Residential Hardware Market was valued at USD 80 Billion in 2022 and is projected to reach USD 120 Billion by 2030, growing at a CAGR of 5.5% from 2024 to 2030.
The global residential hardware market was valued at approximately USD 85 billion in 2022 and is projected to experience a compound annual growth rate (CAGR) of 6.5% from 2023 to 2028. This growth is driven by increasing demand for advanced and aesthetically pleasing home fixtures, driven by rising real estate activities and renovation projects. As more consumers focus on improving the functionality and appearance of their homes, the market for hardware such as door handles, locks, and cabinet fittings is expected to expand significantly. Additionally, the integration of smart technologies into residential hardware products is contributing to market growth by enhancing convenience and security for homeowners.
Opportunities in the residential hardware market are further bolstered by the growing trend of smart homes and the demand for sustainable and eco-friendly products. Emerging markets in Asia-Pacific and Latin America are presenting significant growth prospects due to increasing urbanization and rising disposable incomes. The development of innovative products that cater to the modern consumer's needs for energy efficiency and ease of use is expected to open new avenues for market players. Moreover, the rise in DIY home improvement projects is anticipated to create additional demand for residential hardware, enhancing overall market potential.
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Assa Abloy
Haefele
Allegion
G-U
Dormakaba
Guangdong Huitailong Technology Co.
Ltd
Kinglong
Archie
Guangdong Bida Bida
Gmt
Ekf
Norto Hardware
Vbh
Topstrong
Renas Hardware
Eco
Sseleco
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Residential Hardware Market
Door and Window
Furniture
Others
Based on Types the Market is categorized into Below types that held the largest Residential Hardware market share In 2023.
Hinges
Locks
Floor Springs
Others
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Residential Hardware Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Residential Hardware Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Residential Hardware Market, By Type
6. Global Residential Hardware Market, By Application
7. Global Residential Hardware Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Residential Hardware Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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