April 22, 2024
High Performance Doors Market

High Performance Doors Market to Witness Growth driven by Rising Demand from Construction and Healthcare Sector

The high performance doors market includes products such as folding doors, revolving doors, speed doors and others which offers facilities including fire protection, thermal resistance along with durability and security. High performance doors are used across various industrial and commercial applications including factories, warehouses, airports and hospitals owing to their long operating lifespan and ability to resist natural calamities and harsh weather conditions.

The global high performance doors market is estimated to be valued at US$ 4.94 Bn in 2024 and is expected to exhibit a CAGR of 7.3% over the forecast period from 2024 to 2030.

Key Takeaways

Key players operating in the high performance doors market are GlaxoSmithKline plc, Sanofi S.A., Pfizer Inc., Merck & Co. Inc., Novartis AG, Johnson & Johnson, Eisai Co. Ltd, Takeda Pharmaceuticals, AstraZeneca, Valeant Pharmaceuticals, Mitsubishi Tanabe Pharma, Abbott, F. Hoffmann-La Roche Ltd, Sun Pharmaceutical Industries Ltd, Lupin Pharmaceuticals Inc., BioCryst Pharmaceuticals Inc., Mallinckrodt Pharmaceuticals, Serum Institute of India Pvt. Ltd., CSL Limited, Teva Pharmaceutical Industries Ltd.

The growing construction industry across developing regions of Asia Pacific and Middle East & Africa is creating significant opportunities for market players. Rapid industrialization and increasing infrastructure spending is driving the demand for high performance doors from manufacturing and warehouse facilities in these regions.

The key players are focusing on expansion in global markets through partnerships, mergers and acquisitions. For instance, in 2022 GlaxoSmithKline partnered with Vir Biotechnology to expand its product portfolio of novel medicines for infectious diseases.

Market Drivers

The key driver for The High Performance Doors Market is the rapid growth of the construction sector. There is rising demand for modern commercial buildings, hospitals, airports and other public infrastructure which requires installation of high performance doors for factors such as security, fire protection and energy efficiency. The stringent building codes and regulations regarding safety, thermal insulation and weather resistance of building components are also driving the demand for these doors across new construction and retrofitting projects globally.

PEST Analysis
Political: Governments across various countries have implemented regulations regarding safety standards of doors used in high-risk areas like hospitals, airports etc. This has propelled the demand for high performance doors that comply with such regulations.

Economic: Rising construction activities especially of commercial spaces coupled with growing industrialization and urbanization are driving the installation of high performance doors for enhanced security, safety, and optimized workflow.

Social: Increasing awareness about benefits of high performance doors such as energy efficiency and safety is promoting their adoption in residential and non-residential buildings.

Technological: Advancements in material science and integration of smart technologies in doors is allowing manufacturers to develop innovative product varieties with improved functionality for handling harsh environments and automated operations.

Geographical Regions with High Market Concentration
The high performance doors market is highly concentrated in North America and Europe in terms of value. Both regions collectively accounted for over 60% of the global market value in 2024 owing to strong presence of key manufacturers as well as robust construction and industrial activities driving replacement demand. The growth is expected to remain highest in the US and Germany through 2030 led by stringent regulations and resurgence in non-residential construction post pandemic.

Fastest Growing Regional Market
The Asia Pacific market is poised to register fastest growth during the forecast period with a projected CAGR of around 9%. Factors such as rapid industrialization and ongoing infrastructure development projects in China, India and other Southeast Asian countries are fueling installations of technologically advanced doors in this region. Government initiatives to boost smart city developments and modernization of public infrastructure will further accelerate the APAC high performance doors market in the coming years.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it