January 21, 2022 06:03 ET | Source: Research and Markets Research and Markets
Dublin, Jan. 21, 2022 (GLOBE NEWSWIRE) -- The "Door Systems - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Door systems have witnessed increased infusion of technology into them in the recent years, which has also been contributing to market growth. For instance, programmed fiberglass systems are available in the market currently. Demand is also increasing for more durable doors that limit exchange of warmth and air spillage. Enhanced security offering door systems are witnessing strong demand growth both from commercial and residential end-use sectors. Demand is especially high in urban centers because of increasing urbanization and infrastructure development. Efficient noise control door systems are in high demand to avoid distraction and to help improve the productivity of working environment. Amid the COVID-19 crisis, the global market for Door Systems estimated at US$205 Billion in the year 2020, is projected to reach a revised size of US$276.7 Billion by 2026, growing at a CAGR of 5.1% over the analysis period.
Wood, one of the segments analyzed in the report, is projected to grow at a 5.4% CAGR to reach US$151.6 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Metal segment is readjusted to a revised 5.1% CAGR for the next 7-year period. This segment currently accounts for an 18% share of the global Door Systems market. Metal doors made out of metal have accurate dimensions and offer high durability, providing a long-lasting solution. The doors are highly resistant to corrosion and act like a barricade, protecting the structure from earthquakes and storms. The Door Systems market in the U.S. is estimated at US$45 Billion in the year 2021. The country currently accounts for a 21.22% share in the global market. China, the world's second-largest economy, is forecast to reach an estimated market size of US$59.9 Billion in the year 2026 trailing a CAGR of 7.3% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.5% and 3.8% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.1% CAGR while the Rest of European market will reach US$64.3 Billion by the end of the analysis period. Increasing discretionary spending among people in fast emerging countries like India and China is creating strong demand growth scenario for door systems in Asia-Pacific region. The pandemic had also led to increased interest in door systems upgradation in the recent years. Polyvinyl Chloride (PVC) doors are regarded as good choice for the structures as they are durable and affordable. The resilience of vinyl doors enables them to defend the impacts of weather and also to remain stable when exposed to various temperatures. In the global Plastic segment, USA, Canada, Japan, China and Europe will drive the 4.3% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$22.9 Billion in the year 2020 will reach a projected size of US$31.1 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$5.3 Billion by the year 2026, while Latin America will expand at a 5.3% CAGR through the analysis period. Select Competitors (Total 119 Featured):
Key Topics Covered: 1. MARKET OVERVIEW
2. FOCUS ON SELECT PLAYERS 3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE III. MARKET ANALYSIS IV. COMPETITION
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