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The bifold doors market size is estimated to grow at a CAGR of 5.95% between 2023 and 2028. The market size is forecast to increase by USD 3.05 billion. The growth of the market depends on several factors such as the growing popularity of multifamily dwellings, increasing construction of skyscrapers and innovations in energy-efficient bifold doors.
The report includes a comprehensive outlook on the bifold doors market offering forecasts for the industry segmented by End-user, which comprises residential and non-residential. Additionally, it categorizes Types into interior doors and exterior doors and covers Geography regions, including North America, APAC, Europe, Middle East and Africa, and South America. The report provides market size, historical data spanning from 2018 to 2022, and future projections, all presented in terms of value in USD billion for each of the mentioned segments.
Bifold Doors Market Forecast 2024-2028
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Our researchers studied the data for years, with 2023 as the base year and 2024 as the estimated year, and presented the key drivers, trends, and challenges for the market.
The increasing construction of skyscrapers is one of the major factors driving the growth of the bifold doors market. The increase in urbanization requires cities to maximize land use. The rate of urbanization in recent decades has been exponential. As a result, there is an increase in the construction of taller buildings such as skyscrapers and underground structures around the world, especially in emerging economies. Moreover, High-rise buildings and skyscrapers have played a vital role in the perception of the main urban cities. The choice of an individual contractor or organization to construct a high-rise building is driven to some extent by corporate office space needs or local market interest in apartments or lodging rooms with a view.
Additionally, human aspirations, ego, and other non-financial components influence the development of high-rise structures. Thus, the increasing construction of skyscrapers is expected to grow the global bifold doors market during the forecast period.
The rising adoption of bifold doors in residential and commercial buildings is one of the major trends driving the growth of the bifold doors market. Bifold doors are popular as maximum levels of light are allowed to enter buildings whilst offering privacy when needed. Due to their solid construction and ease of use, bi-folding sliding doors are ideal for both homes and businesses that want to enjoy a greater feeling of light and that want to turn the outside space into another usable room. The bi-fold door installation results in an open space with easy and practical access to an external courtyard and more natural light. Due to their practicality and ability to link exteriors with interiors, bi-folding doors are becoming increasingly popular, making them ideal for homes with gardens or patios and commercial spaces, especially restaurants and cafes.
Moreover, the contemporary and modern design of bifold doors can be a stunning feature, adding that wow factor to the space. The simplicity and the sleek-look design create a seamless open space for residential and commercial buildings with a wide range of colors, styles, and designs. Thus, the rising adoption of bifold doors in residential and commercial buildings is expected to grow the bifold doors market during the forecast period.
The intense competition and changing consumer preferences are one of the major challenges in the global bifold doors market. The quantity, type, and prices of door products demanded by consumers have shifted over time. For example, the demand has increased for multifamily housing units such as apartments and condominiums, which, in turn, has increased the demand for bifold doors. In certain cases, these shifts can negatively impact the sales of bifold doors. For instance, consumer preference for sliding doors can adversely affect the bifold doors market. In addition, vendors must continuously anticipate and adapt to the growing use of technology by customers. The suppliers in the market are experiencing shifts in consumer preferences and purchasing practices and transformations in the business models and strategies of customers.
Moreover, customers are frequently using the Internet to research door products and to inform and contribute feedback on their ownership and purchasing experience for these products. Trends toward online purchases could affect suppliers' ability to compete as several companies currently sell a significant portion of door products through wholesale distributors, retail home centers, and building product dealers. Thus, the intense competition and changing consumer preferences are hindering the growth of the bifold doors market during the forecast period.
The market share growth by the residential segment will be significant during the forecast period. The residential segment is growing at a significant rate in the bifold doors market. The construction or housing market comprises a significant market share of the global construction market. New housing demand directly relies on economic growth, unemployment rate, interest rate, and consumer confidence.
