World Demand for Windows and Doors to Reach $192 Billion in 2015October 14th, 2011 | Category: Industry News
Global demand for windows and doors is forecast to rise 6.8 percent per year through 2015 to $192 billion, significantly exceeding the pace of growth registered between 2005 and 2010, according to World Windows & Doors, a new study from The Freedonia Group Inc., a Cleveland-based industry research firm.
According to the report, gains will be exaggerated by an extremely weak 2010 base in the developed world, particularly in the United States. It further predicts that demand for doors and windows in the residential building construction market will outpace demand in the nonresidential building construction market, as in most developed countries the residential market was far more adversely impacted by the recession in 2009 and 2010.
Through 2015, demand for energy-efficient doors and windows will rise faster than the overall market because of increasing consumer awareness and government support in the form of tax credits. Sales of blast-resistant doors are expected also to see above-average gains, especially in the nonresidential market in developed countries due to persisting security concerns.
China, the world’s largest national window and door market, is predicted to expand its share of global demand from 27 percent in 2010 to 30 percent in 2015. Continuing rapid economic growth and industrialization, as well as an increase in the average size of a housing unit in the country, will bolster gains. Although demand for doors and windows in China is forecasted to expand at a robust 9.2 percent per year, this will represent a major slowdown in comparison to the performance of the past decade.
The report forecasts that the U.S. market for windows and doors will post a strong recovery and expand 7.7 percent per year through 2015, after declining by around 25 percent between 2008 and 2010. Demand in Japan and Western Europe also will post solid recoveries after declines in 2009 and 2010, Freedonia says, adding that neither experienced problems as significant as the U.S. did in those years.