Pocket Door Market 2018 to 2024, key industry players & growth trends
Asia Pacific Pocket
Door Market is
anticipated to witness growth over 5% up to 2024. Countries such as China,
Indonesia, Thailand, and Malaysia are expected to witness significant growth in
population which will bolster the increase in average size of housing. This
will indirectly impact the product sales in the residential sector and outpace
its applications in the non-residential segment.
European Pocket Door Market accounted for over 20% of
the global revenue share in 2017. Increasing urbanization rate and rising
demand for aesthetic customization will further boost industry growth in this
region. Rising income level coupled with affordable housing schemes launched by
the government will augment regional demand over the projected timeframe.
Pocket
Door Market size is estimated to surpass USD 10 billion by 2024. Rapid growth
in construction & renovation of the residential & commercial buildings
is the key factor fueling pocket door market size. Increasing demand from
infrastructure and real estate projects will drive the product demand. In 2017,
according to National Association of Home Builders, the U.S. remodeling and
home building investment accounts for 3% share of GDP.
Increase
in public, as well as private infrastructure expenditure is anticipated to
propel the industry growth. Rising modular and stylish lifestyle owing to
rising disposable income will provide strong business outlook for the
manufactures, thus supporting industry expansion. In addition, shift in consumer
preference towards premium quality products with aesthetic in their homes
likely to fuel product sales.
Technological
advancement and innovations for conserving energy in buildings will positively
enhance the industry growth. Stringent government norms to enhance the
utilization of energy efficient products for reducing carbon emissions in
Canada and UK fueling product sales. Increasing demand for automated entrances
in the commercial and industrial sector will further propel the industry growth
in coming years.
Single pocket door market
is projected to witness CAGR over 5.5% in terms of revenue up to 2024, owing to
its ease of installation, sound & thermal insulation, and modular appeal. A
variety of materials such as glass, aluminum, steel, etc. can be used for the
product development depending upon the purpose for which it is being installed.
This level of diversity of features and its ease of operations likely to propel
product adoption rate.
Browse
Report Summery @ https://www.gminsights.com/industry-analysis/pocket-door-market
Wood accounted for more
than 45% of the industry share in 2017. Apart from the aesthetic appeal, wooden
material tends to have a long life especially when good quality timber is used.
Also, wood is not prone to rust, it does not crack or chip and is highly
customizable to fit any opening size. These factors make wood an ideal option
for product development in the long run thereby increasing the segment growth
over the projected timeframe.
Some of the key industry
players in the market include Ferrero Legno, JAP, Allgood, Scrigno, Eclisse UK
S.R.L, JB Kind, and Ghizzi & Benatti. Other notable players include
Portman, LPD, Raydoor, Selo, Fleetwood, Slidesystems, Linvisible, Bertolotto
Porte, Casali, FOA Porte etc. Manufacturers are anticipated to adopt mergers
& acquisition strategy to gain competitive advantage. The company players
practice integrations across various levels of the value chain to increase their
presence in the industry. The manufacturing companies are entering strategic
alliances with multinational home décor brands to further increase their
profitability.
About
Global Market Insights:
Global Market Insights, Inc., headquartered
in Delaware, U.S., is a global market research and consulting service provider;
offering syndicated and custom research reports along with growth consulting
services. Our business intelligence and industry research reports offer clients
with penetrative insights and actionable market data specially designed and
presented to aid strategic decision making. These exhaustive reports are
designed via a proprietary research methodology and are available for key
industries such as chemicals, advanced materials, technology, renewable energy
and biotechnology.
Contact
Us:
Pocket Door Market 2018 to 2024, key industry players & growth trends
Reviewed by Pradip Varpe
on
July 31, 2018
Rating:
Reviewed by Pradip Varpe
on
July 31, 2018
Rating:
No comments