The door handles are attached mechanical tool not only used to close & open the door but also to enhance the artistic beauty of the door. Growing construction industry and government initiatives to promote affordable homes to lower income groups are propelling the growth of the door handles market.
Market Dynamics
The industry growth is attributed to the growing residential and commercial construction activities, driven by rapid urbanization and industrialization, along with increasing consumer spending on home remodeling and interior fittings. Among the material type, metal is gaining major traction in door handles market. As stainless steel is extensively used in the manual sliding glass door system. This system is mostly installed in modern buildings such as corporate buildings, private homes and speciality stores where showcasing is main purpose such as jewellery shops, boutique, car showrooms.
As per United Nations (UN) in 2021, the population of Asia Pacific is expected to reach 5 billion by 2050, which in turn is expected to fuel demand for supportive infrastructure development. Asia Pacific is expected to gain the major traction in global door handles market during forecast period 2019-2027 owing to the favorable government policies and development of commercial infrastructure projects. For instance, according to the Business Sweden (regulated by Government of Sweden) in 2020, Tokyo is aiming to be a competitive global city as large infrastructure development investment projects are ongoing in major suburbs of Tokyo. Moreover in 2020, Japanese government imposed the regulations of building standards law which allowed builders to develop taller and high capacity tower and building. This scenario of deregulation is expected to foster the commercial and residential construction, which in turn increases the demand for door handles.
Key features of the study:
Detailed Segmentation:
“*” marked represents similar segmentation in other categories in the respective section
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