The growth of the housing and infrastructure sector, along with the rising demand of uPVC products, is driving the demand for the market.
New York City, United States – May 26, 2020 /MarketersMedia/ —
The global Windows and Doors market is forecast to grow at a rate of more than 5.2% during the forecast period, and the market value is estimated to cross USD 252.89 billion at the end of the forecast period. Rapid progress in the residential and commercial real estate sector is driving the growth of this market. Widespread renovation and remodeling activities are going on throughout the world, and expenditure on home improvement activities is likely to boost the market further. uPVC, metal, wood, plastic and other materials like glass are the most used materials in this market, and the material is chosen primarily on the basis of aesthetic beauty, affordability as well as its durability factor.
The COVID-19 impact:
Real Estate and commercial sector are one of the most important drivers of the windows and doors market. The real estate sector has hit its all-time lowest figures amidst this COVID-19 outbreak. The residential sector was already suffering due to less demand, and in the current situation, there will be a serious dearth of new projects along with a stoppage of work in ongoing projects due to labor as well as money shortage. Leasing activity in the commercial sector will also be largely affected, which suffices that both the residential and non-residential real estate sectors would be badly hit. This would lead to a real grim scenario in the windows and doors market.
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Leading Windows and Doors manufacturers/companies operating at both regional and global levels:
Andersen Windows & Doors, Jeld-Wen Holding Inc., Marvin Windows & Doors, Masonite, Ply Gem Residential Solutions, Pella Corporation, Velux Group, YKKAP America Inc., Kommerling USA, and Milgard Windows & Doors among others.
For the purpose of this report, Reports and Data have segmented into the global Windows and Doors market on the basis of material types, product, end-user and region:
Product Outlook (Volume, Thousand Units; Revenue, USD Billion; 2020-2027)
Material Type Outlook (Volume, Thousand Units; Revenue, USD Billion; 2020-2027)
End User Outlook (Volume, Thousand Units; Revenue, USD Billion; 2020-2027)
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Regional Outlook (Revenue, USD Billion; 2017-2027)
• North America
• Asia Pacific
• Latin America
Further key findings from the report suggest
• Doors enjoyed the dominant market share of more than 60.0% in 2019 in the market under study. China has planned to reach a 60% urbanization rate in the next few years, and such trends across the Asia Pacific region is likely to drive the demand for doors.
• uPVC material is been widely used in the construction sector due to the low cost of the uPVC polymer. The advantage of the material is that it can be reshaped and recycled, which makes it a preferred material for making door and window frames. But strict regulations regarding the usage of the material can hinder the growth rate of the uPVC market.
• The global residential real estate sector is predicted to have a market value of USD 4263.7 billion by 2025. The Asia Pacific and Middle East countries would majorly drive the sector’s growth due to widespread commercial activities and rapid urbanization, which would provide a huge boost to the market under study in these regions. Political turbulence in certain parts of the world is forming a barrier to the sector’s growth.
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To summarize, the global Windows and Doors market report studies the contemporary market to forecast the growth prospects, challenges, opportunities, risks, threats, and the trends observed in the market that can either propel or curtail the growth rate of the industry. The market factors impacting the global sector also include provincial trade policies, international trade disputes, entry barriers, and other regulatory restrictions.
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