Door Handles Market size is expected to showcase significant growth over 2021-2027 owing to improved product durability, security level, smooth functioning, easy installation, and appealing designs. The availability of a wide range of door handles along with great versatility is projected to significantly boost the industry share. New technologies such as smart door handles with lock systems will capture the door handle market. The major factor that may restrain the market growth is the commercial usage of automated doors.
Growing industrialization, new housing, and commercial building constructions, such as apartments, hotel, office, hospital, are factors driving the growth of the global door handles market. An increase in the manufacturing of luxurious wooden doors, the growing premium housing segment, and use of antique metal door handles in luxurious home & bungalows will spur demand. Increasing disposable incomes, high standard of living, and luxurious life are growth factors fuelling antique metal door handles.
Industry players are continuously investing in R&D to develop luxurious and cost-effective door handles with different types of composite materials that are highly efficient in a wide range of applications. Improved designs, patterns, and materials that offer rich aesthetic appeal will further escalate revenue generation in the door handles market. Advanced composites such as carbon steel, brass, and polyvinyl chloride offer new market opportunities for residential and commercial applications.
Based on materials, the door handles market share is divided into metallic, plastic, wood, and others. Metallic door handles such as carbon steel, copper, bronze, brass, cast iron, nickel, and stainless steel will showcase a considerable growth due to the benefits offered by these materials including durable, long lasting, and stylish. Industry participants are developing several composite materials for door handles that can be manufactured with less energy and reduce greenhouse gas emissions.
Based on type, the door handles market is segmented into lever handle, pull handle, doorknob, and sliding door handle. Lever handle will account for a significant share by 2027. These do not need a tight grip for operation as it prevents the hand from slipping. Door levers offer a wide variety of back plating options that enable several functions.
The APAC door handles market share is expected to grow significantly from 2021 to 2027 on account of rising sales of apartments, villas, duplex, and commercial properties such as hotels, hospitals, office buildings, and others. Moreover, the presence of multiple door handle manufacturers in India and China offering a wide range of premium quality lever handles and doorknobs will further accentuate the market demand.
Prominent players in the door handles market share include Aarkay Vox, Ace Hardware, Allegion plc, Assa Abloy Group, Bangpai, Daya, Emtek products Inc., Galbusera G. & G., Hafele, HOPPE Holding AG, India International House Ltd, Latham’s Steel Security Doors, Seleco Hardware Decoration Products Co., Schlegel, Sobinco, Sugatsune America Inc., and WEST inx Ltd.
Innovations in technologies, new product launches, and mergers & acquisitions are few of the major strategies adopted by industry players to improve their market share. For instance, in September 2018, Schlegel an international division of the Tyman's PLC acquired Reguitti, an Italian-based company that deals in the manufacturing of door & window handles. Similarly, in March 2016, Schlegel International acquired Italian-based hardware specialist, Giesse.
The above information has been provided on a regional and country basis: