The global windows and doors market is expected to witness significant growth on account of rapidly progressing residential and commercial segments of the construction industry. An increase in renovation and remodeling activities for homes and rising expenditure by consumers on home improvement activities are projected to propel the product demand. Factors such as increasing population, consumer inclination toward remodeling their homes, and government initiatives aimed at offering affordable housing to people are expected to drive the market growth.
Windows and doors market can be segmented based on material type into steel, aluminum, plastic, wood, and glass. The material is chosen based on durability and aesthetic value. Doors made from solid core timber are commonly used for front gates to avoid unwanted sound and for proper security. Aluminum doors are used for making garage doors and shutters, owing to their durability, affordability, and less weight. Steel, owing to its good strength, is used for making grills and used in premises that need high security.
Glass is mostly used for the construction of terrace sliders and windows as it imparts an attractive look to the overall setup. The strength of sliders and windows depends on the way they are made and handled. Vinyl is primarily used for making frames for glass-based doors, owing to its strong molecular structure, lightweight, and cost. Mirrored and fiberglass doors & windows are a new addition to the market as fiberglass offers good waterproofing and soundproofing qualities to homes, and mirrors create an illusion of space in rooms. Both styles of doors are mainly used for wardrobes and terrace. Fibrex by Andersen Corp., made from epoxy resin and wood fibers, is being widely used in window frames as it does not rot or decay over time. Thus, increasing their lifetime and doesn’t require any wood treatment processes and painting.
The windows and doors market can be further segmented based on end-users into residential, commercial, healthcare, education, hospitality, and retail. All the segments are expected to hold a fair share of the market owing to technological innovations and the rapid growth of infrastructural development in all of these areas.
The innovation of smart windows and doors has revolutionized the market. They can be operated via smartphones and tablets, thus increasing home safety, comfort level, accessibility, and offering real-time monitoring. f, technologies like biometric scanners are widely used all over the world in commercial spaces and hotels to restrict the entry of unauthorized personnel. Advanced technologies and gadgets such as CCTV cameras and scanners are also used in residential areas to ensure safety and privacy.
Rapid urbanization, commercialization, and heavy investments in building secure office spaces are some of the factors that are anticipated to drive the growth of windows and doors market. In addition, consumers are increasingly renovating their traditional homes with smart home technology, where everything is connected and operated from a single server and home devices inclusive of windows, doors, televisions, and taps can be monitored from distant locations. This increases safety and durability as well as the value of residential structures.
The increasing inclination of consumers toward smart homes has urged the builders and construction companies to adopt these technologies, thereby propelling the demand for technology-enabled windows and doors. In this case, the high cost of installation of these devices is the biggest restraining factor, owing to which construction and furnishing companies such as Ceco doors are partnering up with smart home tech companies such as Assa Abloy, to lower down the installation cost for companies, thus increasing their profitability.
As per the World Economic Forum report, less than 15% of cities in the world have affordable housing, over 50% of the population in Africa resides in substandard housing conditions, and more than 25% of the population in China & India does not have access to affordable housing. Owing to these factors, governments of countries like India, China, and South Africa are working on various programs such as, "Housing provident fund", "Pradhan Mantri Awaas Yojana", and "Empower shack". Such schemes in these countries are expected to fuel the growth of the construction industry and various other associated industries, such as the windows and doors industry.
The market is projected to witness high growth in regions such as the Asia Pacific and Middle East & Africa owing to various government initiatives for the development of affordable residential spaces as well as commercial and industrial spaces for the settlement of local and multinational corporations for growth of developing countries in these regions in terms of production and employment. Besides, rapid development and incorporation of smart home technologies in developed countries of North American and European regions are further expected to fuel the market growth.
The major players operating in the windows and doors market are Andersen Windows & Doors, Jeld-Wen, Marvin Windows & Doors, Masonite, Ply Gem Residential Solutions, Pella Corporation, Velux Group, YKK AP America Inc., Kommerling USA, Milgard Windows & Doors, PGT Innovations, Starline Windows, Therma-Tru Doors, and Harvey Building Products. Harvey building products acquired companies such as Thermo-tech, North East Building products, and Soft-Lite to expand into new markets and extend its smart home technologies portfolio. In addition, companies like YKK-AP and Starline have moved to larger manufacturing facilities to increase their production capacity.
NEED A CUSTOM REPORT?
We can customize every report - free of charge - including purchasing stand-alone sections or country-level reports, as well as offer affordable discounts for start-ups & universities. Contact us now
ESOMAR & Great Work to Place Certified
ISO 9001:2015 & 27001:2022 Certified
"The quality of research they have done for us has been excellent."
The mining industry accounts for a vital share of the global economy and is responsible for supplying key raw materials for several applications and end-use industries, thus being a key sector of focus amidst the ongoing pandemic outbreak. Mining industries in China are expected to return to normal operations by Q3 of 2020 as enterprises indicated towards the returning of their workers soon. Moreover, Iron ore producers are known to be the least impacted. Major players such as BHP and Vale reported experiencing no major influence on their operations due to the COVID-19 virus. The iron ore prices reached above USD 90 per ton amidst the pandemic situation which may negatively impact the end-use industries. The report will account for Covid19 as a key market contributor.