Rise in Construction of Commercial and Residential Spaces to Propel Hollow Metal Doors Market: Persistence Market Research
NEW YORK CITY, NEW YORK, USA, Sept. 5, 2022 /EINPresswire.com/ —
The “Global Hollow Metal Doors Market” is expected to grow at a CAGR of 3.6% and reach a market valuation of $4.82 billion by the end of 2032, according to detailed industry analysis by Persistence MarketResearch.
Since security is a concern in all work environments, there is an increasing demand for hollow metal doors in the industrial, residential and commercial sectors. Factors such as durability, strength, security, light weight, toughness, resistance to harsh environment, less maintenance and well insulated materials are driving the global hollow metal door market. Sales were also supported by growing customer preference for hollow metal doors as a better alternative to wooden doors.
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Significant improvements in hollow metal door design, manufacturing techniques, and base material have been made to meet changing market demands and application-specific requirements to maintain market competitiveness.
Key insights from market research
By product type, flush hollow metal doors and panel hollow metal doors are expected to hold a market share of around 60% by 2032.
The honeycomb core material segment is expected to hold the largest market share of over 30%.
By end use, the industrial sector is expected to create an absolute dollar opportunity of US$547.5 million by 2032.
By region, East Asia and North America are expected to account for more than half of the global market share.
“Increase in construction of residential and commercial spaces and growing industrialization are expected to have a beneficial effect on the growth of the market,” says an analyst from Persistence Market Research.
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To improve product reliability, manufacturers are working to develop hollow metal door techniques that take into account the requirements of end users. Companies are expanding their market presence by equipping hollow metal doors with advanced features to provide the perfect combination of security and different door styles.
Some of the Major Hollow Metal Doors Manufacturers included in the report are:
Beacon Metals & Hardware Inc.
Deansteel Manufacturing Co Inc.
Overly Door Co.
door components inc.
Apex Industries Inc.
Porte Mesker inc.
Quality Engineered Products Co.
Houston Starr Company.
Rising demand from end-user sectors such as commercial, industrial, and residential sectors is expected to fuel the growth of the hollow metal door market over the coming years. The market is expected to grow as more and more people prefer to buy metal doors over other material-based doors.
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