Bifold Doors Market Regional Analysis:
North American Market Insights
North America industry is estimated to account for largest revenue share of 34% by 2035. The market growth in the region is also expected on account of the rise in green buildings. With the growing demand for the construction of green buildings, the need for doors and windows is progressively increasing. According to the U.S. Green Building Council, 18% of new institutional construction is based on the idea of green buildings to build a better-performing building.
This region consists of a highly developed country with a population that has a high spending potential. Thus, people living in the region can easily afford to have bifold doors in their houses. In 2022, the US was the leading revenue-generating country in North America as a result of the growing residential sector. As per Associated General Contractors of America, more than 919,000 construction establishments took place in the U.S. in the 1st quarter of 2023 which created employment for around 8.0 million. The strong growth in the residential segment can be seen in the increasing number of new housing units started in the US.
The growing construction sector with increasing exports and imports is playing a vital role in propelling the growth of the bifold doors market in Canada.
APAC Market Insights
The APAC region will also encounter huge growth for the bifold doors market by 2035 and will hold the second position owing to the notable population shift from rural to urban areas fueling the demand for construction, driving the need for bifold doors. According to the United Nations Settlements Programme, urbanization is the megatrend in the Asia Pacific region where 54% of the global urban population means more than 2.2 billion people live in Asia. By 2050, this population is evaluated to increase by 50%.
Additionally, modernization and changing lifestyles of the people are leading to increased adoption of bifold doors. These doors have the potential to provide ventilation naturally and maximize the amount of natural light entering the house. Growing environmental concerns and energy efficiency regulations are driving the demand for energy-efficient building solutions in the Asia-Pacific bifold doors market.
The increase in consumer preference for modernized interior design is driving the market growth of bifold doors in the country. China exports bifold doors to the U.S., India, and Vietnam. These doors are exported by 1164 China exporters to 1374 buyers.
The growing demand for energy-efficient doors in Korea, which reduce energy loss and limits the condensation caused by the high thermal conductivity of aluminum, thereby enhancing thermal insulation with less concern for condensation.
Bifold doors are used in Japan to maximize space efficiency, mainly to create a more spacious and open place that is also connected to the garden outside.
