Consumer & Luxury Goods Market Research News

New report: Window and door market forecast to 2023

MaketStudyReport.com adds a new Window And Door market research report for the period of 2016-2023 that shows the market is growing at steady CAGR to 2023.

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Positive construction spending and renovation in existing constructions are expected to drive industry demand. Rising population would support the global window and door 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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Window And Door Market size is expected to reach USD 137.2 billion by 2024; according to a new research report.

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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.

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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 door and window 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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