Windows & Doors Market Showing Tremendous Growth and Strong Revenue by End of 2027
Windows & Doors Market is set to surpass USD 225 billion by 2027, according to a new research report by GMI Inc. The growing rate of construction across the globe is poised to drive the windows and doors industry growth.
Windows & Doors Market is set to surpass USD 225 billion by 2027, according to a new research report by GMI Inc. The growing rate of construction across the globe is poised to drive the windows and doors industry growth. The lack of standard housing in developed regions is expected to boost investments in quality housing and trending smart homes, which is providing stable growth prospects for the market demand.
India and China are projected to be the major revenue-generating regions throughout the assessment period. The expansion of the market will also be aided by rising new construction in the social infrastructure sectors of healthcare, education, retail, and retail. In addition, as more people live in cities, there will be a huge demand for new infrastructure to accommodate residential and commercial needs. Growth prospects are being fueled by rising commercialization and urbanisation throughout these nations.
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Residential segment held a major market share
The new residential construction application held a revenue of around 55 billion in 2020 and is projected to grow at 5.5% CAGR through 2027. The residential application includes new residential and improvement & repair of the existing residential windows & doors.
Latin America windows & doors market captured more than 8% revenue share in 2020 closely followed by the Middle East with a share of around 5%. Huge public & private investments in infrastructure and commercial projects across the Middle East region will foster the market.
uPVC and wooden material segment will generate significant revenue
uPVC windows and doors are widely used in commercial buildings and households that use air conditioners owing to their properties such as energy-saving and better insulation. They do not require painting and are maintenance-free. Wooden windows & doors are available in numerous sizes, variations in looks, and based on customer specifications along with customization options.
Aluminum is a widely used material for windows & doors on account of its properties such as excellent flexibility and durability in design. Aluminum can transfer heat due to efficient heat conduction. Steel is another material that is widely preferred for security door & window applications primarily by its enhanced tensile strength. Stainless steel doors can be customized led by their flexibility while manufacturing and as per user requirements. The use of tempered glass in sliding doors and windows is an emerging trend in various commercial and residential establishments.
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Leading participant operating in the windows & doors market are Pella corporation, ATIS Group, JELD-WEN, Inc., SGM Windows, and Performance Doorset Solutions Ltd. (PDS), and others.
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