A Look into Door Handles Industry……Deep Analysis…..



The global door handle market size is expected to reach USD 3.3 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 3.9% over the forecast period. 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.
The home care & decor industry has been witnessing inconsistent growth, since the Covid 19 outbreak. As a result of the ongoing pandemic crisis, there has been a drop in the overall performance of discretionary products such as decorative fixtures, bedding products, to name a few. The virus outbreak has, however, led to substantial growth in categories such as cleaning and hygiene products. Prominent growth in the e-commerce business is also one of the positive influences of the outbreak, wherein companies are focusing on expanding their distribution networks to online channels in order to cater to the surging consumer demand. Our team is diligently working towards accounting these factors in our report with the aim of providing you with the up-to-date, actionable market information and projections.
Moreover, companies are manufacturing fashionable products with modified and improved designs, patterns, and materials that offer rich aesthetic appeal to the infrastructures. The market growth is also attributed to booming residential and commercial construction, driven by rapid urbanization and industrialization, along with increasing consumer spending on home remodeling and interior fittings.
Shifting customer preferences from ornate fittings to contemporary patterns has been driving the manufacturers to introduce these products with sleek and luxurious designs and materials. Knob style 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.
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 demand for the global market.
To Request Sample Copy of this report, click the link:
https://www.grandviewresearch.com/industry-analysis/door-handles-market/request/rs3
Door knobs are expected to exhibit the fastest CAGR of 4.2% over the forecast period. This growth is attributed to increasing product modifications in terms of designs, styles, and look. These products are expected to have a vast application in the residential sector as it fits the style and appearance of any door and surrounding furniture. Companies are also adding contemporary designs to knobs with an aim to provide an elegant look to the doors.
Asia Pacific held a share of 31.4% in 2018 and is expected to witness the fastest growth over the forecast period. This growth is attributed to rising establishment of residential and commercial infrastructures and booming tourism industry. 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.
Further key findings from the study suggest:
·         Lever handles accounted for the largest share of more than 40.0% in 2018
·         The residential sector accounted for the largest share of more than 50.0% in 2018 due to demand for door handles by the new construction and home remodeling projects
·         Asia Pacific accounted for a share of 31.4% in 2018 owing to growing establishment of residential and commercial infrastructures and booming tourism industry
·         Some of the key players operating in the global door handles 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.
The global door handles market size was valued at USD 2.6 billion in 2018 and is expected to expand at a CAGR of 3.9% from 2019 to 2025. 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.
Browse Press Release of this report:
https://www.grandviewresearch.com/press-release/global-door-handle-market
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.
Grand View Research has segmented the global door handle market on the basis of type, application:
Door HandlesType Outlook (Revenue, USD Million, 2015 - 2025)
·         Lever Handles
·         Door Knobs
·         Sliding Door Handles
Door HandlesApplication Outlook (Revenue, USD Million, 2015 - 2025)
·         Residential
·         Commercial
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.
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.


Comments

Post a Comment

Popular posts from this blog

Foot Orthotic Insoles Market 2026: What Will Be Changes In Investment Ratio With Opportunity Analysis?? |Grand View Research, Inc.

Image
The global foot orthotic insoles market size is expected to reach USD 5.5 billion by 2026 , according to a new report by Grand View Research, Inc., exhibiting a 6.3% CAGR during the forecast period. Growing incidence of diabetes and plantar fasciitis are expected to drive the market over the forecast period. Moreover, rapid urbanization and increasing disposable income are anticipated to propel growth in future. Technological advancements, spurred by ongoing investments in R&D, are expected to increase growth potential in the coming years. Moreover, rise in geriatric population, which is susceptible to orthopedic disorders, is impelling product demand globally. For instance, in 2017 as per the U.S. Census Bureau, the number of people aged 65 or older increased by 1.6 million from 2014 to 2015. In addition, increasing incidence of sports injuries and rising prevalence of osteosarcoma in the region has led to the need for various orthotics devices, which is expected to drive ...
Read more

A Look into Smokehouse Industry……Deep Analysis…..

Image
The global smokehouse market size is anticipated to reach USD 157.2 million by 2025 , according to a new report by Grand View Research, Inc. The market is anticipated to register a CAGR of 2.2% during the forecast period. Rising need for a healthy lifestyle has led consumers to prefer griller or barbequed food over fried food and other kinds of fast food. This trend is expected to have a positive impact on the market growth. The home care & decor industry has been witnessing inconsistent growth, since the Covid 19 outbreak. As a result of the ongoing pandemic crisis, there has been a drop in the overall performance of discretionary products such as decorative fixtures, bedding products, to name a few. The virus outbreak has, however, led to substantial growth in categories such as cleaning and hygiene products. Prominent growth in the e-commerce business is also one of the positive influences of the outbreak, wherein companies are focusing on expanding their distribution ...
Read more

A Look into Shapewear Industry……Deep Analysis…..

Image
The global shapewear market size is expected to reach USD 3.80 billion by 2025 registering a CAGR of 7.7%, according to a new report by Grand View Research, Inc. The introduction of various products according to the type of garments is expected to support the market growth in the years to come. Growing target population across the globe is also augmenting the market growth. Changing lifestyle incurs increased investment in fitness and related accessories, which has positively impacted the market growth. The clothing, footwear, & accessories industry is anticipated to witness checkered growth throughout 2020, as a result of the unprecedented supply chain disruptions caused by the COVID-19 outbreak worldwide. The expected decline in the global sales of clothing, footwear, & accessories is attributable to massive supply chain disruptions across significant export markets, including China and India. However, the industry is likely to recover over the forecast timeframe,...
Read more