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Patio Doors Market Expected to Reach $59.3 Billion by 2032—Allied Market Research

 
2022
Patio Doors Market

Report Code : A33368

quote The global patio doors market has witnessed significant growth over the past decade, owing to the growth of the construction industry. The growing need towards the adoption of sustainable and cost-effective ways for residential construction that makes the house look more appealing is a major factor driving the growth of the market. quote

Onkar Sumant - Manager
Construction and Manufacturing at Allied Market Research

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According to a new report published by Allied Market Research, titled, “Patio Doors Market," The Patio Doors Market was valued at $38 billion in 2022, and is estimated to reach $59.3 billion by 2032, growing at a CAGR of 4.6% from 2023 to 2032. 

The hinged segment accounted for more than half of the global patio doors market share in 2021 and is expected to witness significant growth during the forecast period.

The global patio doors industry is anticipated to grow owing to the growth of single-family housing trends. In addition, an upsurge in consumer expenditure on home improvement & renovation activities and development in new construction activities are anticipated to offer remunerative opportunities for the door market development. Moreover, advancements by industry players, increase in residential & commercial construction activities, and upsurge in home renovation & remodeling expenditures propel the market growth. In addition, rise in urbanization and industrialization in countries such as Africa, India, and others, is anticipated to provide remunerative opportunities for the patio doors market. Nevertheless, fluctuations in raw material prices are expected to hamper the market growth and affected the patio doors market size.

Augmented acceptance of eco-friendly door technologies in the developed regions, such as Europe and North America, fuels the development of the global doors industry. Properties, for example, increased durability, noise reduction, and aesthetic enhancement accompanied by development in the air quality have boosted the usage of eco-friendly doors. Currently, prominent companies in the patio doors market lead the market with their wide distribution network and cutting-edge product portfolio, which is a major compelling factor for the global patio doors market progress.

By 2030, approximately 590 million people are projected to move to urban locations. In addition, over 50% of all urban growth is expected to take place in emerging economies such as Asia and Africa, during the next 20 years. Currently, more than 4 billion people all over the globe—over 50% of the worldwide inhabitants—live in cities, and this tendency is anticipated to continue. In addition, as more than four-fifths of the global GDP is produced in cities, urbanization can influence sustainable development if managed properly by increasing productivity, allowing innovation, and occurring of novel ideas. Hence, this trend is expected to continue to drive the market growth.

A rapid upsurge in the global population as a result of rising migration has led to rapid urbanization. This scenario is anticipated to boost the demand for doors. A growth in demand for residential buildings is expected to continue to drive the market growth. Moreover, an increase in industrialization in economies, such as Asia-Pacific and LAMEA, is expected to drive the growth of the global patio doors market.

Major players have adopted product launch, partnership, and acquisition as a key strategy to sustain the competition and improve the product portfolio. For instance, in April 2022, JELD-WEN launched a new sustainable product line, Auraline to address customized and sustainable demands for its client. This launch is projected to add enrichment to its product line.

Asia-Pacific accounteding for the highest share of the global patio doors market in terms of revenue in 2021, owing to increased investment in tourism by private as well as public sector, which also led to increased construction activities, thereby; creating a demand for doors.

However, during the COVID-19 pandemic, various manufacturers in the patio doors market had to stop their business in countries, such as China, the U.S., and India. This break directly impacted the sales of doors companies. In addition, lack of manpower and raw materials also constricted supply of raw materials of doors, which negatively influenced the growth of the market. However, reopening of production facilities and introduction of vaccines for coronavirus disease are anticipated to lead to re-opening of patio doors companies.

High initial costs are one of the major challenges that restrain the growth of the automatic patio door market. In addition, the technique of predictive maintenance utilizes the data collected in real-time through detection or optical sensors installed in the automatic doors, and subsequently analyze it for predictive maintenance. In addition, continuous up-gradation of software and application programs to improve the overall performance of automatic doors involves high cost, thereby restricting their usage. Moreover, the lack of skilled operators and technicians for maintenance and service of automatic patio doors restrains the growth of the market among fast-emerging economies and price-sensitive markets.

As per the patio doors market analysis, the market witnessed significant growth over the past decade, owing to an increase in construction activities which is expected to boost the growth during the forecast period. Moreover, advancements by industry players, increase in residential & commercial construction activities, and upsurge in home renovation & remodeling expenditures propel the global patio doors market growth. In addition, various key players are expanding their business globally, owing to an increased customer base, enhanced effective operations, and developed product portfolios. This is anticipated to fuel the growth of the market during patio doors market forecast period.

Safety and security are the major concerns in the residential and commercial sectors, which has led to an increase in the deployment of systems such as voice-activated devices, video intercom systems, and smart outlets in homes.  This factor is a substantial contributor to the growth of the patio door market. In addition, intense competition has been witnessed within start-ups and large corporations, owing to the profitability of the automatic patio door systems.

As per the patio doors market trend, growth in the installation of smart home systems for safety & security enhances the visual appeal of the house, thereby creating value for residential end-users.  This factor is expected to continue to provide profitable business opportunities to the market players during the forecast period. 

Key Findings of the Study

• By mechanism, the hinged segment is expected to experience rapid growth in the market.

• By door type, the swing doors segment is the highest revenue generator.

• By panel material, PVC segment generated the highest revenue in 2022.

• Region wise, LAMEA is expected to experience growth at the highest rate.

 

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quote Patio Doors Market by Mechanism (Sliding, Hinged), by Door Type (Swing Doors, Sliding Doors, Folding Doors, Revolving Doors, Others), by Material (Wood, Aluminum, PVC): Global Opportunity Analysis and Industry Forecast, 2023-2032 quote

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