Windows and Doors Market Overview:
Windows and doors market witnessed significant growth, accounting for $184 billion in 2015, and is expected to reach $282 billion by 2022, growing at a CAGR of 6.3% during the forecast period. The market growth is driven by factors such as advancements by market players producing ecofriendly windows & doors, rise in consumer spending on home improvement, and surge in residential & nonresidential construction. However, high price packages for ecofriendly doors and windows is anticipated to hamper the growth of the market. Rapid urbanization and industrialization in emerging economies such as India, Indonesia, and others is projected to provide growth opportunities for the market.
Numerous market players operating in the market have adopted product launch as one of their key developmental strategies. For instance, Jeld Wen Inc. launched single-hung and double-hung tilt windows in January 2017, which incorporate multiple style elements that are in high demand for modern homes.
The report analyzes the windows & doors market based on product type, material type, mechanism, end user, and geography. On the basis of product type, the market is bifurcated into windows & doors. By material type, the market is classified into wood, metal, and plastic for both windows & doors. The market is categorized based on mechanism into swinging, sliding, and others for windows; and swinging, sliding, folding, revolving & others for doors. On the basis of end user, the market is bifurcated into residential and nonresidential users.
Residential user segment dominated the market and is expected to continue this trend during the forecast period. Residential construction industry in North America witnessed substantial growth in 2015, driven by growing consumer demands, while in the U.S. it is expected to increase at notable growth rate of 8-10% from 2016 to 2019. Multifamily residential construction in the U.S. contributed a majority share in the total residential construction, which has grown at around 11-12% over single-family residential construction at 9-10%.
Nonresidential sector is anticipated to witness higher growth rate globally. In the U.S., the nonresidential buildings construction accounted for $388,896 million in 2014, and witnessed growth rate of 8% in 2013. Lodging witnessed a double-digit growth rate of 15% in 2015, followed by office at 14%, commercial at 8%, and healthcare & educational construction at 3-5%. In addition, the UK reported decent growth rate in terms of underlying project starts with industrial sector at 49%, offices at 20%, retail at 8%, hotel & leisure at 20%, education at 10%, and health at 8% growth rates. In developing regions, such as China, the total nonresidential construction segment generated revenue of 8,143 billion CNY (Chinese Yen). Increase in nonresidential construction from economies such as Asia-Pacific and LAMEA owing to rapid industrialization and urbanization is expected to provide lucrative opportunities for the market.
Top Impacting Factors
Advancements by Market Players
Technological innovation by market players producing ecofriendly windows & doors is expected to propel the market growth. For instance, Tiltco, a Canada-based window & door producer, manufactures unplasticized PVC, which offers benefits during the manufacturing process such as less maintenance, lowest production energy requirements, minimal raw material requirements and least emissions. Milgard manufactures energy-efficient doors and windows designed to cater to thermal and solar requirements, thus fueling the market growth.
Surge in Residential & Nonresidential Construction
A notable rise in the residential and nonresidential sector construction activities has positively impacted the market, and is expected to further drive its growth. In developed economies, such as the U.S., the number of single-family housing unit starts was at 537 thousand in 2012 and increased to 715 thousand in 2015. In addition, research studies state that the number of new apartments built in China increased from 7.22 million in 2011 to 7.66 million in 2014. Nonresidential construction activities reported a notable rise in the recent years. As per the industry sources, global spending in this sector increased by 1.5%; however, Asia-Pacific is expected to witness higher growth rate owing to rise in spending in countries such as China and India, thus supplementing the market growth.
Increase in Spending on Home Remodeling
Rise in consumer spending on home remodeling in developed economies, such as the U.S., has driven the market growth in the recent years. As per a research, strengthening of the economy and recovering house prices have led to increased spending by owners on home remodeling projects, which rose to $6 billion between 2011 and 2013. As per the statistics, in 2013, exterior replacements (roofing, siding, windows, and exterior doors) accounted for 20% of total homeowner expenditures.
Regional Windows & Doors Market Share Analysis (%)
Developed economies such as North America and Europe have shown recovery in their residential construction; however, nonresidential sector shows high growth potential owing to the increase in demand from office and commercial sector. In 2015, these sectors collectively accounted for over 40% of the total windows & doors market size. Regions such as Asia-Pacific and LAMEA are expected to witness higher growth rates owing to rise in demand from both residential and nonresidential sectors. This is attributed to the rise in population, increase in urbanization, and surge in disposable income.
Asia-pacific The Largest Market for Windows & Doors
Asia-Pacific dominates the overall windows & doors market, and is projected to grow fastest during the forecast period. China leads the market, and is anticipated to show highest growth rate. In 2014, buildings construction accounted for 64% of the total construction in China, with the commercial sector leading the market, in terms of the total sales. Rise in investments in residential buildings was reported over the past few years, accounting for 6,441 billion CNY in 2012. In addition, the country witnessed an upsurge in urbanization rates, and is estimated to have 221 cities with more than 1 million inhabitants by 2025. In 2013, the expenditure incurred by the private sector and the government of Japan was 31.2% and 0.9%, respectively, for residential buildings, while 15.8% and 4.3%, respectively, for nonresidential buildings. Japan is to witness a relatively higher growth rate of its residential over the nonresidential sector. Increase in population, growth in urbanization, and surge in disposable income are expected to provide opportunities for development of the market.
Asia-Pacific Windows & Doors Market, 2014-2022 ($Billion)
Key market players profiled in the report include Andersen Corporation, Masco Corporation (Milgard Manufacturing, Inc.), Marvin Windows & Doors, Pella Corporation, Atrium Corporation, Schuco International Kg (a subsidiary of OTTO FUCHS Kommanditgesellschaft), Jeld-Wen Holding, Inc., YKK Corporation, Lixil Group Corporation, and MI Windows and Doors LLC. They have adopted acquisition and product launch to capture a larger market share and increase their customer base. Prominent players such as Jeld Wen Inc. and Pella Corporation have acquired other market players to sustain the intense competition in the market.
Other players in the value chain include Masonite International Corporation, Ply Gem Holdings Inc., Associated Materials Inc., Veka AG, and Neuffer Fenster + Turen GmbH.
- The report provides an in-depth analysis of the windows & doors market across major geographies and the estimated revenues generated during the forecast period.
- Quantitative analysis of the current trends and estimations is provided to help the windows & doors manufacturers to analyze the market.
- The entire projections in the report are based on analysis of the current trends and highlight the market potential, in terms of value.
- The report conducts extensive analysis of the market by closely following key product positioning and monitoring the top contenders within the market framework.
- The report also provides quantitative as well as qualitative market trends to help the stakeholders to understand the situations prevailing in the market.
Windows and Doors Market Key Segments
By Product Type
By Material Type
- Revolving & Others
By End User
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Rest of LAMEA
Market Players in the Value Chain
- Andersen Corporation
- Masco Corporation (Milgard Manufacturing Inc.)
- Marvin Windows & Doors
- Pella Corporation
- Atrium Corporation
- Schuco International KG (a subsidiary of OTTO FUCHS Kommanditgesellschaft)
- Jeld-Wen Inc.
- YKK Corporation
- Lixil Group Corporation
- MI Windows and Doors LLC
- Masonite International Corporation
- Ply Gem Holdings Inc.
- Associated Materials Group Inc.
- Veka AG
- Neuffer Fenster +Turen GmbH