LONDON--(BUSINESS WIRE)--The global door systems market is expected to grow at a CAGR of more than 6% during the forecast period, according to Technavio’s latest market research.
In this market research report, Technavio covers the market outlook and growth prospects of the global door systems market for 2017-2021. The market is further categorized into three segments based on primary material which are, wood, metal, and plastic and others. In 2016, the wood doors segment accounted for the highest share of revenue, with over 37% of the overall market.
“The demand for high-end and energy-efficient doors is expected to become a key driver for market growth during the forecast period, owing to the acceleration in the construction industry. The rising popularity of premium wood and composite doors from residential users will lead to greater sales of high-value door systems,” says Gaurav Mohindru, a lead construction research expert from Technavio.
Technavio’s research analysts segment the global door systems market into the following regions:
- APAC
- Americas
- EMEA
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Door systems market in APAC
APAC holds the largest market share of the global door systems market, accounting for 41.14% of the overall market share in 2016. This region is expected to register the fastest growth rate during the forecast period due to the rapid economic growth and rise in urban population.
The substantial increase in household disposable income during the past decade and growing middle-income population in emerging nations, such as China and India, has spurred the demand for modern and premium door systems.
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Door systems market in the Americas
The door systems market in the Americas accounted for close to 34% of the global door systems market at the end of 2016. The US and Canada account for a significant share of the market within the region. The acceleration of the demand for residential housing in the US and Canada is the main factor driving the demand for door systems within the region. This scenario is expected to continue throughout the forecast period.
“The demand for replacement doors from building renovations is expected to lead the demand for door systems, as many end-users are interested in replacing aging doors with energy efficient solutions and architectural door systems. Another factor contributing to the growth of the door systems market in the US and Canada is the growing demand for mobile homes.” says Gaurav.
Door systems market in EMEA
The major growth driver for the door systems market is expected to be the replacement demand from the residential buildings due to the renovations and rise in the demand for energy efficient fenestration solutions. A significant share of the European energy consumption comes from residential and commercial buildings. To reduce the energy demand from these buildings, several governments in Europe are focusing on efforts to increase the energy of existing and new building construction, which is expected to propel the demand for energy efficient door systems.
The Middle East is expected to witness a strong growth in residential and commercial constructions due to several factors such as rapid population growth, recovery of crude oil prices, and tourism growth due to upcoming events like Expo 2020 and the 2022 FIFA World Cup. All these factors are expected to attract significant investments in countries in EMEA, such as Saudi Arabia, the UAE, Kuwait, and Qatar, and represent a major growth opportunity for the door systems manufacturers.
The top vendors in the global door systems market as highlighted in this market research analysis are:
- ASSA ABLOY
- ANDERSEN
- JELD-WEN
- Masonite
- PELLA
- YKK AP
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