Builder Hardware Market Size, Share, Growth, And Industry Analysis, By Type (Doors Hardware, Windows Hardware, Cabinet Hardware, Plumbing Hardware, Others), By Application (Residential Market and Non-residential Market), And Regional Forecast to 2028

Updated On: 22 April 2024

Report Overview

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The global builder hardware market size was USD 50460 million in 2021. As per our research, the market is expected to reach USD 69860 million by 2028, exhibiting a CAGR of 4.7% during the forecast period. The COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels.

Builder hardware is a form of metal hardware used in construction for security, convenience, and decoration. Building products do not construct any aspect of a building; rather, they support and manufacture it. These instruments are usually in charge of supporting fixtures like doors, windows, and cabinets. Small, basic pieces are used in this category to fasten, strengthen, and/or facilitate part movement.

Among the oldest types of hardware are nails, bolts, screws, and other fasteners. Cold rolled steel, stainless steel 304, aluminum, zinc, copper, and other materials are commonly used to manufacture builders' hardware. Well-known builders' hardware companies dominate in China, Mexico, India, and parts of the U.S. Hardware in an industrial setting refers to the physical, mechanical pieces that comprise a product or application.

COVID-19 Impact: Pandemic Affected the Market Growth Negatively

The COVID-19 outbreak caused temporary business closures and supply chain and manufacturing disruptions, which reduced telecom infrastructure development and negatively affected the sales and marketing efforts of rugged phone companies competing in the market. The effects were severe, particularly for startups and small- to medium-sized businesses operating in this industry. Companies did, however, make many restructuring efforts to address the supply chain difficulties and improve collaboration with suppliers and partners to lessen the negative market impact.

Latest Trends

"Increase in Infrastructure to be a trendsetter in the Industry"

Rapid population increase is affecting demand for infrastructure facilities globally, with better infrastructure facilities for hospitals, educational institutions, megamarts, and other development projects sprouting up everywhere. The government also plays a major role in infrastructure development by heavily investing in the construction of hospitals, government offices, and educational institutions. Builder and cabinet hardware parts, which are widely used in the construction sector, are in high demand globally. The increasing need for infrastructure development projects is a primary driving force in the builder and cabinet hardware markets.

Segmentation

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• By Type Analysis

By Type, the market is fragmented into Doors Hardware, Windows Hardware, Cabinet Hardware, Plumbing Hardware, and Others.

• By Application Analysis

By Application, the market is bifurcated into Residential Market and Non-residential Market.

Driving Factors

"Investments in Product Innovation to Ampily Market Growth"

Companies all over the world are significantly investing in product innovation. They are deeply involved in the R&D process to deliver improved and novel products to meet consumer demand while fighting with competitors and rival products. Companies have introduced many types of building and cabinet hardware materials, such as locks, doorknobs, stainless flush hinges, cabinet handles used in kitchen and bedroom cabinets, and others. Companies also launched a high-security security system with alarms and smartphone control for homes and offices. The surge in builder and cabinet hardware innovation is a primary driver of the builder hardware market growth.

"Advancements in Residential and Commercial Sectors to Boost Market Growth"

Renovation activities in the residential and commercial sectors have developed dramatically in recent years as people's lives have changed and their disposable income has grown, pushing them to spend more on the ambiance of their homes and businesses. All interior designers use builders and cabinet hardware materials to develop and properly tune doors, windows, and cabinet accessories with the interior of rooms. Builders and cabinet hardware are vital in remodeling homes and commercial spaces since they help improve the place's aesthetic. The increasing number of renovation projects in the residential and commercial sectors is a major element driving the growth of the building hardware market.

Restraining Factors

"Security concerns among residents are a Major Market Restraint "

People are becoming increasingly concerned about the security of their homes and businesses as crime rates rise. As a result, significant players have introduced a variety of hardware and electronic locks to improve the security of people's homes and offices. Consumers have begun to select from various smart and high-tech security systems to strengthen the security of their homes and companies. Many people choose smart and electronic locks that can be entered via smartphones, as well as security pins and fingerprints made of highly tough and unbreakable material. One primary element propelling the global builder hardware market growth is the increasing adoption of high-tech security systems.

Regional Insights

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"Asia Pacific held the Biggest Market Share Owing to The Rising Construction Industry "

Asia Pacific held the biggest market share. The development of the building sector and increasing industrialization are two important elements that will influence its success. Countries such as Japan, China, and India will play an important role in deciding the growth of the Asia Pacific area throughout the anticipated time. China has experienced considerable industrialization in recent years, which has significantly impacted market performance. It will likely play a big part in builder hardware market growth in the future.

Key Industry Players

"Market Players to Employ Tactics In Order to Amplify Market Position"

Key market players in the builder hardware market share are entering into strategic partnerships and collaborations to expand their product portfolios, enhance their market presence, and cater to a broader customer base. Companies are focusing on continuous product innovation to meet evolving customer demands. Customization options, such as design, fixtures, and materials, provide a competitive advantage in the market. Market players are expanding their geographical presence through acquisitions, mergers, and establishing manufacturing facilities in new regions. This enables them to cater to the increasing demand for prefabricated bathroom pods across different markets.

List of Market Players Profiled

• Spectrum Brands (HHI) (U.S.)
• Masco Corporation (U.S.)
• Winkhaus (U.K.)
• Sobinco (Belgium)
• Lip Hing (Indonesia)

Report Coverage

The report's devoted part informs about the impact of COVID-19 and its succeeding variant outbreaks on demand, supply, price, vendor uptake, and recommendations for long-term outcomes. The updated study contains insights, analyses, projections, and predictions for the market, considering the COVID-19 impact. The research profiles a report with extensive studies describing the firms in the market affecting the forecasting period. Detailed studies also offer a comprehensive analysis by inspecting factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, and others. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.