Revolving Doors Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product Type (Three Wings and Four Wings), Operation Type (Manual and Automatic), and Application (Commercial and Industrial)
Publication Month: Jan 2022 |
Report Code: TIPRE00015351
| No. of Pages: 159
| Category: Manufacturing and Construction
| Status: Published
The revolving doors market is projected to reach US$ 1,121.42 million by 2028 from US$ 860.83 million in 2021; it is estimated to grow at a CAGR of 3.9% from 2021 to 2028.
Huge investments in the infrastructure sector specifically for retail spaces, commercial office buildings, manufacturing facilities, metro rail lines, and airport expansion and construction are benefitting the continually expanding construction sector. Thus, the increasing number of commercial construction projects, including shopping complexes and retail stores, is significantly fueling the demand for revolving doors. Further, the rise in urbanization results in the construction of numerous hospitals, offices, large retails, and theatres. According to the Civil Aviation Administration of China (CAAC), China aims to construct 216 new airports by 2035 to meet the rising demands for air travel. In 2020, the building construction spending in Asia crossed US$ 4.5 trillion, which was ~50% of the global expenditure on construction projects. Thus, the demand for revolving doors is increasing in countries such as China and India as the government and the private sector are making efforts to improve infrastructure of these countries. Their efforts revolve around improving smart cities, with a major focus in the use of nontoxic, recycled, and environment-friendly materials. Thus, the rising disposable income of people with changing lifestyles and elevating infrastructure spending is propelling the market growth.
Strategic Insights
Report Coverage - Revolving Doors Market
Report Coverage
Details
Market Size Value in
US$ 860.83 million in 2021
Market Size Value by
US$ 1,121.42 million by 2028
Growth rate
CAGR of 3.9% from 2021 to 2028
Forecast Period
2021-2028
Base Year
2021
No. of Pages
159
No. of Tables
88
No. of Charts & Figures
78
Historical data available
Yes
Segments covered
Product Type, Operation Type, and Application
Regional scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country scope
US, Canada, Mexico, UK, Germany, Russia, Italy, France, India, China, Japan, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
Report coverage
Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Free Sample Copy Available
Impact of COVID-19 Pandemic on North America Revolving Doors Market Size
North America is a prominent regions in the global revolving doors market due to the existence of government policies boosting innovation and presence of a huge industrial base, especially in developed countries such as the US and Canada. For instance, in Canada, the construction industry is experiencing aignificant growth in a few major cities, such as Toronto and Vancouver, as developers are registering good profits on investments, mainly with the demand for high-density commercial and industrial projects. In 2020, the limited availability of workforce, shortage of materials and supplies, reduction in productivity rates, and suspension and cancellation of projects/contracts hindered the revolving doors market growth. According to a national survey conducted by the Associated General Contractors of America (AGCA), out of 1,077 respondents, 78% of the contractors experienced project delays. However, since the late Q3 of 2020, with the relaxation of lockdown rules, the construction sector started to operate with ease, thereby reporting a rise in demand for revolving doors.
Lucrative Regions for Revolving Doors Market
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Market Insights – Revolving Doors Market
Application-Based Insights
Based on application, the revolving doors market is segmented as commercial and industrial. The commercial segment led the market in 2021. The commercial segments comprise airports, train stations, government facilities, commercial buildings, education institutions, data centers, financial institutions, malls, hotels, and others. Due to the growing emphasis on national security, governments across the world are investing substantially in advanced security solutions, including revolving doors with modernized security scanning capabilities. Defense and government facilities possess vital data and assets pertaining to national security. Thus, unauthorized access to such crucial facilities can result in an unforeseeable national threat. Meanwhile, train stations and airport authorities are also adopting revolving doors with modernized security scanning capabilities.
The revolving doors market is segmented on the basis of product type, operation type, application, and geography. Based on product type, the market is bifurcated into three wings and four wings. On the basis of operation type, the revolving doors market is segmented into manual and automatic. The market basec okn application is segmented into commercial and industrial. In terms of geography, the revolving doors market is segmented into North America, Europe, Asia Pacific, the Middle East and Africa, and South America. ASSA ABLOY, CoMETA SpA, dormakaba Group, GEZE GmbH, Horton Automatics, KONE Oy, Manusa, Royal Boon Edam International B.V., Stanley Access Technologies LLC, and TORMAX are among the key players profiled during the revolving doors market study.