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The residential segment was the largest and was valued at USD 5.50 billion in 2018. The global residential construction market is anticipated to grow at a significant pace due to strengthening consumer finances, lower interest rates, and decreasing unemployment, which will help reduce the stock of excess housing and support new starts across the globe. Another crucial factor that determines the development of the housing market is lower levels of unemployment. When unemployment is rising, fewer individuals will have the capacity to bear the cost of a house. However, even the fear of unemployment may demoralize individuals from entering the property market. The increased economic growth, coupled with increased employment, will lead to a better market for housing, fueling the demand for bi-fold doors. Thus, the increasing house prices indicate a strong demand for housing in the residential construction segment, driving the growth of the bifold doors market during the forecast period.
Based on the type, the market has been segmented into interior doors and exterior doors. The interior doors?segment will account for the largest share of this segment.? The interior bifold doors segment is expected to grow at a significant rate in the bifold doors market. The major drivers for interior bifold doors are the increasing demand in real estate industries and the rise in expenditure on home remodelling projects. Interior bifold doors are an alternative to hinged or sliding doors, specifically designed to divide rooms and create a flexible closed or open living space. Moreover, the top brands of interior bifold doors that are designed specifically for interior use in the home, office, or other commercial building are Sunflex UK SF45 internal bifold doors, solarlux SL45 internal bifold doors, sunseeker frameless glass room dividers, sunflex UK slide and turn systems, frameless glass curtain single glazed room dividers. Thus, with the increasing demand for interior bifold doors in residential and commercial spaces, the global bifold doors market is expected to grow during the forecast period.
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North America is estimated to contribute 33% to the growth by 2028. Technavio’s analysts have elaborately explained the regional trends, drivers, and challenges that are expected to shape the market during the forecast period. North America region is growing at a significant rate in the bifold doors market. The US is one of the most urbanized countries with a population that has a high spending capability. Many people can afford to have bifold doors in their houses. In 2022, the US was the leading revenue-generating country in North America.
Moreover, the growth of the residential sector is expected to drive the market for bifold doors in the region. Investment in residential construction will drive the growth of the bifold doors market in the region. The US remained strong with the growing residential sector. The strong growth in the residential segment can be seen in the increasing number of new housing units started in the US. These factors are driving the demand for healthcare facilities in the region during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
AG Millworks - The company offers bifold patio doors or patio doors in different colors.
We also have detailed analyses of the market’s competitive landscape and offer information on 20 market companies, including AG Millworks, ANDERSEN Corp., Associated Design and Installations Ltd., AWM Building Maintenance Ltd., Brennan Enterprises., Clear View Bi-folding Doors Ltd., Cornerstone Building Brands Inc., Euramax Solutions Ltd., Frameless Glass Curtains Ltd., JELD WEN HOLDING Inc., Kloeber UK Ltd., LaCantina Doors Inc., Lux Windows and Glass Ltd., Marvin Lumber and Cedar Co., Origin Frames Ltd., Pella Corp., Sightline Aluminium Glazing Systems, Solarlux GmbH, Sunflex UK, The Bi-Folding Door Co., TWR Trade Frames Ltd., Viva Doors Ltd., YKK Group, and Deceuninck Group
Technavio report provides an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis classifies companies into categories based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Companies are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data analysis.
The bifold doors market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
Bifold Doors Market Scope |
|
Report Coverage |
Details |
Page number |
161 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.95% |
Market Growth 2024-2028 |
USD 3.05 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
5.09 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 33% |
Key countries |
US, Canada, Japan, UK, and Brazil |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
AG Millworks, ANDERSEN Corp., Associated Design and Installations Ltd., AWM Building Maintenance Ltd., Brennan Enterprises., Clear View Bi folding Doors Ltd., Cornerstone Building Brands Inc., Euramax Solutions Ltd., Frameless Glass Curtains Ltd., JELD WEN HOLDING Inc., Kloeber UK Ltd., LaCantina Doors Inc., Lux Windows and Glass Ltd., Marvin Lumber and Cedar Co., Origin Frames Ltd., Pella Corp., Sightline Aluminium Glazing Systems, Solarlux GmbH, Sunflex UK, The Bi Folding Door Co., TWR Trade Frames Ltd., Viva Doors Ltd., YKK Group, and Deceuninck Group |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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