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Market Overview of Global Door Handles for Residential market:
According to our latest research, the global Door Handles for Residential market looks promising in the next 5 years. As of 2022, the global Door Handles for Residential market was estimated at USD XX million, and it's anticipated to reach USD XX million in 2028, with a CAGR of XX% during the forecast years.
Door Handles for Residential are the handles used to open or close a door in residential areas.
Influence of COVID-19 Outbreak on Door Handles for Residential Industry Development
The epidemic has a great impact on North America, especially the United States. On March 26, 2020, the United States became the country with the highest number of confirmed COVID-19 infections. As of March 2021, California had the most cases. As of February 2021, Canada had reported 890,698 cases and 21,435 deaths. COVID-19 The epidemic has undoubtedly caused a profound impact on the current North American economy. The epidemic has brought different challenges and opportunities to various industries in North America, and these changes may profoundly affect the future development trend and competitive landscape of the industry.
Due to the coronavirus (COVID-19) pandemic, the manufacturing industry, real estate, construction buildings, etc. have been slow to resume work due to the flow of people and logistics. There have been serious delays and interruptions in residential construction, resulting in a sharp drop in activities. The epidemic prevention and control measures will affect the flow of people and activities, and in turn affect logistics, making the production of manufacturing, especially labor-intensive industries, affected by the supply of raw materials and labor shortages. The residential construction market outperformed the overall economy and rebounded from the initial shock to the economy caused by the COVID-19 outbreak, which left millions of people unemployed. The U.S. housing market continues to be supported by record low mortgage rates and a major shift in remote work, which has prompted many tenants and first-time homebuyers who rely on their jobs and wealth to seek more affordable housing and greater low-density living Space in a region (such as suburbs, suburbs, and rural communities).
The cost of materials has begun to rise, and now the pressure on the supply chain is increasing, and we have seen an increase in transportation and logistics costs. The schedule is also affected by material movement restrictions. Although tariffs have disappeared for many months, as the new administration enters the White House and trade negotiations continue, tariffs are expected to become the main topic of discussion. Fortunately, the prevailing view across the industry is that future discussions will only help improve the current situation. The recent news of successful COVID-19 vaccine development indicates that restrictions on economic activity will be reduced in 2021.
In addition, under the management of the newly elected President Joe Biden, the less destructive foreign trade environment can benefit from lowering tariffs in the sector. This should limit the rise in construction material costs to some extent. Obviously, the market Resuming. However, there is still uncertainty as to how long the expansion of the housing market will last. In the case of the continuous emergence of COVID-19 in the second and third rounds of peaks, several state and local governments have imposed new lockdowns and restrictions on companies, which has paralyzed business activities in many areas of the country. The ensuing weak demand may lead to a new wave of unemployment, which may put pressure on the economy and drag down the growth of the industry.
From the perspective of door handles products, the company's entry barrier is not high, and there is not much room for fundamental product innovation. At present, the gap between the major companies in the industry is not too big, or the gap is not insurmountable, but the current industry development has been in an extensive situation, lacking a strict market supervision system, resulting in serious uneven product quality. Moreover, the industry has a long history of development and is already very mature. There are a large number of manufacturers in the industry, and the homogeneity of products is serious, and it is difficult for companies to form unique competitive advantages. Moreover, the profitability level is relatively low, and it is difficult to attract new entrants into the industry, and the industry will gradually lack vitality.
Among the manufacturing costs of door handles, technology and R&D costs are relatively low, and the most important ones are raw material costs and labor costs. Therefore, to expand profitability, increasing revenue and reducing expenditure is the most important way. The labor-intensive industries in developing regions have obvious cost advantages. For a long time, the low cost of manufacturing factors such as labor and land is the basic advantage for developing countries to undertake industrial transfer from developed countries and participate in the international division of labor in manufacturing. In addition, the market size advantages of these regions have become increasingly prominent. Despite the deepening of the global industrial division of labor and the continuous integration of the global market, the manufacturing industry can make use of the international market for development. Therefore, developing regions pose a certain threat to the residential door handle industry in North America.
Allegion plc. is one of the major players operating in the Door Handles for Residential market, holding a share of 15.77% in 2021.
Allegion PLC provides security products and solutions. The Company offers mechanical and electronic security products, services, and systems to keep people and places safe.
Kwikset manufactures and markets door locks and door hardware. The Company offers door knobs and levers, deadbolts, handlesets, pocket door hardware, light commercial products, electronic keyless entry locks, and accessories for residential and commercial applications.
Among different product types, Interior with Exterior segment is anticipated to contribute the largest market share in 2028.
By application, the New Construction segment occupied the biggest share from 2018 to 2022.
