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Rapid urbanization, industrialization, and increased construction and home remodeling spending drive the growth of the global automatic door market
WILMINGTON, DE, UNITED STATES, November 8, 2024 /EINPresswire / -- Allied
market Research published a report titled "Automatic Door Market by Type (Sliding, Swinging, Folding, and Others) and End User (Commercial, Industrial, and Residential): Global Opportunity Analysis and
industry Forecast, 2019–2026." According to the report, the global automatic door market, which was valued at $22.40 billion in 2018, is projected to reach $41.74 billion by 2026, growing at a compound annual growth rate (CAGR) of 7.8% from 2019 to 2026.
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Market Drivers, Restraints, and Opportunities:
The growth of the automatic door market is being driven by several key factors, including rapid urbanization, industrialization, and increased spending on both residential and non-residential construction. The rise in home remodeling projects also contributes to the demand for automatic doors. However, there are some challenges, such as high initial installation costs and limited demand for automation in smaller or emerging economies, which may hinder growth in certain regions. On the positive side, the increasing need for enhanced safety and security presents significant opportunities for the automatic door market. As businesses and homeowners prioritize security, the demand for reliable, efficient, and secure automatic doors is expected to surge.
The Sliding Segment to Dominate by 2026:
In terms of product type, the sliding segment dominated the global automatic door market in 2018, holding more than two-fifths of the total market share. This segment is projected to maintain its dominance during the forecast period and is expected to grow at the fastest rate, with a CAGR of 8.4% by 2026. The growth of the sliding door segment is largely attributed to the increase in new construction projects and the rising trend of home improvement, where sliding doors are favored for their space-saving and aesthetic benefits.
The Commercial Segment to Lead Throughout the Forecast Period:
The commercial segment was the largest end-user category in 2018, accounting for nearly half of the market share. Automatic doors with swinging and sliding mechanisms are frequently installed during the construction of commercial buildings, not only for their convenience but also to enhance the building's overall appearance and functionality. This trend is expected to continue, driving the commercial segment's dominance in the market. In contrast, the residential segment is anticipated to experience the fastest growth rate, with a projected CAGR of 8.7% from 2019 to 2026. This growth is driven by increased demand for residential buildings and a rise in consumer spending on home improvement projects, including the installation of automatic doors for enhanced convenience and security.
Asia-Pacific to Remain the Largest Market:
Regionally, Asia-Pacific, followed by Europe and North America, accounted for nearly half of the global automatic door market revenue in 2018 and is expected to retain its leadership position through 2026. The region is also projected to exhibit the fastest CAGR of 9.1% during the forecast period. Several factors contribute to the growth of the market in Asia-Pacific, including strong economic growth, rapid urbanization, and a rising population, all of which fuel the demand for both residential and commercial properties, thereby increasing the adoption of automatic doors.
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Key Industry Players:
The automatic door market is highly competitive, with several key players dominating the industry. Leading companies include:
Deutschtec GmbH
GEZE GmbH
Royal Boon Edam International B.V
MANUSA GEST, S.L.
Stanley Black & Decker, Inc.
ASSA ABLOY Group
Nabtesco Corporation
Rite-Hite Holding Corporation
dormakaba Holding AG
Sanwa Holdings Corporation
These companies are engaged in the development of innovative automatic door solutions and are continuously improving their product offerings to cater to the evolving needs of residential, commercial, and industrial users.
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David Correa
Allied Market Research
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MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.