DUBLIN--(BUSINESS WIRE)--The "Commercial Doors Market - Global Outlook and Forecast 2020-2025" report has been added to ResearchAndMarkets.com's offering.
The global commercial doors market is expected to grow at a CAGR of over 3% during the period 2019-2025.
The commercial doors market is majorly driven by the rise in the commercial and residential construction sector, coupled with the growth in retrofit activities worldwide. The commercial sector has witnessed a boost in the last few years due to the demographic shift in the consumer base. The rapid growth of real estate activities, especially in China, has further influenced the market. Hence, the increase in the global construction market due to economic recovery in developed countries and the growing industrialization in developing regions is likely to contribute to the growth.
Commercial and residential buildings are expected to implement the latest infrastructure and technologies to improve security and aesthetics. The increasing demand for innovative door systems and the integration of energy-efficient glazed doors and windows, which drastically reduce heat loss and increase the thermal efficiency of buildings, is another factor influencing the market.
The growth in consumer spending is expected to drive the demand for high-tech access equipment such as automatic and ancillary door systems among retail and business establishments.
Market Growth Enablers
- Rising Expansion in Commercial Spaces
- Growing Tourism and Hospitality Sector
- Emergence of Coworking and High-Tech Infrastructure
Market Growth Restraints
- Raw Material Price Volatility
- Political Turbulence on Production and Demand
Market Opportunities and Trends
- Enhancements in Door Manufacturing Technologies
Rising Traction of Automatic and Remote-Controlled Doors
Commercial Doors Market: Segmentation
This research report includes a detailed segmentation by material, type, installation, operation, end-user, and geography. Increasing usage of high-quality local and imported woods in the vintage architecture in developed and emerging countries is expected to drive the growth of the segment. There is a growing preference for heavy wood among affluent consumers across the globe as they offer an aesthetic appeal to home dcor. Metal doors have a higher share among end-users, which require safety as well as sturdiness. Some of the factors, which are expected to drive the demand are the increase in non-residential and commercial construction, the rise in demand from consumers for renovation and retrofit projects.
Hinged doors are the most preferred products, which contributed over $24 billion to the commercial doors market in 2019. They can be made from a variety of materials such as timber, fiberglass, and aluminum. It offers high flexibility, which is increasing their application in the commercial and residential sectors.
Sliding doors are expected to gain significant momentum during the forecast period as they are lightweight and easy to operate. Moreover, they are considered to be energy efficient as glass is an excellent conductor of heat, enabling the optimum flow of natural light.
The demand for commercial doors is expected to witness the fastest growth in APAC and the Middle East. The rise in new industrial projects across the world and increased innovations in door manufacturing have increased the replacement cycle. APAC is considered to be the largest growing market as the new construction segment is growing at a CAGR of over 5% during the forecast period. Increased stringency in building codes and regulations, coupled with the emergence of complete door systems that are hassle-free as well as fireproof, is driving the market.
The demand in the corporate segment is likely to be driven by installations of new doors in office spaces and the increasing popularity of coworking spaces. Corporate office buildings are accounted for high power consumption. Advancements in door manufacturing have significant benefits such as high-degree of thermal insulation. The US office space construction market grew by 3% in 2019, which is expected to reach 22 million square feet by 2020.
The high demand for glassdoors can be attributed to the building of new malls and retail spaces and the rise in remodeling and retrofit activities among existing retail spaces. The retail segment is also a widespread user of commercial glass doors. The market is expected to witness a high use of sliding ones in retail spaces as they occupy less space and provide large openings to manage the high rash of customers.
Insights by Geography
The growth of the APAC market is likely to be driven by India, China, Australia, South Korea, and Japan. A robust economic growth, coupled with growing construction activities and increasing disposable incomes, has primarily supported the growth of the market in the region. The Europe market is driven by the growth of new commercial buildings as well as high demand from renovations and retrofit activities.
The increase in construction activities, a robust economic environment, favorable interest rates, and higher government spending on public infrastructure are the primary factors supporting the growth. The shift from housing construction to public infrastructure is expected to drive the demand in Europe during the forecast period. Strong economic growth, increased construction activities, and growth in corporate profits have increased expenditure on renovation and expansion activities, thereby driving the demand in North America.
Insights by Vendors
The global commercial doors market is highly fragmented with the presence of several doors manufacturers. The manufacturers introduce new products; however, they fail to generate demand among customers due to intermittent product updates and a long replacement cycle. Vendors are focused on integrating high-efficiency doors in their portfolios, which enable consumers to improve thermal efficiencies in buildings.
Double and triple glazing on glass panels with enhanced insulating capabilities of internal and external doors is expected to become an industry norm during the forecast period. Increased regulations on energy efficiency from governing bodies, the growing awareness of space heating concept, and increasing carbon footprints are also likely to bolster the market. Vendors are expected to pursue growth by acquisitions as there are numerous small-scale vendors.
Key Company Profiles
- VKR Group
Other Prominent Vendors
- ASSA ABLOY
- GRETSCH-UNITAS (G-U)
- REYNAERS ALUMINUM
- Ford Windows
- NEUFFER WINDOWS + DOORS
- Schco International
- Profine Group
- Masco Corporation
For more information about this report visit https://www.researchandmarkets.com/r/uyx9ec