The global windows and doors market has been witnessing commendable traction over the past few years owing to rising preference for custom-crafted, attractive, and high-performance products by homeowners. Moreover, architects are increasingly focusing on enhancing the product design and customization of these products, augmenting the windows and doors industry expansion.
How technological advancement has been shaping the product landscape of the global windows and doors market?
Security and automation are the major factors that have been prominently impacting the performance and aesthetics of modern windows and doors. In this regard, it would be prudent to take note of the collaboration formed between Resolution Products and Pella Corporation in 2017 which highlights the growing significance and demand for smart windows and doors across residential and non-residential establishments.
Elaborating further on the partnership, Resolution’s Universal Translator would integrate Pella’s Insynctive Technology to ensure that the firm’s windows and doors are compatible with almost all major security systems. The hidden wireless sensors preserve the aesthetic features of the windows and doors along with built-in security sensors which help installation and security contractors to maintain the warranties of the products.
Needless to mention, the advent of such high-grade and efficient is set to alter the face of product landscape of windows and doors industry in the near future.
Which application segment of the windows and doors market is slated to witness commendable growth over the forecast time frame?
Enhancement and refurbishment of houses along with favorable government support in lowering taxes and interest rates to build new homes has propelled the residential segment of the windows and doors market. According to a research report put together by Global Market Insights, Inc., the residential segment would account for more than 60 percent of the total remuneration share of the windows and doors industry by 2024.
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Which regions are expected to contribute significantly toward the global windows and doors market share in the upcoming years?
Improving disposable income has led to a surge in the demand for affordable homes in the developing nations across the Asia Pacific region. Moreover, the burgeoning residential and commercial segment of the construction sector in this region has fueled the growth prospects of windows and doors market. In fact, as per reliable sources, the Asia Pacific windows and doors industry recorded product consumption of more than 8 billion square feet in the year 2017 and is forecast to expand in the upcoming times.
Higher disposable income in the North American countries has led to the adoption of premium windows and doors for residential and non-residential purposes, essentially boosting the North America windows and doors market in the past few years. For the record, this market is anticipated to expand at an annual growth rate of 3.4 percent over 2018-2024.
The major players in this market are Vinylguard, ATIS Group, Performance Doorset, Sumatera Timberindo Industry, ARBO Window, Pella Corporation, Anderson Corporation, JELD-WEN, RENSON, Fenesta Building Systems, Doorset Solutions Ltd, and LG Hausys.