Ocean View, Delaware, Nov. 08, 2016 (GLOBE NEWSWIRE) -- Window And Door Market size was valued at over USD 82 billion in 2015 and is forecast to grow at 5.6% CAGR from 2016 to 2024; according to a new research report by Global Market Insights, Inc.
Positive construction spending and renovation in existing constructions are expected to drive industry demand. Rising population would support the global windows and doors market share for new constructions serving residential, commercial and commodity requirements. Commercialization, improving government & state finances and public funding in emerging economies such as Indonesia, Thailand, and India will further enhance business growth.
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Introduction of latest technologies such as use of uPVC instead of aluminum and wood would propel the demand for these systems owing to its lower weight, fully recyclable property, lesser maintenance, and thermal insulation. UK window and door market size is expected to grow at 4.7% CAGR, owing to the regulatory reforms promoting the use of energy efficient insulations to minimize carbon footprints. Rising awareness among the people and regulatory bodies may negatively impact the uPVC window and door market share over the forecast timeline.
Substandard housing in emerging markets will bring in huge investments in the trending smart homes and quality housing in the coming years, which will provide a stable growth platform for the industry over the forecast timeline. Moreover, the residential construction market growth will draw consistent demand for the industry. India is set to witness strong increases, which can be traced largely owing to the rise in middle class income and more rapid industrialization. Carpenters and craftsmen still do much fabrication at building sites, due to a lack of standard product sizes.
Wood profiles are comparatively more environmental friendly than aluminum and uPVC counterparts, which are also featured with attributes such as better aesthetics, longer life cycle, better insulation, lesser carbon emissions, optimized waste generation, and high performance. However, owing to its high costs, the cost sensitive construction industry and other consumer applications may not witness significant adoption rates.
Technology innovation, integrated with security sensors for safety concerns would fuel the demand for new profiles over the forecast period. Infrastructural development in emerging economies would draw huge demands for window and door market share over the forecast timeframe. Increasing constructions in healthcare, education, and retail sector would offer potential growth opportunities from 2016 to 2024.
Browse key industry insights spread across 315 pages with 386 market data tables & 16 figures & charts from the report, “Window And Door Market Size By Material (uPVC, Wood, Metal), By Application (Residential [New Residential, Improvement & Repair], Commercial [New Commercial, Improvement & Repair]), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, Italy, France, Russia, Belgium, Poland, China, India, Japan, South Korea, Indonesia, Malaysia, Mexico, Brazil, Saudi Arabia, Qatar, UAE, South Africa), Application Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2024” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/window-and-door-market
Key insights from the report include:
- uPVC has developed into the preferred material for door and window profiles due to its lightweight, recyclability and low maintenance. The segment was valued at USD 27.5 billion in 2015 and would reach USD 47 billion by 2024.
- Wood window and door market size accounted for over 28% of the overall revenue in 2015 and would grow at 5.7% from 2016 to 2024. High thermal resistance, aesthetic looks and easy availability of timber would support the growth over the forecast period.
- Residential window and door market size was valued at more than USD 45 billion in 2015. Increasing expenditure on construction activities to improve residential, infrastructure, and aesthetic beauty in the developed economies of Europe and North America are expected to support the future growth of the industry.
- The Chinese government has issued various laws to minimize the use of wood, which has played a significant role in the development of uPVC profiles. The country accounted for over 50% of the overall Asia Pacific doors and windows system market share in 2015.
- Rising awareness regarding benefits of uPVC and lesser maintenance would trigger its use in the new residential construction market.
- Major players are Andersen, Atrium, Corialis, Eurocell, Masco, Pella Corporation, Reynaers and YKK Corporation. Focus on new product development and mergers & acquisitions, to enhance regional presence and product portfolio are the key strategies applied to retain window and door industry share.
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Window and door market research report includes in-depth coverage of the industry, with estimates & forecast in terms of volume in kilo tons and revenue in USD million from 2013 to 2024, for the following segments:
- Window And Door Market By Material
- uPVC
- Wood
- Metal
- Window And Door Market By Application
- Residential
- New Residential
- Improvement & Repair
- Commercial
- New Commercial
- Improvement & Repair
The above information is provided on a regional and country basis for the following:
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Belgium
- Russia
- Poland
- Asia Pacific
- China
- India
- Japan
- South Korea
- Indonesia
- Malaysia
- Latin America
- Brazil
- Mexico
- MEA
- Saudi Arabia
- UAE
- Qatar
- South Africa
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About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.