Windows and Doors Market Size, Share, Competitive Landscape and Trend Analysis Report 2023-2032
Windows and Doors Market Expected to Reach $356.7 Billion by 2032
WILMINGTON, DE, UNITED STATES, November 7, 2024 /EINPresswire.com/ — The windows and doors market has seen substantial growth, largely driven by increased investments in residential and commercial construction. The growing trend of home renovation and remodeling, supported by rising disposable incomes, is further fueling market demand. Additionally, the expansion of urban infrastructure is creating heightened demand for windows and doors. These factors collectively contribute to the market’s growth, driven by both new construction and renovation projects.
According to a recent report, the global windows and doors market was valued at $208.1 billion in 2022 and is expected to reach $356.7 billion by 2032, with a CAGR of 5.5% from 2023 to 2032.
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Market Segmentation Highlights:
By Type: The market is divided into windows and doors. Windows are expected to grow at a higher CAGR due to demand for sustainable buildings that maximize natural light and air flow. However, doors held the largest revenue share in 2022, driven by growth in commercial and institutional buildings.
By Material: The market is segmented into metal, plastic, and wood. In 2022, metal accounted for a significant revenue share due to its durability and suitability for securing external openings. However, plastic is projected to grow at a higher CAGR because of its affordability, light weight, and durability.
By Application: Segments include swinging, sliding, folding, and revolving doors/windows. Swinging applications led the market in 2022, while folding is expected to grow faster, driven by demand for larger windows that allow more light and air.
Urbanization and population growth are driving construction sector expansion, while rising real estate prices and disposable incomes are encouraging home renovations. Despite these positive drivers, market growth faces challenges from fluctuating raw material costs and higher construction expenses. However, the development of technologically advanced doors, which enhance building security, presents new opportunities for growth.
Regional Insights: In 2022, Asia-Pacific led the global windows and doors market in revenue and is projected to grow at the highest CAGR due to infrastructure investments in countries like India, Vietnam, and China.
Impact of COVID-19 and Global Inflation: The COVID-19 pandemic temporarily halted operations in key markets, including the U.S., China, and Germany. Labor shortages and rising raw material costs disrupted supply chains, impacting the industry. While the market is recovering post-pandemic, the global inflation triggered by quantitative easing measures and further exacerbated by the Ukraine-Russia conflict has increased the cost of construction materials, dampening growth prospects.
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Key Findings of the Study:
The report provides comprehensive analysis of trends and dynamics within the windows and doors market.
In 2022, doors dominated in terms of revenue, with metal as the leading material, though plastic is expected to see faster growth.
The folding application segment is anticipated to grow at the highest CAGR during the forecast period.
By end user, the residential segment accounted for a large revenue share in 2022.
Asia-Pacific held the largest market share in 2022 and is projected to continue growing at the highest CAGR through 2032.
Profiles of key market players and their strategies are provided, offering insights into the competitive landscape of the industry.
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