Global Window and Door Market Insights
and door market size is expected to exceed USD 250 billion by 2023 growing at
a CAGR of over 6% from 2016 to 2023, according to the latest report from Global
Market Insights. 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.
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 India. As of 2014, China was the largest market for
fenestration products and accounted for around 36% and is likely to reach 39%
by 2023. The growth in the region is due to rapid industrialization and
constant economic growth.
North America window and
door market hold the largest share and expected to continue its dominance over
the forecast period. 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.
Africa and Middle East
window and door market are anticipated to witness considerable growth for
windows and doors due to increasing advanced building practices and growing
usage of modern fenestration products.
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Tag: window,door,facade,Windoor Expo 2017