New York, USA, July 21, 2021 (GLOBE NEWSWIRE) -- According to Research Dive, the global interior doors market is estimated to generate a revenue of $102,543.4 million by 2028, and grow at CAGR of 6.3% over the forecast period (2021 to 2028). As per our analysts, the growing rate of urbanization along with the increase in people’s disposable income and the rapid expansion of renovation and furnishing activities across the globe are the major factors anticipated to propel the growth of the global interior doors market in the coming years. Moreover, the prominence of advanced technologies in interior doors is expected to create huge growth opportunities for the global market by 2028. However, the high costs of ecofriendly interior doors and the lack of awareness regarding the benefits of interior doors in underdeveloped countries are estimated to restrict the market growth in projected timeframe.
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Impact of COVID-19 on the Industry
The COVID-19 pandemic has impacted the global interior doors market in a negative way. The delay in construction projects and activities has adversely affected the overall market. Besides the disruption in supply chain of raw materials due to lockdown restrictions and the declining demand from residential and commercial sectors across the globe. However, various organizations around the world are taking measures and adopting numerous strategies t recover the losses during pandemic period.
Panel Door Sub-segment to Have Dominant Market Share
By door type, the panel door sub-segment accounted for $18,678.4 million in 2020 and is projected to hold a dominating market share during the forecast period. This is mainly due to increasing rate of urbanization and the upsurging demand for commercial and housing purposes across the globe.
Wood Sub-segment to Hold Largest Market Share
By material, the wood sub-segment is anticipated to account for the majority of market share and surpass $29,938.6 million by 2028. This is mainly because wood is one of the most important material that is increasingly used in the commercial and residential construction activities.
Swinging Sub-segment to Observe Significant Growth
By mechanism, the swinging sub-segment is projected to observe fastest growth and generate $36,255.7 million by 2028. This is majorly because swinging doors are more cost-effective and require lesser maintenance than the folding, sliding, and revolving doors.
Asia Pacific Region to Grow at Fastest Rate
By region, the Asia Pacific interior doors market valued is projected to grow at the fastest rate and reach up to $44,042.4 million by 2028. The significant growth of the region is mainly due to rapid industrialization and the rising demand for the interior doors form the residential sector in the region.
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Prominent Market Players
Some of the top players of the global interior doors market are:
- PGT Innovations, Inc.
- JELD-WEN, Inc.
- Hörmann International Inc.
- Masonite
- MI Windows and Doors, LLC
- ASSA ABLOY
- Simpson Door Company
- ANDERSEN CORPORATION
- Cornerstone Building Brands, Inc.
- PELLA CORPORATION
These players are applying numerous strategies to gain a strong hold and competitive edge in the global industry.
For instance, in January 2021, Grupsa, a leading company involved in designing and manufacturing of door systems, announced the launch of its new range of ‘Balance System’ for ‘Balanced Doors,’ for installation in interior as well as exterior environments. Balance System is an option for installation in interior areas, corridors, and exterior entrances.
Further, the report summarizes and outlines various aspects of these key players such as product portfolio, business performance, SWOT analysis, and many more. Quick Download Top Companies Development Strategies Summary Report
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