Portland, OR -- (SBWIRE) -- 06/26/2018 -- The residential housing segment is the key driver for the growth of the interior doors industry. Of all the interior doors sold, approx. 58% of them are utilized in residential housing projects. The Europe interior doors market has witnessed a positive trend, owing to increasing focus on better interiors and rise in expenditure toward home remodeling.
The interior doors market was valued at $10,340.6 million in 2016, and is projected to garner $14,486.0 million by 2023, registering a CAGR of 5.0% from 2017 to 2023, according to the latest report published by Allied Market Research. The interior doors market in terms of volume sold approximately 12,138 thousand units in 2016, and is projected to reach 18,025 thousand units by 2023 at a CAGR of 4.8% during the study period. Rest of Europe is expected to be the leading contributor to the Europe interior doors market, followed by France and Spain.
Factors such as increase in adoption of energy efficient doors and rise in applications of interior doors are expected to drive the interior doors market in Europe. In addition, the real estate industry has witnessed decent growth in Europe, as the number of residential and commercial projects have increased manifolds in the recent years. Moreover, rapid urbanization has significantly contributed to the growth of the home furnishings market, and subsequently the interior doors industry. However, high costs of producing eco-friendly products has hampered the growth of the interior doors market.
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In 2016, the panel doors accounted for the maximum revenue share of about 69.3% in the overall Europe interior doors market by door type, owing to characteristics such as high tensile strength and remarkable aesthetic features. Moreover, wooden doors are mostly preferred by residential users due to their long shelf life. Moreover, plain panel doors segment of the Europe interior doors market is expected to generate the maximum revenue during 2017-2023.
Top Impacting Factors
Some of the significant factors impacting the Europe interior doors market include development of innovative and energy-efficient interior doors, surge in residential and non-residential construction activities, rapid urbanization & industrialization, changes in building codes, increase in spending for home improvement & home remodeling, and high prices of sustainable & eco-friendly doors.
Moreover, awareness of effectiveness of energy-efficient interior door systems has increased among building owners and consumers. These doors facilitate energy utilization along with reduced wastage of electricity consumption. Building manufacturers have focused on adopting green initiatives to reduce CO2 emissions.
Key Findings of the Europe Interior Doors Market :
The panel doors segment accounted for the maximum revenue in 2017, and is projected to grow at a notable CAGR of 4.6% during the forecast period. The others (Plain panel doors) in the door coverings segment accounted for around 60% of the Europe interior doors market revenue in 2017. The Rest of Europe region comprising, Germany, Italy, Russia, UK, and rest of the countries, is the major shareholder of the Europe interior doors market, accounting for 79.3% share in 2017.
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Key Players:
The key players operating in the Europe Interior doors market are Dimoldura, Puertas Sanrafael, Puertas Proma, Marcos Martinez Minguela, Puertas Castalla, Norma Doors, Puertas Salmar, Dierre Hispnica, Jeld Wen, FORMET PORTE BLINDEE (Formet Entrance Door), SOFTICA Automatic doors, Lapco Inc., Portes Design, Eclisse, The Hrmann Group, Reivilo, PAC DAMAS, KAZED SA, and SOGAL FRANCE. Market players have adopted various strategies such as product launch, collaboration & partnership, and acquisition to expand their foothold and sustain the competition in the industry.