Selbyville, Delaware, Aug. 03, 2021 (GLOBE NEWSWIRE) --
The stationary air compressor market revenue is anticipated to record a valuation of USD 225 billion by 2027, according to the most recent study by Global Market Insights Inc. The implementation of favorable policies and advanced technologies related to smart grids, urban transportation, industrial automation, water management, and parking systems. Likewise, the rapid surge in construction and infrastructural developments globally to improve the quality of life will further boost the need for windows and doors fittings.
Rapid urbanization, rising middle-class per capita income, and growing residential and non-residential activities have been observed across emerging nations such as India and China in recent years. This factor, alongside the strong focus on renovating and modernizing institutional and commercial structures like apartments, office buildings, and hospitals will further escalate the industry growth in the coming years.
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- Rapid implementation of policies to develop eco-friendly buildings
Considering the application spectrum, the global windows and doors market from the residential segment is poised to depict a CAGR of 5.3% through 2027. This is attributable to the increasing renovation and replacement activities due to the emerging trends in green building practices. In North America, certain regulations have been imposed to ensure the mandatory use of green and energy-saving materials in residential buildings. For example, the National Green Building Standard or ICC 700 was implemented to improve the environmental and health performance of such buildings.
Based on material, the metal doors and windows segment registered a revenue of around $35 billion in 2020, on account of lightweight characteristics as compared to steel and copper. Aluminum, for instance, is one of the extremely light metals, weighing approximately 2.7 g/cm^3. This lightweight factor has made it more ideal for the development of different window and door frames, which could contribute to industry growth from the segment.
- Shifting trends in residential construction investment during COVID-19
In the wake of the COVID-19 pandemic, the construction sector witnessed a steep decline in share during 2020. The outbreak has disrupted the normal business rhythm, including that of the door industry due to the surge in raw material prices. This industry heavily relies on glass, plastic, metal, and other raw materials for manufacturing and processing products. These aforementioned factors may create roadblocks to the steady growth of the windows and doors market.
After the sharp dip in residential constructions amid the pandemic, however, investment interest in this sector has spiked over the past months. In the U.S., the seasonally adjusted annual rate for spending on residential development recorded a low of $547 billion in May 2020. However, it significantly recovered to the pre-lockdown levels by August in the same year, registering over $600 billion, then has topped over $700 billion every month since December, representing the significant scope of windows and doors market.
- Robust demand for high-quality doors with minimal maintenance in Europe
From a regional perspective, the Europe windows and doors industry is set to exhibit a CAGR of 4.5% through 2027. This strong growth trajectory is a result of the rapidly increasing population and the subsequent increase in residential as well as commercial construction activities. Furthermore, rising investments in smart homes and high-quality houses aimed at robust growth of the housing sector, will stimulate the regional industry outlook. These factors have also led to the accelerating demand for tamper- and fire-resistant steel, glass, and aluminum doors with minimal maintenance and long service life, particularly in commercial projects.
Key market participants operating in global windows and doors market include Anderson Corporation, ATIS Group, Deceuninck NV, RENSON, and Nawa International, among others. These companies are focusing on varied strategies like new product developments and mergers and acquisitions to meet the growing product demand in the global market. For instance, Deceuninck Aluminium unveiled its new Decalu88 French Door in April 2021, designed to maximize manufacturing efficiencies and minimize stockholding, thus delivering time savings of up to 40%.
Sustainability and energy efficiency have rapidly become imperative in business operations across myriad industrial sectors, especially construction. Mounting development of green buildings, increasing renovation and replacement activities, as well as robust adoption of lightweight building materials, will therefore contribute greatly to windows and doors market expansion over the upcoming years.
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