A door handle is a type of handle that is normally affixed to a door to make it easier to open and close it. They are typically constructed of plastic, metal, and other materials. The door handles market will expand faster as the population's need for fashionable and trendy door handles grows.
Global door handles market was valued at US$ 9395.8 Million in 2021 in terms of revenue, exhibiting a CAGR of 3.92% during the forecast period (2022 to 2030).
Drivers
Attributing factors such as increasing residential and commercial properties or complexes are fueling growth of the door handles market. Increasing manufacturing of doors and windows promote the growth for the door handles because it is not only used as a mechanical tool to open and close the door but it also contributes towards the aesthetic appearance of the door. These factors are anticipated to propel the demand for door handles over the forecast period.
Fancy zinc door handles and others are expected to gain traction in the door handles market during the forecast period. Due to growing premium housing segment and use of antique metal door handles in luxurious home, bungalows, and row houses is expected to escalate the demand for door handles. Besides, increasing disposable income, high standard of living and luxurious life are some of the growth factors for the antique metal door handles.
Due to the COVID-19 pandemic, countries were forced to implement lockdown and social distancing restrictions, which prohibited the construction of new residential and commercial properties. Door handle manufacturing companies and distributors were compelled to halt their manufacturing and distributing units as a result of border closures, and travel and import-export restrictions. In addition, door handle manufacturing companies witnessed a dip in production due to the lack of workforce to continue the production process.
Figure 1. Global Door Handles Market Value Share (%), By Region, 2021
Market Restraints
The global door handles market is expected to be restricted by the manual revolving door mechanism throughout the forecast period. Moreover, high cost of door handles act as a restrain for the door handles market.
| Report Coverage | Details | ||
|---|---|---|---|
| Base Year: | 2021 | Market Size in 2021: | US$ 9395.8 Mn |
| Historical Data for: | 2017-2020 | Forecast Period: | 2022 |
| Forecast Period 2022 to 2030 CAGR: | 3.92% | Forecast Period: | 2022-2030 |
| Geographies covered: |
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| Segments covered: |
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| Companies covered: |
Seleco Hardware decoration Products Co., Galbusera G. & G., Daya, Kuriki Manufacture Co., Bangpai, Ltd, Assa Abloy Group, Hafele, Sobinco, Allegion plc, Hooply, Ltd., Enrico cassina, HEmtek products Inc., D- Line and WEST inx. |
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| Restraints & Challenges: |
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Market Trends
Shifting customer preferences from ornate fittings to contemporary patterns has been driving the manufacturers to introduce door handles with sleek and luxurious designs and materials. Knob-style door handles are gaining increasing acceptance among consumers due to their compact structure and availability of various appropriate designs for every infrastructure. Some of the prominent designs trending in the market are polished nickel, matte texture, brass, and bronze finishes, and crystal and satin looks available in various geometric shapes and patterns. Some of the companies offering such products are ASSA ABLOY and Carlisle Brass Ltd.
Brass metal door handles are gaining increasing traction across the hospitality industry, as they offer a shiny and artistic look. The growing tourism sector as well as the increasing establishment of commercial buildings are expected to generate significant demand for these door handles, thereby augmenting the industry growth. For instance, according to Invest India in 2021, international hotel chains have been focusing on establishing their outlets in India, which approximately contributes to a 50.0% share in the Indian tourism and hospitality sector. This initiative is expected to contribute to global industry growth in the near future.
Figure 2. Global Door Handles Market Value Share (%), By Material Type, 2021
Recent Developments
Competitive Section
Major players operating in the global door handles market include Seleco Hardware decoration Products Co., Galbusera G. & G., Daya, Kuriki Manufacture Co., Bangpai, Ltd, Assa Abloy Group, Hafele, Sobinco, Allegion plc, Hooply, Ltd., Enrico cassina, HEmtek products Inc., D- Line and WEST inx
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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