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Architectural Hardware Market Top Key Players, Demand, Industry Size and Forecast 2026 | Allegion plc, ASSA ABLOY
Architectural Hardware Market
In 2018, the global architectural hardware market reached a value of $15.9 billion, and it is anticipated to hit $23.2 billion by 2026, showcasing a compound annual growth rate (CAGR) of 6.8% from 2019 to 2026.
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The architectural hardware sector has experienced significant expansion in recent years, with projections indicating continued growth in the foreseeable future. This surge is attributed to factors like increased industrialization and urbanization, particularly evident in emerging markets, which serve to propel market expansion. Moreover, the construction industry's escalating demand for architectural hardware is expected to be a key driver of market growth in the forecast period.
Segmentation Based On:
By Application -
Doors
Windows
Furniture
Shower
By End-user -
Commercial
Industrial
Residential
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Nevertheless, certain challenges loom over the market's growth trajectory. Factors such as the rising cost of steel and fluctuations in foreign exchange rates are anticipated to impede market growth. Despite these challenges, the architectural hardware market presents promising opportunities for growth. The availability of cost-effective and efficient manufacturing processes, especially in the Asia-Pacific region, coupled with the escalating demand for door and window accessories in developing nations, signifies lucrative avenues for market expansion.
Top Runners:
The key players profiled in the architectural hardware market report include Allegion plc, ASSA ABLOY (Yale and Others), Bohle Ltd., 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, and Spectrum Brands, Inc.
Many players have adopted product development as the key developmental strategy to improve their product portfolio. For instance, in March 2019, Bohle launched new products for sliding door installations at the FIT Show conducted in the UK. The products include EasyMount 6020, base rail balustrading system, colored shower and bathroom hinges, vacuum lifting technology, glass processing tools, and others.
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