New York, USA, Jan. 16, 2023 (GLOBE NEWSWIRE) -- According to a report published by Research Dive, the global interior doors market is projected to garner a revenue of $1,02,543.4 million and grow at a CAGR of 6.3% throughout the analysis timeframe from 2021 to 2028.
As per our analysts, with the growing demand for renovation activities in the residential and commercial segments, the interior doors market is expected to experience a remarkable growth during the forecast period. Besides, the introduction and widescale utilization of e-commerce in the furniture and building materials industry are predicted to fortify the growth of the market over the analysis timeframe. Moreover, the increasing implementation of augmented reality in the interior doors market is predicted to create huge investment opportunities for the market during the estimated period. However, the high initial cost of eco-friendly interior doors may hinder the growth of the market throughout the analysis timeframe.
Segments of the Interior Doors Market
The report has divided the market into segments based on door type, material, mechanism, and region.
Door Type: Panel Door Sub-Segment to be Most Productive
The panel door sub-segment is expected to generate a revenue of $29,948.7 million over the estimated period. The application of panel doors has numerous advantages in the residential and commercial construction of buildings such as making optimal use of available space, providing privacy, and many more, which are expected to augment the growth of the market sub-segment during the analysis period.
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Material: Wood Sub-Segment to be Most Profitable
The wood sub-segment is predicted to garner a revenue of $29,938.6 million throughout the estimated timeframe. The increasing utilization of wood as one of the most important building materials in the residential and commercial construction sectors all across the globe is predicted to foster the growth of the market sub-segment during the forecast timeframe.
Mechanism: Swinging Sub-Segment to be Most Lucrative
The swinging sub-segment is expected to generate a revenue of $36,255.7 million over the analysis period. This is mainly due to the increasing demand for energy-efficient doors in the residential and commercial sectors. In addition, the application of swinging doors has various advantages such as these being easily customizable, highly energy efficient, economical, and requiring less maintenance, which are the factors expected to uplift the growth market sub-segment during the estimated period.
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Asia-Pacific Region to Have Extensive Growth Opportunities
The Asia-Pacific region of the interior doors market is predicted to garner a revenue of $44,042.4 million throughout the forecast timeframe. This is mainly due to the rising growth in commercial infrastructure development and rapid industrialization in developing countries of this region. Furthermore, the increased disposable income among individuals and the increasing demand for interior doors from the residential sector of this region is predicted to drive the regional growth of the market over the analysis period.
Covid-19 Impact on the Interior Doors Market
The outbreak of the Covid-19 pandemic has adversely impacted the global interior doors market. This is mainly due to the decrease in the demand for interior doors from the residential and commercial sectors all across the globe because of delays in construction activities during the pandemic period. Moreover, the reduction in manufacturing activities has disrupted the supply chain from the procurement of raw materials to the delivery of finished goods. All these factors have declined the growth of the market during the period of crisis.
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Key Players of the Market
The major players of the interior doors market include
- Simpson Door Company
- PELLA CORPORATION
- MI Windows and Doors LLC
- ASSA ABLOY
- Cornerstone Building Brands Inc.
- ANDERSEN CORPORATION
- Hörmann International Inc.
- Masonite
- PGT Innovations Inc.
- JELD-WEN Inc.
These players are widely working on the development of new business strategies such as mergers and acquisitions, partnerships and collaborations, and product development to gain a leading position in the global industry- Inquire here to grab full report
For instance, in April 2022, an American company that designs, produces, and distributes interior and exterior doors, wood, vinyl, and aluminum windows announced its new line of Auraline® composite windows and patio doors. This product is designed to meet a key gap in the market for home-building products and to address the rapidly growing demand for more design-focused, sustainable building material options.
Further, the report also presents other crucial aspects including SWOT analysis, the product portfolio, the financial performance of the key players, and the latest strategic development.
More about Interior Doors Market:
- What are the Different Types of Interior Doors Available in the Market?
- Product Launches and Company Acquisitions to Fuel the Growth of the Global Interior Doors Market by 2028
