DOOR HANDLES MARKET ANALYSIS

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

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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.

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

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Recent Developments

• In January 2022, Emtek, an Indonesian technology, telecommunication and media conglomerate launched a dedicated product line for door hardware and accessories that offer endless customization options and ease of assembly. The new product launch includes cabinet hardware, lever, and door knob.
• In October 2020, ASSA ABLOY, a Swedish conglomerate offering products and services related to locks, doors, gates, and entrance automation acquired Olimpia Hardware, a leading glass hardware and accessories brand to expand its reach in Latin America and the Caribbean. With this acquisition, the company aims to cater to the growing demand for glass and aluminum products.

 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