New York, US, March 08, 2023 (GLOBE NEWSWIRE) -- Bifold Doors Market Overview
According to a Comprehensive Report by MRFR/Market Research Future (MRFR), Bifold Doors Market Information By End-Users, By Outlook, By Material Type, By Application, and Region - Forecast till 2030", In 2021, the Bifold Doors Market was worth USD 9.32 billion and can touch USD 14.67 billion by 2030. Additionally, it will attain a CAGR of 5.80% between 2022 and 2030.
Market Synopsis
Bifold doors refer to foldable doors that open and close in pieces by sliding and folding. They are made up of a series of panels with various locking points that may be installed in gates, patios, and other indoor and outdoor areas. They are usually available in room divider, closet door, raised panel door, and flat panel door varieties for usage in tiny places such as pantries, wardrobes, laundry rooms, and gardens. Wood, glass, vinyl, fiberglass, unplasticized polyvinyl chloride (uPVC), and aluminum are all used to make bifold doors. They provide natural insulation as well as increased durability, customization, and sound absorption. They require little upkeep and are both cost-effective and environmentally beneficial. As a result, they are widely employed for residential, commercial and industrial applications.
Market Competitive Landscape:
The affluent companies in the bifold doors industry include
- Andersen Corporation
- JELD-WEN Inc.
- Pella Corporation
- Ply Gem Industries Inc.
- AG Millworks
- Associated Windows & Conservatories
- ATIS Group
- AWM Building Maintenance Ltd.
- Cascade Windows Inc.
- Brennan Enterprises
- Among others.
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Report Scope:
| Report Attribute | Details |
| Market Size in 2030 | USD 14.67 billion by 2030 |
| CAGR | 5.80% (2022-2030) |
| Base Year | 2021 |
| Forecast Period | 2022–2030 |
| Historical Data | 2020 |
| Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Product, By Application and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | High growth rate in coming time due to the investment by manufacturers |
With the presence of both global and local firms, the global market is oligopolistic by definition. The majority of the players invest heavily in the research and development of a wide range of high-performance and high-quality goods that strengthen the structure and make it last for an extended period of time. Businesses are constructing manufacturing operations in other countries, notably in Asia, to capitalize on the rising development potential.
Market USP Covered:
Market Drivers:
One of the key reasons for the expansion of the Bifold Doors Market is the increase in the hotel and restaurant industries. As in current times, the development and technological improvement in designing interiors and exteriors pave the way for the Market Size to rise. Furthermore, rapid development in government policies and population growth are also good market drivers. The benefits of employing bi-fold doors for interiors are the key cause for the market's growth. Other advantages are that they take up less room, are more energy efficient, require less maintenance, and are environmentally friendly.
One of the primary causes for the growth of the Bifold Doors Market is the large number of reconstruction projects that have begun across the regions. Rather, one of the primary causes for growth is the use of bifold doors in infrastructure. The key potential opportunity for the Bifold Doors Market Size is the development and use in green buildings. The rapid expansion of green buildings in recent years in many countries as a result of increased environmental awareness is also one of the primary factors for the Market's growth.
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Market Restraints:
The expansion of infrastructure growth in the construction sectors has fueled the growth of the Bifold Doors Market in recent days. Yet, there is a restraining factor that has a negative impact on the market. One of the biggest impediments to expansion is the high cost-effectiveness in the installation procedure.
Another impediment to the growth of the Bifold Doors Market is the spread of the pandemic over the world, which caused a disruption in the supply of raw materials due to a lack of transportation. This also impedes growth in the highest range.
COVID 19 Analysis
COVID-19 has affected people's health all across the world. The aftermath has had a massive social and economic impact on people all around the world. Humans are suffering from a series of mental traumas as powerful governments implement new frameworks and industries embrace advanced forms of expansion in order to remain relevant.
Increasing cases have increased emotional and economic issues around the world, especially among the elderly. Likewise, the younger generation is dealing with the implications of employment loss by relying on family care. The emphasis is primarily on COVID-19 therapy and vaccine research, which is detracting attention from other markets. This has had an effect on the market for bifold doors.
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Market Segmentation
By End-Users
Industrial, residential, and non-residential like colleges, schools, government buildings and offices are the key industry end-users.
By Outlook
French doors, sliding pocket doors, and sliding patio doors are the key outlook-based segments considered in the study.
By Material Type
Aluminum, Wood, Glass, Metal, Fiberglass, Vinyl, and PVC are the major material types covered in the report.
By Application
Interior doors as well as exterior doors are the top applications of bifold doors.
Regional Insights
During the projected period, the North American market is expected to account for a much bigger revenue share. The growing population, the expanding construction industry, and the rising trend and use of bifold doors for office spaces, residential areas, hotels, balconies, and patio doors are all driving expansion in the North American bifold doors market. Furthermore, growing investments in innovations and stylish designs by regional manufacturers are propelling market expansion.
Key businesses, particularly in developing Asia Pacific countries, are investing in boosting output to meet global demand from many sectors. In Asia Pacific, countries such as India, China, and Japan have high number of bifold door product manufacturers, which is a key factor projected to boost market expansion in the region.
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