Builder Hardware Market Planning, Innovation to See Modest Growth Through 2024

Posted by Miller on October 9th, 2019

The global builder hardware market is expected to gain an unprecedented value of USD 55,795.8 million by 2024, with a CAGR of 4.88% during the forecast period (2019-2024). 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 the 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.

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Competitive Analysis

The prominent players profiled in the global builder hardware market report 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). Mergers, acquisitions, expansions, and product developments are some strategies that these companies employ to stay ahead of the rest. 

Segmental Analysis

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 dominated the market and was valued at USD 13,630.2 million in 2018. This value can reach USD 18,486.4 Million by 2024. Meanwhile, the metal segment is witnessing significant growth and is expected to attain 5.22% CAGR during the forecast period.

On the basis of application, the global builder hardware market is segmented into residential and non-residential. In 2018, the residential segment held the maximum market share and enjoyed a valuation of USD 23,288.9 million. This valuation can rise to USD 31,234.5 Million by 2024. This segment is expected to grow with the fastest CAGR of 5.03% during the forecast period.

Regional Analysis

On the basis of region, the global market is segmented into North America, Europe, Asia-Pacific, the Middle East & Africa, and South America. Asia-Pacific is anticipated to lead the builder hardware market during the study period, followed by North America.  The region is expected to witness the increased development of infrastructure and the construction of residential, commercial, and municipal buildings. China followed by Japan and India are countries that dominate the builder hardware market in Asia-Pacific.

The global builder hardware market is expected to reach USD 55,795.8 Million with a CAGR of over 4.88% by the end of the forecast period.

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?

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