Architectural Hardware Market Outlook - 2026
The global architectural hardware market size was valued at $15,960 million in 2018, and is projected to reach $23,271 million by 2026, growing at a CAGR of 6.8% from 2019 to 2026. The architectural hardware includes door & window locks, door closers, floor springs, furniture fittings, panic bars, door automatics, shower fittings, door & window accessories, glass hardware patch fittings, glass hardware railings and other accessories.
The global architectural hardware market is projected to gain high momentum in near future supported by economic growth of various developing nations, and rise in infrastructural investments. The governments of various countries have taken initiatives related to infrastructure developments. Increased investment in the real estate sector boosts the demand for door and window accessories and other architectural components. At the same time, improving economies in the developing countries such as India, China, Indonesia, and others, have resulted in large investments from different countries, a factor that subsequently boosts the demand for architectural hardware in infrastructural and construction projects across various sectors. For instance, in January 2019, China invested $163 billion in the infrastructure sector to boost the economy. New construction projects includes two major airports and railway stations. Similarly, in September 2018, I Squared Capital, a private equity firm raised $7 billion for new infrastructure projects in India.
In addition, urban population growth is concentrated in emerging economies of the world, which fuels the demand for natural stones in these regions owing to high development rate for infrastructure. Urbanization has increased considerably over the last decade and is estimated to continue to increase during the forecast period in the developing countries such as India and China. The impact of urbanization on the housing sector is dominant.
However, increase in prices of raw materials such as iron, brass, copper, plastic, steel, and others, is expected to hamper the architectural hardware market growth. Furthermore, the rapid urbanization in third world countries is on the rise creating a demand for quality public infrastructure and utilities among those countries. Subsequently, the government initiative toward development of airports, educational buildings, hospitals, parks, and other public spaces, is anticipated to create substantial lucrative business opportunities for the market players in architectural hardware market.
The global architectural hardware market is segmented based on application, end-user, and region. Based on application, the market is segmented into doors, windows, furniture, and shower. Based on end user, the architectural hardware market is categorized into commercial, industrial, and residential. Based on region, the architectural hardware market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The architectural hardware market in LAMEA and Asia-Pacific has gained traction in the recent years, owing to significant number of ongoing infrastructure and industrial development projects in India, Brazil, and China.