Bifold Doors Market Size to grow by USD 3.05 billion between 2024-2028
According to a research report “ Bifold Doors Market” by End-user (Residential, Non-residential) Type (Interior doors, Exterior doors) Geography (North America, Europe, APAC, South America, Middle East and Africa)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 3.05 billion, at a CAGR of over 5.95% during the forecast period. The global bifold doors market is experiencing significant growth, driven by the increasing preference for multifamily living in numerous economies. This trend is attributed to economic, demographic, and social shifts, including favorable demographic trends and economic growth leading to increased household formations and robust multifamily development. Metropolitan areas have witnessed exceptional growth in their multifamily sectors, fueled by the interest of younger millennials in consuming experiences rather than material possessions. The knowledge economy, which is primarily urban-based, has further amplified this trend, resulting in a strong demand for apartment and condo buildings with access to amenities and convenient commuting options.
Browse market data tables, figures, and in-depth TOC on “Bifold Doors Market” by End-user (Residential, Non-residential) Type (Interior doors, Exterior doors) Geography (North America, Europe, APAC, South America, Middle East and Africa) Global Forecast to 2028. Download Free Sample
By End-user, the Residential segment is projected to dominate the market size in 2024
In the global bifold doors market, the segment for interior doors is projected to experience robust growth. Key catalysts fueling this expansion include the escalating demand within the real estate sector and the surge in home improvement projects. Interior bifold doors represent a viable alternative to hinged or sliding doors, engineered to partition rooms and generate a versatile living space. Ideal for creating distinct areas within a room, these doors offer the benefits of privacy or expanded space as needed. Interior bifold doors are particularly suitable for both large and small interior spaces. Despite requiring more effort to operate compared to hinged or sliding doors, they offer the advantage of covering expansive areas with multiple panels.
By Type, Interior doors segment is expected to hold the largest market size for the year 2024
The residential segment of the global bifold doors market is experiencing robust growth, driven by the expanding residential construction sector. The construction industry represents a substantial portion of the global construction market, with new housing demand closely tied to economic expansion, low unemployment rates, and favorable interest rates. The residential construction market is projected to expand at a considerable pace due to improving consumer financials, reduced interest rates, and declining unemployment. Additionally, population growth and urbanization are key factors fueling residential construction gains. Interest rates significantly influence the cost of monthly mortgage payments, thereby affecting residential construction activity.
North America is forecasted to hold the largest market size by region in 2024
The North America bifold doors market is experiencing robust growth, with the US being a significant contributor due to its high urban population and disposable income levels. In 2022, the US led the North American market in terms of revenue generation. The expansion of the residential sector, driven by increased investment in housing construction, is expected to fuel the market's growth in the region over the forecast period. The US market remains strong, underpinned by the continued growth of the residential sector.
The Bifold Doors Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:
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