The global builder hardware market

Builder Hardware Market Overview

Global Builder Hardware Market is Expected to Expand at 4.88% CAGR during the forecast period.  

The global builder hardware market is expected to witness substantial growth during the forecast period. Asia-Pacific is estimated to be a prominent region in the builder hardware market due to the rapid pace of industrialization and urbanization in emerging economies, such as China, India, and Japan. Furthermore, activities such as refurbishing and renovation of old buildings have increased investments in the infrastructure and construction industries, fuelling the builder hardware market during the forecast period. In 2018, North America held the second-largest market share in the builder hardware market. The region has witnessed significant growth in the construction industry, owing to the increase in real estate investments. Such factors are collectively driving the builder hardware market in this region.

Segmentation

The global builder hardware market is segmented based on type and application. On the basis of type, the global builder hardware market is segmented into cabinet hardware, doors, hardware, windows hardware, plumbing hardware, and others. The cabinet hardware segment is expected to dominate the global market during the forecast period. Cabinet hardware includes components that are used to make cabinets, such as hinges, pulls, latches, knob, and fasteners. The growing construction activities is expected to drive the demand for cabinet products during the forecast period.

On the basis of application, the global builder hardware market is divided into residential and non-residential. The residential segment is expected to hold the maximum market share, owing to the growing population and rapid pace of urbanization.

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Key Competitors:

The key players of global builder hardware market are ASSA ABLOY (Sweden), Allegion plc (Ireland), Masco Corporation (US), dormakaba Group (Switzerland), Tyman plc (US), Roto (Germany), Siegenia (Germany), GUANGDONG KIN LONG HARDWARE PRODUCTS CO., LTD (China), and Sobinco (Belgium).

Regional Analysis:

Region-specific analysis of the global builder hardware market spans across North America, Europe, Asia-Pacific, the Middle East & Africa, and South America.

Global Builder Hardware Market, by Region, 2018  

Source: MRFR Analysis

Asia-Pacific is expected to dominate the global builder hardware market during the forecast period. The growth of the construction industry and the improvement in the financial conditions in Asia-Pacific have led to the growth of the construction industry and, consequently, the builder hardware market. Moreover, the rapid industrialization and urbanization in emerging economies, such as China, India, and Japan, also driving the growth of the builder hardware market in the region. Furthermore, activities such as the refurbishing and renovation of old buildings have increased investments in the infrastructure and construction industries, fuelling the builder hardware market in Asia-Pacific. According to the National Bureau of Statistics of China, in 2017, the value-added output of the construction industry reached USD 816.6 billion, compared to the USD 2.1 billion in 1978, with an average annual growth rate of 16.6%. The country has experienced rapid growth in industrialization and growing population levels, which have fuelled the demand for affordable housing. The significant growth of the construction industry is expected to drive the builder hardware market in the region during the forecast period.

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Synopsis:

The global builder hardware market has been segmented on the basis of type, application, and region. On the basis of type, the global market is divided cabinet hardware, doors, hardware, windows hardware, plumbing hardware, and others. The cabinet hardware segment is expected to dominate the global market due to the growing construction activities across the regions.

Industry Updates

• In March 2019, ASSA ABLOY completed the acquisition of Spence Doors, a leading manufacturer of commercial doors in Australia. This acquisition helped strengthen its position in mature markets by adding complementary products and solutions to its core business.

• In May 2018, Allegion plc announced the acquisition of GWA Group Limited’s Door and Access Systems business through one of its subsidiaries. This strategic acquisition increased its presence in Australia and significantly improved its position in the market in Asia-Pacific.

Market Segmentation

• By Type – Cabinet Hardware, Doors, Hardware, Windows Hardware, Plumbing Hardware, and Others
• By Application – Residential and Non-Residential

Key Questions Addressed by the Report

• What was the historic market size (2018)?
• Which segmentation (Type/Application is driving market?
• What will be the growth rate by 2024?
• How are the key players in this market?
• What are the strategies adopted by key players?

Report Scope:

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