A recent research study by MarkNtel Advisors reveals that the Global Door Handles Market is set to register around 4% CAGR during 2023-28. The accelerating demand for residential complexes, owing to the exponentially rising population levels, is driving the door handles industry globally. In addition, the rapidly expanding commercial sector, i.e., resulting in ever-increasing construction activities associated with offices, shopping malls, airports, & hospitals, is another crucial aspect projected to boost the market in the coming years.
Moreover, the growing interest of people in fashionable & trendy door handles owing to their improving disposable incomes is another prominent aspect driving the market. The leading players in the industry are actively working on introducing modern door handles to cater to the improving living standards of people and urbanization trends. As more & more consumers worldwide are heavily spending on home remodeling & interior fittings, it is creating massive demand for door handles and, in turn, propelling the market growth.
Lever Handles to Continue their Dominance in the Market during 2023-28
The high demand for lever handles owes to their compact structure, excellent durability, and a wide variety. Many door handle manufacturers are expanding their production & distribution capacities to cater to various ongoing infrastructural activities worldwide. Lever handles offer numerous back-plating options that allow for varied functions, and owing to their ease of use, high strength, & dexterity, they are used extensively across several European countries for external doors. These factors are amplifying the demand for lever handles and, in turn, propelling the growth of the door handles market.
Asia-Pacific to Remain the Most Prominent Door Handles Industry through 2028
The rapidly growing establishment of residential & commercial infrastructures, the booming tourism sector, especially in countries like India, China, & Japan, and the presence of the leading manufacturer, Hotel Management Japan, are the prime aspects driving the Asia-Pacific Door Handles Market. The company is planning to massively invest in establishing new hotels to cater to the burgeoning number of international tourists in Asia-Pacific, i.e., hinting toward various construction activities and, consequently, installation of doors & windows, which, in turn, would augment the demand for door handles and spur growth in the regional market over the forecast years.
The key companies in the Global Door Handles Market include The Häfele Group, Assa Abloy AB, Aarkay Vox, Kuriki Manufacture Co., Hoppe Holding AG, Ace Hardware Corporation, Emtek Products Inc., Sugatsune America, Inc., West Corporation, Allegion Plc, Latham’s Steel Security Doors, Schlage, Baldwin Hardware, Archello, and Door Handle Company.
Key Questions Answered in the Research Report: