According to the latest report by IMARC Group, titled “Architectural Hardware Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” offers a comprehensive analysis of the industry, which comprises insights on the global architectural hardware market growth. The report also includes competitor and regional analysis, and contemporary advancements in the market.
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.
architectural hardware Market Overview
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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Market Trends 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.
Global Tracking as a Service Market 2022-2027 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
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.
The report has segmented the market on the basis of region, app, type, asset type, enterprise size and end use industry.
Breakup by Application:
- Furniture
- Doors
- Windows
- Shower
Breakup by End User:
- Residential
- Commercial
- Industrial
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan,India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France,United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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