The global barn door hardware market was valued at US$ 1,680.2 million in 2018, according to Barn Door Hardware Market Report, by Product Type (Flat Track Hardware, Frameless Hardware, Curved Track Hardware, Box Rail Hardware and Others), by Application (Commercial and Residential) and by Region (North America, South America, Asia Pacific, Europe, and Middle East & Africa) published by Coherent Market Insights.
The global barn door hardware market is expected to reach US$ 2,272.1 million by 2027, exhibiting a CAGR of 3.5% over the forecast period.
A barn door offers advantages such as space reduction, convenience, and light weight which makes it easier to install. These doors are widely installed by architects in homes, office spaces, and healthcare facilities as they occupy less space. Moreover, these doors are helpful in hospitals and other medical facilities owing to their light weight, which makes it easier for patients and children to handle the doors. Conventional doors require some force while closing and opening, thereby, making it difficult to handle. Thus, the aforementioned advantages offered by barn doors are driving growth of the barn door hardware market, globally.
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/barn-door-hardware-market-3503
Browse 44 market data tables* and 82 figures* on "Barn Door Hardware Market” - Global forecast to 2027.
Key Trends and Analysis of the Barn Door Hardware Market:
Rapid urbanization has led to increased construction and infrastructure activities across the globe. According to United Nations' World Urbanization Prospects 2018, 55% of the world’s population in 2018 lived in urban areas, which is expected to increase to 68% in 2050. Increasing global population could add another 2.5 billion people to urban areas by 2050, and Asia Pacific is expected to account for around 70% of this increase.
However, availability of alternatives to barn doors such as pocket doors, folding screens, and normal doors is hindering growth of the barn door hardware market.
Key Takeaways of the Market:
- In 2018, North America held the largest market share of 38.3% in the global barn door hardware market. The U.S. is the largest market in North America for barn door hardware accounting for 87.2% share in 2018, followed by Canada and Mexico. This is due to growing residential construction industry, along with rising investments in residential properties in the U.S. and Canada. According to the National Bureau of Statistics, investment in residential properties increased by 6.4% year-on-year in 2016 from 2015 in the U.S. These factors are expected to drive growth of the North America barn door hardware market in the near future.
- Europe is expected to witness significant growth in the global barn door hardware market by 2020. Rest of Europe accounted for a largest market share of 1% in 2018 followed by Germany and the U.K, whereas Spain accounted for the smallest share in the Europe barn door hardware market in 2018. The increase in disposable income has led to adoption of interior designing services among residential and commercial buildings, which is driving growth of market in this region. According to Organization for Economic Co-operation and Development’s (OECD) data published in 2018, the adjusted gross disposable income of household per capita in European Union was 29,128 thousands in 2016, which increased to US$ 30,143 thousands in 2017.
- Major players operating in the global barn door hardware market include Smart Standard, MWE North America, Specialty Doors, RW Hardware, Custom Service Hardware Inc., Rustica Hardware, Spectrum Brands, Inc., Real Carriage Door & Sliding Hardware, Artisan Hardware, and Agave Ironworks, LLC among others.
