Portland, OR, June 29, 2020 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global automatic door market generated $22.40 billion in 2018, and is estimated to reach $41.74 billion by 2026, registering a CAGR of 7.8% from 2019 to 2026. The report offers an extensive analysis of changing market dynamics, top winning strategies, business performance, top investment pocket, and competitive scenario.
Rapid growth in urbanization & industrialization, rise in number of residential & non-residential construction projects, and surge in spending on home remodeling drive the growth of the global automatic door market. However, high initial investment and maintenance costs hinder the market growth. On the other hand, increase in concerns for safety & security across the globe create new opportunities in the coming years.
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Covid-19 scenario:
- During the coronavirus pandemic, the automatic doors have been proved useful to avoid physical contacts with door handles and control the transmission of coronavirus.
- However, the manufacturing activities have been halted by manufacturers due to the restrictions by the government during the global lockdown.
- The new installations of automatic doors have been postponed due to the operational disruption in the construction industry.
The report offers a detailed segmentation of the global automatic door market based on type, end user, and region.
Based on type, the sliding segment held the largest share in 2018, accounting for more than two-fifths of the total share, and is estimated to maintain its dominant position during the forecast period. Moreover, the same segment is expected to witness the highest CAGR of 8.4% from 2019 to 2026.
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Based on end user, the commercial segment accounted for the largest share in 2018, holding nearly half of the total share, and is expected to maintain the largest share throughout the forecast period. However, the residential segment is estimated to portray the highest CAGR of 8.7% during the forecast period.
Based on region, Asia-Pacific contributed the highest share, accounting for nearly half of the total market share in 2018, and will maintain its dominance throughout the forecast period. Moreover, the same segment is expected to grow at the highest CAGR of 9.1% from 2019 to 2026.
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Leading market players analyzed in the research include Deutschtec GmbH, Royal Boon Edam International B.V, GEZE GmbH, MANUSA GEST, S.L., ASSA ABLOY Group., Stanley Black & Decker, Inc., Nabtesco Corporation, dormakaba Holding AG, Rite-Hite Holding Corporation, and Sanwa Holdings Corporation.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.