Sliding and Folding Door Hardware Market Analysis and Latest Trends
Sliding and folding door hardware refers to the components and mechanisms necessary for the smooth operation and installation of sliding and folding doors. These doors are commonly used in residential, commercial, and industrial buildings due to their space-saving nature and aesthetic appeal. The hardware includes tracks, rollers, hinges, handles, locks, and other accessories that enable the doors to slide or fold.
The sliding and folding door hardware market has witnessed significant growth in recent years. This growth can be attributed to several factors, including the increasing demand for space-saving solutions in urban areas, the growing construction industry, and the rising popularity of open floor plans. Additionally, advancements in technology have led to the development of innovative hardware solutions that enhance the functionality and durability of sliding and folding doors.
The market is also benefiting from the rising adoption of energy-efficient building systems and the increasing focus on interior design aesthetics. Sliding and folding doors offer versatility in design and can be customized to meet specific requirements, driving their demand in various end-use industries.
Moreover, the COVID-19 pandemic has further accelerated the market growth as people are spending more time at home and investing in home improvement projects. The sliding and folding door hardware market provides an opportunity for manufacturers to cater to the increasing demand for stylish and space-efficient doors.
Overall, the sliding and folding door hardware market is projected to grow at a CAGR of 4.2% during the forecast period. Factors such as urbanization, increasing construction activities, and the need for space optimization are expected to drive the market's growth. Additionally, the integration of smart technologies in sliding and folding door hardware is anticipated to create new growth opportunities in the market.
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Sliding and Folding Door Hardware Major Market Players
The sliding and folding door hardware market is highly competitive with several key players operating globally. Some of the major companies in this market include ASSA ABLOY, Hafele, Roto Frank, DORMA, Siegenia-aubi, Spectrum Brands, Knape and Vogt, Andersen, Tyman plc, KIN LONG Company, Richelieu, Klein, Allegion, Richards-Wilcox, Marvin Windows & Doors, ABP Beyerle, SAVIO, L.E. Johnson Products, HAUTAU, Eclisse, Coburn, Centor, Ironmongery Direct, Portman Doors, Barrier Components, SDS London, Brio, Hettich, and Rothley.
ASSA ABLOY is one of the leading players in the sliding and folding door hardware market. The company offers a wide range of products, including sliding door systems, folding door systems, and related accessories. ASSA ABLOY has a strong presence in both residential and commercial segments. The company's market growth has been driven by its focus on product innovation, technological advancements, and expansion into emerging markets. ASSA ABLOY has also been actively acquiring small and medium-sized companies to expand its product portfolio and market reach.
Hafele is another prominent player in the sliding and folding door hardware market. The company offers a diverse range of products, including sliding and folding door systems, track systems, and related accessories. Hafele has a strong global presence with a wide distribution network. The company's market growth can be attributed to its focus on design, quality, and customer service. Hafele has been investing in research and development to introduce new and innovative products in the market.
Andersen is a well-known player in the sliding and folding door hardware market, particularly in the residential segment. The company offers a range of sliding and folding patio doors, which are known for their durability, energy efficiency, and aesthetic appeal. Andersen has been experiencing steady growth in the market, driven by its strong brand reputation, product reliability, and commitment to sustainability.
While specific sales revenue figures for these companies are not available, it is important to note that the sliding and folding door hardware market has been experiencing significant growth globally. Factors such as urbanization, increasing construction activities, and the growing demand for energy-efficient solutions have been driving the market growth. The global sliding and folding door hardware market size was valued at approximately USD 10 billion in 2019, and it is expected to grow at a CAGR of around 5% from 2020 to 2026.
What Are The Key Opportunities For Sliding and Folding Door Hardware Manufacturers?
The sliding and folding door hardware market has witnessed significant growth over the years due to the increasing demand for versatile and space-saving door solutions. The market data suggests a steady growth rate, with the residential segment dominating the market share. Factors such as urbanization, rising disposable incomes, and changing lifestyles are driving the demand for these door hardware solutions. Additionally, technological advancements, such as the development of energy-efficient and smart door hardware, are expected to further boost the market growth in the near future. With increasing awareness about sustainable construction practices and the growing preference for aesthetically pleasing interiors, the sliding and folding door hardware market is expected to maintain its upward growth trajectory.
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Market Segmentation
The Sliding and Folding Door Hardware Market Analysis by types is segmented into: