International market for wooden doors for homes
Dublin, April 13, 2023 (GLOBE NEWSWIRE) -- "Wooden Interior Doors Market Forecast to 2028 - Covid-19 Impact and Global Analysis by Type, Process and End User" has been added to ResearchAndMarkets.com's offering.
The market size of interior wooden doors will grow from USD 15,459.82 million in 2022 to USD 21,477.53 million in 2028. It is projected to grow at a CAGR of 5.6% from 2022 to 2028.
The growth of the construction industry in North America and the improvement in the standard of living of consumers are important factors contributing to the increasing market share of interior wooden doors. The number of single-family and detached homes being built in North America has risen to its highest level since 2010.
According to new housing statistics from the US Census Bureau and US Department of Housing and Urban Development, the annual rate of housing privately owned starting in February 2022 was 1,309,000, up 5.9% from January's estimate of 1,236,000. Additionally, the completion rate of single-family homes in February 2022 was 1,034,000, up 12.1 percent from 922,000 in January.
According to Jonas Construction Software Inc., Canada's construction sector is valued at more than $430 billion and is expected to grow by 8.5 percent by 2024.
In addition, home improvement and home improvement in North American countries is driving the growth of the interior wood doors market. According to Harvard University's Center for Housing Studies, the home improvement industry is growing 16 percent annually, from $350 billion in the second quarter of 2021 to $406 billion in the second quarter of 2022.
In the year to July 2022, a third of Americans were involved in home repairs, including 22% who had recently completed a remodeling project, and 10% who were planning to do so. Therefore, the potential for growth in the construction industry and the increase in home repair and remodeling in North America are major factors contributing to the growth of the interior wood doors market.
Main feature:
Communication behavior | Details |
Number of pages | 134 |
Estimated time | 2022 - 2028 |
Estimated market value in 2022 | 15459.82 crores |
Estimated market value in 2028 | 21477.53 crores |
Compound annual growth rate | 5.6% |
Closed area | international |
Market volatility
Driver
moderation
chance
future trend
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