Exterior Doors Market Trends, Share, Industry Size, Growth, Opportunities, And Industry Forecast To 2023
Exterior doors play multiple roles such as acting as a barrier for any unwanted guests and it lets out the first impression to any visitors about the lifestyle of owners of that house. It could be made of several materials such as metal, plastic, glass, wood, and other composites. The global US exterior doors market is expecting a 6% CAGR during the forecast period (2018-2023) with a possibility of scaling a substantial valuation by 2023. Market Research Future (MRFR) in their latest article on the exterior doors market has also made an analysis of factors that can impact the global exterior doors market.
Factors such as increasing disposable income and shifting consumer preferences are going to impact the global exterior doors market. Demand for metal doors is expected to shape the market. Also, folding doors and sliding ones, along with glass-makes can contribute to the market prospect. However, ecological concerns and fluctuating market price can deter the expected exterior doors market growth.
Competitive Landscape:
Several players in the global exterior doors market are making a difference with their strategies that aims at their individual growth and market expansion. These companies have been profiled by MRFR in their report. They are LIXIL Group Corporation. (Japan), Yuanda China Holdings Limited (China), JELD-WEN, Inc. (US), Marvin Windows and Doors (US), ASSA ABLOY (Sweden), Bayer Built Inc. (US), Hörmann (Germany), PELLA CORPORATION (US), Masonite (US), and Anderson Corporation (US).
Segmental Analysis:
MRFR’s analysis of the exterior doors market reveals a segmentation by type, material, mechanism, and application. This analysis aims at revealing details on the basis of volume-wise and value-wise data.
By type, the global exteriors market can be segmented into panel door, bypass door, bifold door, pocket door, and others. The panel doors section is enjoying much prominence in the market due to its ease of application, less space consumption, and easy affordability.
Based on the material, the exterior doors market can be segmented into wood, glass, metal, composite, and plastic. The plastic segment is gaining much popularity owing to its weather-resistant properties. The glass segment has wide application owing to its aesthetic qualities.
Based on the mechanism, the exterior doors market can be segmented into swinging doors, sliding door, folding door, overhead door, and others. The sliding door segment is gaining popularity owing to its ease of application.
Based on application, the exterior doors market can be segmented into non-residential and residential. The residential section is burgeoning owing to a huge growth in housing sector and subsequently, it is triggering growth of the exterior doors market.
Regional Analysis:
MRFR in their regional analysis of the global exterior doors market included namely, Asia Pacific (APAC), Europe, North America, and Rest-of-the-World (RoW).
The APAC market is doing great and is expected to retain their dominance throughout the review period. The region is gaining much from the presence of emerging countries like India, China, Thailand, and others. The residential sector is booming in these regions, not just because of the better real-estate sector but also due to the burgeoning tourism sector. The enriching of the quality of life is expected to play a significant role in taking the market ahead. Asia-Pacific is expected to register the majority of market share and will dominate the market in the forecast period. The region is also quite lucrative for being an ideal destination for its cost-effective labor and easy availability of raw materials. The region is also blessed with rapidly increasing urbanization which is triggering the business both financially and opportunity-wise.
In North America and Europe, the scenario is more or less the same. Several ongoing residential and non-residential projects and superior tourism and other projects are backing up the regional needs for expansion. In addition, many market leaders are from this region which is why both innovation and market outreach are getting substantial thrust.