Door Handles Market

Market Perspective

The global Door Handles Market was valued at USD 8.38 billion in 2022 and is projected to reach USD 11.91 billion by 2030, growing at a CAGR of 4.49% from 2023 to 2030.

The growth of the global door handles market can be attributed to several factors, including rapid urbanization, increased construction activities in the residential and commercial sectors, and a growing emphasis on interior aesthetics. Advancements in technology have resulted in the incorporation of smart features into door handles, improving security and convenience.

Additionally, there is a rising demand for sustainable and eco-friendly materials due to growing environmental consciousness. Current market trends encompass a shift toward minimalist and modern designs, customization options, and the adoption of touchless or sensor-based handles to address hygiene concerns. With ongoing urbanization and the increasing prevalence of smart home technology, the door handles market is estimated to expand further as a result of innovations in materials, designs, and smart functionalities.

Analyst’s Review on Door Handles Market

The global door handles market is experiencing robust growth, fueled by rapid urbanization, rising construction activities, and a growing focus on interior aesthetics. Technological advancements, particularly the integration of smart features, enhance security and convenience. Furthermore, increasing environmental awareness is driving the demand for sustainable materials. Market trends reflect a preference for minimalist, modern designs, customization, and touchless or sensor-based handles addressing hygiene concerns. Rapid urbanization and the surge in the adoption of smart home technology contribute significantly to the expansion of the market, with continuous innovations in materials, designs, and smart functionalities anticipated to further drive future growth.

Market Definition

The global door handles market, from an analytical perspective, refers to the market for various door handle products used in commercial, residential, and industrial settings. This market encompasses a diverse range of door handle types, including lever handles, door knobs, and others. Lever handles are designed to provide ergonomic functionality, while door knobs offer a more traditional and decorative option. The market also includes other types of door handles that cater to specific design preferences and functional requirements.

In terms of material, the global door handles market is segmented into aluminum, glass, steel, wood, plastic, and other materials. Each material offers unique characteristics in terms of durability, aesthetics, and suitability for different environments. For instance, aluminum and steel handles are known for their strength and longevity, while glass and wood handles provide a more elegant and natural appeal. Plastic handles are often chosen for their affordability and versatility. The diverse material options available in the market cater to the varied preferences and requirements of customers.

By end-use applications, the global door handles market is segmented into commercial, residential, and industrial sectors. The commercial end-use segment encompasses door handle installations in offices, hotels, retail stores, and other public spaces. The residential segment pertains to door handles used in houses, apartments, and condominiums. The industrial sector involves door handle applications in manufacturing facilities, warehouses, and other industrial settings. Different end-use segments have specific requirements in terms of design, durability, and functionality, which is driving the demand for door handles tailored to each sector.

Market Dynamics

The rapid pace of urbanization is a key driver propelling the growth of the global door handles market. As urban areas continue to expand and housing projects surge, the demand for residential and commercial spaces rises. This surge in construction activities directly results in an increased demand for door hardware, including door handles. Moreover, the shift toward an urban lifestyle places a significant emphasis on interior aesthetics, prompting consumers to seek stylish and functional door handle options that complement their living spaces. This demand is not only met by traditional designs but also by innovative and modern options, including smart door handles that offer enhanced security and convenience. As urbanization persists, the door handles market is set to thrive, driven by the continuous need for door hardware solutions in both new constructions and renovations within urban environments.

Supply chain disruptions have emerged as a significant restraint impacting the global door handles market growth. The market's reliance on raw materials, manufacturing processes, and distribution networks is vulnerable to disruptions caused by factors, including trade tensions, transportation bottlenecks, and global crises such as the recent pandemic. These disruptions lead to material shortages, production delays, and logistical challenges, all of which ultimately affect the availability of door handle products in the marketplace. Additionally, the door handles industry often depends on specialized manufacturing facilities and skilled labor, which can be disrupted by labor strikes, regulatory changes, or other unforeseen events.

Segmentation Analysis

The global door handles market is segmented based on product, material, end use, and geography.

