Door Handles Market Size, Share, Industry Research Report, 2025 (Includes Business Impact of COVID-19)

                                          
Abstract, Snapshot, Market Analysis & Market Definition: Global Door Handles Market


The global Door Handles market size is projected to reach US$ 3.53 billion by 2026, from US$ 2.81 billion in 2020, at a CAGR of 3.9% during 2021-2026. The market growth is attributed to booming residential and commercial construction, driven by rapid urbanization and industrialization, along with increasing consumer spending on home remodeling and interior fittings.

The market has been gaining an increasing traction among the consumers on account of their frequent purchases to keep up with the latest trends in the market. Moreover, companies are manufacturing fashionable products with modified and improved designs, patterns, and materials that offer rich aesthetic appeal to the infrastructures.

Factors impacting the purchase decisions of consumers include product durability, extended guarantee, security level, smooth functioning, price, ease of installation, and appealing designs. As per the consumer purchase patterns, the median price for entrance door handles was about USD 129, wherein they purchase these products costing at least USD 200. With respect to knob door sets, approximately 30% of the consumers purchase these products costing about USD 65, whereas the median price amounts to USD 44. Therefore, these purchase trends indicate the fact that consumers are willing to pay more for door handles, which is expected to drive the door handle market in the next few years.

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 an increasing acceptance among the 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, crystal and satin look 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 an increasing traction across the hospitality industry, as they are offer a shiny and artistic look to the interior and exterior doors of the infrastructure. Growing tourism as well as increasing establishment of commercial buildings are expected to generate significant demand for these door handles, thereby augmenting the market growth. For instance, as per the information by Invest India, by 2022, International hotel chains have been focusing on establishing their outlets in India, which approximately contributes to 50.0% share in the Indian tourism and hospitality sector. This initiative is expected to contribute to the global market growth in the near future.

Market Segmentation, Outlook & Viewpoint: Global Door Handles Market

Type Market Segmentation & Outlook (Revenue, USD Million, 2014 - 2025)

  
Lever Handles
  
Door Knobs
  
Sliding Door Handles

Application Market Segmentation & Outlook (Revenue, USD Million, 2014 - 2025)

  
Residential
  
Commercial

Key Players, Recent Developments & Regional Insights: Global Door Handles Market

The residential sector accounted for the largest share of more than 50.0% in 2018. This is attributed to increasing demand for door handles by the new construction and home remodeling projects.For instance, in Canada, Garibaldi at Squamish Ski Resort is an upcoming residential project, with a project value of 3.5 billion Canadian dollar. Oxford Place, M City Mixed-Use Development -Phase 2+, Rockcliffe Lands Redevelopment, and The Well are some of the few residential projects, each with a project value of more than 1 billion Canadian dollar.

Growth of the tourism industry is driving the construction of commercial buildings such as restaurants and hotels. For instance, Brazil has established 54 new hotels, providing 10,591 new rooms in 2018. International sporting competitions such as the 2020 Summer Olympics, which is scheduled to take place in Tokyo in 2020, are fueling the capacity of hotels and restaurants in Japan. Hotels such as Park Hyatt, Hyatt Regency, and InterContinental are expected to open shortly. Increasing number of construction projects is expected to augment the product demand.

Regional Insights

Asia Pacific accounted for a share of 31.4% in 2018 and is expected to witness significant growth over the forecast period. This growth is attributed to rising establishment of residential and commercial infrastructures and booming tourism industry. Operating company Hotel Management Japan is planning to drive investment plans focusing on establishing three new hotels in Andhra Pradesh, which is expected to be one of the prime tourist locations. The states tourism department is also aiming to increase guestrooms by 2025. These upcoming projects are expected to drive the demand for door handles in the next few years.

Door Handles Market Share Insights

Some of the key players operating in the global market are ASSA ABLOY Group, Hafele, Allegion plc., Sobinco, LATHAMS SECURITY DOORSETS Ltd., Kuriki Manufacture Co., WEST inx, Ace Hardware, and India International House Ltd.Companies are actively involved in product upgradation to sustain the market competition as well as cater to the consumers changing preferences for elegant designs. For instance, Yanko Design developed Zento, an illuminating door handle equipped with an independent wireless power system, which is helpful in events of firesmoke and electricity blackout.

Key Insights Covered: Global Door Handles Market

1. North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue and growth rate) of Door Handles industry.
2. Global major manufacturers operating situation (sales, revenue, growth rate and gross margin) of Door Handles industry.
3. Global major countries (United States, Canada, Germany, France, UK, Italy, Russia, Spain, China, Japan, Korea, India, Australia, New Zealand, Southeast Asia, Middle East, Africa, Mexico, Brazil, C. America, Chile, Peru, Colombia) market size (sales, revenue and growth rate) of Door Handles industry.
4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Door Handles industry.
5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of Door Handles industry.

Research Methodology: Global Door Handles Market

  
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.

  
Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
  
Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among other