DOOR HANDLES MARKET ANALYSIS

Door Handles MarketSize and Trends

Global door handles market was valued at US$ 9395.8 Million in 2021 in terms of revenue, exhibiting a CAGR of 3.92% during the forecast period (2022 to 2030).

Market Trends

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 increasing acceptance among 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, and crystal and satin looks 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 increasing traction across the hospitality industry, as they offer a shiny and artistic look. The growing tourism sector as well as the increasing establishment of commercial buildings are expected to generate significant demand for these door handles, thereby augmenting the industry growth. For instance, according to Invest India in 2021, international hotel chains have been focusing on establishing their outlets in India, which approximately contributes to a 50.0% share in the Indian tourism and hospitality sector. This initiative is expected to contribute to global industry growth in the near future.

Figure 2. Global Door Handles Market Value Share (%), By Material Type, 2021