Global Market For Door Handles to Witness Tremendous Growth and Expansion by 2030

 Door Handles Market Growth & Trends

The global door handles market size is expected to reach USD 10.55 billion by 2030, registering a CAGR of 4.1% over the forecast period, according to a new report by Grand View Research, Inc. With the increasing construction activities in the commercial, residential, and industrial sectors, product demand is growing drastically. With the emergence of home remodeling trends across the globe, product demand is expected to grow. According to the statistics published by the National Association of the Remodeling Industry (NARI), residential building improvement in the U.S. is estimated to have an annual value of over USD 205 billion by 2023 and the home remodeling trend is expected to continue in the coming years offering key manufacturers an opportunity to develop trendy door handles that enhance the appealing look for houses.

Key manufacturers operating in the global industry are taking key measures and are investing in research and development activities to introduce new products with a compact and sleek design. For instance, in June 2022, TESA ASSA ABLOY launched a new range of state-of-the-art and high-performance door handles to cater to the rising demand among architects. Such product launches and other business initiatives by key players are expected to broaden product outreach and contribute to growth. The lever handle segment captured the largest revenue share in 2021 on account of the rising popularity and demand among consumers. Lever door handles are mainly manufactured from metals and offer high durability and strength against usual wear and tear. Whereas, pull handles are anticipated to demonstrate strong growth in the coming years mainly owing to the improved design patterns and elegant look offered.

The residential segment dominated the global industry in 2021 and is expected to maintain its dominance over the forecast years. According to the data published by United Nations, Population Division, and World Population Prospects, the global population is expected to reach 9.8 billion by 2050 creating the need for residential areas like condos, houses, and apartments. This is expected to drive industry growth. Asia Pacific captured the largest revenue share in 2021 due to the increased disposable income, rise in the number of residential and commercial construction projects, and product developments & innovations by key manufacturers. According to the report published by Oxford Economics in September 2021, global construction output is estimated to reach USD 13.3 trillion by 2025 with emerging Asia offering powerful growth opportunities. This is further expected to boost the product demand across the region.

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Door Handles Market Report Highlights

• The lever handle segment dominated the global industry andaccounted for the largest revenue share in 2021
• Lever handles have emerged as one the of trending door handle types due to their ease of use and durability. Key players are taking various initiatives to cater to the rising demand for lever handles
• Europe dominated the global industry in 2021 driven by a rise in the number of residential and commercial construction activities and the rising trend of home remodeling across the region
• Key companies are adopting various growth strategies including product expansion and mergers & acquisitions to serve the increasing product demand
• For instance, in January 2020, HOPPE Holding AG launched eHandles to offer improved security and connectivity

Access Press Release@ https://www.grandviewresearch.com/press-release/global-door-handle-market

Door Handles Market Segmentation

Grand View Research has segmented the global door handles market on the basis of type, material, application, and region:

Door Handles Type Outlook (USD Million, 2017 - 2030)

• Lever Handles
• Door Knobs
• Sliding Door Handles
• Pull Handles

Door Handles Material Outlook (USD Million, 2017 - 2030)

• Metal
• Plastic
• Fiber
• Others

Door Handles Application Channel Outlook (USD Million, 2017 - 2030)

• Residential
• Commercial

Door Handles Regional Outlook (Revenue, USD Million, 2017 - 2030)

• North America
  • US.
  • Canada
  • Mexico
• Europe
  • UK.
  • Germany
  • France
  • Italy
  • Spain
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia
• Central & South America
  • Brazil
• Middle East & Africa
  • South Africa

List of Key Players in Door Handles Market

• Assa Abloy AB
• The Häfele Group
• Allegion Plc
• Aarkay Vox
• Hoppe Holding AG
• Emtek Products Inc.
• Kuriki Manufacture Co.
• Ace Hardware Corp.
• West INX Ltd.
• Sugatsune America, Inc.

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.