New York, Sept. 01, 2022 (GLOBE NEWSWIRE) -- The global hollow metal doors market is estimated to increase at a value CAGR of 3.6% and reach a market revenue of US$ 4.82 Bn by the end of 2032, according the detailed industry analysis by Persistence Market Research.
Since security is a concern in every working environment, there is growing demand for hollow metal doors across the industrial, residential, and commercial sectors. Factor such as durability, strength, security, lightweight, robustness, resistance to a harsh environment, less maintenance, and well-insulated materials are driving the global market for hollow metal doors. Sales have also been supported by rising customer preference for hollow metal doors as a better alternative to wooden doors.
Significant improvements in hollow metal door designs, manufacturing techniques, and core material have been achieved to fulfill shifting market demands and application-specific requirements to maintain market competitiveness.
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Key Takeaways from Market Study
- By product type, flush hollow metal doors and paneled hollow metal doors are projected to hold a market volume share of around 60% by 2032.
- The honeycomb core material segment is anticipated to hold the largest market share of more than 30%.
- By end use, the industrial sector is projected to create an absolute $ opportunity of US$ 547.5 Mn by 2032.
- By region, East Asia and North America are expected to account for more than half of the global market share.
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“Increasing construction of residential & commercial spaces and growing industrialization are expected to have a beneficial effect on market growth,” says a Persistence Market Research analyst.
Market Landscape
To improve product reliability, manufacturers are working to develop techniques for hollow metal doors taking into account end-user requirements. Companies are expanding their market presence by equipping hollow metal doors with advanced features to provide the perfect combination of security and different door styles.
Some of the key hollow metal door manufacturers included in the report are ASSA ABLOY, Beacon Metals & Hardware Inc., Deansteel Manufacturing Co Inc., Overly Door Co., Door Components Inc., Apex Industries Inc., Dunbarton Corporation, Mesker Door Inc., Eightynine, LLC, Quality Engineered Products Co., and Houston-Starr Company.
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Conclusion
Increasing demand from end-user sectors such as commercial, industrial, and residential is expected to fuel the growth of the hollow metal doors market over the coming years. The market is expected to grow as more people now prefer buying metal doors over other material-based doors.
Hollow metal doors have various advantages as compared to regular wooden doors. Manufacturers are focusing on expanding their product portfolios through merger & acquisition activities with other market players.
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Want to Know More?
Persistence Market Research, a research and consulting firm, has published a revised market research report on the hollow metal doors market that contains global industry analysis of 2017–2021 and opportunity assessment for 2022–2032.
The report provides in-depth analysis of the market through different segments, namely, product type, core material, end use, and region.
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