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Door Handles Market Size
Door Handles Market size is anticipated to witness substantial expansion from 2024 to 2032, driven by the robust demand for premium housing worldwide. The residential housing sector is witnessing commendable progress due to the recovery of real estate operations from the COVID-19-induced slump. Likewise, rapid urbanization, industrialization, and the acceleration of commercial building construction spending is fueling the production of interior and exterior door handles and locks.
The ongoing trends in renovation and remodeling will also contribute to substantial industry gains. With homeowners and businesses undertaking upgrading projects, the demand for stylish, modern door handles may surge. Renovations, including replacing old, worn-out handles with sleek, contemporary designs, are also enhancing the overall aesthetics of spaces.
Additionally, the jump in remodeling projects in commercial buildings, hotels, and retail spaces will drive the need for durable and functional door handles. To enhance access, several manufacturers are designing products with improved features, including durability, smooth functioning, security level, aesthetic appeal, and seamless installation. However, the economic downturns impacting construction activity, fluctuations in raw material prices affecting manufacturing costs, and challenges in meeting stringent safety and quality standards may hamper the industry development to some extent.
Door Handles Market Trends
Growing emphasis on increasing hotel rooms amid travel and tourism recovery will foster the market trends in the years to come. This rise in hotel occupancy rates, the high living standards, and disposable incomes are expected to bolster the consumption of decorative door handles for hotels and other commercial building applications, providing potential growth opportunities to the industry players.
For instance, in January 2024, Ultrafabrics, a renowned supplier of high-tech performance textiles, collaborated with Allgood, a building hardware manufacturer to offer a variety of Ultrafabrics textiles in several colors as a fitted grip on elegant cabinets and door handles.
Door Handles Market Analysis
The metallic door handles industry is estimated to generate substantial revenue between 2024 and 2032, owing to their durability and long-lasting attributes. Stainless steel door handles, for example, are emerging as suitable alternatives to other plastic handles, given their enhanced visual appeal and rustproofing. Due to their high strength, metallic door handles have become an excellent choice for improving home security. Moreover, developing metal composite materials using less energy and greenhouse gas footprints will present lucrative opportunities for industry progression.
The door handles market from the commercial segment will depict a significant growth rate from 2024 to 2032. The burgeoning demand for fire-rated doors as a vital component of fire safety in offices and commercial establishments is one of the primary factors amplifying the product demand. Over recent years, investors have gained awareness of the role of commercial real estate as a sophisticated and profitable asset class for making elevated yield and surging commercial construction.
The Asia Pacific door handles industry is estimated to amass considerable gains over 2024-2032, owing to the rise in international travelers and tourist arrivals. With the thriving residential construction sector and the strong presence of premium product manufacturers, the sales of door handles is expected to grow in China, India, and other APAC countries. Additionally, the rise of smart home technologies and the focus on interior design trends will contribute to the demand for stylish door handles in the region.
Door Handles Market Share
Some of the major door handles industry players are:
- WEST inx Ltd.
- Sugatsune America Inc.
- Sobinco, Schlegel
- Seleco Hardware Decoration Products Co.
- Latham’s Steel Security Doors
- HOPPE Holding AG
- Hafele
- Galbusera G. & G
- Emtek products Inc (Assa Abloy)
- Daya
- Bangpai
- Assa Abloy Group
- Allegion plc
- Ace Hardware
- Aarkay Vox
Key firms operating in the door handles industry are continuously working on product innovations for delivering a diverse range of designs, finishes, and materials. Additionally, strategic partnerships, market expansions, and customer-centric approaches are undertaken by them to gain competitive edges. To illustrate, Ace Hardware offers a wide range of door hardware solutions whilst focusing on quality, variety, and customer satisfaction.
Door Handles Industry News
- In January 2024, Ozone Overseas, a major global participant in architectural hardware and security solutions, introduced its all-new cutting-edge Door Handles Collection across different Indian cities.
- In February 2024, Foster + Partners Industrial Design teamed up with FSB, a prominent German manufacturer, to design handles in aluminum, bronze, and stainless-steel finishes.