According to a new report published by Allied Market Research titled, “Bifold Doors Market by Material (Wood, Metal, Glass, Vinyl, Fiberglass, and Others), Application (Interior Doors and Exteriors Doors), and End User (Residential and Nonresidential) – Global Opportunity Analysis and Industry Forecast, 2017-2023”;the global bifold doors market was valued at $9,779 million in 2016, and is projected to reach at $13,929 million by 2023, growing at a CAGR of 5.2% from 2017 to 2023.
Asia-Pacific is expected to be the leading contributor to the global bifold doors market, followed by Europe and North America.
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In 2016, the glass segment accounted for the maximum revenue share in the overall bifold doors market by material, as this material ensures insulation and provides energy-efficient doors. Moreover, the application of glass bifold doors as door-wall system is widely preferred by various residential users.
Fiberglass segment is expected to grow at a fastest CAGR of 7.1%, owing to superior insulation and lower maintenance. Moreover, the glass and wood segments are expected to generate maximum revenue during the forecast period.
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The key players profiled in the bifold doors market include Andersen Corporation, BiFolds BiDesign Ltd., Chase Windows Co., Euramax Solutions Limited, JELD-WEN, Inc., Kloeber, Nana Wall Systems, Inc., Origin Frames Ltd., Pella Corporation, and The Bi-folding Door Company.
Market players have adopted various strategies such as product launch, collaboration & partnership, and acquisition to expand their foothold in the market.
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Key Findings of the Bifold Doors Market:
- In 2016, the glass segment accounted for the maximum revenue and is projected to grow at a notable CAGR of 5.2 during the forecast period.
- The exterior doors segment accounted for around 66.3% share in 2016.
- UK and France are the major shareholders in the Europe bifold doors market, accounting for more than 44.2% share in 2016.
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