Europe Doors Market Unveiling a USD 44.61 Billion Opportunity by 2032: Astute Analytica
Europe's door market hinges open to a US$ 44.61 billion future (CAGR 3.2%), fueled by renovations, energy focus, and urbanization. Wooden doors lead the way, with hinged styles reigning supreme for their aesthetics, security, and functionality.
New Delhi, April 25, 2024 (GLOBE NEWSWIRE) -- The Europe doors market is poised for a promising future, with a projected CAGR of 3.20% reaching a value of US$ 44.61 billion by 2032 from US$ 33.85 billion in 2023.
The renovation sector presents a strong growth engine, valued at €109 billion in 202 and boasting a steady CAGR of 3% until 2030. This sector is less susceptible to economic fluctuations and is fueled by the increasing need for sustainable building upgrades. The EU's ambitious Renovation Wave strategy further bolsters this growth, aiming to double renovation rates to 2-3% by 2030. This translates to a potential 80% reduction in building energy demand by 2050, necessitating widespread door replacements with energy-efficient models. Furthermore, the European shift towards metropolitan areas creates a demand for modern and efficient residential constructions. This urbanization trend, coupled with the need to renovate aging infrastructure, will require a significant number of new doors.
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The EU is actively playing a role in market growth through its €672.5 billion Recovery and Resilience Facility, with a significant focus on building renovations. National Recovery and Resilience Plans also prioritize energy-efficient door installations. These financial initiatives, along with the economic benefits of renovation – every €1 million invested generates 18 jobs and €5 additional GDP – paint a promising picture for the future of the European doors market.
However, challenges such as material price fluctuations, labor scarcity, and high inflation require consideration. Market players will need to navigate these hurdles to fully capitalize on the significant growth opportunities presented by the renovation wave and the increasing demand for sustainable and energy-efficient doors.
*Key Findings in Europe Doors Market*
Market Forecast (2032) US$ 44.61 billion
CAGR 3.2%
By Product Hinged Doors (33.3%)
By Material Wooden Doors (44.3%)
By Application Residential (66.5%)
Top Trends · Energy-efficient doors for renovations & clean energy transition.
· Customization & aesthetics gaining ground, especially in luxury doors.
· Wooden doors rising in popularity for durability, sustainability, and aesthetics.
Top Drivers · Infrastructure investments in energy & water sectors.
· Renovation wave fueled by sustainability & building upgrades.
· Consumer preference for energy-efficient & aesthetically pleasing doors.
Top Challenges · Economic uncertainty & rising construction costs.
· Material price fluctuations & labor scarcity impacting manufacturers.
· Balancing affordability with energy efficiency & sustainability features.
*Investments in Low-Carbon Energy and Infrastructure Renovation Driving Growth in Europe's Door Market*
The European doors market is poised for significant growth. This growth is fueled in part by the booming renovation sector, where sustainability efforts and the need to upgrade existing buildings are key drivers. Investments in low-carbon energy and infrastructure renovations are expected to particularly benefit door segments focused on energy efficiency and security. The EU's Renovation Wave strategy plays a crucial role in this market expansion. This initiative aims to double the annual building renovation rate to 2-3% by 2030, which will undoubtedly stimulate the doors market. This strategy aligns perfectly with the EU's ambitious goal of achieving an 80% reduction in energy demand from buildings by 2050, necessitating widespread upgrades, including doors. To support this vision, the EU's Recovery and Resilience Facility provides a substantial financial boost of €672.5 billion, with a significant focus on building renovations.
The economic benefits of renovation extend far beyond environmental improvements. Every €1 million invested in renovations generates 18 jobs and up to €5 in additional GDP over five years. This highlights the positive impact renovations have on the European economy.
However, the European doors market does face challenges. High inflation, with the Euro area annual inflation reaching 8.6% in June 2023, presents a significant hurdle. Additionally, the European Central Bank's interest rate hikes since July 2022 create further obstacles. Despite these economic headwinds, door manufacturers and suppliers are currently experiencing a buffer due to relatively full order books. Nevertheless, material price fluctuations and labor scarcity remain lingering concerns for the industry.
*Hinged Doors Popularity in Europe Generated a Revenue of $11.28 billion*
Hinged doors reign supreme in European architecture, capturing a significant 33.3% market share in 2023. This enduring popularity stems from their timeless design, user-friendly operation, and seamless integration with diverse architectural styles. Homeowners value their traditional aesthetic and functional versatility, making them a preferred choice. The European doors market thrives on evolving architectural trends, innovative materials, and the burgeoning urbanization and housing development. Wooden hinged doors, a classic favorite, rule the market with a value of $11.28 billion in 2023, highlighting their widespread acceptance.
Beyond aesthetics, hinged doors are champions of safety and security. Their sturdy build and minimal moving parts make them easier to lock and operate compared to sliding doors. This translates to enhanced security, a key factor in their widespread use across Europe. Furthermore, hinged doors are lauded for their excellent value proposition – they're cost-effective, require minimal maintenance, and boast a long lifespan, making them a practical and economical choice for European consumers. Luxury European doors, where Europe holds a commanding 40% share, often showcase hinged doors crafted from premium materials and boasting exquisite designs. These doors transcend functionality, transforming into statements of elegance and exclusivity within residences. In fact, hinged doors account for roughly 75% of the luxury door market, a testament to their enduring appeal.
