rise in investment in various end-user industries such as residential and non-residential construction. A number of players have expanded their business globally, owing to increased customer base, enhanced effective operations, developed product portfolios, and expanded geographical reach.global windows and doors market size was $217.9billion in 2020 and is expected to reach $356,483.6million by 2030, registering a CAGR of 4.9% from 2021 to 2030. In 2020, Asia-Pacific dominated the global market accounting for 49.6% share of the market.
Increase in residential & non-residential construction and surge in home remodeling & renovation expenditures drive the windows and doors market growth. In addition, surge in construction spending in countries such as India, Germany, Japan, and the U.S. boosts the growth of the market. For instance, according to U.S. Census Bureau, the spending on construction has increased by nearly 9.3% from November 2020 to November 2021.
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By product type, the market is segmented into windows and doors. The windows segment held the largest market share in 2020, and is expected to maintain its dominance during the forecast period. The doors segment is anticipated to grow at the highest growth rate owing to rise of multifamily housing trends. Moreover, rise in consumer spending on home improvement and growth in new construction activities are expected to provide opportunities for market development.
On the basis of material type, the windows & doors market is segmented into wood, metal, and plastic. Metal segment dominated the doors segment owing to its thermal insulation properties, high strength, strong aesthetics, and high utility of this material in the interior doors segment. The residential segment is anticipated to witness increased usage in light commercial & institutional applications, and is anticipated to show the highest growth rate.
The market is categorized on the basis of mechanism into swinging, sliding, folding, revolving, and others. Sliding segment leads the windows market owing to the increased adoption of double-hung windows and shift toward space-efficient homes.
However, high price packages for eco-friendly products are projected to hinder the market growth. Conversely, increase in construction of buildings is predicted to offer lucrative opportunities for the global market development.
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Several manufacturers in the global market stopped their business activities due to lockdown implemented in developed and developing countries in 2020, owing to ban on construction activities. This halt in production activities impacted the revenue of the windows and doors manufacturing companies. For instance, net sales of JELD-WEN dropped by 1.3% from January 2020 to December 2020. In addition, lack of man power and raw materials affected the supply chain of the global windows and doors market. However, the market is projected to recover in the coming months due to reduced restrictions and reopening of the global windows and doors industry. Moreover, with the availability of vaccine against COVID-19, the global market is expected to gradually witness growth.
The global windows and doors market is segmented on the basis of product, material, end user, and region. Based on product, the market is segmented into windows and doors. The windows segment dominated the market in 2020. Based on material, the market is divided into wood, metal, and plastic. The metal segment dominated the market in 2020. Based on mechanism, the market is divided into swinging, sliding, folding, revolving, and others. The sliding segment dominated the market in 2020. Based on end user, the market is divided into residential and non-residential. The residential segment dominated the market in 2020.
Regionally, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, and rest of Europe), Asia-Pacific (China, Japan, India, Australia, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). Asia-Pacific generated the highest revenue in 2020.
The key players profiled in the market report include Anderson Corporation, Atrium Corporation, Horton Automatics, JELD-WEN Inc, Lixil Group Corporation, Marvin Windows and Doors, Inc., MI Windows and Doors, Masco Corporation, Pella Corporation, YKK Corporation.
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Key Findings Of The Study
- The report provides an extensive analysis of the current and emerging global windows and doors market trends and dynamics.
- By product type, the windows segment dominated the windows and doors market share, in terms of revenue in 2020, and the doors segment is projected to grow at a CAGR of 7.4% during the forecast period.
- By material, the metal material segment registered highest growth in the global windows and doors industry in 2020.
- Based on end user, the residential segment is projected to register the highest growth rate in the coming years.
- The report provides an extensive analysis of the trends and emerging opportunities of the market.
- In depth, the global windows and doors market analysis is conducted by constructing estimations for the key segments between 2020 and 2030
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