What is the global market size of Door Handles Market?

Door Handles Market size was valued at USD 7.40 billion in 2021 and is poised to grow from USD 8.10 billion in 2022 to USD 10.90 billion by 2030, growing at a CAGR of 4.3% in the forecast period (2023-2030).

Door Handles Market Size, Share, Growth Analysis, By Type(Lever Handle, and Knob Handle), By Application(Residential, and Commercial), By Material(Brass, Aluminium, and Zinc), By Region - Industry Forecast 2024-2031

Report ID: SQMIG30K2023 | Region: Global | Published Date: April, 2024
Pages: 198 | Tables: 88 | Figures: 76

Door Handles Market News

In April 2023, Door handle manufacturer, Emtek, partnered with online furniture retailer, Wayfair, to offer Emtek's products on Wayfair's platform.

In March 2023, Swedish lock manufacturer, Assa Abloy, acquired British smart lock company, Danalock, to expand its smart lock product range.

In February 2023, Door handle manufacturer, Yale, launched a new range of door handles with facial recognition technology.

In January 2023, Chinese door handle manufacturer, Hopo Group, announced a joint venture with German lock manufacturer, Winkhaus, to expand their product range.

In August 2022, Door handle manufacturer, Schlage, launched a new range of door handles with integrated fingerprint recognition for enhanced security.

Door Handles Market Report Snapshots

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Global Door Handles Market size was valued at USD 8.10 billion in 2022 and is poised to grow from USD 8.45 billion in 2023 to USD 11.83 billion by 2031, growing at a CAGR of 4.30% during the forecast period (2024-2031).

The door handle industry is highly competitive, with numerous players competing based on product innovation, design, pricing, and quality. Small and medium-sized enterprises play a significant role in the industry, as they offer a diverse range of products and cater to the demand from local and regional markets. Market players are continuously investing in research and development activities to enhance their production techniques and introduce new product offerings to the market. In addition, companies are also focusing on expanding their distribution networks to reach a broader customer base and gain a competitive edge in the industry. 'ASSA ABLOY (Sweden)', 'Allegion (Ireland)', 'dormakaba Group (Switzerland)', 'HOPPE Holding AG (Switzerland)', 'SARGENT Manufacturing Company (US)', 'Hafele (Germany)', 'Baldwin Hardware (US)', 'Emtek Products, Inc. (US)', 'Stanley Black & Decker (US)', 'Carlisle Brass Ltd (UK)', 'Kwikset Corporation (US)', 'Schlage (US)', 'Karcher Design (Germany)', 'GEZE GmbH (Germany)', 'Sugatsune America, Inc. (US)', 'Ingersoll Rand (Ireland)', 'D Line (Denmark)', 'Excel Hardware Pte Ltd (Singapore)', 'Sugatsune Kogyo Co., Ltd. (Japan)', 'JNF (Germany)'

One key driver of the door handle industry is the increasing demand for fashionable and modern door handle designs that offer rich aesthetic appeal to infrastructures. Consumers are frequently purchasing door handles to keep up with the latest trends and to upgrade the appearance of their homes and buildings. Moreover, door handle manufacturers are introducing sleek and luxurious designs and materials to meet the shifting customer preferences towards contemporary patterns. This driver is expected to continue to propel the industry growth in the coming years.

One of the key market trends in the door handle industry is the shift towards modern and luxurious designs that offer rich aesthetic appeal to infrastructures. Manufacturers are introducing door handles with sleek and contemporary patterns and materials to cater to the evolving customer preferences. Knob-style door handles are gaining acceptance among consumers due to their compact structure and availability of various appropriate designs for every infrastructure. Companies are investing in research and development activities to improve production techniques and introduce innovative designs that meet the changing needs of consumers, which is expected to further drive the market growth.

North America dominates the door handle market due to its increasing investments in the real estate sector and sales of new homes. According to the Home Improvement Research Institute (HIRI), Americans spent nearly 9% more on home improvement between 2019 and 2020, which includes door handle upgrades. Moreover, the rise in government initiatives in several nations aimed at encouraging affordable housing for the lower-income population is a significant factor driving the industry. Additionally, companies are manufacturing fashionable products with modified designs, patterns, and materials that offer rich aesthetic appeal to the infrastructures.

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Door Handles Market Size, Share, Growth Analysis, By Type(Lever Handle, and Knob Handle), By Application(Residential, and Commercial), By Material(Brass, Aluminium, and Zinc), By Region - Industry Forecast 2024-2031

Door Handles Market News

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