Global Door Handles Market Size, Share, Growth Analysis, By Type(Lever Handle, and Knob Handle), By Application(Residential, and Commercial), By Material(Brass, Aluminium) - Industry Forecast 2024-2031

Global Door Handles Market size was valued at USD 8.10 billion in 2022 and is poised to grow from USD 8.45 billion in 2023 to USD 11.83 billion by 2031, growing at a CAGR of 4.30% during the forecast period (2024-2031).

The door handle industry is thriving, propelled by the surge in construction activities in residential and commercial sectors and heightened consumer expenditure on home renovation and interior decor. Consumers are actively seeking out trendy products with updated designs, patterns, and materials that enhance visual appeal. Moreover, the burgeoning trend of home remodeling projects is further fueling industry expansion. With advancements in technology, production methods, and increased R&D efforts, market players are poised to capitalize on new opportunities, diversifying their offerings and driving revenue growth. Manufacturers are responding to evolving consumer tastes by introducing sleek, luxurious designs, and materials, particularly knob-style handles tailored to diverse infrastructures. Door handles featuring polished nickel, matte textures, brass, bronze finishes, crystal accents, and satin looks in assorted geometric shapes and patterns are gaining popularity. Brass door handles, in particular, are finding favor in the hospitality sector for their elegant appearance, with the growing tourism industry and rising commercial construction further boosting demand and overall industry growth.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global Door Handles Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Global Door Handles Market Segmental Analysis

The Global Door Handles market is segmented by type, application, material, and region. Based on type, the market can be segmented into lever handles, and knob handles. Based on application, the market is segmented into residential, and commercial. Based on material, the market is segmented into brass, aluminium, and zinc. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Drivers of the Global Door Handles Market

One significant factor propelling the door handle industry forward is the growing desire for stylish and contemporary designs that enhance the aesthetic appeal of buildings and homes. Consumers are regularly investing in door handles to stay abreast of current trends and enhance the visual appeal of their properties. Additionally, manufacturers are responding to changing consumer tastes by introducing elegant and opulent designs and materials, catering to the increasing demand for modern patterns. This trend is anticipated to sustain industry growth in the foreseeable future.

Restraints in the Global Door Handles Market

One of the main challenges faced by the door handle industry revolves around the frequent need for repairs, largely stemming from the utilization of substandard raw materials during manufacturing. Such materials contribute to malfunctions and breakages, thereby imposing extra maintenance expenses on consumers. This issue poses a substantial obstacle to industry expansion, as potential buyers may be deterred by the prospect of recurrent repairs or replacements. Hence, manufacturers must prioritize the use of superior raw materials to mitigate the occurrence of door handle malfunctions and enhance consumer confidence.

Market Trends of the Global Door Handles Market

A prominent trend in the door handle industry is the growing demand for modern and opulent designs, enhancing the visual appeal of buildings and structures. Manufacturers are responding by introducing sleek, contemporary door handles crafted from a variety of materials, aligning with evolving consumer tastes. Knob-style handles are increasingly favored for their compactness and diverse design options, suitable for a range of architectural styles. Companies are actively investing in research and development to refine production methods and innovate new designs, anticipating continued market expansion driven by evolving consumer preferences.