MarketThe globalindustrial doorsmarket was valued at USD 1.63 Billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 6.9% between 2021 to 2028.The industrial doors market is driven by factors such as emerging economies, technology advancement in the construction sector. While increased cost of installment and maintenance are some restraints for the market. Growing industrial renovation are some opportunities for the market.
Since the outbreak of the COVID-19, It has widely spread all over the world and has impacted many countries' economies, and caused huge losses in businesses. The industrial doors market is experiencing a negative growth as new construction activities were completely shut during the pandemic also due to lower supply and raw material availability affected the market.
The industrial doors market is segmented on the basis of type and application. The type of segment is further bifurcated into folding doors, rolling doors, swinging doors, and others. The rolling sector is holding the largest share and shows potential growth in future forecasts. The application segment is divided into pharmaceutical, food & beverage industry, warehouses, and others. Based on these the warehouses are the at having the largest share and potential growth for further forecasted years.
The major players for the industrial doors market are ASSA ABLOY, Wilcox Door Service, JB Industrial Doors, SACIL HLB, Atlanta Door Corporation, DITEC, Jamison Door, DoorHan, KRUZIK, Tru-Bilt Industries, Novoferm GmbH, ASSA ABLOY, Gandhi Automations, BATOR GROUP, Hörmann, AM Group, American Industrial Door, Champion Door, ITW Industrietore, KONE PLC, SHUSTER.
Regionally, the market is segmented as Asia-Pacific, Europe, North America, the Middle East, and Africa, and Latin America. Asia-Pacific attained the highest share due to the presence of emerging economies in the region and rising factories and manufacturing units in the region.