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The Indian Façade & Fenestration Market to Reach Around US$180 Million by 2025
Manish Bansal, Window Magic
We see that the Indian uPVC doors and windows market was growing at an exceptional rate and was estimated to grow at a CAGR of more than 7% during the next 5 to 6 years.
Then came the COVID-19 pandemic, and due to the lockdown trade restrictions were imposed. These restraints disrupted the supply chain and affected the windows and doors industry in 2020 like any other industry.
Technological development has changed the traditional outlook on the use of wood and aluminium doors and windows and customers are choosing uPVC more. Constant innovation is helping us to discover and deliver better. The technology used in making uPVC makes it very cost-effective and easy to install, unlike others where installation is a hassle.
The doors and windows made of uPVC are lighter but durable. uPVC has exceptional thermal performance, as during winters they resist heat loss whereas in summers they oppose heat gain. This helped in making it popular in a country like India where we have a plethora of seasons. Apart from this, the quality used to make uPVC involves the use of reinforced steel which gives strength to it.
Spoilt by choice the customers are looking for more customized products and the manufacturers are pushed to the limits to introduce new designs and technology in uPVC doors and windows systems. There are different types of uPVC available in the market and customers can select the designs which fit into their requirements and budget.
The strict COVID-19 rules imposed by the government affected the construction and housing industry and building projects got stalled for a very long time. These restrictions due to the lockdown reduced the purchase of uPVC doors and windows.
Though in comparison to other manufacturing industries, the uPVC industry has been optimistic post-lockdown. The doors and windows industry didn’t face an immediate impact as there was a backlog of orders which was needed to be cleared.
We do see that as people started spending more time at home, an increased number of customers started spending on the renovation and construction of more comfortable living spaces. This trend may further drive the Indian door and windows market towards fast growth.
In the coming year, we do see that the trend of spending more time at home will stay and customers will also look for more energy-efficient and impact-resistant housing infrastructure. This boom in demand will lead to innovation in designs and product materials in the doors and windows system.
Supply-chain logistics have become a challenge after the COVID-19 restrictions in terms of cost and time. So more indigenous manufacturers are encashing on the opportunity. The inferior quality Chinese products are no more creating havoc in the market, and customers are getting better quality products from more reliable manufacturers. Also, many international brands are venturing into the Indian market as currently, India is the world’s sixth-largest economy by nominal GDP and the third-largest by purchasing power parity (PPP). All this is going to make international quality products available to the Indian customer at affordable prices, also since these brands are setting up local manufacturing units to keep the pricing competitive it will create employment opportunities as well.
Adding to this the Indian government’s initiative to provide affordable housing for all by 2022 and the development of smart cities across India will fuel the door and windows system. Currently, we have a shortage of 18 million homes; therefore, a massive level of residential home construction is required to meet this demand of the housing sector. The residential sector thereby presents a huge potential for the expansion and adoption of UPVC doors and windows. And it will create a huge demand in the uPVC segment once the work starts in full flow.
Since uPVC is recyclable, offers UV protection, is saltwater resistant, and also provides insulation from rain – it is the best choice for the housing sector. The residential sector can give the uPVC doors and windows the required push to cut losses it faced during the last couple of years.
Stirring ahead amidst the fear of any new wave of COVID-19, the uPVC doors and windows industry is finding a way to move ahead, as already the stalled housing construction activities are restarted and the demand for uPVC doors and windows is on the increase.
The return of the working-class population to urban cities post covid and the increase in disposable income will contribute to the further growth of this industry soon.
The future of the global door and window market looks promising with an expected growth of 8-10% by 2025. The main influence for the growth will be new constructions, renovations, and rising consumer demands for impact-resistant doors and windows, energy-saving products, and green products. The growth in the Indian market by the end of 2025 will reach around US$180 million. Market expansion is expected to be consistent in the long term due to the shortage of household units in the country.
The integration of technology with elegance will create opportunities for new manufacturers to enter the market hence, we will witness a massive expansion in this sector in the coming years.
Manish Bansal, Window Magic
Director & CEO
Having acquired a degree from the University of Kent, Canterbury, United Kingdom, Mr. Manish Bansal is the current CEO & Director of Window Magic, a leading uPVC brand in India, today. Manish is a successful business leader prospering in the building and construction equipment industry. He played a significant role in transforming Window Magic into a profitable venture. His clear vision, commitment to quality standards, market & consumer foresightedness added new insights to Window magic as a company. Manish carries a distinct expertise in global strategic management including development, expansion, and turnaround initiatives. His belief and understanding of future market trends have helped in popularizing uPVC & aluminium windows & doors system in India. Manish has successfully established a reputation of being a dynamic, visionary, and strategic leader of the industry.