Players operating in the revolving doors market are mainly focused on the development of advanced and efficient products.
In 2021, Royal Boon Edam International B.V. relaunched their next-generation high-security doors—the Tourlock 180 and Tourlock 120. Both these models are compliant with the European Standard EN 17352.
In 2021, Dormakaba won ICONIC AWARD 2021 for its KTV revolving doors, the LA GARD 700 safe locks, and the Skyfold Classic 55 partition wall system.
The commercial is the largest end users of revolving doors. The commercial segments comprise airports, train stations, government facilities, commercial buildings, education institutions, data centers, financial institutions, malls, hotels, and others. Growing urbanization is projected to create ample growth opportunities for the uptake of revolving doors among end users, such as commercial buildings, education institutions, financial institutions, malls, hotels, and others.
North America led the revolving doors market in 2020, majorly due to presence of a large of number of data centers. States such as California, Texas, Florida, Pennsylvania, New York, Massachusetts, Arizona, Washington, North Carolina, Virginia, Ontario, and British Colombia have become data center hubs in the region. Companies such as CenturyLink, Digital Realty Trust, L.P., Equinix Inc., and AT&T, Inc. are among the leading data center colocation players in North America, and they are expanding at an exponential rate. In 2020, Equinix, Inc. acquired 13 data centers of Bell in Canada for US$ 780 million. Also, the growing expansion activities in the region is contributing towards the market growth.
ASSA ABLOY, CoMETA SpA, dormakaba Group, GEZE GmbH, and Stanley Access Technologies LLC in 2020. The positioning of these Five Key Players is derived by giving weightage to the following key performance parameters: overall revenue, segment revenue, geographical reach, customer base, new product launches, market initiatives, investment in technology up gradation, R&D investments, mergers & acquisitions, and other market related activities.
The three wings segment led the market. three wings revolving doors are also preferred choices for commercial spaces, such as malls and hotels. Further, market players offer three wings revolving doors in various specifications from small compact design to large size three wings revolving doors and automated systems. The growing rate of urbanization and the rising disposable income among the masses are leading the increase in shopping malls projects across the world, driving the growth of the revolving doors market. The continual expansion in the travel and hospitality sector is fueling the global revolving doors market.
Green buildings (GB) offer a number of economic or financial benefits relevant to a range of different people or groups of people. Green building constructions seek to address the housing demands of the growing populace with better qualities, energy efficiency, using recycled and recyclable materials, and improving occupants' building lifespan and health. The building sector has the largest potential for significantly reducing greenhouse gas emissions compared to other major emitting sectors. This emissions savings potential is said to reach 84 gigatonnes of CO2 (GtCO2) by 2050, through direct measures in buildings, such as energy efficiency, fuel switching, and the use of renewable energy. More government agencies, property developers, corporate real estate managers, and universities now acknowledge and even incorporate green design ideas and measures in their construction projects. Also, various green building projects of 2021, such as Net-Zero Buildings, are propelling the market growth significantly.
Revolving doors are energy efficient and help prevent drafts and, thus, reduce the loss of heating or cooling of the buildings. The rise in construction of high-tech airports, cinema halls, grand hotels, shopping malls, and others is expected to influence the revolving doors market demand over the forecast period. Rapid growth in the construction activities and the increase in the adoption of door automation in developed and developing countries are propelling the global revolving doors market growth. Security, ease of operation, the fast and accurate operation is also augmented in the revolving doors market growth. The rising implementation of automatic doors in commercial and industrial spaces and growing awareness about new and developing technologies are expected to offer ample growth opportunities for the revolving doors market players.
The List of Companies - Revolving Doors Market
ASSA ABLOY AB
CoMETA SpA
dormakaba Group
GEZE GmbH
Horton Automatics
KONE Ojy
Manusa
Royal Boon Edam International B.V
Stanley Access Technologies LLC
TORMAX USA Inc.
Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the global revolving doors market
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Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it
Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution
Examine the political, economic, social and technology impact of the five regions namely: North America, Europe, Asia-Pacific and Rest of World.
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