Emphasis on Product Type (Lever Handles, Door Knobs); Material Type (Metal, Brass, Plastic, Wood, Aluminum); Application (Construction, Residential); and Region/Country
Global Door Handle Market was valued USD 7 Billion in year 2021 and is expected to grow at a significant rate of around 4.2% during the forecast period (2022-2028). A door handle market is anticipated to increase significantly due to the requirement of a wide variety of door handle and high degree of adaptability. The market will be dominated by new technologies like smart door handle with lock systems and the commercial use of automatic doors is the main reason that could increase the industry expansion. Increasing industrialization, new house construction, and commercial building construction, including hotels, offices, flats, and hospitals have also intensified the business of the door handle market and led to the increase in the production of opulent wooden doors, expansion of the premium housing market, and the usage of vintage metal door knobs in homes and bungalows. For instance, automotive manufacturer Hyundai in 2022, has showcased a new gesture-controlled door handle at its Open Innovation Lounge event in Seattle. The Door Handle prototype features a new type of capacitive sensor made of carbon nanotube-infused paper and can perceive human presence at up to 200 millimeters. However, an increased utilization of raw materials of low quality may require repairing of door handles, which is one of the main influence impeding business growth.
Some of the major players operating in the market include Assa Abloy, Häfele America Co., Allegion plc, AAR KAY VOX, Hoppe Holding AG, Ace Hardware, Kuriki Manufacture Co., Ltd., Sugatsune America, Inc., Latham’s Steel Security Doors and WEST CORPORATION
Insights Presented in the Report
“Amongst material type, the steel category accounted for the significant share in the market”
Based on material, the door handle market is segmented into metal, steel, plastic, aluminum, glass, and wood categories. The steel segment accounted for a significant share and it is estimated that it will show a considerable growth during the projected timeframe. Consumers are likely to choose steel door handle as they come up with durable material and design. Manufacturers in the industry are focusing on creating a number of composite materials that can be produced with less energy and emit fewer greenhouse gases.
“Amongst product type, the door knobs category is expected to witness considerable CAGR during the forecast period”
Based on product type, the market is fragmented into lever handles and door knobs. The door knob segment grabbed a considerable market share, and it is expected to grow at a significant CAGR during the forecast period. Manufacturers now introducing knob style door handles with sleek and opulent designs as customer’s preference has shifted from ornate fittings to contemporary patterns because of their compact shape and availability of various suitable designs for every infrastructure.
“Amongst application type, the commercial segment holds a significant share in the market”.
Based on application type, the door handle market is divided into residential and commercial categories. The commercial sector is anticipated to grow significantly during the forecasted period. The rise in the commercial buildings is observed due to the growth in the tourism industry, such as restaurants, hotels, homestays. For instance, International athletic events like Summer Olympics are boosting Japan’s hotel and dining industries. In the near future, hotels such the Park Hyatt, Hyatt Regency, and InterContinental are anticipated to open. It is also anticipated that the rising number of construction projects will increase product demand.
“Asia Pacific region accounted for the maximum door handle market share”
The Asia Pacific region Asia pacific is the largest market share holder for door handle industry. The market for door handle is growing as a result of increase in the sales of condos, townhomes, duplexes, and commercial properties including hotels, offices, and other structures. Additionally, the availability of numerous door handle producers in China and India offers a wide selection of premium quality lever handles and doorknobs would further increase market demand. For instance, post covid Godrej in India introduced an innovative contactless key, arm-operated door handle and foot-operated door openers to reduce contamination.
Door Handle Market Report Coverage
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1. Market Introduction
2. Research Methodology Or Assumption
3. Market Synopsis
4. Executive Summary
5. Impact Of Covid-19 On The Door Handles Market
6. Door Handles Market Revenue (usd Bn), 2020-2028f
7. Market Insights By Product Type
8. Market Insights By Material
9. Market Insights By Application
10. Market Insights By Region
11. Door Handles Market Dynamics
12. Door Handles Market Opportunities
13. Door Handles Market Trends
14. Demand And Supply-side Analysis
15. Value Chain Analysis
16. Pricing Analysis
17. Strategic Insights
18. Competitive Scenario
19. Company Profiled
20. Disclaimer
Research Methodology for the Door Handle Market Analysis (2022-2028)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global door handle market were the three major steps undertaken to create and analyze the adoption of the door handle in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global door handle market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the door handle market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the door handle market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as product type, material, and application. Further country-level analyses were conducted to evaluate the overall adoption of door handle in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the door handle market. Further, we conducted factor analysis using dependent and independent variables such as increased residential and commercial construction activities as well as rising consumer expenditure on interior decoration and house renovation. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the door handle market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global door handle market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global door handle market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of type, material type, and application in the global door handle market.
The main objective of the global door handle market study
The current & future market trends of the global door handle market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
Deep dive regional level analysis of the industry
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November 7, 2024
