marvin Windows and Doors (US), LIXIL Group Corporation. (Japan), PELLA Corporation (US), Hörmann (Germany), and Masonite (US), Bayer Built Inc. (US)|
|Key Market Opportunities||The increasing construction, renovation, and refurbishing activities|
|Key Market Drivers||Increasing disposable income and changing consumer preferences|
Frequently Asked Questions (FAQ) :
Global exterior doors market is projected to grow at approximately 6% CAGR during the assessment period (2022-2030).
Higher disposable incomes and the growing construction industries are major tailwinds pushing the growth of the global exterior doors market.
High cost of eco-friendly doors and fluctuating prices of raw material are the major growth impeders for the global exterior doors market.
Asia Pacific holds the largest share in the global exterior doors market, followed by North America and Europe, respectively.
ASSA ABLOY (Sweden), Anderson Corporation (US), JELD-WEN, Inc. (US), Yuanda China Holdings Limited (China), Marvin Windows and Doors (US), LIXIL Group Corporation. (Japan), PELLA Corporation (US), Hörmann (Germany), and Masonite (US), Bayer Built Inc. (US), are some of the top players operating in the global exterior doors market.