Building construction industry is blooming and the growing urbanization fuels the already growing residential and commercial complexes. Be it a residential complex or a commercial space, the construction of multi-level buildings is soaring high worldwide.
This increased building construction has resulted in increased production of doors and door hardware. Door hardware is an essential in door manufacturing and as a result there is an increasing demand for door hardware market on a global scale.
Interior decoration, home remodeling and house styling are the terms trending globally. People are getting more concerned over the way house looks or how stylish is the office space. The seriousness over aesthetics has resulted in a rising emphasis on door hardware in particular.
Globally, the industry is building new forms of housing tagged as affordable, ecofriendly, flexible, stylish, or healthy. These alternatives to traditional homes already make up 4% to 6% of all new residential units built, redefining the home styling quotient. Apart from having well-designed doors, door handles and hinges are also getting a lot of attention from the consumers, consequently leading to an increasing door hardware market.
Fancy zinc door handles are trending within the door hardware market, and so is the demand for longer door hardware. The new building models accommodate doors and entrances with an expanded height and weight is one of the trends in the door hardware market. The existing accessories such as flush pulls, pull handles and other accoutrements do not suffice the requirements effectively and are therefore being replaced by longer door fittings.
Smart buildings and product innovations are the next thing. The improved and reframed building technology is an opportunity for the growth of the door hardware market. Contractors and builders are incorporating the internet of things and intelligent and agile systems to make buildings “smart” and energy efficient, in alignment with the call of the time. Smart locks are gaining popularity, especially in the developing regions. The popularity of smart locks is basis, the privilege of keyless entry, automatic door lock and extra safety and security.
A major challenge for the door hardware market is the rising adoption of revolving door system. The revolving doors are also gaining prominence owing to the fact that heavily frequented buildings require solutions that ensure entrances are safe, secure and user-friendly. As a matter of fact, intelligent, integrated solutions are designed within the revolving door category taking into consideration the efficiency in performance.
Another prime factor is that the visual appearance of revolving doors also allows creative scope for the design of facades. Moreover, the revolving doors are energy efficient as they prevent drafts, thereby decreasing the loss of heating or cooling for the building.
The key players in the door hardware market are
The players operating in the door hardware market are resorting to mergers & acquisitions and business expansion to facilitate the increasing door hardware market. For instance, in September 2018, Reguitti, an Italian based company that deals in manufacturing of door and windows handles, was acquired by SchlegelGiesse Ltd. which is an international division of the Tyman's PLC.
Global door hardware market is witnessing an increased growth in East Asia and South Asia, while the market share is majorly dominated by North America and Europe. Graphite Nickel (Gunmetal) is certainly a dazzling finish which has taken over Europe and has recently been introduced to North America.
The graphite nickel door handles are elegant yet subtle, natural yet poignant, and as a result grab an increasing demand from among the consumers. The Hampton style has returned to its glory and is being preferred in various current modern design applications and trends. Hampton style has revolutionized the Australian interiors because the Australian homes accommodate natural textures more often.
The global door hardware market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators, and governing factors, along with market attractiveness as per segment. The report also maps the qualitative impact of various market factors on market segments and geographies.
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