Hollow Metal Doors Market Expected to Reach $26.1 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Hollow Metal Doors Market," The hollow metal doors market size was valued at $15.7 billion in 2021, and is estimated to reach $26.1 billion by 2031, growing at a CAGR of 5.2% from 2022 to 2031.

The global hollow metal doors market size was valued at $15.7 billion in 2021, and is projected to reach $26.1 billion by 2031, registering a CAGR of 5.2% from 2022 to 2031.

Commonly observed types of hollow metal doors are flush hollow metal doors, hollow metal doors with windows, paneled hollow metal doors and others. Among these, the flush hollow metal doors segment accounted for the largest market size by value in 2021, owing to increase in demand from commercial and institutional buildings. The flush hollow metal door, or steel slab door, is the most common commercial steel door and can be used for virtually any application, including industrial and commercial buildings. Flush doors have no cut-outs for anything other than locksets and hinges but can be prepped for other hardware, glass kits, and louvers.

The market is analyzed with respect to different end user including, commercial and institutional buildings, industrial spaces and others. The market is mainly driven by global economic growth and development in residential, commercial, and industrial sectors. However, fluctuations in raw material prices limit the hollow metal doors market growth.

In 2021, Asia-Pacific dominated the global hollow metal doors market, in terms of revenue, accounting for majority of the global hollow metal doors industry, followed by Europe and North America. Moreover, the market in Asia-Pacific is growing with a high CAGR, owing to urbanization and industrial development in countries such as China, India, and Japan. Moreover, favorable government policies to promote industries and institutional buildings across the globe drives the demand for the hollow metal doors market. For instance, the Indian construction industry is expected to reach $965.5 million by 2040. Moreover, rise in adoption of hollow metal doors in the industrial sector is attributed to features such as fire resistant, greater protection and more durable.

Furthermore, on the basis of end user, the commercial & institutional building segment accounted highest hollow metal doors market share in 2021, owing to rise in commercial projects such as malls, hotels, and resorts as well as growth in initiatives for smart cities. For instance, in February 2020, the government of the UAE passed a tender of $2.7 billion for infrastructure projects under its public-private partnership (PPP) model. These infrastructure projects include industrial and commercial structures. Similarly, in October 2020, the government of South Korea and the Inter-American Development Bank (IDB) collaborated to invest around $1.3 billion in Latin American smart city projects.

However, during the COVID-19 pandemic, various manufacturers in the hollow metal doors market had to stop their business in countries such as China, the U.S., and India. This break directly impacted the sales of hollow metal doors companies. In addition, lack of manpower and raw materials constricted the supply of equipment of hollow metal doors systems, which negatively influenced the growth of the market. However, reopening of production facilities and introduction of vaccines for coronavirus disease are anticipated to lead to re-opening of hollow metal doors companies.

Key Findings of the Study

• The report provides an extensive analysis of the current and emerging global hollow metal doors market trends and dynamics. 
• Depending on type, the flush hollow metal doors segment dominated the market, in terms of revenue in 2021 and paneled hollow metal doors segment is projected to grow at a significant CAGR during the hollow metal doors market forecast period.
• By end user, the commercial and institutional building segment has registered the highest revenue in 2021.
• By application, the new construction segment has registered the highest revenue in 2021.
• Asia-Pacific is projected to register the highest growth rate in the coming years.
• The key players within the global hollow metal doors market are profiled in this report, and their strategies are analyzed thoroughly, which help understand competitive outlook of the hollow metal doors industry.
• The report provides an extensive analysis of the current trends and emerging opportunities of the market.
• In-depth global hollow metal doors market analysis is conducted by constructing estimations for the key segments between 2022 and 2031.