Window and Door Market Size Is Expected to Exceed Usd 250 Billion by 2023

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Date Submitted: 09/06/2016 10:24 PM

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Window and door market size is expected to exceed USD 250 billion by 2023 growing at a CAGR of over 6% from 2016 to 2023. The rise in the demand can be attributed to increasing construction work as the global economy rebounds. Furthermore, increasing residential improvement activities along with growing repair demands is estimated to drive growth.

Rising global population is likely to increase the demand for housing as well as public buildings. Increasing value of non residential construction along with renewed downstream demand is estimated to fuel the revenue growth. In addition, industry consolidation is likely to improve the overall profit margin over the forecast period. Uncertainties in the industry such as rising interest rates, labour availability as well as planning delays are estimated to hamper the industry growth. Proliferating usage of triple-pane insulated glazing windows and insulated core doors by builders during construction of buildings is anticipated to promote the industry growth over the forecast period.

North America window and door market hold the largest share and expected to continue its dominance over the forecast period. The U.S. window and door market size was valued around USD 22.8 billion in 2014 and is expected to grow at a CAGR of over 7% from 2016 to 2023. It is anticipated to reach over USD 32 billion by 2023 owing to flourishing housing construction activities in the region. Large number of energy cost conscious home owners took benefit of tax credits offered by the government from 2009 to 2011 and thus replaced older doors and windows with more energy efficient ones.

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Asia Pacific window and door market is anticipated to be the fastest growing region and is likely to grow at a CAGR of over 7% from 2016 to 2023. The spur in the region can be subjected to rising income level among the developing nations such as China and...