North America Doors Market Size, Share, Competitive Landscape and Trend Analysis Report
WILMINGTON, DELAWARE, UNITED STATES, February 7, 2024 /EINPresswire.com/ — The North American doors market witnessed substantial growth, reaching a value of $27,607.40 million in 2022 and is forecasted to escalate to $49,672.53 million by 2032, with a notable CAGR of 6.7% from 2023 to 2032.
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Additionally, the market in terms of area covered by doors was 4,303,967,192 sq ft in 2022 and is anticipated to expand to 6,780,338,614 sq ft by 2032, growing at a CAGR of 4.7% during the same period. Doors, serving as movable panels at room entrances, are integral components of buildings, available in various materials, colors, and sizes, including metal, glass, and wood, and offered in diverse systems like sliding and swing doors, as well as panel, bypass, folding, and pocket doors.
The expansion of residential and commercial construction projects is a significant driver of the doors market. Investments in construction, propelled by rising consumer disposable income and the introduction of new products, fuel demand for residential and commercial complexes. Initiatives promoting green building practices further augment market growth, with the U.S. government implementing programs to encourage energy-efficient building designs and operations.
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Despite the favorable market conditions, fluctuating raw material prices pose a challenge. Economic and speculative factors contribute to price volatility, with tariffs and regulations impacting materials like wood and metal. For instance, tariffs imposed by the U.S. government on softwoods from Canada and increased duties on aluminum and steel have raised manufacturing costs, constraining market growth.
Moreover, safety concerns in residential and commercial sectors have led to increased adoption of security systems, including automatic doors. The competition between startups and established companies in this segment underscores its profitability, with smart home systems enhancing both safety and aesthetics, creating value for residential consumers.
The North American doors market is segmented by type, material, mechanism, core type, end-user industry, and region. Interior doors are projected to exhibit the highest growth rate, driven by their durability and affordability, while exterior doors continue to dominate in revenue due to their comfort and energy efficiency benefits.
By material, wood holds the largest market share, followed by plastic, which is expected to grow at the highest CAGR. The preference for wood stems from its low carbon footprint and thermal insulation properties, while plastic doors offer cost-effective alternatives with a wide range of designs and colors.
Residential and non-residential sectors are the key end-user industries, with residential segment anticipated to exhibit the highest growth rate, driven by increased demand for affordable housing and rapid urbanization.
Country-wise, the U.S. dominates the market, while Canada is projected to grow at the highest CAGR due to government initiatives supporting affordable housing construction.
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Key players in the North American doors market include Haley Brothers, JELD-WEN Holding Inc., Masonite, and others. These companies employ strategies such as acquisitions and product launches to enhance their market presence and offer innovative products and services to customers.
Key Benefits for Stakeholders
The report offers comprehensive analysis of current and emerging market trends and dynamics.
Market estimations for key segments from 2022 to 2032 aid in strategic decision-making.
Detailed analysis of product positioning and competitor strategies enhances market understanding.
Regional analysis provides insights into prevailing opportunities in different regions.
Forecast analysis from 2023 to 2032 offers insights into future market trends.
Profiles of key market players enable assessment of competitive landscape and strategies.