Dublin, Nov. 01, 2023 (GLOBE NEWSWIRE) -- The "Architectural Hardware Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The global architectural hardware market has displayed robust growth, reaching a market size of US$ 17.1 Billion in 2022. Analysts anticipate further expansion, with a projected Compound Annual Growth Rate (CAGR) of 4.9% during 2023-2028, ultimately reaching an estimated US$ 23.1 Billion.
Architectural Hardware: Building Essentials
Architectural hardware encompasses a range of products used in building and construction, including door handles, locks, hinges, latches, knobs, floor springs, furniture fittings, panic bars, and glass hardware railings. These items are typically manufactured from materials such as brass, steel, aluminum, stainless steel, and iron.
Architectural hardware plays a vital role in adding functionality to doors, windows, showers, and other building components. Known for durability and user-friendliness, it enhances aesthetics, increases convenience, and improves the security and safety of homes and buildings.
Market Trends:
The global construction industry's significant growth is a driving force behind the market's positive outlook. Architectural hardware is essential for constructing doors, windows, plumbing, and furniture, integral to residential, commercial, and industrial spaces. Infrastructure development activities, including airports, seaports, educational institutions, healthcare facilities, parks, and stadiums, further bolster market growth.
Changing consumer preferences, with a shift from ornate fittings to contemporary designs, sleek and luxurious hardware in unique colors, textures, and materials, are propelling the market. The introduction of smart architectural hardware, featuring digital locks and door viewers, is enhancing home security with remote access through smartphones.
Additionally, the introduction of matte textures, brass, nickel, and bronze finishes, as well as crystal and satin looks in various geometric shapes and patterns, is driving market expansion. Investments in the real estate sector, refurbishment of historical and public infrastructure, construction of smart and green buildings, and extensive research and development (R&D) activities also contribute to market growth.
Key Market Segmentation
The global architectural hardware market report analyzes trends in each sub-segment and offers forecasts at the global, regional, and country levels from 2023 to 2028. Market segmentation is based on application and end-user.
Application Insights:
- Furniture
- Doors
- Windows
- Shower
End-User Insights:
- Residential
- Commercial
- Industrial
Regional Insights:
- 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
Competitive Landscape
The report provides a comprehensive analysis of the competitive landscape, featuring key players including Allegion plc, Assa Abloy AB, Bohle Ltd., CRH plc, Godrej & Boyce Mfg. Co. Ltd., Hafele GmbH & Co KG, Hettich Holding GmbH and Co. oHG, HOPPE Holding AG, Spectrum Brands Inc., and Taiwan Fu Hsing Industrial Co. Ltd.
Key Questions Answered in This Report:
- How has the global architectural hardware market performed, and what is its future outlook?
- What impact has COVID-19 had on the global architectural hardware market?
- What are the key regional markets for architectural hardware?
- What is the market's segmentation based on application and end-user?
- What are the driving factors and challenges in the industry?
- Who are the key players in the global architectural hardware market?
- What is the degree of competition within the industry?
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 146 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $17.1 Billion |
| Forecasted Market Value (USD) by 2028 | $23.1 Billion |
| Compound Annual Growth Rate | 5.1% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/88ba4o
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