Automatic Door Market to Reach $41.74 Bn, Globally, by 2026 at 7.8% CAGR, Says Allied Market Research - PRNewswire

PORTLAND, Oregon, Jan. 17, 2020 /PRNewswire/ -- Allied Market Research published a report, titled, "Automatic Door Market by Type (Sliding, Swinging, Folding, and Others) and End User (Commercial, Industrial, and Residential): Global Opportunity Analysis and Industry Forecast, 2019–2026." According to the report, the global automatic door industry was estimated at $22.40 billion in 2018 and is expected to hit $41.74 billion by 2026, growing at a CAGR of 7.8% from 2019 to 2026.

Drivers, restraints and opportunities-

Rapid urbanization & industrialization, increase in residential & non-residential construction, and rise in spending on home remodeling drive the growth of the global automatic door market. On the other hand, high initial costs and less demand for automation in small and emerging economies impede the growth to some extent. Nevertheless, surge in need for safety and security is expected to create a plethora of opportunities in the industry.

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The sliding segment to dominate by 2026-

Based on type, the sliding segment contributed to more than two-fifths of the global automatic door market share in 2018, and is projected to rule the roost during the study period. The same segment is also expected to register the fastest growth of 8.4% by 2026. Rise in new construction and home improvement activities are expected to provide lucrative opportunities for growth of the segment.

The commercial segment to lead the trail throughout the forecast period-

Based on end user, the commercial segment held the largest share in 2018, generating nearly half of the global automatic door market. The installation of automatic doors with swinging & sliding mechanism during construction of buildings has helped builders enhance the overall appearance of the building, thereby fueling the growth of the segment. Simultaneously, the residential segment would cite the fastest CAGR of 8.7% during 2019–2026. Rise in demand for residential buildings and increase in consumer expenditures on home improvement are expected to drive the growth of the segment.

Asia-Pacific, followed by Europe and North America, to remain lucrative in terms of revenue-

Based on region, Asia-Pacific, followed by Europe and North America, accounted for nearly half of the global automatic door market revenue in 2018, and is expected to retain its dominance till 2026. The same region would also showcase the fastest CAGR of 9.1% throughout the estimated period. Strong economic growth, rapid urbanization, and increase in population contribute to the growth of the market in the region.

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Leading players in the industry-

Deutschtec GmbH
GEZE GmbH
Royal Boon Edam International B.V
MANUSA GEST, S.L.
Stanley Black & Decker, Inc.
ASSA ABLOY Group
Nabtesco Corporation
Rite-Hite Holding Corporation
dormakaba Holding AG
Sanwa Holdings Corporation

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SOURCE Allied Market Research

2020-01-17 08:30:00Z
https://www.prnewswire.com/news-releases/automatic-door-market-to-reach-41-74-bn-globally-by-2026-at-7-8-cagr-says-allied-market-research-300988784.html