Wooden Interior Door Market Size to Hit $21.47 Billion, Globally, by 2028 – Exclusive Report by The Insight Partners
Wooden Interior Door Market is growing at a CAGR of 5.6% from 2022 to 2028.
Pune, India, Oct. 25, 2023 (GLOBE NEWSWIRE) — According to The Insight Partners, “Wooden Interior Door Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type (Panel Door, Bypass Door, Bifold Door, Pocket Door, and Others), Mechanism (Swinging, Sliding, Folding, and Others), End User (Residential and Non-Residential), and Geography,” the market is expected to grow from US$ 15.45 Billion in 2022 to US$ 21.47 Billion by 2028; it is estimated to register at a CAGR of 5.6% from 2022 to 2028.
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The wooden interior door market growth is attributed to the rising construction sector due to growing urbanization. China, the US, India, Japan, Canada, Indonesia, France, Germany, Australia, and Spain witnessed significant growth in the construction market due to the rise in house-building projects and favorable government policies. Further, using sustainable and certified forest trees for manufacturing wooden interior doors is anticipated to propel the wooden interior doors market in the coming years.
Based on customer’s design space and budget, different types of interior doors are available in the wooden interior doors market. The adoption of the latest types of interior doors such as standard stile, barn doors, rail doors on hinges, and custom wood door topping is significantly high across the world. As compared to traditional door swings, barn doors offer additional functionality and save space; hence, the standard doors are being converted into barn doors. Thus, the rising construction of barn doors is projected to fuel the adoption of sliding doors, which is propelling the wooden interior doors market.
Although several manufacturers have showrooms to attract customers, a wider customer base can be easily approached through distributors and retailers. Hence most manufacturers have several regional distributors and retailers. Lowe and IKEA are prominent multi-chain retailers who aid wooden interior door manufacturers reach a wider audience. Depending on profitability and desired quality, a construction company may choose different door manufacturers for different projects. For a homeowner undertaking renovations, pricing, finish, color, and quality are key factors to consider. This has influenced the wooden interior door market players to innovate their product, offer several color options, and adopt competitive pricing strategies. This factor is further influencing the wooden interior door market growth.
Global Wooden Interior Door Market Scope:
|Market Size Value in||USD 15.45 Billion in 2022|
|Market Size Value by||USD 21.47 Billion by 2028|
|Growth rate||CAGR of 5.6% from 2022 to 2028|
|Segments covered||Offering, Type, End-User|
|Regional scope||North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America.|
|Country scope||Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
Wooden Interior Door Market: Competitive Landscape and Key Developments
Jeld-Wen, Holding Inc; Marvin Ltd; Masonite International Corp; Woodgrain Inc; and Puertas Sanrafael SA are among a few key wooden interior door market players operating across the world. During this study, several other wooden interior door market players were analyzed to get a holistic view of the wooden interior door market size and its ecosystem.
In 2020, Masonite International Corp announced the acquisition of Lowe’s Companies Inc door fabrication business in the US for US$ 3.9 million. This is expected to expand business opportunities across the country.
Germany is Europe’s one of the biggest construction market, deploying about 10% of the gross domestic product in construction every year. Thereby, the construction industry occupies a relatively important position and contributes considerably to the economic growth in Germany. The German construction sector experiencing boom in the construction projects due to strong urbanization and the need for residences. Some of the largest construction projects initiated in Germany during Q2 2022 are Hochmuttinger Straße Residential Quarter (US$225 Million) which aims to build an affordable ecological housing quarter in Munich, Frechen NEOBEL Mixed-Use Development (US$163 Million) which to build a mix of business, living and commercial facilities in North Rhine-Westphalia, Krampnitz Housing Development (US$1,831 Million) which aims to provide living space for 10,000 people in Potsdam, Brandenburg. Such growing construction projects contributes to the wooden interior doors market growth in Germany.
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Wooden Interior Door Market: Type Overview
Based on type, the wooden interior door market size is segmented into panel door, bypass door, bifold door, pocket door, and others. In 2021, the panel doors segment acquired a major share of the wooden interior doors market. The wooden panel doors are rigid, strong, and durable owing to which their demand continues to grow as they can be easily installed and require less maintenance. These doors are preferred for their carved designs and can be easily manufactured. With a huge variety of timber availability and less manufacturing cost, panel doors are widely used in construction work. These factors collectively boost the panel doors segment growth.
Wooden Interior Door Market: COVID-19 Pandemic Impact
The onset of the COVID-19 crisis in 2020 led to a halt in infrastructure and construction activities worldwide. However, the pandemic led to a shift in people’s preferences owing to the implementation of lockdown, which resulted in the temporary closure of manufacturing facilities of many products for interior doors. Furthermore, the pandemic stimulated the need to create a healthy environment, mainly in residential areas, forcing people to stay indoors. Also, there was an increase in upgrading personal living spaces either by undertaking renovation projects or purchasing new residential properties. Thus, the surging investment by consumers has created a notable demand for interior doors. Conversely, there has been an increased demand for construction and renovation activities focused on making structural changes to incorporate in office spaces, thereby boosting the wooden interior doors market expansion in the coming years.
Go through further research published by The Insight Partners:
Interior Doors Market– Global Analysis and Forecast to 2030
Doors Market– Global Analysis and Forecast to 2030
Doors and Windows Market– Global Analysis and Forecast to 2030
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