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A01627 | Pages: 265 | Charts: 64 | Tables: 157 |
The global windows and doors market size was valued at $208.1 billion in 2022, and is projected to reach $356.7 billion by 2032, growing at a CAGR of 5.5% from 2023 to 2032. Windows and doors are an integral part of any residential and non-residential buildings. A door is a movable panel located in the doorway of a building. Its major objective is to control the movement through the doorway. On the contrary, windows consist of single or multiple movable panels located in the wall opening meant for the exchange of light, air, and view. In addition to the functional aspect associated with the windows and doors, they help to enhance the visual appeal of a building.
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Market Dynamics
The market for windows and doors is driven by rise in residential and nonresidential construction activities. The growth in the construction sector is attributed to increase in disposable income of people across the world, especially in the countries such as India, China, Brazil, South Africa, and Vietnam. Moreover, high disposable income increases the demand for new homes and home renovation. According to the data from the U.S. Census Bureau, about 59% of the total homes renovated their houses between 2019 and 2021. During this period, about $1,800 were spent on doors and windows by an average U.S. resident, which is significantly higher than the previous average spending. Moreover, rise in population and rapid urbanization are the major factors that drive the demand for commercial and residential buildings, which significantly boosts the need for installing doors and windows. According to the United Nations, the global population is expected to reach 8.5 billion by 2030, a significant increase from 8 million in 2023. Moreover, the trend indicates that the total population will be more than 9.5 billion by 2050. Exponential increase in population is anticipated in Asia and Africa. Moreover, United Nations reported that the global urban population is anticipated to increase to 68% in 2050, rising significantly from 55% in 2018. Countries such as India and China are anticipated to contribute majorly to the rising urbanization in the next 30 years. For example, according to the Investment Information and Credit Rating Agency (ICRA), the residential real estate sector in India witnessed surge in quarter 4 of 2022, by growing 11% year-on-year (YoY). Demand for affordable doors and windows such as PVC doors and hollow core doors is anticipated to grow from rural areas. SUch factors are positively influencing the windows and doors market overview. However, aesthetically appealing doors and windows made from glass and expensive solid wood are expected to witness increased demand from urban areas. Moreover, countries such as the U.S., Canada, Australia, and countries in Europe are experiencing strong demand for commercial and institutional buildings owing to high disposable and rise in job opportunities. Commercial buildings often demand for visually appealing doors and windows that can augment the aesthetics of the buildings. In addition, commercial buildings are susceptible to theft and burglary; therefore, key market players offer doors that are strong and incorporate technologies to prevent forced entry.
However, factors such as fluctuating cost of raw materials required to construct windows and doors are anticipated to restrain the windows and doors market growth. In addition to this, lack of skilled labor in countries such as the U.S., Canada, European countries, and Australia is negatively affecting the construction sector in these nations. In addition, high initial cost of automatic doors is one of the major challenges that restrain the market growth. 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 windows, and subsequently analyses it for predictive maintenance.
Moreover, technological developments in the windows and doors industry are expected to provide lucrative opportunities for players that operate in the windows and doors market. Various companies involved in manufacturing windows and doors have been developing automatic doors and windows. In addition, key players offer doors that incorporate the latest technologies that can prevent forced entry, and record unauthorized users, so that they can later be identified.
The demand for windows and doors decreased in 2020, owing to low demand from different industries due to lockdowns imposed by the government of many countries. The COVID-19 pandemic led to shutdown of the construction industry all across the world, leading to a halt in demand for windows and doors construction. This has hampered the growth of the windows and doors market significantly during the pandemic. The major demand for windows and doors was previously noticed from major countries, including the U.S., Germany, Italy, the UK, and developing countries having large population base such as India and China. These countries were negatively affected by the spread of coronavirus, thereby halting demand for windows and doors and also negatively affected the windows and doors market outlook. However, owing to the introduction of various vaccines, the severity of the COVID-19 pandemic has significantly reduced. This has led to the full-fledged reopening of businesses involved in the windows and doors market and also led to increased activities in the construction sector. Furthermore, it has been more than two and a half years since the outbreak of this pandemic, and many companies have already shown notable signs of recovery. Contrarily, during the beginning of 2023, the number of COVID-19 cases surged again, especially in China, which may have an unfavorable impact on the windows and doors market for a short duration. Thus, businesses involved in windows and door designing and manufacturing must focus on protecting their workforce, operations, and supply chains to respond to any looming threat of COVID-19. For instance, As of April 2023, COVID-19 cases are rising in India. In addition to COVID-19, another global event; worldwide inflation, driven by Ukraine-Russia war and quantitative easing done in some parts of the world during COVID-19 has also negatively affected construction sector.
