Door Handle Market Growth Prospect Mapping, Regulatory Framework & PESTEL Analysis, 2025

Felton, Calif., USA, July. 13, 2021 — /EPR Network/ —

The global Door Handle Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.

Market Overview:

The global door handles market is projected to be valued at USD 3.3 billion by 2025, as per a new report provided by Million Insights. It is expected to grow with a CAGR of 3.9% over the expected period, 2019 to 2025. Consumers’ tendency of regular purchases to keep pace with the new fads prevailing in the market along with changing preference from ornate designs to modern patterns is driving the market growth.

Key Players:

• Assa Abloy
• Hafele
• Allegion
• Sobinco
• Lathams Security Doorsets Ltd
• Kuriki Manufacture Co. Ltd.
• WEST inx.
• Ace Hardware
• India International House Ltd.
• Sugatsune USA

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Growth Drivers:

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 doors 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 to USD 44. These purchase patterns depict that customers are ready to pay extra for door handles due to its 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 Outlook:

• Lever Handles
• Door Knobs
• Sliding Door Handles

Regional Outlook:

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 door handle market. A key market player Hotel Management Japan is proposing for investment plans for incorporating three new hotels in Andhra Pradesh in India, which is projected to be one major tourist destination. An increase in the guestrooms by 2025 is also proposed by the state’s tourism department to promote the growth of tourism industry. The forthcoming construction projects are anticipated to boost the demand for door handles over the forecast period.

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