Door Handles Market Analysis Report By Type, By Application, By Region And Segment Forecasts From 2019 To 2025

Industry Insights

The global door handles market size was worth USD 2.6 billion, in the year 2018. It is projected to grow with a CAGR of 3.9% over the forecast period, 2019 to 2025. The market expansion is driven by the increasing use of door handles for various commercial and residential projects, fast industrialization and urbanization, and customer outlay on interior furnishings and renovation.

Customer tendency to keep up with new trends prevailing in the market has boosted the market growth. Shifting customer inclinations from decorative fittings to modern pattern have engaged the companies in the production of trendy products with enhanced patterns, materials, and designs that facilitate artistic finish to the infrastructure. Such enhanced design and patterns are in high demand among customers and are projected to further accelerate market growth.

Guarantee, functioning, artistic designs, price, durability, ease in installation, and security level are some of the factors influencing the buying decision of customers. According to consumer buying behavior, the standard price for entrance door handles was around USD 129, wherein they prefer to purchase these products at a cost of USD 200. Approx. 30% of customers prefer to purchase knob door sets amounting to USD 65, whereas the average price accounts for USD 44. These purchase patterns depict that customers are ready to pay extra for door handles due to their availability in broad ranges and patterns, which is projected to accelerate the door handle market over the forecast period.

The producers are concentrating on the launch of glossy and deluxe designs of door handles to satisfy customers changing requirements from decorative fittings to modern designs. The knob-style door handles are gaining popularity among customers because of their dense structure and accessibility of several designs suitable for every door. A few of the prevalent designs in the market are matte texture, crystal and satin look, polished nickel, and bronze and brass finishes. Some of the players providing these types of products are Carlisle Brass Ltd and ASSA ABLOY.

Brass metal door handles are gaining traction in the hospitality industry, as they provide an attractive and sparkly look to the exterior as well as interior doors of the infrastructure. The market growth is accelerated by increasing tourism and construction of corporate infrastructure, which is predicted to drive demand for these door handles. According to Invest India, by the year 2022, Global hotel chains are concentrating on incorporating their stores in India, which nearly accounts for 50.0% share in the Indian hospitality and tourism segment, and this proposal is projected to support global market growth in the forecast period.

Type Insights

Lever handles held the major share exceeding 40.0% in the year 2018. The growth of this segment is majorly driven by its advantages like loose grip, convenience during handling as well as stylish finish and doors having slim stile thicknesses majorly demand these lever handles. Lever handles are majorly used in European nations as their infrastructure is comprised of swing doors. The lever handle segment is projected to be accelerated by the comfort of use in relation to handiness and intensity, over the forecast period.

Door knobs are projected to register a CAGR of 4.2%, over the estimated period,2019 to 2025. Enhancement in the product in terms of look, design, and style is leading to the doorknobs market growth. Doorknobs are anticipated to have wide use in the residential sector as it suits the appearance and design of any door and adjacent furniture. Leading players are also adding modern designs to knobs with the objective to give a classy finish to the doors. This objective of the leading players further drives the market demand for doorknobs.

Application Insights

The residential sector registered a share exceeding 50.0% in the year 2018. The growth is accelerated by the rising demand for door handles by the home renovating and new construction undertakings. Garibaldi at Squamish Ski Resort in Canada is an imminent residential venture, worth 3.5 billion Canadian dollars. M City Mixed-Use Development – Phase 2+, The Well, Oxford Place, and Rockcliffe Lands Redevelopment are a few of the residential initiatives, each worth exceeding 1 billion Canadian dollars. The growth of residential infrastructures has surged the demand for door handles.

The erection of corporate infrastructures like hotels and restaurants has increased with the development of the tourism industry. Brazil has incorporated 54 new hotels, offering 10,591 new rooms in the year 2018. International sporting competitions like the 2020 Summer Olympics, which is planned in Tokyo, are boosting the capacity of hotels and restaurants in Japan. Hotels like InterContinental, Park Hyatt, and Hyatt Regency are anticipated to open very soon. The rise in construction projects of hotels and restaurants is projected to fuel door handles demand.

Regional Insights

The Asia Pacific held a share of 31.4% in 2018 and is projected to display considerable growth with a CAGR of 4.2% from 2019 to 2025. Emerging tourism and an increase in the construction of commercial and residential infrastructures are fueling the growth of the door handle market. A key market player Hotel Management Japan is proposing investment plans for incorporating three new hotels in Andhra Pradesh in India, which is projected to be one major tourist destination. An increase in guestrooms by 2025 is also proposed by the state’s tourism department to promote the growth of the tourism industry. The forthcoming construction projects are anticipated to boost the demand for door handles over the forecast period.

Door Handles Market Share Insights

The major players of the global market are Sobinco, Ace Hardware, Allegion plc, Hafele, India International House Ltd. Companies Kuriki Manufacture Co., LATHAMS SECURITY DOORSETS Ltd., SSA ABLOY Group, and WEST inx. To satisfy changing customer needs along with maintaining their market standing companies are engaged in constant product enhancement and innovation. Yanko Design developed Zento, an enlightening door handle outfitted with an autonomous wireless power system, which is useful in the incidents of electricity shutdown and fire smoke.

Report Scope

Segment Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2025. For the purpose of this study, Million Insights has segmented the global door handle market report on the basis of type, application, and region:

• Type Outlook (Revenue, USD Million, 2015 - 2025)
    • Lever Handles
    • Door Knobs
    • Sliding door handles

• Application Outlook (Revenue, USD Million, 2015 - 2025)
    • Residential
    • Commercial

• Regional Outlook (Revenue, USD Million, 2015 - 2025)
    • North America
        • U.S.
    • Europe
        • Germany
        • U.K.
    • the Asia Pacific
        • China
        • India
    • Central & South America
        • Brazil
    • Middle East & Africa
        • Africa