Dublin, Jan. 30, 2024 (GLOBE NEWSWIRE) -- The "North America Wooden Interior Doors Market Forecast to 2028 - Regional Analysis By Type, Mechanism, and End User" report has been added to ResearchAndMarkets.com's offering.
The North America wooden interior doors market is expected to grow from US$ 3,471.17 million in 2022 to US$ 4,554.23 million by 2028. It is estimated to grow at a CAGR of 4.6% from 2022 to 2028.
Massive Increase in Construction Projects Fuels North America Wooden Interior Doors Market
With the growing urban population, the need for high-rise buildings has increased in urban areas. According to the Council on Tall Buildings and Urban Habitat (CTBUH), 1,480 skyscrapers with heights greater than 200 m have been built in the last 20 years in the US. The number also includes 40 new residential skyscrapers constructed during 2019-2022. The surge in construction work across residential, commercial, and several industries owing to growing urbanization is driving growth of interior doors. Government bodies are putting additional emphasis on strengthening the construction and infrastructural development, which is further enduring the demand for interior doors.
Moreover, investment to renovate old buildings and structures, and increasing inclination toward greener future are boosting the scope of green buildings, which is further nurturing the construction sector.
North America Wooden Interior Doors Market Overview
North America is segmented into the US, Canada, and Mexico. Growing construction industry and improving standards of living of consumers in the region are the crucial factors assisting the North America wooden interior doors market growth. 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 U.S. 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 states is propelling the North America wooden interior doors market growth in the region. For instance, 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 growth of the North America wooden interior doors market.
North America Wooden Interior Doors Market Revenue and Forecast to 2028 (US$ Million)
A selection of companies mentioned in this report includes
- Artisan Hardware
- Concept SGA Inc
- JELD-WEN Holding Inc
- Marvin Ltd
- Masonite International Corp
- Rustica
- Simpson Door Co
- Woodgrain Inc
For more information about this report visit https://www.researchandmarkets.com/r/g58rnp
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
