Windows and Doors Market Trends

Growth Drivers

• Increasing Residential & Non-Residential Construction Activities- The U.S. non-residential construction spending touched close to USD 500 Billion as of April 2022, up from about USD 250 Billion in April 2005. Residential construction spending in the nation, on the other hand, crossed USD 930 Billion up from about USD 600 Billion during the same period. The growing population is estimated to boost the construction activities. Further the improved standard of living of people of people is expected to increase in demand for more innovative ideas for constructing house. Hence owing to which is market is expected to grow.

• Growing Urbanization in Emerging Economies- Approximately 4.4 billion people, or 56% of the world's population, reside in cities. Nearly 7 out of 10 people on the planet is estimated to reside in cities by 2050, with the urban population more than tripling from its current level.

• Increasing Focus on an Environmentally Sustainable Construction Solutions to Boost Demand for Environmental-Friendly Doors & Windows- Windows allow about 30% of a home's heating energy escape. Around 76% of the sunlight that hits typical double-pane windows during cooling seasons enters to become heat. Hence preference for eco-friendly doors and windows are more.

• Increase in Income Level of the Population- By 2022, around 130 million families were anticipated to have an annual income of approximately USD 3000 to more than USD 9000, up from approximately 90 million households in 2019.

• Increasing Threat of Burglar to Boost the Demand for Smart Doors & Windows- In the US, there are roughly three burglaries every minute. However, only unskilled burglars commit approximately 80% of house intrusions. Hence installing smart doors & windows could prevent such crime.

Challenges

• High Cost of Eco-Friendly Doors
• Increasing Costs of Labour and Construction Materials
• Tariff & Trade Issues

The eco-friendly doors frames made out of wood provides excellent energy efficiency but are expected to carry high price. Also the fiberglass frames could be expensive even though they require low maintenance. Hence these factors are anticipated to act as a restraint for the growth of the market.

The global doors and windows market is segmented and analysed for demand and supply by product into door and windows. Amongst these segments, the windows segment is anticipated to garner the largest revenue by the end of 2031. However, the doors segment is estimated to grow at a highest CAGR of 5.4% over the forecast period, backed by changing lifestyle of the people. As a result, there has been growing interest for luxurious living among people, thereby driving the need for lavish residences, which in turn, is projected to drive the demand for doors and windows. According to our Luxury Outlook Survey, one-fourth of HNIs purchased real estate during the epidemic. Most respondents stated they were eager to purchase a residential home in 2022, citing lifestyle improvements and a solid financial potential as their main justifications. Further, the doors segment is segmented by material into wood, aluminium, wood plastics composites, fiberglass reinforced plastics, and others. Out of which the wood segment is anticipated to garner the second-highest revenue of USD 39,104.7 Million by the end of 2031.