Door Handles Market to Grow with a CAGR of 4.32% Globally through 2028
Rising demand for new construction and renovation and
the growing demand for smart door handles are the factors driving the global
door handles market in the forecast period 2024-2028.
According to TechSci Research report, “Global Door
Handles Market - Industry Size, Share, Trends, Competition Forecast &
Opportunities, 2028”, the Global Door Handles Market stood at USD 7.65
billion in 2022 and is anticipated to grow with a CAGR of 4.32% in the forecast
period, 2024-2028. Global door handles serve as essential components for
opening and closing doors, with a pivotal role in both functionality and
aesthetics. They encompass a wide range of designs, materials, and technologies
catering to diverse preferences and needs. In recent years, the door handle
industry has witnessed advancements like smart and touchless handles, offering
convenience and security. Design trends lean towards minimalist aesthetics and
customization options, allowing consumers to personalize their spaces.
Sustainability is gaining importance, with eco-friendly materials and processes
being adopted. As urbanization and construction continue to grow, residential
door handles represent a rapidly expanding market, with Asia Pacific emerging
as a dominant player in the global industry. One of the key macroeconomic
drivers is urbanization. As populations continue to migrate from rural areas to
urban centers, the construction of residential and commercial buildings surges.
This results in a significant demand for door handles to outfit doors in these
new constructions, as well as in the renovation of existing structures. Door
handles become not just functional necessities but also design elements that architects,
and interior designers carefully consider matching the overall aesthetic of a space.
Additionally, renovation and remodeling projects represent a substantial
portion of the market. Homeowners and businesses frequently opt to upgrade
their properties, often involving the replacement of outdated or worn-out door
handles with modern, stylish alternatives. This trend contributes to the demand
for a wide range of door handle designs, materials, and finishes, aligning with
the ever-evolving preferences of consumers.
Browse over XX market data Figures spread
through XXX Pages and an in-depth TOC on "Global Door Handles Market”.
Security concerns are another pivotal driver of the
door handle market. Door handles are essential components of access control
systems, which are integral to safeguarding residential and commercial
properties. The increasing awareness of security threats has led to a growing
demand for advanced door handles with enhanced security features, such as
anti-pick, anti-bump, and anti-drill technologies. Moreover, smart door handles
with biometric authentication, keyless entry, and remote monitoring capabilities
are gaining popularity, particularly in applications where robust security is
paramount.Technological advancements represent both opportunities and
challenges in the door handle industry. On one hand, these advancements have
led to innovations such as smart door handles, which offer remote control and
monitoring capabilities. Users can lock and unlock doors, receive access logs,
and even grant temporary access to guests through smartphones or other smart
devices. On the other hand, technological innovation has intensified
competition in the industry. New entrants are continually introducing innovative
products, pushing established manufacturers to invest in research and
development to stay competitive. The global
door handles market is segmented into type, end user, sales channel regional
distribution, and company. Based on sales channel, the market is segmented into
hypermarkets/supermarkets, online, specialty stores, others (direct sales,
etc.). The online sales channel is experiencing remarkable growth in the global
door handle market. This trend is primarily driven by the increasing popularity
of e-commerce platforms and the convenience they offer to consumers. Online
retailers provide a vast selection of door handles, catering to various styles
and preferences. Moreover, online shopping allows customers to compare prices,
read reviews, and make informed decisions, further fueling its growth. The
COVID-19 pandemic has accelerated the shift towards online purchases, as more
people prefer contactless shopping. As a result, the online segment is rapidly
emerging as the fastest-growing distribution channel for door handles globally.
Major companies operating in Global Door Handles Market
are:
- Assa Abloy AB
- Allegion Plc
- Aarkay Vox
- The Häfele Group
- Hoppe Holding AG
- Kuriki Manufacture
Co.
- Ace Hardware Corp.
- Emtek Products Inc.
- West INX Ltd.
- Sugatsune America,
Inc.
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“The global door handle market is experiencing dynamic
changes driven by evolving consumer preferences, technological advancements,
and environmental considerations. Key trends include the rapid adoption of
smart and touchless door handles for convenience and hygiene. Aesthetic-focused
consumers are gravitating towards minimalist designs and customization options.
Sustainability is a growing concern, leading to the use of eco-friendly
materials. Among the segments, residential door handles are the fastest-growing
due to increased property investments. Additionally, Asia Pacific is dominating
the global market, capitalizing on its booming construction industry. As doors
serve as functional and decorative elements, door handles continue to play an
essential role in enhancing both form and function,” said Mr. Karan Chechi,
Research Director with TechSci Research, a research-based management consulting
firm.
“Door
Handles Market – Global Industry Size, Share, Trends, Opportunity, and
Forecast, Segmented By Type (Lever Handle, Door Knob, Sliding Door Handle, Pull
Handle, Others), By End User (Residential, Commercial, Industrial, Others), By
Sales Channel (Hypermarkets/Supermarkets, Online, Specialty Stores, Others
(Direct Sales, etc.)), By Region, Competition”, has evaluated the
future growth potential of global door handles market and provides statistics
& information on market size, structure and future market growth. The
report intends to provide cutting-edge market intelligence and help decision
makers take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in the global door handles market.
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