DUBLIN--(BUSINESS WIRE)--The "Revolving Doors Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product Type, Operation Type, and Application" report has been added to ResearchAndMarkets.com's offering.
The revolving doors market is projected to reach US$ 1,121.42 million by 2028 from US$ 860.83 million in 2021; it is estimated to grow at a CAGR of 3.9% from 2021 to 2028.
Revolving doors are three- or four-wing doors that revolve around a vertical axis in a cylindrical appendix. These doors are energy efficient and help reduce the loss of heating or cooling of the buildings. The rise in construction of high-tech airports, cinema halls, grand hotels, shopping malls, and others is expected to influence the revolving doors market growth during the forecast period.
A rapid rise in construction activities and an increase in the adoption of door automation in developed and developing countries are propelling the growth of revolving doors market size. These doors support secure, easy, fast, and accurate operations. The rising implementation of automatic doors in commercial and industrial spaces, and growing awareness about new and developing technologies are expected to offer ample opportunities for the revolving doors market growth.
North America led the revolving doors market in 2020, majorly due to presence of a large of number of data centers. States such as California, Texas, Florida, Pennsylvania, New York, Massachusetts, Arizona, Washington, North Carolina, Virginia, Ontario, and British Colombia have become data center hubs in the region.
Companies such as CenturyLink, Digital Realty Trust, L.P., Equinix Inc., and AT&T, Inc. are among the leading data center colocation players in North America, and they are expanding at an exponential rate. Further, a rise in spending across APAC countries for maintaining security in office premises across the commercial, industrial, and government sectors is driving the adoption of advance revolving doors.
Impact of COVID-19 Pandemic on Revolving Doors Market
Prolonged lockdown periods due to the COVID-19 pandemic resulted in a huge decline in the growth of the construction industry in APAC in 2020.
Different companies in the region discontinued their production activities in the initial phase of COVID-19 pandemic to keep a check on the spread of the disease. This halt in production for an indefinite period disturbed supply chains in various Asian countries, including India and China.
Moreover, maintaining the quality of the projects is one of the most important challenges faced by construction players in the region as each country functions with a different regulatory framework. However, with relaxations in lockdown restrictions and ongoing vaccination process the raw material shipment and industrial activities have grown steadily, which boosted the growth of the revolving doors market in APAC in 2021.
ASSA ABLOY, CoMETA SpA, dormakaba Group, GEZE GmbH, Horton Automatics, KONE Oy, Manusa, Royal Boon Edam International B.V., Stanley Access Technologies LLC, and TORMAX are among the key players operating in the global revolving doors market.
Key Industry Dynamics
Market Drivers
- Rising Adoption of Doors Automation in Commercial and Industrial Spaces
- Increasing Infrastructure Spending and Rapid Urbanization in Emerging Economies
Market Restraints
- High Initial Investment
Market Opportunities
- Adoption of Green Building Standards and Energy Efficient Products
Future Trends
- The Emerging Trend of Integrated Security for Intelligent Buildings
Companies Mentioned
- ASSA ABLOY AB
- CoMETA SpA
- dormakaba Group
- GEZE GmbH
- Horton Automatics
- KONE Ojy
- Manusa
- Royal Boon Edam International B.V
- Stanley Access Technologies LLC
- TORMAX USA Inc.
For more information about this report visit https://www.researchandmarkets.com/r/xwvutq
