Wooden Interior Door Market Size to Hit $21.47 Billion, Globally, by 2028 – Exclusive Report by The Insight Partners
According to The Insight Partners, “Wooden Interior Door Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type (Panel Door, Bypass Door, Bifold Door, Pocket Door, and Others), Mechanism (Swinging, Sliding, Folding, and Others), End User (Residential and Non-Residential), and Geography,” the market is expected to grow from US$ 15.45 Billion in 2022 to US$ 21.47 Billion by 2028; it is estimated to register at a CAGR of 5.6% from 2022 to 2028.
The wooden interior door market growth is attributed to the rising construction sector due to growing urbanization. China, the US, India, Japan, Canada, Indonesia, France, Germany, Australia, and Spain witnessed significant growth in the construction market due to the rise in house-building projects and favorable government policies. Further, using sustainable and certified forest trees for manufacturing wooden interior doors is anticipated to propel the wooden interior doors market in the coming years.
Based on customer’s design space and budget, different types of interior doors are available in the wooden interior doors market. The adoption of the latest types of interior doors such as standard stile, barn doors, rail doors on hinges, and custom wood door topping is significantly high across the world. As compared to traditional door swings, barn doors offer additional functionality and save space; hence, the standard doors are being converted into barn doors. Thus, the rising construction of barn doors is projected to fuel the adoption of sliding doors, which is propelling the wooden interior doors market.
Although several manufacturers have showrooms to attract customers, a wider customer base can be easily approached through distributors and retailers. Hence most manufacturers have several regional distributors and retailers. Lowe and IKEA are prominent multi-chain retailers who aid wooden interior door manufacturers reach a wider audience. Depending on profitability and desired quality, a construction company may choose different door manufacturers for different projects. For a homeowner undertaking renovations, pricing, finish, color, and quality are key factors to consider. This has influenced the wooden interior door market players to innovate their product, offer several color options, and adopt competitive pricing strategies. This factor is further influencing the wooden interior door market growth.
Courtesy: https://finance.yahoo.com/news/wooden-interior-door-market-size-091000611.html