Door and Window Market to exceed $137bn by 2024
"Asia Pacific will continue leading global revenue through the next few years due to attractive China and India window and door market size and growth prospects."
"Window and Door Industry Trends By Material (uPVC, Wood, Metal), By Application (Residential Commercial), Region, Competitive Market Share & Forecast, 2024"
U.S. window and door market size was valued at USD 13.5 billion in 2015 and will grow at over 6% CAGR from 2016 to 2024.”
OCEAN VIEW, DELAWARE, UNITED STATES, March 8, 2017 /EINPresswire.com/ -- — Global Market Insights Inc.
Door and window market share will grow noticeably over the coming seven years, owing to the growing infrastructure activities across the commercial and residential sectors. As per Global Market Insights, Inc., “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.”
Several international agencies such as International Organization for Standardization (ISO) and International Code Council (ICC) are promoting the usage of eco-friendly products to reduce carbon footprints. In addition, the easy availability and affordability of these products will further stimulate the window and door industry outlook.
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Commercial and residential sectors are the prominent application areas of the door and window market. Residential application collected over USD 45 billion revenue in 2015 and will grow lucratively over the coming timeframe, owing to the surging spending on construction activities to develop residential infrastructure. The government’s environment-friendly regulations along with growing demand for energy conservation will further drive the window and door industry noticeably. Commercial application is projected to register an annual growth rate of 6.5% over the coming seven years, due to the growing adoption of the eco-friendly products across the sectors such as transport, healthcare, and retail.
Door and window market is primarily segmented in terms of materials 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 noise proof solution, which is one of the directive 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, 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 window and door 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.
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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, Corialis, YKK Corporation, Reynaers Inc, 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:
https://www.gminsights.com/industry-analysis/window-and-door-market
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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