This report covers a research time span from 2018 to 2028, and presents a deep and comprehensive analysis of the global Door Handles for Residential market, with a systematical description of the status quo and trends of the whole market, a close look into the competitive landscape of the major players, and a detailed elaboration on segment markets by type, by application and by region.
Key Takeaways from the Global Door Handles for Residential Market Report:
Market Size Estimates: Door Handles for Residential market size estimation in terms of value and sales volume from 2018-2028
Market Trends and Dynamics: Door Handles for Residential market drivers, opportunities, challenges, and risks
Macro-economy and Regional Conflict: Influence of global inflation and Russia & Ukraine War on the Door Handles for Residential market
Segment Market Analysis: Door Handles for Residential market value and sales volume by type and by application from 2018-2028
Regional Market Analysis: Door Handles for Residential market situations and prospects in North America, Asia Pacific, Europe, Latin America, Middle East, Africa
Country-level Studies on the Door Handles for Residential Market: Revenue and sales volume of major countries in each region
Door Handles for Residential Market Competitive Landscape and Major Players: Analysis of 10-15 leading market players, sales, price, revenue, gross, gross margin, product profile and application, etc.
Trade Flow: Import and export volume of the Door Handles for Residential market in major regions.
Door Handles for Residential Industry Value Chain: Door Handles for Residential market raw materials & suppliers, manufacturing process, distributors, downstream customers
Door Handles for Residential Industry News, Policies & Regulations
Key players in the global Door Handles for Residential market are covered in Chapter 12:
ASSA ABLOY Group
In Chapter 2 and Chapter 15.1, based on types, the Door Handles for Residential market from 2018 to 2028 is primarily split into:
Interior with Exterior
In Chapter 3 and Chapter 15.2, based on applications, the Door Handles for Residential market from 2018 to 2028 covers:
Geographically, the detailed analysis of consumption, revenue, market share and growth rate of the following regions are covered in Chapter 7, 8, 9, 10, 11, 15.3, 15.4:
North America (Covered in Chapter 7)
Asia-Pacific (Covered in Chapter 8)
Europe (Covered in Chapter 9)
Latin America (Covered in Chapter 10)
Middle East and Africa (Covered in Chapter 11)
The data of this research report is mainly obtained from industry associations, magazines, press releases, national customs, annual reports of enterprises, expert interviews, paid databases and other channels with authority. It also provides scientific forecasts of the industry's core development indicators through professional analysis and forecasting models.
In short, whatever role you take in this industry value chain, this report will help you or your company to acquire a systematic and in-depth understanding of the industry.
This report consists of 16 chapters. Below is a brief guideline to help you quickly grasp the main contents of each chapter:
Chapter 1 starts the report with an overview of the Door Handles for Residential market, as well as the definitions of the target market and the subdivisions. Through the presented global market size, regional market sizes, and segment market shares, you will be able to draw an overall and comprehensive picture of the market situation. Meanwhile, the research method and data source will be shared in this chapter.
Chapter 2 and Chapter 3 breaks down the market by different types and applications, with historic data presented in metrics of sales volume, revenue, market share and growth rate.
Chapter 4 elaborates on market dynamics and future trends in the industry, which contains an in-depth analysis of market drivers, opportunities, challenges, and risks. Other essential factors that will have a major impact on the market, i.e., industry news and policies in recent years, global inflation, and regional conflict, are also taken into consideration.
Chapter 5 compares the sales volume and revenue of the major regions across the globe, which enables the readers to understand the regional competitive pattern.
Chapter 6 is the analysis of the trade flow. Import volume and export volume are revealed on a regional level.
Chapters 7-11 focus on country-level studies. Data from the major countries in each region are provided, showing the current development of the industry in different countries. Besides, you will also find qualitative trends analysis under global inflation under each of the 6 regions.
Chapter 12 first up presents the competitive landscape by displaying and comparing the revenues, sales volumes, and market shares of the top players in the market, followed by a company-by-company analysis of all the major market participants with introductions of their products, product applications, company profiles, and business overview. In addition, their competitiveness is manifested through numbers of sales volume, revenue, price, gross and gross margin.
Chapter 13 looks into the whole market industrial chain, ranging from the upstream key raw materials and their suppliers to midstream distributors and downstream customers, with influences of global inflation taken into consideration.
Chapter 14 is perfect for those who wish to develop new projects in the industry. This chapter sheds a light on industry entry barriers and gives suggestions on new project investments.
Chapter 15 forecasts the future trend of the market from the perspective of different types, applications, and major regions.
Chapter 16 is the conclusion of the report which helps the readers sum up the main findings and insights.
Years considered for this report:
Historical Years: 2018-2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2023-2028