The door systems market has been growing in accordance with the construction industry. With an increasing desire for security, convenience, and concerns about the environment, people are opting for high quality doors for residential as well non-residential purposes.
Increasing disposable incomes of people, rapid urbanization, innovation in door systems, and increase in building construction have driven the growth of the door systems market. In addition to this, the growing trend of green buildings and the rising demand for energy efficient building material would support the growth of the door systems market over the forecast period.
The market for door systems is projected to be valued at USD 293.85 Billion by 2020. The Asia-Pacific region is projected to grow at the highest CAGR of 7.42% during the projected period, that is, 2015 to 2020.
The growth of the door systems market is primarily driven by the following:
The composite door systems market is projected to grow at the highest CAGR of 7.03% from 2015 to 2020. The door systems market was dominated by wooden door systems segments, which accounted for 28.4% of the total market in 2014.
The global door systems market is marked with intense competition due to the presence of a large number of both, big and small firms. New product launches, mergers & acquisitions, and partnerships and expansions are the key strategies adopted by market players to ensure their growth in the market.
The key players in the market Masco Corporation (U.S.), Assa Abloy (Sweden), Fortune Brands Home & Security, Inc. (U.S.), Allegion PLC (Ireland), Masonite International Corporation (U.S.), Ply Gem Holding Inc. (U.S.), DuluxGroup Limited (Australia), PGT, Inc. (U.S.), Andersen Corporation (U.S.) and Jeld Wen, Inc. (U.S.). In this report, the global door systems market is segmented into type, mechanism, technology, application, and region.