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Market Tracking: Internal Doors in Europe Top 5 - 2008 Edition
InterConnection Consulting Group, July 2008, Pages: 152
Internal Doors: 7.3 Billion Euro Market Facing the Construction Crisis
According to our latest study for the Internal Doors market in Europe, In 2007, the total internal doors market in Europe top 5 accounted for 49.9 million units, valued at 7.3 billions euros. This data makes the internal doors market one of the major markets related to the construction sector.
In the years to come however, due to the construction crisis and economic deceleration, the market is expected to decrease by -5.8% in terms of quantity for the total Europe top 5. Spain should be experiencing the biggest hit, with a major fall of -13.9%!
Indeed, since the past 10 years, the European construction sector has experienced an exponential increase, with a large number of houses being built and restored, and has been a noble contribution to the general economic health.
In parallel households were given “easy” credit and the opportunity to buy and possess their own estate, which caused a surge in housing prices, largely above the general price levels.
At the end of 2007 the real estate and construction sector felt the first symptoms of what could be the start of a crisis: slowdown in building permits, pre-sales, sales and mortgage crisis. In the first semester of 2008, some of the biggest companies in the construction sector started seeing red numbers and since the beginning of the year the crisis in Western Europe has become a hard fact and is one of the major influences of the general economic slowdown.
These bad figures in the construction industry are further provoking a chain reaction in related markets. As new construction stagnates, all construction materials and housing elements are hit. Companies in all type of industries, as in the internal doors industry, have thereby been looking for alternatives, either in terms of innovative products or market and/or in exporting internationally.
Besides the general construction environment, the market is further influenced by raw material costs, legal and regulatory considerations, technological innovations, and pricing patters, which continue to toughen market conditions.
Per country, the biggest market in terms of quantity and value remains the UK. Germany on the other hand is third when it comes to units sold, but second in terms of value which reflects the Germans preference for doors with greater price and quality. By 2011, the landscape of the internal doors market should evolve: the UK should maintain its position, however with a slight softening in terms of quantities; With the big crisis on in the Spanish market, Germany should take over the second position in terms of quantity, gaining the UK with almost 24% market share; Spain will be the most hit: in terms of quantity sold, the market should go down by 19.6% market share and as far as 16.5% in terms of value!
In Europe’s top 5 the flush door is most widely used, with 48.6% market share in terms of quantity, followed by moulded with 45.7% and solid timber with 5.7% share. However, even though historically wood has been favored for its easy workability, high strength, aestheticism, and good thermal insulation there is now a concern with deforestation. Thus, metal doors and other materials are gaining share by enhancements in product design, strong demand from commercial users, and specialty applications. However, with increasing raw material prices, the future of these types of doors is still to be proven.
With a decreasing construction sector, renovation is slowly gaining speed and should maintain the industry running; with the renovation sector gaining importance, the interior doors market should increase its focus on this segment, passing from a 52.5% market share in 2007 to a 53.7% share by 2011. And with doors being replaced for functional reasons (difficulty with opening and closing, rotting, and warping), but also for decorative concerns, especially in residential structures, but also retail and other consumer oriented businesses, the manufacturer should now be focusing more then ever on customer demand and satisfaction.
Market Tracking: Internal Doors in Europe Top 5 includes:
- Development of the total market and forecasts for each of the regions (UK, Germany, France, Italy, Spain), for the years 2004 -2011 in terms of quantity and value.
- Total market development by product group (Flush, Solid Timber, Moulded) in quantity and value, as well as by business segment (New Construction, Renovation), customer segment (Residential, Non-Residential) and Distribution Channel (Direct, Indirect) in terms of quantity.
- Market share of major companies for 2006 and 2007 in terms of quantity and value per product group and for 2006 in terms of quantity per business segment, customer segment and distribution channel.
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