IMARC Group has recently released a new research study “Architectural Hardware Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios.
What are the growth prospects of the architectural hardware Industry?
The global architectural hardware market size reached US$ 16.22 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 22.07 Billion by 2027, exhibiting a growth rate (CAGR) of 5.12% during 2022-2027.
What is a architectural hardware ?
Architectural hardware represents various products that are utilized in the construction of buildings and homes. They consist of locks, door handles, hinges, knobs, latches, floor springs, furniture fittings, glass hardware railings, panic bars, etc. These architectural hardware items are mostly manufactured using steel, brass, aluminum, iron, and stainless steel. They prove extremely useful in adding opening, closing, and locking functionalities to windows, doors, showers, etc.
Architectural hardware materials are durable and user-friendly, improve aesthetics, increase convenience, and enhance the safety and security of homes and buildings. Consequently, they find extensive applications in residential, commercial, and industrial establishments across the global.
Impact of COVID-19:
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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What are the major market drivers in the Architectural Hardware Market ?
The expanding construction industry across countries and the growing infrastructural development activities, such as seaports, airports, educational institutes, parks, healthcare facilities, stadiums, etc., are primarily driving the architectural hardware market.
In addition to this, the shifting consumer preferences from ornate fittings toward contemporary patterns and the launch of sleek and luxurious hardware components in unique textures, colors, designs, and materials are acting as significant growth-inducing factors.
Apart from this, the introduction of smart architectural hardware, which includes digital locks and door viewers that are user-friendly, provide remote access through smartphones, and improve the security of homes, garages, and other buildings is also positively influencing the global market. Moreover, the inflating investments in the real estate sector, the increasing refurbishment and reconstruction activities of numerous historical and public infrastructures, and the rising number of smart and green buildings, especially in developing countries, are anticipated to propel the architectural hardware market over the forecasted period.
|Architectural Hardware Market Report Scope|
|Market size value in 2021||US$ 16.22 Billion|
|Market forecast in 2027||US$ 22.07 Billion|
|Growth Rate||CAGR of 5.12% from 2022 to 2027|
|Base year for estimation||2021|
|Report coverage||Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, and Trends|
|Segments covered||Application And End User|
|Regional scope||Asia Pacific, Europe, North America, Latin America, Middle East and Africa|
|Key companies profiled||Allegion plc, Assa Abloy AB, Bohle Ltd., CRH plc, Godrej & Boyce Mfg. Co. Ltd., Häfele GmbH & Co KG, Hettich Holding GmbH and Co. oHG, HOPPE Holding AG, Spectrum Brands Inc. and Taiwan Fu Hsing Industrial Co. Ltd.|
|Market Dynamics||Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,|
|Customization purview||If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.|
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The report has been segmented the market into following categories:
Breakup by Application:
Breakup by End User:
• North America (United States, Canada)
• Europe (Germany, France, United Kingdom,
Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia,
Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
List of Major Key Players:
The major players in the market are
Assa Abloy AB
Bohle Ltd., CRH plc
Godrej & Boyce Mfg. Co. Ltd.
Häfele GmbH & Co KG
Hettich Holding GmbH and Co. oHG
HOPPE Holding AG
Spectrum Brands Inc.
and Taiwan Fu Hsing Industrial Co. Ltd.
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