The Hollow Metal Doors Market is projected to grow from $3.32 billion to $4.64 billion, at a CAGR of 3.8% during the forecast period 2021-2030.
One of the most common types of doors used in commercial and industrial environments is the Hollow metal door. The hollow metal door consists of a steel frame with steel panels laminated on both sides. Doors are usually equipped with mounts for hinges and pockets for mortise locks.
Most of the new and modernized building projects in the commercial, institutional, and healthcare sectors have started using hollow metal doors nowadays. These doors are available with automatic door operators and are available in different security levels in explosion-proof and ballistic versions. They are also extremely fire resistant and can be used with a UL-listed fire rating of up to 2 hours. These are some of the features which are propelling the hollow metal doors market.
Market Dynamics:
Drivers:
The demand for hollow metal doors is largely driven by the growing multi-family housing trend, the growing adoption of automatic doors in the commercial sector, and the development of energy-efficient doors. Modern automatic doors are used in various commercial areas such as airports, shopping malls, and corporate offices.
Another significant factor driving the hollow metal doors market is the increase in government spending on residential and commercial building development. Moreover, increasing industrialization and urbanization in economies including India and Africa are expected to cater to the development of the hollow metal doors market. Additionally, the surge in consumer spending on home improvement and improvement activities and improvement in new construction activities are expected to provide compensatory growth opportunities for market participants.
Restraints:
Fluctuating prices of raw materials such as metals are expected to hamper the growth of the hollow metal doors market. Delays in the projects are one of the limiting factors negatively affecting the Hollow Metal Doors Market.
Opportunities:
Depending on the end-user-specific applications of hollow metal doors, manufacturers are offering a wide range of products with different operational advantages, such as fire-resistant, ballistic, and explosion-proof versions. New potential and economic growth opportunities in the door manufacturing sector have been brought about by the global industrial and commercial revolution.
Key Players:
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AccessSMT Holdings Ltd.
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ALLEGION
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Baron Metal Industries, Inc.
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Beacon Commercial Door & Lock
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CECO DOOR
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Concept Frames
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Curries
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DCI Hollow Metal
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Deansteel Manufacturing Company, Inc
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DKS Steel Doors & Frames, Inc
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EightynineA LLC
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Fleming
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Houston-Starr Company
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Plyler Entry Systems
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Quality Engineered Products Co.
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TRUDOOR
Market Segmentation:
By Application
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New Construction
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Renovation
By Type of Door
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Flush Hollow Metal Doors
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Hollow Metal Doors with Windows
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Paneled Hollow Metal Doors
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Others
By End User
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Residential
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Commercial
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Industrial
By Region Type
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North America
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Europe
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Asia-Pacific
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LAMEA
Regional Analysis:
Asia Pacific dominated the market in 2021, holding the largest share, and is expected to maintain this trend throughout the hollow metal doors market forecast period. This has happened due to population growth, urbanization, and industrialization. Therefore, all these factors are expected to drive the hollow metal doors market growth in Asia Pacific.
North America is expected to have escalating growth during the forecast period. It is anticipated to be the fastest-growing region in this market. The hollow metal door material’s demand is increasing extensively in this region.
Scope of the report:
|
Report Coverage |
Details |
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Base year |
2021 |
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Forecast period |
2030 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 3.8% |
|
YoY growth (%) |
XX% |
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Regional analysis |
The Middle East, Europe, North America, Latin America, Asia Pacific, and Africa |
|
Current Market size |
USD 3.32 Billion |
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Forecast market growth |
USD 4.64 Billion |
User
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Introduction
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Market Size Estimation
The overall size of the market has been estimated and validated using both top-down and bottom-up methods. The sizes of other market subsegments have also been thoroughly estimated using these methodologies.
In the top-down technique, the market is divided into segments based on the percentage share of each segment. This method assisted in determining the size of each segment's market. The market size of each segment and its sub-segments was then divided into regional market sizes. This Approach helps mainly with the new Product Launch. It uses Multi-variate Regression Model coupled with Vendor based primary research inputs to forecast to the Market Size.
In the Bottom-Up approach, comprehensive study of key players has to be done wherein we add the market size of the major key players to understand the national market size which helps to determine the regional market size and eventually the complete market size. Companies annual report along with data from paid and unpaid resources like reports from government agencies and organizations like world bank provide the data for this approach.
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