According to a new report published by Allied Market Research, titled, “Sectional Doors Market,” The sectional doors market size was valued at $5.4 billion in 2021, and is estimated to reach $8.6 billion by 2031, growing at a CAGR of 4.9% from 2022 to 2031.
The increasing demand for sectional doors can largely be attributed to the increasing number of establishments such as parking garages, shopping centers, manufacturing establishments, warehouses, and other similar facilities having large doors. Typically, sectional doors consist of panels made up of materials such as aluminum, steel, PVC, fiberglass, and others. Among these, the steel segment accounted for the highest market share in 2021, owing to its high strength, and durability.
The market is analyzed with respect to different applications such as exterior and interior. Out of these, the exterior segment accounted for the highest market share in 2021, owing to high demand from residential and non-residential users.
By end user, it is based on residential and non-residential. The market is mainly driven by the rise in industrialization in developing countries, the increasing number of vehicles in households, and the development of commercial infrastructure throughout the regions. However, the fluctuating cost of raw materials and high investment and maintenance costs constrain the sectional doors market growth.
𝐆𝐞𝐭 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐟𝐮𝐥 𝐈𝐧𝐟𝐨𝐫𝐦𝐚𝐭𝐢𝐨𝐧 – https://www.alliedmarketresearch.com/sectional-doors-market/amp
Region wise, the sectional doors market share is analyzed across North America, Europe, Asia-Pacific, and LAMEA. In 2021, Europe dominated the global sectional doors market, in terms of revenue. Moreover, the market in LAMEA is anticipated to grow with the highest CAGR, owing to growth in industrialization in the region.
Various manufacturers in the sectional doors market such as Hörmann Group, Megadoors, Miacasa Steel Industries LLC., RJ Garage Doors, and Saudi Anfal Group offer a wide variety of sectional doors for residential as well as non-residential applications. For instance, in April 2021, Hormann Group, which is an industrial door supplier and installer has done a major product development to the Hormann series 60 industrial sectionals doors.
However, during the pandemic lockdown, various manufacturers in the sectional doors market had to stop their business in countries such as China, Australia, U.S., UAE, and countries in Europe. This break directly impacted sales of sectional doors manufacturing companies.
In addition, the lack of manpower and raw materials constricted the supply of raw materials for sectional doors; and negatively influenced the growth of the market. However, after two years of COVID-19 outbreak and the introduction of vaccinations, the severity of the pandemic has significantly reduced and key players in the market are recovering rapidly.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
This release was published on openPR.