Report : Asia Pacific Revolving Doors Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product Type (Three Wings and Four Wings), Operation Type (Manual and Automatic), and Application (Commercial and Industrial)
The Three Wings Segment to Dominate Asia Pacific Revolving Doors Market during 2021-2028
According to a new market research study on “Asia Pacific Revolving Doors Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast – by Product Type, Operation Type, Application and Country,” is expected to reach US$ 296.84 million by 2028 from US$ 211.29 million in 2021. The market is estimated to grow at a CAGR of 5.0% from 2021 to 2028. The report provides trends prevailing in the Asia Pacific revolving doors market along with the drivers and restraints pertaining to the market growth. Incrementing use of doors automation in commercial and industrial spaces and rising Infrastructure Spending along with rapid urbanization are major factors driving the growth of the Asia Pacific revolving doors market. However, requirement of huge investment may hinder the growth of Asia Pacific revolving doors market.
Asia Pacific is characterized by a large number of developing countries, with positive economic outlook, high industrial presence, huge population, and rising disposable income. All these factors make it a major contributor to the revolving doors market. However, prolonged lockdown periods due to the COVID-19 pandemic resulted in a huge decline in the growth of the construction industry in the region in 2020. Different companies in the region discontinued their production activities in the initial phase of COVID-19 to avoid the further spread of the disease. This halt in production led to reduced supplies in various Asian countries, including India and China. Moreover, maintaining the quality of the projects is one of the most important challenges faced by construction players in the region as each country may pose different regulatory framework. However, with the relaxation in lockdown restrictions and the ongoing vaccination process are supporting the steady raw material shipment and industrial activities, which boosted the growth of the revolving doors market in Asia Pacific in 2021.
The market for Asia Pacific revolving doors is segmented into product type, operation type, application and country. Based on product type, the market is segmented into three wings and four wings. In 2020, the three wings segment held the largest share in Asia Pacific revolving doors market. Based on operation type, the Asia Pacific revolving doors market is divided into manual and automatic. The automatic segment is expected to be the fastest growing segment over the forecast period. Based on application, the market is segmented into commercial and industrial. In 2020, the commercial segment held the largest share in Asia Pacific revolving doors market. Based on country, the Asia Pacific revolving doors market is segmented into Australia, China, India, Japan, South Korea and rest of Asia Pacific. In 2020, China held the largest share in Asia Pacific revolving doors market. Furthermore, in this present scenario of COVID 19 pandemic, the Asia Pacific revolving doors market has been facing difficulties and several countries have suffered heavily. The manufacturing sectors in the Asia Pacific countries have been experiencing low production and a weak supply chain. Thereby, impacting the market for revolving doors.
Assa Abloy AB; GEZE GmbH; Tormax USA Inc.; Royal Boon Edam International; Manusa; Kone Ojy; and Dormakaba Holding AG are some of the leading companies in the Asia Pacific revolving doors market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market.
Asia Pacific Revolving Doors Market, By Country, 2020 and 2028 (%)
Contact Us
Contact Person: Sameer Joshi
Phone: +1-646-491-9876
Email Id: sales@businessmarketinsights.com