Global Exterior Doors Market Set For 7.3% Growth, Reaching $143.72 Billion By 2028

Exterior Doors Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033

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The exterior doors market size is expected to see strong growth in the next few years. It will grow to $143.72 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%”

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Exterior doors, an essential part of residential, commercial, and industrial buildings, are gaining popularity due to their role in security and aesthetic appeal. The global exterior doors market size has seen strong growth in recent years and is expecting a significant rise in the future. What was valued at $101.26 billion in 2023, is projected to grow to $108.5 billion in 2024; marking a compound annual growth rate CAGR of 7.1%.

What Are The Forecasts For The Global Exterior Doors Market Size And The Predicted Annual Growth Rates?
The exterior doors market size is expected to see strong growth in the next few years. It will grow to $143.72 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%. The growth in the forecast period can be attributed to growing urban populations, rising disposable income, expansion in the commercial sector, increased emphasis on home security, rising tourism industry, and rising homeownership rates.
What Aspects Are Driving The Exterior Doors Market?

The expansion in the construction sector, increases in real estate investments, growing awareness of environmental issues, rising architectural styles, and increasing residential and commercial buildings have all been crucial in driving this historic growth. Another significant factor propelling the exterior door market forward is the increasing renovation and refurbishment activities involving updating, repairing, or improving existing structures. This is particularly relevant for exterior doors, which not only improve a home's visual appeal but also its security with innovative locking systems and reinforced materials. For instance, in January 2023, the Harvard Joint Center for Housing Studies JCHS predicted that national spending for remodeling and repairs to owner-occupied homes would grow to $485 billion in 2023, representing an increase of 2.6% from last year.

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What To Expect From The Exterior Doors Market In The Coming Years?

The exterior doors market size is slated to grow to $143.72 billion in 2028 at a compound annual growth rate CAGR of 7.3%. This is attributable to growing urban populations, rising disposable incomes, expansion in the commercial sector, increased emphasis on home security, the thriving tourism industry, and rising homeownership rates. Also, advancements in materials, innovations in the manufacturing process, the adoption of smart home technologies, and a shift towards advanced manufacturing techniques, including 3D printing and the integration of the Internet of Things IoT technologies, are expected to shape market trends in the forecast period.

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Who Are The Key Industry Players In The Exterior Doors Market?

Major companies operating in the exterior doors market include Assa Abloy Group, Stanley Black & Decker Inc., JELD-WEN Inc., VKR Holding A/S, dormakaba Holding AG, Masonite International Corporation, Andersen Corporation, Pella Corporation, Ply Gem Holdings Inc., Quanex Building Products, Therma-Tru Doors, Woodgrain Millwork Inc., Steves & Sons Inc., among many others. They are focusing on developing advanced products, such as aluminum external bi-fold, French, and single-door systems. These are designed to improve aesthetic appeal, boost energy efficiency, and increase durability.

How Is The Exterior Doors Market Segmented?

The exterior doors market segmentation offers a deep understanding of the market, which includes:

1 By Doors Type: Panel Doors, Bypass Doors, Bifold Doors, Pocket Doors, Other Doors Types
2 By Material: Wood, Metal, Glass, Fiberboard, Fiberglass, Vinyl, Other Materials
3 By Mechanism: Swinging, Sliding, Folding, Revolving, Other Mechanisms
4 By Application: Residential, Commercial, Industrial
5 By End-User: Homeowners, Contractors, Architects, Other End-Users

What Does The Regional Analysis Reveal About The Exterior Doors Market Growth?

Asia-Pacific held the largest market share in the exterior doors market in 2023. North America is expected to be the fastest-growing region during the forecast period. In addition to these, the markets within Western Europe, Eastern Europe, South America, Middle East, Africa also offer promising growth opportunities in the exterior doors sector.

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