Segmental Overview
The windows and doors market is segmented on the basis of product type, material, application, end-user, and region. By product type, the market is bifurcated into doors and windows. On the basis of material, it is divided into wood, metal, and plastic. Depending on application, it is categorized into swinging, sliding, folding, and revolving & others. On the basis of end user, the market is categorised into residential, and non-residential. Region wise, it is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, Italy, UK, Spain, and rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Australia and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).
[PRODUCTGRAPH]
By product type: The windows and doors market is divided into doors and windows. In 2022, the doors segment dominated the windows and doors market, in terms of revenue, and the windows segment is expected to grow with a higher CAGR during the forecast period. Windows are designed in a way, so that air exchange can occur, along with the diffusion of natural ambient light inside the building. In addition, owing to rise in trend of making buildings energy efficient, the demand for windows that allow large amount of air and light penetrate inside the building is on rise. Moreover, increase in households all across the world is playing pivotal role in driving demand for doors as well as windows.
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By material: The metal segment accounted for a higher market share in 2022. This is attributed to the fact that metal is a favorable material for construction of doors and windows as it is highly strong and tough, and is durable. Doors made from metal can withstand and resist forced entry. Moreover, frames of doors and windows are made using metal. Furthermore, the plastic segment is anticipated to grow with a higher CAGR during the forecast period, owing to its relatively inexpensive price, and properties such as weather resistant, insect resistance, lightweight, and durability.
[APPLICATIONGRAPH]
By application: The swinging segment accounted for a larger windows and doors market share in 2022, and the sliding segment grossed the second-highest revenue share in 2022. Sliding doors and windows do not take up excessive space like a swinging door, making them suitable for small rooms and houses. In addition, sliding doors are installed where the door is in the center of the wall. Furthermore, the folding segment is anticipated to grow with a higher CAGR during the forecast period, largely due to the growing demand for doors that are easy to operate.
[ENDUSERGRAPH]
By end user: The residential segment accounted for a higher market share in 2022. On the other hand, the nonresidential segment is anticipated to growth with a significant CAGR during the forecast period. The residential construction segment is witnessing growth due to increase in population. Moreover, the non-residential segment is expected to grow with the growth in disposable income and rapid urbanization.
[REGIONGRAPH]
By region: In 2022, Asia-Pacific garnered the highest share and is anticipated to secure the leading position during the forecast period. This growth is attributed to extensive economic growth and growth of population and urbanization in countries such as China, India, Vietnam, and Indonesia. Furthermore, Asia-Pacific is also anticipated to grow with a higher CAGR during the forecast period, due to high rate of population growth and increase in job opportunities that enable the common people to own and renovate their houses.
Competition Analysis
Competitive analysis and profiles of the major players in the windows and doors is provided in the report. Major companies included in the report include, Marvin, YKK Corporation, Sanwa Holdings Corporation (Horton Automatics Inc,), Cornerstone Building Brands, Inc. (Atrium Corporation), MI Windows and Doors, LLC., Andersen Corporation, Pella Corporation, JELD-WEN Holding, Inc., LIXIL Corporation, and DCM Shriram Ltd. (Fenesta Building System).
Major players to remain competitive adopt development strategies such as acquisition, product launch, and others. For instance, in March 2023, Marvin, a major player in the doors and windows market, launched Elevate Bi-Fold door for exterior application. Such factors associated with folding doors are driving the demand for folding doors. Similarly, in August 2020, Fenesta Building System, a major manufacturer of doors launched aluminum windows and doors systems to cater to all application needs of retail and institutional customers.
Key Benefits for Stakeholders
Key Market Segments
Key Market Players