The uptick in household renovations and subsidies offered for residential construction will be a boon for the windows and doors market, according to Delaware-based Global Market Insights.
The increasing demand for energy-efficient products will support industry growth, and subsidies and the building surge will grow the windows and doors market to $211 billion by 2024, the company projected.
Global Market Insights projected demand will grow for new materials such as uPVC or unplasticized polyvinyl chloride, which require less maintenance, are lighter-weight, are fully recyclable and are resistant to weather, termites and chemicals.
Windows and doors made of uPVC will account for highest revenue share – more than $72 billion until 2014 – because materials are corrosion resistant and can effectively support iventilation of a house.
The commercial sector accounted for over 288 million window and door units last year and is expected to grow. The market for strong security gates made of steel, glass and aluminum is expected to grow exponentially because newer products are durable and maintenance free.
Rising awareness of smart systems integrated with security sensors will create demand, the report said. And, because about half of all energy is lost through entrances, products are being developed to control rising costs associated with lighting, cooling and heating of buildings. Another growth area is modernized entrance-and-exit locks with keyless systems and fingerprint security now used mostly in the corporate facilities.
The industry also faces challenges. The report said one challenge is the disposal of older products. Another is the use of toxic materials.
Windows and doors market players are investing heavily in technology modernization to strengthen their foothold in the industry. For instance, in January 2015, Pella launched its Insynctive smart home technology, which is a smart product line for doors and windows designed for automation, comfort, security, and convenience. Insynctive system sensors provide information remotely to homeowners if the gates are closed or open.
