Windows and doors are essential components of any building, serving both functional and aesthetic purposes. They allow natural light and air to enter the building while also providing security and privacy. In this blog, we will explore the different types of windows and doors, their advantages and disadvantages, and what to consider when choosing them for your home or business.
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According to a new report published by Allied Market Research, titled, โWindows and Doors Market,” The windows and doors market size was valued at $208.1 billion in 2022, and is estimated to reach $356.7 billion by 2032, growing at a CAGR of 5.5% from 2023 to 2032.
The growth of the windows and doors market is driven by increase in investments in the construction of residential and nonresidential buildings. In addition, rise in trend of home renovation and remodeling driven by the increased disposable income notably contributes toward the market growth.
Depending on the type, the market is segregated into windows and doors. Among these, the windows segment is expected to grow with a higher CAGR during the forecast period, owing to a rise in demand for sustainable buildings that require additional natural light and exchange of air between the external and internal environment of the building. The doors segment accounted for a higher windows and doors market share in terms of revenue in 2022, attributed to rise in number of commercial and institutional buildings. On the basis of material, the market is categorized into metal, plastic, and wood. Among these, the metal segment accounted for a substantial share in 2022, in terms of revenue. This is attributed to the fact that metal is a strong material and is suitable for exterior doors and windows to secure the house or building from any forceful entry. On the contrary, the plastic segment is anticipated to grow with a higher CAGR owing to its low price, lightweight, and durability. By application, including swinging, sliding, folding, and revolving & others. Among these, the swinging segment was the highest revenue grosser in 2022. On the other hand, the folding segment is anticipated to grow with a higher CAGR during the forecast period, attributed to increasing demand for wider windows that allows large amount of light and air into the building.
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The market is mainly driven by rapid urbanization coupled with exponential rise in population, which, in turn, is driving the growth of the construction sector. In addition, the trend of home renovation is becoming popular with increasing disposable income and rising cost of real estate, which is expected to boost the market growth. However, factors such as fluctuating costs of raw materials required to construct windows and doors and increase in costs of construction are anticipated to restrain the market growth. Contrarily, the development of technologically advanced doors that enhance the security of buildings and homes is expected to provide lucrative opportunities for market expansion; thereby, positively affecting the windows and doors market overview.
In 2022, Asia-Pacific dominated the global windows and doors market, in terms of revenue, and the is anticipated to grow with the highest CAGR, owing to increased investments in infrastructure development in countries such as India, Vietnam, and China.
However, various businesses in the windows and doors market had to stop in countries such as India, China, Vietnam, Germany, and the U.S. during the pandemic. This break directly impacted the windows and doors industry. In addition, lack of manpower and increased cost of raw materials constricted the supply of materials used for making various windows and doors, which negatively influenced the growth of the windows and doors market. However, owing to the introduction of vaccination, the severity of the pandemic has significantly reduced and key players in the market are recovering rapidly. However, the exponential growth of COVID-19 cases in China was an event of concern for the entire world. Moreover, the quantitative easing of the economy done during COVID-19 by many countries across the world led to worldwide inflation, which is having a very negative impact on the growth of all industrial sectors including the construction sector. Most of the construction materials have become expensive, eventually declining the windows and doors market growth. In addition, inflation has also been boosted by the Ukraine-Russia war, which led to an increase in oil & gas prices.
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Key findings of the study
- The report provides an extensive analysis of the current and emerging windows and doors market trends and dynamics.
- Depending on the product, the doors segment dominated the windows and doors market, in terms of revenue in 2022.
- By material, the new metal segment accounted for a higher revenue share of the market share in 2022, and the plastic segment is anticipated to grow with a higher CAGR.
- By application, the folding segment is anticipated to grow with the highest CAGR during the forecast period.
- On the basis of end user, the residential segment acconted for a large revenue share in 2022.
- Asia-Pacific dominated the market in 2022, and is projected to also dominate the windows and doors market forecast by growing with a higher CAGR.
- The key players within the windows and doors market are profiled in this report, and their strategies are analyzed thoroughly, which help understand competitive outlook of the windows and doors industry.
- The report provides an extensive analysis of the current trends and emerging opportunities in the market.
- In-depth windows and doors market analysis is conducted by constructing estimations for the key segments between 2023 and 2032.