Impact of Covid-19 Outbreak on Door System Market Share

21/mag/2020 14:06:47 Automotive Market Research Reports Contatta l'autore

The global door system market 2020 is slated to achieve moderate growth over the forecast period (2016-2022), reveals Market Research Future (MRFR).

Primary Drivers and Main Barriers

With the continuously evolving lifestyle of people around the world, demand for door types like automatic fiberglass doors has risen significantly over the years. The global door systems market gets a major boost from the surging demand for premium architectural doors combined with the rising number of construction activities in commercial and residential sectors.

Soaring demand for high-quality doors that are low-priced, increasing spending power of people, and evolving lifestyles can benefit the door systems market in the following years. There has been a hike in demand for energy-efficient doors in recent years since these doors help reduce the heat exchange as well as air leakage. Increasing technological advancements along with the surging number of government initiatives attempting to boost the sale of energy-efficient doors are expected to induce market growth in the near future. Also, rising concerns with regard to security can boost the market demand in the ensuing years.

The main barriers in the market growth come in the form of high costs of raw materials as well as low-profit margins incurred by players. Having said that, constant innovations in the door systems, expanding urbanization, and increasing construction of energy-efficient buildings can give rise to various growth opportunities for the door systems market in the coming years. The interior door system market and the home door system market are gaining immense favor all over the world, with the growth in the residential construction sector.

Market Segmentation

Material, technology, and application are the main segments as per which the analysis of the door system market has been carried out in the MRFR report.

The materials-based segments specified in the report are metal, wood, plastic, and glass.

Technology-wise, the door system market has been considered for manual, and automatic.

The applications of door systems are in residential, and non-residential.

Regional Insight

The global door system market has been regionally divided into Europe, North America, Asia Pacific (APAC), and the Rest of the World (RoW).

APAC can grow at the highest rate and also lead by seizing the lion's share of the global market during the appraisal period. The rapidly emerging countries like India and China are increasingly witnessing a massive population pool migrating from rural areas to urban areas, which is the result of the strengthening economic growth rate. This is deemed to help the door system market expand in the region, over the next couple of years. The market, in the forthcoming period, also stands to benefit from frequent technological advancements as well as the introduction of automation by manufacturers.

Sizeable investments in residential construction paired with the increasing need to modernize the existing buildings can boost the growth of the North America door system market in subsequent years. Flat hourly wages, household deleveraging along with the slack in the labor industry have led to the development of residential construction, especially in the United States (U.S). In addition, rising number of construction activities in the commercial sector such as schools and hospitals because of the positive demographic trends as well as government policies gives a major push to the market growth in the region.

High disposable income coupled with the rising focus on creating new residential buildings among manufacturers will ensure better growth prospects for Europe in the global door system market. Mounting consumer demand for energy-efficient as well as customization can work in favor of the door system market in the region over the coming years.

Top Competitors

Top participants in the door system market include ASSA ABLOY (Sweden), Jeld Wen, Inc. (U.S.) DuluxGroup Limited (Australia), Masonite International Corporation (U.S.), Allegion plc, (Ireland), Andersen Corporation (U.S.), PGT, Inc. (U.S.), Masco Corporation (U.S.), Ply Gem Holdings Inc. (U.S.), and others.

 

Note: The COVID-19 pandemic disruption is estimated to transform the XX market in the years to come drastically, and its after-effects will be persistently seen in the years ahead. The MRFR report on the XX market meticulously tracks the COVID-19 pandemic effect for the years ahead. Moreover, the precise analysis of drivers and restraints in a post-COVID-19 market offers a coherent understanding of future growth cues.

blog comments powered by Disqus
Comunicati.net รจ un servizio offerto da Factotum Srl