COVID-19 Pandemic disrupted the entire world and affected many industries. Get detailed COVID-19 impact analysis on the Architectural Hardware Market
PORTLAND, OR, UNITED STATES, October 7, 2021 /EINPresswire.com/ — A number of domestic players are expanding their business in Asia-Pacific, owing to increased customer base, enhanced effective operations, developed product portfolios, and expanded geographical reach. This is anticipated to fuel the demand for architectural hardware. Furthermore, by application, the furniture segment is expected to experience growth due to the emergence of new commercial spaces around the globe.
The global architectural hardware market size was valued at $15.9 billion in 2018, and is projected to reach $23.2 billion by 2026, growing at a CAGR of 6.8% from 2019 to 2026.
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The architectural hardware market has witnessed substantial rise over the past few years and is expected to record similar growth during the coming years. Increase in industrialization and urbanization, particularly in the emerging markets, further fuels the architectural hardware market growth. In addition, increase in demand for architectural hardware in the construction industries is expected to drive the market growth during the forecast year.
However, rise in cost of steel, and fluctuating foreign exchange are anticipated to hinder the market growth. Furthermore, availability of low-cost and efficient manufacturing particularly in Asia-Pacific and rise in demand for door and window accessories in developing countries provide lucrative growth opportunities for the market.
Top 10 Leading Players
ASSA ABLOY (Yale and Others)
C.R. Laurence Co., Inc.
Fortress Industrial Co., Ltd.
Godrej Locking Solutions & Systems
Häfele GmbH & Co KG
Hettich Holding GmbH & Co. oHG
HOPPE Holding AG
Spectrum Brands, Inc.
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Key Market Segmentation
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