Wooden Interior Door Market is expected to reach US$ 21,477.53 million by 2028

The wooden interior door market size is expected to reach  US$ 21,477.53 million by 2028; registering at a CAGR of 5.6% from 2022 to 2028, according to a new research study conducted by The Insight Partners.

With the growing urban population, the need for high-rise buildings has increased in urban areas. According to the Council on Tall Buildings and Urban Habitat (CTBUH), 1,480 skyscrapers with heights greater than 200 m have been built in the last 20 years in the US. The number also includes 40 new residential skyscrapers constructed during 2019–2022. The surge in construction work across residential, commercial, and several industries owing to growing urbanization is driving the wooden interior door market growth. Government bodies are putting additional emphasis on strengthening the construction and infrastructural development, which is further enduring the demand for interior doors. Below mentioned are a few facts and instances boosting the construction sector:

Wooden Interior Door Market Share – by Region, 2021

Source: The Insight Partners Analysis

• Dubailand project in Dubai would witness an entertainment complex of 278 sq.km comprising numerous hotels, theme parks, and more.
• Zac Campus Grand Parc Mixed-Use Development (Paris, France) is a US$ 7 billion project consists of a constructing ZAC Campus Grand Parc mixed-use complex. The project began on Q3 2021 and is projected to be completed by 2027 end. The project will promote urban development plans including center for health and education of health professionals, scientific research center, space for office and residential use.
• China, the US, India, Indonesia, Japan, the UK, Canada, Germany, France, and Australia are a few prominent countries predicted to experience a tremendous growth in their number of construction projects by 2030.
• Hamamatsucho Shibaura 1 Chome Redevelopment (Japan) is a new mixed-use complex that would encompass commercial space.

As per the Global Construction 2030, it is estimated that the volume of construction output would increase to 85% (i.e., US$ 15.5 trillion) by 2030 worldwide. The US, China, and India are projected to lead the path and account more than half of the wooden interior market share. Moreover, investment to renovate old buildings and structures, and increasing inclination toward greener future are boosting the scope of green buildings, which is further nurturing the construction sector.

Impact of COVID-19 Pandemic on Wooden Interior Door Market  

In Europe, the timing and the degree of response by different countries to the COVID-19 pandemic resulted in an adverse impact on the wooden interior door market growth in the region. Major market players of wooden interior doors in Europe suffered a severe decline in production and revenue forecast due to import and export restrictions that disrupted the supply chain. During the initial phase of the pandemic, the interior doors market in Europe was negatively impacted due to delays in the manufacturing and production of interior doors utilized in commercial and residential spaces.

Nevertheless, with massive vaccination drives initiated in most countries, the market is projected to pace up, leading to the reopening of wooden interior door market players at their full-scale capacities and showing signs of regaining momentum. Companies providing interior door services are adopting business strategies such as product launches to sustain in competitive business environment and gain a major market share in the region. In October 2022, KLEIN—which designs and manufactures interior sliding doors—launched LEVEL, a new KIT for wooden swing doors. This would enable the door to make minimum or no noise while operating and offers a enhance luxurious look. The incorporation of wooden interior doors—mainly in new buildings—provides safety features such as fire resistant or fireproof, blast resistant, and bullet resistant, as well as noise cancellation to an extent. These features have led to a positive avenue for the market in the long-term post-pandemic scenarios.

Construction is a vital industry that contributes greatly to Canada’s economic growth. Growing investments in building construction is accelerating the wooden interior door market expansion in Canada. According to Jonas Construction Software Inc., total investment in building construction in Canada increased to 6.3% (i.e., US$ 19.9 billion) in April 2021. The number of building permits reached to about US$ 7.8 billion in January 2021. Investment in residential construction increased to 8.1% (i.e., US$ 15.3 billion) in April 2021. Investment in single-unit residential construction in the country increased to 8.9% in April 2021. Such growth in the building constructions has significantly contributed to the growth of the market in Canada. Thus, the Canada wooden interior door market is expected to grow at a significant rate in North America.

The wooden interior door market is segmented into type, mechanism, end user, and geography. Based on type, the wooden interior door market is categorized into panel door, bypass door, bifold door, pocket door, and others. By mechanism, the wooden interior door market is divided into swinging, sliding, folding, and others. In terms of end user, the wooden interior door market is bifurcated into residential and non-residential. Based on geography, the wooden interior door market is segmented into North America, Europe, and Asia Pacific.

Jeld-Wen, Holding Inc; Marvin Ltd; Masonite International Corp; Woodgrain Inc; and Puertas Sanrafael SA are among the key wooden interior door market players operating in North America, Europe, and Asia Pacific. During this study, several major market players were analyzed to get a holistic view of the global market and its ecosystem.

Contact Us
 
Phone: +1-646-491-9876
Email Id: sales@theinsightpartners.com