Dublin, April 13, 2023 (GLOBE NEWSWIRE) -- The "Wooden Interior Door Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type, Mechanism, and End User" report has been added to ResearchAndMarkets.com's offering.
The wooden interior door market size is expected to grow from US$ 15,459.82 million in 2022 to US$ 21,477.53 million by 2028; it is estimated to grow at a CAGR of 5.6% from 2022 to 2028.
Growing construction industry and improving standards of living of consumers in North America are the crucial factors assisting the growth of the wooden interior door market share. The number of single-family homes and privately owned housing under construction increased to the highest level in North America since 2010.
According to the US Census Bureau and the US Department of Housing and Urban Development's new residential construction statistics, privately owned housing completions were at an annual rate of 1,309,000 in February 2022, an increase of 5.9% from the January estimate of 1,236,000. Furthermore, single-family housing completions in February 2022 were at a rate of 1,034,000, 12.1% higher than that of January at 922,000.
According to Jonas Construction Software Inc, Canada's construction sector is expected to be worth more than US$ 430 billion and is expected to grow at 8.5% by 2024.
Furthermore, a surge in home improvement and remodeling across North American countries is propelling the wooden interior door market growth. According to the Joint Center for Housing Studies of Harvard University, home improvement activities increased by 16% yearly, from US$ 350 billion during the Q2 of 2021 to US$ 406 billion in the Q2 of 2022.
In July 2022, a third of Americans were engaged in home improvement, of which 22% had recently completed a remodeling project, while 10% were planning to engage. Thus, growth prospects in the construction industry and surge in home improvement and remodeling across North America are the key factors contributing to the wooden interior door market growth.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 134 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value in 2022 | 15459.82 million |
| Forecasted Market Value by 2028 | 21477.53 million |
| Compound Annual Growth Rate | 5.6% |
| Regions Covered | Global |
Market Dynamics
Drivers
- Massive Increase in Construction Projects
- Use of CNC Machines for Woodworking
Restraints
- Availability of Alternative and Low Cost Material
Opportunities
- Adoption of MDF for Manufacturing Interior Doors
Future Trends
- Awareness of Sustainable Forest Trees
Companies Mentioned
- Concept SGA Inc
- Simpson Door Co
- Jeld-Wen Holding Inc
- Marvin Ltd.
- Masonite International Corp
- Woodgrain Inc
- Puertas Salmar SA
- Puertas Sanrafael SA
- Artisan Hardware
- Rustica
For more information about this report visit https://www.researchandmarkets.com/r/w5ajkk
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