Australia Doors & Windows Market is anticipated to witness a
steady CAGR in the forecast period, 2024-2028. Remodelling activities are
increasing as consumer disposable income and thermal comfort demand rise.
Efforts to reduce emissions from buildings stimulate the use of
energy-efficient building materials, as floor space area and energy consumption
are expected to rise over the next 10 years. By 2027, Australia's Doors & Windows
Market will account for more than 40% of Asia Pacific revenue. In Australia,
the need to minimize harmful greenhouse gas emissions, as well as growing
energy prices, has increased the importance of enhancing energy efficiency in
homes as well as companies. During the winter, about 40% of the heat is lost,
which may be reduced by using uPVC to replace older windows, reducing
greenhouse gas emissions by more than one tonne each year.
According to estimates issued by the Australian Bureau of
Statistics (ABS), Australia's GDP increased by 0.5% in seasonally adjusted
chain volume terms in December quarter 2022 and by 2.7% overall. As economic growth of Australia gaining traction the market for
doors and windows is expected to grow further from 2018-2028. This is due to
the fact that huge number of doors and windows are required in residential and
commercial sector.
Australia was the leading importer of aluminium doors,
accounting for around 81% of total imports in 2021. The market players are more focused towards
nation’s upcoming construction projects and investment. Hence, Australia doors
& windows market is expected to register a high CAGR in the forecast
period.
Increasing construction projects & industrialization in the country
are the factors fuelling the market growth
The rise in construction activities across the country is likely
to boost the expansion of the Australia Doors & Windows Market. Nowadays,
doors and windows are being employed in residential and commercial
constructions. High industrialization and urbanization lead to rapid economic
development, which enhances demand in the nation's market. Subsequently, rapid
urbanization results in greater government and consumer spending on residential
and infrastructure construction, which significantly increases market growth.
For instance, federal, state, and territory construction ministers have decided
on a series of far-reaching national changes that will ensure that new houses
in Australia are more pleasant, liveable, accessible, and energy efficient.
Now a days, many new construction projects in the nation have
started due to which demand for doors & windows is gaining traction. For
instance, latest ongoing project entails the development of two mixed-use
towers on a 7,000m2 site, including a 58-story mixed-use tower and a 21-story
commercial tower on Lot 5 and 6 at Elizabeth Quay in Perth, Western Australia. Construction
began in Q3 2021 and is projected to be finished in Q4 2025. The project
intends to create mixed-use facilities in the region, including residential,
commercial, retail, and office space.
Government Initiatives Driving the Market Growth
Developing trends that have a direct influence on the dynamics
of the doors and windows sector include the increased usage of impact-resistant
doors and windows, as well as energy-efficient doors & windows. Additionally,
on October 1, 2023, the new contemporary housing provisions for energy
efficiency, condensation, and livable (access) housing will become necessary. Due to
this the market is expected to grow with a high CAGR in the forecast period.
Growing Housing Affordability and Expanding Residential Sector
in Australia
The residential housing market has changed dramatically during
the last several decades. The dream of house ownership has become increasingly
difficult for many individuals in the country, particularly those who desire to
live in metropolitan areas. Nowadays, housing affordability impacts practically
every Australian and has been addressed in numerous governmental policy
debates.
Economic restrictions and changing lifestyles have influenced
household purchasing and renting behaviors in Australia, resulting in an
increase in the residential sector. According to the most recent census
information, housing loan owners accounted for the majority of household
occupancy in Australia. Except for moments of economic uncertainty, the
country's yearly rise in residential housing prices has remained strong. The
average value of homes in major Australian cities has continued to rise. Owing
to which market is expected to grow with a high CAGR in the forecast period.
Adoption of technological advancement (Smart Doors &
Windows)
Technical innovation by market players, such as the production
of eco-friendly doors and windows and smart doors, may further boost the
industry's expansion. Smart glass, which can automatically shade or lighten
itself, has a lot of potential in the market. Smart windows with sensors that
adapt to changes in temperature, solar angle, have enormous potential in the
future. Furthermore, these glasses can aid in security breaches and
architectural elements.
There are an increasing number of ‘smart' window systems
on the market, ranging from simple security sensors to fully integrated
systems. They range from simple sensors that can be placed to doors and windows
and will warn people if they are opened to more complex platforms that will
trigger an alarm if user leaves the house without shutting windows or
locking doors. At the top of the tree are automated locking systems, which
allow users to remotely lock and open doors and windows using proximity sensor
technology, similar to keyless entry on a car using a key and even face
recognition technology. Owing to above mentioned technological advancement, the
market is anticipated to grow with a high CAGR in the forecast period.
Recent Developments
- Australian Window Solutions will be launching new Passivhaus (Passive House) suite in 2023.
- KJM Group Ltd provides a comprehensive variety of high security doors & windows in PVC-U, wood, and aluminum, including casement, tilt and turn, and vertical sliding doors & windows. This includes energy-saving triple-glazed windows with U-values as low as 0.8W/m 2. K.
- The Western Sydney Infrastructure Plan (WSIP) is a USD4.4 billion 10-year investment by the Australian and New South Wales governments, with the Australian government providing more than USD3.5 billion. Owing to this government plan demand for doors & windows is growing in Australia.
- The Australian and New South Wales governments will invest USD4.4 billion over 10 years in the Western Sydney Infrastructure Plan (WSIP), with the Australian government providing approximately USD3.5 billion of the total. The WSIP will increase traffic flow in western Sydney, which will help the area's expanding population. This plan will alleviate strain on the present infrastructure, increase travel efficiency, and unleash the economic potential of the area.