Door Handle Market Size Worth $3.3 Billion by 2025 | CAGR: 3.9%: Grand View Research, Inc.

SAN FRANCISCO, July 16, 2019 /PRNewswire/ -- The global door handle market size is expected to reach USD 3.3 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 3.9% over the forecast period. 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.

Key suggestions from the report:

• Lever handles accounted for the largest share of more than 40.0% in 2018
• The residential sector accounted for the largest share of more than 50.0% in 2018 due to demand for door handles by the new construction and home remodeling projects
• Asia Pacific accounted for a share of 31.4% in 2018 owing to growing establishment of residential and commercial infrastructures and booming tourism industry
• Some of the key players operating in the global door handles market are ASSA ABLOY Group, Hafele, Allegion plc., Sobinco, LATHAMS SECURITY DOORSETS Ltd., Kuriki Manufacture Co., WEST inx, Ace Hardware, and India International House Ltd.

Read 80 page research report with TOC on "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" at: https://www.grandviewresearch.com/industry-analysis/door-handles-market

Moreover, companies are manufacturing fashionable products with modified and improved designs, patterns, and materials that offer rich aesthetic appeal to the infrastructures. The market growth is also attributed to booming residential and commercial construction, driven by rapid urbanization and industrialization, along with increasing consumer spending on home remodeling and interior fittings.

Shifting customer preferences from ornate fittings to contemporary patterns has been driving the manufacturers to introduce these products with sleek and luxurious designs and materials. Knob style 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.

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. These products 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.

Asia Pacific held a share of 31.4% in 2018 and is expected to witness the fastest growth over the forecast period. This growth is attributed to rising establishment of residential and commercial infrastructures and booming tourism industry. 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 demand for the global market.

Grand View Research has segmented the global door handle market on the basis of type, application, and region:

• Door Handles Type Outlook (Revenue, USD Million, 2015 - 2025)
• Lever Handles
• Door Knobs
• Sliding Door Handles
• Door Handles Application Outlook (Revenue, USD Million, 2015 - 2025)
• Residential
• Commercial
• Door Handles Regional Outlook (Revenue, USD Million, 2015 - 2025)
• North America
• U.S.
• Europe
• Germany
• U.K.
• Asia Pacific
• China
• India
• Central & South America
• Brazil
• MEA
• Africa

Find more research reports on Consumer Goods Industry, by Grand View Research:

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About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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