The global Windows and Doors market is forecast to grow at a rate of more than 5.2% during the forecast period, and the market value is estimated to cross USD 252.89 billion at the end of the forecast period.
Rapid progress in the residential and commercial real estate sector is driving the growth of this market. Widespread renovation and remodeling activities are going on throughout the world, and expenditure on home improvement activities is likely to boost the market further.
uPVC, metal, wood, plastic and other materials like glass are the most used materials in this market, and the material is chosen primarily on the basis of aesthetic beauty, affordability as well as its durability factor.
Major players in the market have been focusing on R&D and innovation in order to produce eco-friendly doors, windows, and smart doors in order to cater to the future needs and aspirations of consumers. The advent of smart windows and doors has provided a new direction to the market. The growing trend towards building smart cities is likely to bring massive changes in the windows and doors market.
Widespread urbanization and commercialization are leading to the construction of secure office spaces that seems to drive the market in the future. The market is predicted to witness a massive growth in the Asia Pacific, Middle East, and African region due to the increase in government spending in the infrastructure and construction sector in these regions.
The COVID-19 impact: Real Estate and commercial sector are one of the most important drivers of the windows and doors market. The real estate sector has hit its all-time lowest figures amidst this COVID-19 outbreak. The residential sector was already suffering due to less demand, and in the current situation, there will be a serious dearth of new projects along with a stoppage of work in ongoing projects due to labor as well as money shortage. Leasing activity in the commercial sector will also be largely affected, which suffices that both the residential and non-residential real estate sectors would be badly hit. This would lead to a real grim scenario in the windows and doors market.
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Key participants include Andersen Windows & Doors, Jeld-Wen Holding Inc., Marvin Windows & Doors, Masonite, Ply Gem Residential Solutions, Pella Corporation, Velux Group, YKKAP America Inc., Kommerling USA, and Milgard Windows & Doors among others.
Further key findings from the report suggest
- Doors enjoyed the dominant market share of more than 60.0% in 2019 in the market under study. China has planned to reach a 60% urbanization rate in the next few years, and such trends across the Asia Pacific region is likely to drive the demand for doors.
- uPVC material is been widely used in the construction sector due to the low cost of the uPVC polymer. The advantage of the material is that it can be reshaped and recycled, which makes it a preferred material for making door and window frames. But strict regulations regarding the usage of the material can hinder the growth rate of the uPVC market.
- China remains the prominent player in the sector, and the country is largely responsible for the growth of windows and doors market in the Asia Pacific region. It is predicted that almost 100 million people will live in urban areas by 2020 as per the China National Urbanization plan. Emerging economies like India, Vietnam, Bangladesh, and Pakistan are also driving the market’s growth in this region.
- The global residential real estate sector is predicted to have a market value of USD 4263.7 billion by 2025. The Asia Pacific and Middle East countries would majorly drive the sector’s growth due to widespread commercial activities and rapid urbanization, which would provide a huge boost to the market under study in these regions. Political turbulence in certain parts of the world is forming a barrier to the sector’s growth.
- Marvin Windows & Doors launched two innovative products named Markvin Skycove and Marvin Skylight in January 2020, which will provide better ways of living and would allow consumers to experience light, air, and the environment.
- Deals Landscape
- Paradigm Window Solutions acquired Vista Window Co. in February 2017 with an aim to expand its geographical presence and to widen its distribution channel.
- In October 2017, Pella acquired Bonelli Windows and Doors in order to enter into the luxury segment of the doors and windows market.
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Rapid developments in the manufacturing sector and equipment, robust growth in the building and construction sector, high adoption for eco-friendly materials in constructions and increasing demand for smart buildings and smart homes are boosting market growth. Steady increase in the disposable income across the globe, improvements in the standard of living, increasing number of redevelopment plans and high demand for aesthetic look and posh homes are further fueling market growth. In addition, increasing R&D investments, and government schemes to support manufacturing and construction industry are fueling growth of the global Windows and Doors market.
For the purpose of this report, Reports and Data have segmented into the global Windows and Doors market on the basis of material types, product, end-user and region:
Product Outlook (Volume, Thousand Units; Revenue, USD Billion; 2020-2027)
Material Type Outlook (Volume, Thousand Units; Revenue, USD Billion; 2020-2027)
End User Outlook (Volume, Thousand Units; Revenue, USD Billion; 2020-2027)
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Detailed Regional Analysis Covers:
- North America (U.S., Canada, Mexico)
- Europe (U.K., Italy, Germany, France, Rest of Europe)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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