Revolving Doors Market Revenue to Surpass US$ 1,121.42 Million by 2028 at 3.9% CAGR: Impact of COVID-19 Pandemic

The comprehensive industry research on Revolving Doors published by The Insight Partners research includes growth analysis and drivers analyzed in the report.

NEW YORK, UNITED STATES, October 27, 2022 /EINPresswire.com/ -- According to our latest market study on” “Revolving Doors Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product Type (Three Wings and Four Wings), Operation Type (Manual and Automatic), and Application (Commercial and Industrial)”

The revolving doors market is projected to reach US$ 1,121.42 million by 2028 from US$ 860.83 million in 2021; it is estimated to grow at a CAGR of 3.9% from 2021 to 2028.

Huge investments in the infrastructure sector specifically for retail spaces, commercial office buildings, manufacturing facilities, metro rail lines, and airport expansion and construction are benefitting the continually expanding construction sector. Thus, the increasing number of commercial construction projects, including shopping complexes and retail stores, is significantly fueling the demand for revolving doors. Further, the rise in urbanization results in the construction of numerous hospitals, offices, large retails, and theatres. According to the Civil Aviation Administration of China (CAAC), China aims to construct 216 new airports by 2035 to meet the rising demands for air travel. In 2020, the building construction spending in Asia crossed US$ 4.5 trillion, which was ~50% of the global expenditure on construction projects. Thus, the demand for revolving doors is increasing in countries such as China and India as the government and the private sector are making efforts to improve infrastructure of these countries. Their efforts revolve around improving smart cities, with a major focus in the use of nontoxic, recycled, and environment-friendly materials. Thus, the rising disposable income of people with changing lifestyles and elevating infrastructure spending is propelling the market growth.

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Companies Profiled in this report includes: ASSA ABLOY, CoMETA SpA, dormakaba Group, GEZE GmbH, Horton Automatics, KONE Oy, Manusa, Royal Boon Edam International B.V., Stanley Access Technologies LLC, and TORMAX

Impact of COVID-19 Pandemic on North America Revolving Doors Market Size

North America is a prominent regions in the global revolving doors market due to the existence of government policies boosting innovation and presence of a huge industrial base, especially in developed countries such as the US and Canada. For instance, in Canada, the construction industry is experiencing aignificant growth in a few major cities, such as Toronto and Vancouver, as developers are registering good profits on investments, mainly with the demand for high-density commercial and industrial projects. In 2020, the limited availability of workforce, shortage of materials and supplies, reduction in productivity rates, and suspension and cancellation of projects/contracts hindered the revolving doors market growth. According to a national survey conducted by the Associated General Contractors of America (AGCA), out of 1,077 respondents, 78% of the contractors experienced project delays. However, since the late Q3 of 2020, with the relaxation of lockdown rules, the construction sector started to operate with ease, thereby reporting a rise in demand for revolving doors.

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Market Insights – Revolving Doors Market

Application-Based Insights

Based on application, the revolving doors market is segmented as commercial and industrial. The commercial segment led the market in 2021. The commercial segments comprise airports, train stations, government facilities, commercial buildings, education institutions, data centers, financial institutions, malls, hotels, and others. Due to the growing emphasis on national security, governments across the world are investing substantially in advanced security solutions, including revolving doors with modernized security scanning capabilities. Defense and government facilities possess vital data and assets pertaining to national security. Thus, unauthorized access to such crucial facilities can result in an unforeseeable national threat. Meanwhile, train stations and airport authorities are also adopting revolving doors with modernized security scanning capabilities.

The revolving doors market is segmented on the basis of product type, operation type, application, and geography. Based on product type, the market is bifurcated into three wings and four wings. On the basis of operation type, the revolving doors market is segmented into manual and automatic. The market basec okn application is segmented into commercial and industrial. In terms of geography, the revolving doors market is segmented into North America, Europe, Asia Pacific, the Middle East and Africa, and South America. ASSA ABLOY, CoMETA SpA, dormakaba Group, GEZE GmbH, Horton Automatics, KONE Oy, Manusa, Royal Boon Edam International B.V., Stanley Access Technologies LLC, and TORMAX are among the key players profiled during the revolving doors market study.

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