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Architectural Hardware Market to Reach $23.27 Billion, Globally, by 2026 at 6.8% CAGR: Allied Market Research

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Allied Market Research

12 Dec, 2019, 10:26 GMT

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Surge in need for beautification of the residential and commercial building, rapid urbanization, and technological innovations in manufacturing of hardware drive the global architectural hardware market

PORTLAND, Oregon, Dec. 12, 2019 /PRNewswire/ -- Allied Market Research published a report, titled, "Architectural Hardware Market by Application (Doors, Windows, Furniture, and Shower), and End User (Commercial, Industrial, and Residential): Global Opportunity Analysis and Industry Forecast, 2019–2026." According to the report, the global architectural hardware industry generated $15.96 billion in 2018, and is expected to reach $23.27 billion by 2026, registering a CAGR of 6.8% from 2019 to 2026.  

Drivers, restraints, and opportunities

Surge in need for beautification of the residential and commercial building, rapid urbanization, and technological innovations in manufacturing of hardware drive the global architectural hardware market. However, rise in raw material prices and fluctuations in foreign currencies hinder the market growth. On the other hand, surge in focus on affordable housing structures create new opportunities in the market.

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The furniture segment to maintain its highest share by 2026

Based on type, the furniture segment held more than half of the total share of the global architectural hardware market in 2018, and is expected to maintain its highest share during the forecast period. This is due to surge in popularity of eco-friendly homes and inclination of residential end users toward adoption of smart furniture. However, the shower segment is expected to register the highest growth rate of 5.7% from 2019 to 2026, owing to growing popularity of modern bathrooms and increasing trend of beautifying bathroom and aesthetic appeal among the urban population.

The residential segment to maintain its dominance throughout the forecast period

Based on end user, the residential segment held the highest market share in the global architectural hardware market, contributing for more than half of the market share in 2018, and is expected to maintain its dominance throughout the forecast period. This is due to growth in population and rapid urbanization particularly in emerging economies. Moreover, the industrial segment is expected to register the fastest CAGR of 5.2% from 2019 to 2026. This is due to market players offering architectural hardware with enhanced properties that cater to industrial requirements.

Asia-Pacific to contribute its lion's share during the forecast period

Based on region, Asia-Pacific contributed for the largest market share, accounting for more than half of the global architectural hardware market in 2018, and is estimated to contribute its lion's share during the forecast period. This is attributed to rapid urbanization & industrialization, strong economic growth, and increase in population in the region. North America is estimated to contribute the second-highest revenue by 2026. However, LAMEA is expected to contribute the highest CAGR of 5.6% from 2019 to 2026, owing to the demand for compact and low-cost infrastructure in the residential sector and advanced economic conditions of people in the region.

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Leading market players

  • Allegion Plc
  • ASSA ABLOY (Yale and Others)
  • Bohle Ltd.
  • C.R. Laurence Co., Inc.
  • Fortress Industrial Co., Ltd.
  • Godrej Locking Solutions & Systems
  • Häfele GmbH & Co KG
  • Hettich Holding GmbH & Co. oHG
  • HOPPE Holding AG
  • Spectrum Brands, Inc.

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Knowledge tree is a cloud-based intelligence platform that offers more than 2,000 selective, off-the-shelf reports on niche markets to enable our clients gain deep insights on the latest trends, dynamic technologies, and emerging application areas.

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About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:

David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free): 
+1-800-792-5285, +1-503-894-6022, +1-503-446-1141
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