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Hollow Metal Doors market growing at a CAGR of 5.2% from 2022 to 2031
WILMINGTON, DE, UNITED STATES, November 7, 2024 /EINPresswire / -- Allied Market Research has published a report titled, "Hollow Metal Doors Market by Type (Flush Hollow Metal Doors, Hollow Metal Doors with Windows, Paneled Hollow Metal Doors, Others), by Application (New Construction, Renovation), by End User (Commercial and Institutional Building, Industrial Spaces, Others): Global Opportunity Analysis and
industry Forecast, 2021-2031." According to the report, the global hollow metal doors market was valued at $15.7 billion in 2021 and is projected to reach $26.1 billion by 2031, growing at a CAGR of 5.2% from 2022 to 2031. The report provides an in-depth analysis of evolving market trends, key segments, strategic investment areas, value chain dynamics, regional outlook, and competitive landscape.
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Market Drivers, Restraints, and Opportunities
The market growth is being propelled by the rising adoption of automated doors across the commercial sector, particularly in airports, corporate offices, and shopping malls. Additionally, industrialization and urbanization in emerging economies are further stimulating market demand. Increased consumer spending on home remodeling and construction activities is also expected to present significant growth opportunities.
Impact of COVID-19
The COVID-19 pandemic initially hindered the hollow metal doors market due to lockdowns, production delays, and supply chain disruptions in major markets like China, the U.S., and India. The shortage of workforce and raw materials further impacted production. However, with the easing of restrictions and resumption of operations, the market is expected to recover.
Segment Highlights
Type: The flush hollow metal doors segment held the largest market share in 2021, accounting for nearly 40% of the total. This segment is anticipated to maintain dominance due to its versatility and widespread use in various applications, including fire exits, storage rooms, and building entrances. The paneled hollow metal doors segment, however, is projected to witness the highest CAGR of 7.1% during the forecast period, driven by demand for durability and aesthetics.
Application: The new construction segment led in 2021, accounting for more than 80% of the market share, supported by rapid urbanization and new building projects worldwide. The renovation segment is expected to grow at the fastest CAGR of 6.2%, as governments initiate restoration projects for older buildings, driving demand for hollow metal doors.
Regional Insights
Asia-Pacific dominated the market in 2021, capturing over two-fifths of the global market share, and is expected to continue leading through 2031. The region's growth is supported by extensive commercial, institutional, and industrial development in countries like China, Japan, and India, along with infrastructure investments in airports, hotels, hospitals, and malls. Other regions covered in the report include North America, Europe, and LAMEA.
Full Report:
Leading Market Players
AccessSMT Holdings Ltd.
ALLEGION
Baron Metal Industries, Inc.
EightynineA LLC.
GH Hollow Metal Doors & Frames Industries Corp.
TRUDOOR, LLC
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David Correa
Allied Market Research
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