As per the research done by Global Market Insights, Inc., Door and window market is to exceed $137bn by 2024. According to the reports from the said global market research and consulting service provider headquartered in Delaware, U.S, the market share will grow noticeably over the coming seven years, owing to the growing infrastructure activities across the commercial and residential sectors. The report mentions that the global door and window market collected revenue of more than USD 82 billion in 2015 and will exhibit an annual growth rate of 5.6% over the period of 2016 to 2024.
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Commercial and residential sectors are the prominent application areas of the door and window market. Residential applications collected over USD 45 billion in revenue in 2015 and will grow lucratively over the coming time frame, owing to the surging spending on construction activities to develop residential infrastructure.
The main issue, however, is the amount of carbon footprint contributed by this segment. To reduce and check this, a lot of International Agencies like the International Organization for Standardization (ISO) and the International Code Council (ICC) are promoting the usage of eco-friendly products which also happen to be readily available and affordable.
Commercial application is projected to register an annual growth rate of 6.5% over the coming seven years, due to the growing adoption of eco-friendly products across the sectors such as transport, healthcare, and retail.
The door and window market is primarily segmented in terms of materials such as wood, uPVC, and metal. uPVC Window and door industry had a 33% share of the global market in 2015 and is anticipated to record a revenue of USD 47 billion by 2024, driven by the characteristics of the uPVC such as recyclability and lightweight. The uPVC material provides a noise-proof solution, which is one of the directives for constructive products. In addition, uPVC-based products are recyclable, which will positively influence the material demand.
The metal-based door and window market will exhibit a growth rate of 5% over the period of 2016 to 2024. The attributing factor is the cost-effective usage of aluminum.
Geographically, the U.S. window and door industry worth USD 13.5 billion in 2015, will exhibit an annual growth rate of 6% over 2016 to 2024, owing to its increasing need for the commercial and residential sector.
European market players are developing windows and doors with acoustic insulation and permeability on a large scale. The constructive products directive formed by the European Union will drive the Europe door and window market size over the coming timeline.
Asia Pacific door and window market share is predicted to lead the global landscape, driven by its growing demand from India and China. China contributed more than 50% of the total revenue of the APAC industry size in 2015.
The market players are looking for mergers & acquisitions and partnerships to expand their business area. Most of the product development companies will focus on the comfort level of the customers to enhance their product portfolios. The key industry players in the door and window market are Eurocell, Andersen Corporation, Atrium Corporation, Coriolis, YKK Corporation, ReynaersInc, Schüco, Sapa Building Systems Ltd, and Pella.
Browse key industry insights spread across 315 pages with 386 market data tables & 16 figures & charts from the report Door and Window Market in detail along with the table of contents :