In residential doors market, hinged doors stay supreme due to their timeless elegance, functionality, and the unobstructed view they offer when fully opened. They also contribute to energy efficiency by minimizing air leakage, potentially lowering energy bills. Hinged doors excel in terms of versatility and customization. From fire-rated options to styles crafted from plastic laminate, flush designs, and veneers, homeowners have a plethora of choices to match both their aesthetic preferences and functional needs. Durability is another key strength. Butt hinges, commonly used with hinged doors, are renowned for their simplicity, strength, and longevity. They can support various door types, including heavy-duty applications – a crucial feature for exterior doors and gates.
*Wooden Materials are Undisputed Champion of the European Doors Market, Generated Over $15.03 Billion in Valuation *
Wooden doors reign supreme in the European market, capturing a commanding 44.3% share. This dominance can be attributed to a multitude of factors that cater to both consumer preferences and practical considerations. Homeowners are drawn to the natural beauty of wood, with surveys revealing that a staggering 60% favor it for its aesthetic appeal. This preference is most evident in the residential sector, which makes up a whopping 70% of the entire door market, and where wooden doors are the clear favorite. The ability to personalize one's living space is a growing trend, reflected in the 25% surge in demand for custom wooden doors over the past five years. This aligns perfectly with the cultural significance of wood in Europe, where 80% of heritage buildings incorporate wooden doors, influencing modern tastes and design choices.
On average, wooden doors boast a 20% longer lifespan compared to doors crafted from other materials. This durability is further complemented by their sustainability credentials across Europe doors market. As environmental consciousness rises, 40% of consumers are happy to pay more for doors made from responsibly sourced wood. Furthermore, wood door manufacturing boasts a 15% lower waste rate compared to alternative materials, making it a more environmentally friendly choice. Functionality is another key strength. Wood offers superior insulation properties compared to metal, making wooden doors 10% more energy-efficient. This translates to potential cost savings on heating and cooling bills. In new residential constructions, a remarkable 65% of projects prioritize wooden doors specifically for their insulation capabilities.
The dominance of wooden doors extends to the luxury market as well. A stunning 90% of luxury homes showcase custom-designed wooden doors, highlighting their enduring association with elegance and exclusivity. The availability of custom designs has also seen a significant rise, with a 30% increase observed in the past decade. This caters to the growing desire for personalized luxury living spaces.
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*The Door Industry in a Shifting European Construction Market*
The European doors market finds itself at a crossroads. The Western European construction market, valued at an estimated $2,093.4 billion in 2023, is projected to grow at a moderate CAGR of 1.4%. However, this mask a more nuanced picture. Economic headwinds are expected to cause a contraction in 2023 and 2024, while infrastructure investments, particularly in energy and water sectors (driven by a focus on clean energy), are poised to be the key growth drivers in the coming years.
Despite the short-term dip, positive indicators exist. The Euroconstruct area, a reliable barometer of European construction activity, saw a healthy 2.3% increase in construction volume in 2022, suggesting continued demand for doors in new buildings. While the residential sector, traditionally the industry's mainstay, is facing a contraction, it remains a significant market.
However, the most promising growth area of the Europe doors market lies in the energy and utilities sector, projected to be the fastest growing construction segment. This focus on clean energy transition creates significant opportunities for doors that prioritize energy efficiency. Challenges remain. Economic uncertainty and rising construction costs (residential building costs have surged 63% since 2000) are undeniable hurdles. However, government initiatives offer a glimmer of hope. For example, Sweden's commitment to renewable energy and infrastructure spending is likely to translate to increased demand for doors in these sectors.
*Europe Doors Market Key Players*
· JELD-WEN Holding, Inc.
· Masonite International Corporation
· Deceuninck NV
· ASSA ABLOY Group
· Dierre S.p.A.
· Hörmann Group
· Kömmerling
· Vicaima Doors
· Solidor Ltd.
· SGM Windows
· Barausse
· Forster Systems
· Other Prominent Players
*Key Segmentation:*
*By Product*
· Hinged
· Bi-Fold & Sliding Doors
· French
· Others
*By Material*
· Wooden Doors
· Solid Wood Doors
· Engineered Wood Doors
· Metal Doors
· Steel Doors
· Aluminum Doors
· uPVC
· Composite Doors
· Others
*By Application*
· Residential
· New
· Improvement & Repair
· Commercial
· New
· Improvement & Repair
*By Country*
· Germany
· UK
· Italy
· Spain
· France
· Russia
· Belgium
· Poland
· Netherlands
· Austria
· Sweden
· Denmark
· Finland
· Greece
· Portugal
· Switzerland
· Norway
· Czech Republic
· Rest of Europe
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*About Astute Analytica*
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CONTACT: Vipin Singh
Phone: +1-888 429 6757 (US Toll Free); +91-0120- 4483891 (Rest of the World)
Email: sales@astuteanalytica.com
Website: https://www.astuteanalytica.com/