Exterior Doors Market Driven by Growing Demand for Doors in Construction Projects
The global exterior doors market is expected to grow at a steady 6% CAGR over the forecast period from 2018 to 2023, according to the latest research report from Market Research Future (MRFR). The global exterior doors market is mainly driven by the growing demand for exterior doors in construction projects in developing parts of the world such as Asia Pacific.
The increasing demand for IoT-enabled smart doors is likely to be a key feature of the global exterior doors market over the forecast period. Smart doors offer a much more convenient option to consumers than conventional doors, leading to their growing demand. Technological development in the IoT field is also likely to favor the development of IoT-enabled smart doors over the forecast period.
Leading players in the global exterior doors market include Anderson Corporation, Yuanda China Holdings Limited, LIXIL Group Corporation, Hormann, Bayer Built Inc., Masonite, Pella Corporation, Marvin Windows and Doors, JELD-WEN Inc., and ASSA ABLOY. Key players in the global exterior doors market are likely to focus on product innovation to come up with a wide-ranging portfolio of doors for various end use sectors.
The global exterior doors market is segmented on the basis of type, material, mechanism, application, and region.
By type, the global exterior doors market is segmented into panel door, bypass door, bifold door, pocket door, and others.
By material, the global exterior doors market is segmented into wood, glass, metal, composite, and plastic.
By mechanism, the global exterior door market is segmented into swinging, sliding, folding, overhead, and others.
By application, the global exterior doors market is segmented into non-residential and residential.
Asia Pacific is expected to dominate the global exterior doors market over the forecast period, mainly due to the growing construction activities in the region. The increasing construction activities in Asia Pacific, mainly in Southeast Asia and East Asia, have given rise to a solid demand for other construction components, including doors. The exterior doors market is expected to exhibit solid growth in the region over the forecast period due to the increasing awareness about the importance of doors and the growing demand for exterior doors in construction activities.
Residential as well as nonresidential construction have both been driven by the growing demand for industrial and civilian infrastructure in Asia Pacific, as the growing construction of new industrial plants as well as residential civil infrastructure has given rise to a solid demand for exterior doors. Residential apartments have been constructed at a rapid pace in Asia Pacific over the last few years, to accommodate the growing influx of immigrants migrating to urban centers looking for work. The increasing demand for residential construction is likely to be a major driver for the external doors market over the forecast period. Increasing disposable income and increasing prosperity have also made consumers more aware about the value of preserving one’s property, leading to an increased interest in exterior doors. The rising threat of crime and thefts in Asia Pacific is likely to drive the demand for strong exterior doors, leading to steady growth of the exterior door market over the forecast period.
Increasing infrastructure construction is also likely to drive the demand from the exterior doors market over the forecast period. Industrial infrastructure such as factories, plants, and other facilities rely on exterior doors to prevent theft of industrial materials. Other civil infrastructure such as power plants and power distribution systems also rely heavily on exterior doors to protect valuable power generation and distribution infrastructure. This is likely to remain a key driver for the global exterior doors market over the forecast period.
North America and Europe are also likely to retain a key share in the global exterior doors market, due to the growing demand for renovation of construction projects and the increasing need to update existing, conventional doors with modern, tech-equipped doors. This is likely to be a key driver for the global exterior doors market over the forecast period.