Door Handles Market Size, Share & Trends Analysis Report By Type (Lever Handles, Door Knobs), By Application (Residential, Commercial), By Region, And Segment Forecasts, 2019 - 2025

Report Overview

The global door handles market size was valued at USD 2.6 billion in 2018 and is expected to grow at a compound annual growth rate (CAGR) of 3.9% from 2019 to 2025. The market growth is attributed to booming residential and commercial construction, driven by rapid urbanization and industrialization, along with increasing consumer spending on home remodeling and interior fittings.

The market has been gaining an increasing traction among the consumers on account of their frequent purchases to keep up with the latest trends in the market. Moreover, companies are manufacturing fashionable products with modified and improved designs, patterns, and materials that offer rich aesthetic appeal to the infrastructures.

Factors impacting the purchase decisions of consumers include product durability, extended guarantee, security level, smooth functioning, price, ease of installation, and appealing designs. As per the consumer purchase patterns, the median price for entrance door handles was about USD 129, wherein they purchase these products costing at least USD 200. With respect to knob door sets, approximately 30% of the consumers purchase these products costing about USD 65, whereas the median price amounts to USD 44. Therefore, these purchase trends indicate the fact that consumers are willing to pay more for door handles, which is expected to drive the door handle market in the next few years.

Shifting customer preferences from ornate fittings to contemporary patterns has been driving the manufacturers to introduce door handles with sleek and luxurious designs and materials. Knob style door handles are gaining an increasing acceptance among the consumers due to their compact structure and availability of various appropriate designs for every infrastructure. Some of the prominent designs trending in the market are polished nickel, matte texture, brass and bronze finishes, crystal and satin look available in various geometric shapes and patterns. Some of the companies offering such products are ASSA ABLOY and Carlisle Brass Ltd.

Brass metal door handles are gaining an increasing traction across the hospitality industry, as they are offer a shiny and artistic look to the interior and exterior doors of the infrastructure. Growing tourism as well as increasing establishment of commercial buildings are expected to generate significant demand for these door handles, thereby augmenting the market growth. For instance, as per the information by Invest India, by 2022, International hotel chains have been focusing on establishing their outlets in India, which approximately contributes to 50.0% share in the Indian tourism and hospitality sector. This initiative is expected to contribute to the global market growth in the near future.

Type Insights

Lever handle doors held the largest share of more than 40.0% in 2018. The segment growth is primarily driven by its benefits. Lever door handles do not need a tight grip in order to be operated. Levers are mostly preferred on doors that have narrow stile widths. Door levers offer a wide variety of back plating options that enable a number of functions. Lever handles are mostly used in European countries for their external doors. Some of the popular door types in European countries are swing doors that majorly use lever handles. Ease of use in terms of strength and dexterity among the consumers is expected to drive the segment in future.

Door knobs are expected to exhibit the fastest CAGR of 4.2% over the forecast period. This growth is attributed to increasing product modifications in terms of designs, styles, and look. Door knobs are expected to have a vast application in the residential sector as it fits the style and appearance of any door and surrounding furniture. Companies are also adding contemporary designs to knobs with an aim to provide an elegant look to the doors.

Application Insights

The residential sector accounted for the largest share of more than 50.0% in 2018. This is attributed to increasing demand for door handles by the new construction and home remodeling projects.For instance, in Canada, Garibaldi at Squamish Ski Resort is an upcoming residential project, with a project value of 3.5 billion Canadian dollar. Oxford Place, M City Mixed-Use Development – Phase 2+, Rockcliffe Lands Redevelopment, and The Well are some of the few residential projects, each with a project value of more than 1 billion Canadian dollar.

Growth of the tourism industry is driving the construction of commercial buildings such as restaurants and hotels. For instance, Brazil has established 54 new hotels, providing 10,591 new rooms in 2018. International sporting competitions such as the 2020 Summer Olympics, which is scheduled to take place in Tokyo in 2020, are fueling the capacity of hotels and restaurants in Japan. Hotels such as Park Hyatt, Hyatt Regency, and InterContinental are expected to open shortly. Increasing number of construction projects is expected to augment the product demand.

Regional Insights

Asia Pacific accounted for a share of 31.4% in 2018 and is expected to witness significant growth over the forecast period. This growth is attributed to rising establishment of residential and commercial infrastructures and booming tourism industry. Operating company Hotel Management Japan is planning to drive investment plans focusing on establishing three new hotels in Andhra Pradesh, which is expected to be one of the prime tourist locations. The state’s tourism department is also aiming to increase guestrooms by 2025. These upcoming projects are expected to drive the demand for door handles in the next few years.

Key Companies & Market Share Insights

Companies are actively involved in product upgradation to sustain the market competition as well as cater to the consumer’s changing preferences for elegant designs. For instance, Yanko Design developed Zento, an illuminating door handle equipped with an independent wireless power system, which is helpful in events of firesmoke and electricity blackout. Some of the prominent players in the door handles market include:

• ASSA ABLOY Group

• Hafele

• Allegion plc.

• Sobinco

• LATHAMS SECURITY DOORSETS Ltd.

• Kuriki Manufacture Co.

• WEST inx

• Ace Hardware

• India International House Ltd

Door Handles Market Report Scope

Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis on the latest industry trends and opportunities in each of the sub-segments from 2015 to 2025. For the purpose of this study, Grand View Research has segmented the global door handles market report on the basis of type, application, and region:

• Type Outlook (Revenue, USD Million, 2015 - 2025)

  • Lever Handles

  • Door Knobs

  • Sliding Door Handles

• Application Outlook (Revenue, USD Million, 2015 - 2025)

  • Residential

  • Commercial

• Regional Outlook (Revenue, USD Million, 2015 - 2025)

  • North America

    •  U.S.

  • Europe

    • Germany

    •  U.K.

  • Asia Pacific

    • China

    •  India

  • Central & South America

    •  Brazil

  • Middle East & Africa (MEA)

    • Africa