In-depth Analysis and Data-driven Insights on the Impact of COVID-19 Included in this Global Door Closer and Exit Devices Market Report. The global door closer and exit devices market by revenue is expected to grow at a CAGR of approx.
New York, April 08, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Door Closer and Exit Devices Market - Global Outlook and Forecast 2021-2026" - https://www.reportlinker.com/p06058028/?utm_source=GNW
5% during 2020–2026.
The global door market is witnessing constant innovations. The increasing demand for better technical features and efficient products is driving the market growth. Key vendors in the market have constantly been adopting innovative features to keep pace with changing regulations and consumer demands, thereby influencing the adoption of door closers and exit devices during the forecast period. They are manufacturing the devices that meet the requirements of recently updated BS8300 standards for low opening forces, CE marking, and compliance with fire regulations. The introduction of CAM-Motion technology, combining an integrated damping device that allows the door to be closed quietly, safely, and securely at a regulated speed, which can preserve the safety and silence of the door closing technique. These technologies are ideal for hospitality, healthcare, education, commercial, and government buildings. Vendors offer electric strikes, electromagnetic locks, and access control components in their products. ASSA ABLOY Electronic Security Hardware aims at providing innovation, strength, durability, quality, and no-fault warranty. They offer no-touch products to hands-free access control and egress. Hence, increase inventions and innovative designs are expected to contribute to the development of the global door closer and exit devices market.
The following factors are likely to contribute to the growth of the door closer and exit devices market during the forecast period:
• Feature Enhancements and Product Innovations
• Booming Demand in Emerging Economies
• Preference for Integrated Door Closers
• Growth in Real Estate and Construction Market
The study considers the door closer and exit devices market’s present scenario and its market dynamics for the period 2020?2026. It covers a detailed overview of several market growth enablers, restraints, and trends. The report offers both the demand and supply aspects of the market. It profiles and examines leading companies and other prominent ones operating in the market.
Global Door Closer and Exit Devices Market Segmentation
The global door closer and exit devices market research report includes a detailed segmentation by product, end-user, geography. