PUBLISHER: DataM Intelligence | PRODUCT CODE: 1360155
PUBLISHER: DataM Intelligence | PRODUCT CODE: 1360155
Global Bifold Door Market reached US$ 10.8 billion in 2022 and is expected to reach US$ 16.6 billion by 2030, growing with a CAGR of 5.6% during the forecast period 2023-2030.
The integration of smart technology into doors is gaining momentum and equipped with sensors, automation is becoming more popular, offering convenience and energy savings. The construction industry is increasingly focusing on energy-efficient building practices. This trend is positively impacting the bifold door market, as energy-efficient doors with good insulation properties are in demand to meet stricter energy codes and reduce long-term operating costs.
According to Canada's National Statistical Agency, June 2021 indicated a significant rise in building construction investment. The figures show an increase from US$ 14,294 million in April 2019 to US$ 19,273 million in 2020. The 2022 U.S. Construction Cost Trends report highlights a notable 16% increase in total construction spending in U.S. since the pandemic. The construction sector is playing a pivotal role in propelling the growth of the bifold doors market.
The growing emphasis on energy-efficient building solutions is influencing the bifold door market. Consumers and businesses are increasingly seeking doors with better insulation properties to reduce heating and cooling costs, making energy-efficient bifold doors a significant trend in the bifold door market.
Asia-Pacific has a rapid urbanization shifting populations from rural to urban areas. This trend is fueling the demand for residential and commercial construction, driving the need for bifold doors in both settings. The construction industry in Asia-Pacific is booming, driven by infrastructure development, residential housing projects and commercial real estate investments, contributing to their prominence in the market. Thus the growing construction sector of the region has made it contribute more than 59.4% to the global bifoldoor market in 2022 and is expected to grow even further in the forecast period.
Energy-efficient bifold doors can contribute to significant cost savings for homeowners and businesses. By minimizing heat transfer and reducing the need for artificial lighting during the day, these doors can lead to lower energy bills. This cost-saving aspect makes them an attractive option for a wide range of customers, further driving demand in the market.
Bifold doors are designed with advanced insulation materials and technology to ensure that they create a tight seal when closed, conserve energy and enhance the overall comfort of indoor spaces by preventing drafts and temperature fluctuations. Bi-folding doors can bring the outdoors in by allowing abundant natural light into interior spaces and a growing preference for well-lit and naturally ventilated spaces, reducing the reliance on artificial lighting and heating.
Urbanization often leads to a surge in construction including residential and commercial buildings, as well as infrastructure projects. As urban areas expand, there is a growing need for doors and windows in these constructions, which includes the use of bifold doors for their space-saving and aesthetic benefits. This rise in construction directly contributes to the expansion of the bifold door market.
In densely populated urban areas, space is at a premium. Bifold doors are favored for their ability to maximize space utilization. They fold neatly to the side, opening up larger openings and blurring the line between indoor and outdoor spaces. This space-efficient design is highly desirable in urban settings, driving the demand for bifold doors.
Bifold doors are easy to install and come in pre-assembled and easy-to-assemble kits, making them more accessible for builders, contractors and even homeowners. The reduced complexity of installation can lead to cost savings on labor and shorter construction times, which are attractive features in the market.
Bifold doors are space-efficient by design. They fold neatly to the side, requiring minimal clearance space compared to traditional swinging doors or sliding doors. This characteristic is highly beneficial in both residential and commercial settings where space is limited, such as small apartments and narrow storefronts and drives market growth.
Bifold doors are chosen for their functional benefits and also for their ability to enhance the overall aesthetic appeal of both residential and commercial spaces. Their clean, modern lines and large glass panels contribute to a contemporary and visually appealing interior and exterior design. This aesthetic appeal drives demand in the market as consumers seek doors that complement their architectural vision.
Customization options in the bifold door market extend to the size and configuration of doors. Consumers can choose from various panel configurations, sizes and folding directions to tailor the doors to their specific space requirements and design preferences. This flexibility aligns with the demand for customizable solutions, further driving market growth.
Manufacturers are also developing new products to meet the consumer demand in the market. For instance, on May 22, 2023, Silka launched its aluminum bifold door to the range. With home extensions, refurbishments and new builds looking for ways to maximize natural light and become more energy efficient, the door set is said by the company to be the perfect product to deliver on these demands.
Bifold doors, especially those with premium features and customization options, can be relatively expensive compared to traditional doors. This cost differential can deter budget-conscious consumers from adopting bifold doors, impacting market penetration. Other door-type sliding glass doors offer lower upfront costs, making them attractive alternatives in the market. The availability of less expensive options can divert potential customers away from bifold doors.
In commercial construction projects, where cost-effectiveness is a critical consideration, high initial costs can lead decision-makers to opt for more economical door alternatives and limit the adoption of bifold doors in market segments. The cost of the doors themselves, the installation of bifold doors requires structural modifications to accommodate their weight and folding mechanisms and further elevates the initial expenses, potentially discouraging buyers.
Bifold doors, like any mechanical and moving parts, require regular maintenance to ensure their proper functioning. These maintenance costs, including lubrication, adjustments and potential repairs, can add to the overall ownership expenses of bifold doors. This can make potential customers hesitant, particularly in cases where they are seeking cost-effective door solutions.
Maintaining bifold doors can be time-consuming and requires technical expertise. Business owners and homeowners who prefer low-maintenance solutions reluctant to invest in bifold doors, especially in high-traffic commercial settings where frequent use can lead to more wear and tear and further restrains market growth.
The global bifold door market is segmented based on material, product, application, end-user and region.
The glass segment held the largest share accounting for nearly 1/3rd market share in 2022 of the global bifold door market. Glass bifold doors are favored for their sleek and modern appearance, which complements contemporary architectural designs and makes them a popular choice in the market. Glass bifold doors maximize the entry of natural light into interior spaces, creating well-lit and inviting environments. This feature aligns with the market's preference for bright and visually appealing spaces.
Glass bifold doors offer a seamless transition between indoor and outdoor spaces, a trend that's highly sought after in the market. They create a sense of continuity and openness, enhancing the overall living experience. Glass bifold doors are versatile and suitable for various applications, including residential homes, commercial spaces, restaurants and retail stores. Their adaptability to different settings contributes to their market dominance.
Market players are also responding to consumer demand by developing new products in the market. For instance, on March 27, 2023, Marvin, a renowned premium windows and doors manufacturer, introduced the Elevate Bi-Fold door in response to the increasing consumer demand for seamless indoor-outdoor living. This innovative exterior door boasts a versatile design tailored for remodeling or replacement projects in compact spaces.
Asia-Pacific is leading the global bifold door market and countries like India, China and Japan hold more than 65.4% share in the region market. Asia-Pacific is growing rapid urbanization, with a significant shift of populations from rural to urban areas fueling the demand for construction, driving the need for bifold doors in both settings. Changing lifestyles and open-plan living spaces are leading to increased adoption of bifold doors and creating seamless transitions, aligning with the preferences of many consumers in the region.
Asia-Pacific has a different climate, from tropical to temperate. Bifold doors, with their ability to provide natural ventilation and maximize natural light, are well-suited to these diverse climate conditions, making them a sought-after choice. Growing environmental concerns and energy efficiency regulations are driving the demand for energy-efficient building solutions and gaining popularity in Asia-Pacific market, contributing to their dominant position.
The bifold door market, like many industries, faced supply chain disruptions due to factory closures, transportation limitations and delays in the production and delivery of raw materials. These disruptions led to increased lead times and reduced product availability, affecting the market's overall efficiency.
The pandemic caused significant delays in construction projects, including residential and commercial buildings. Many construction sites were temporarily shut down or operated at reduced capacity due to lockdowns and safety protocols. These delays harmed the demand for bifold doors in construction applications.
However, during lockdowns and periods of restricted movement, many individuals and families turned to home improvement projects. This increased interest in home renovations, including door replacements, positively affected the residential bifold door market. Consumers sought more attractive and functional doors for their homes, including bifold doors that provide aesthetic appeal and space-saving benefits.
The pandemic accelerated the adoption of e-commerce for purchasing home improvement products. Customers increasingly turned to online platforms to research and buy bifold doors. This shift toward digital channels provided opportunities for bifold door manufacturers and suppliers to expand their online presence and reach a broader market.
The conflict has led to geopolitical tensions and economic sanctions, which can affect the global supply chain for materials used in bifold door manufacturing. The disruption in the supply of materials such as aluminum, steel, or glass can impact the production capacity of bifold door manufacturers and potentially lead to price fluctuations in the market.
The Russia-Ukraine conflict has implications for energy and both countries are significant players in the global energy sector. Fluctuations in energy prices in oil and gas can influence construction and manufacturing costs, which have downstream effects on pricing and demand within the bifold door market.
The war's direct impact on Ukraine and the surrounding region can influence economic conditions in those areas. Economic instability or recession in these regions can affect construction activity and consumer spending on home improvements, which, in turn, can influence the demand for bifold doors.
The major global players in the bifold door market include: AG Millworks andERSEN Corp., Clear View Bi-folding Doors Ltd, JELD-WEN HOLDING, Inc., LaCantina Doors Inc., Marvin Lumber and Cedar Co., Pella Corp., Ply Gem Industries Inc., TWR Trade Frames Ltd., YKK Group.
The global bifold door market report would provide approximately 69 tables, 69 figures and 193 Pages.
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