Based on product, the market is further divided into lever handles, door knobs, and others. Lever handles dominated the segment’s revenue in 2022. The expansion of the segment is primarily fueled by growing consumer preference for the product, which is attributed to its compact design and long-lasting nature. Door levers provide a range of back plating choices that facilitate multiple functions. Changing infrastructural preferences, such as the rising demand for modern and sophisticated architectural designs, have also contributed to the growth of the lever handles market segment. The sleek and contemporary look of lever handles complements these new infrastructural preferences, making them a popular choice among architects, interior designers, and homeowners alike.

Based on material, the market is categorized into aluminum, glass, steel, wood, plastic, and others. The aluminum segment accounted for the largest market share in 2022 due to strong consumer preference for this material. This can be attributed to it's inherent qualities, such as lightweight durability, which make it an ideal choice for modern architectural designs. The market trend suggests a growing inclination toward contemporary aesthetics and a focus on sustainable solutions, where aluminum is preferred. Additionally, aluminum handles frequently provide corrosion resistance, further enhancing their appeal in diverse environments.

Based on end use, the market is segmented into commercial, residential, and industrial. The residential segment dominated the market in 2022 owing to the robust housing market, rising construction activities, and a surge in home renovations. The growth of the segment is mainly fueled by an increasing focus on interior aesthetics, door hardware customization, and a burgeoning population seeking personalized home solutions. Simultaneously, the commercial and industrial segments are adapting to evolving consumer lifestyles.

Geographical Analysis

Based on region, the global door handles market is classified into North America, Europe, Asia-Pacific, MEA, and Latin America.

North America is anticipated to dominate the market in 2022. This considerable growth can be attributed to several factors, prominently the widespread adoption of advanced technologies in the domestic door handles industry. The integration of smart features in door handles, catering to the rising demand for home automation and security, has contributed significantly to North America's leadership. Additionally, the region's penchant for sleek and contemporary designs aligns with the emerging trend of minimalist aesthetics, thereby supporting regional market growth.

Asia-Pacific is estimated to be the fastest-growing region over the forecast period. This remarkable growth is driven by the region's dynamic urbanization trends and robust infrastructure development. As cities expand and new construction projects surge, the demand for door handles in both residential and commercial properties has soared. Rapidly growing economies, such as China and India, are witnessing an expanding middle-class population with an increasing preference for modern and aesthetically pleasing interiors. This shift in consumer behavior is impelling the demand for innovative and stylish door handle designs in the region.

Competitive Landscape

The global door handles market study will provide valuable insight with an emphasis on the fragmented nature of the industry. Prominent players are focusing on several key business strategies such as partnerships, mergers and acquisitions, product innovations, and joint ventures to expand their product portfolio and increase their market shares across different regions. Expansion & investments are the major strategic initiatives adopted by companies in this sector. Industry players are investing extensively in R&D activities, building new manufacturing facilities, and supply chain optimization. The key manufacturers in the door handles market are

• Emtek Products
• Spectrum Brands
• Häfele
• Master Lock Company LLC.
• Allegion plc
• Ace Hardware Corporation
• AAR KAY VOX
• ASSA ABLOY
• WEST CORPORATION
• HOPPE Holding AG

Key Developments

• June 2023 (Acquisition): Fortune Brands Innovations, Inc., a prominent company specializing in home, security, and commercial building products, finalized the purchase of Emtek and Schaub, which are known for their premium and luxury door and cabinet hardware. Additionally, it acquired the residential smart locks business of Yale and August in the U.S. and Canada from ASSA ABLOY.
• June 2023 (Acquisition): Spectrum Brands Holdings, Inc., a top-tier company specializing in global branded consumer products and home essentials, officially completed the sale of its Hardware and Home Improvement business to ASSA ABLOY for $4.3 billion in cash, before standard purchase price adjustments. This sale was previously announced and marked a significant development for the company.

The global Door Handles Market is segmented as:

By Product

• Lever Handles
• Door Knobs
• Others

By Material

• Aluminum
• Glass
• Steel
• Wood
• Plastic
• Others

By Distribution Channel

• Offline
• Online

By End Use

• Commercial
• Residential
• Industrial

By Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • France
  • U.K.
  • Spain
  • Germany
  • Italy
  • Russia
  • Rest of Europe
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia-Pacific
• Middle East & Africa
  • GCC
  • North Africa
  • South Africa
  • Rest of Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America.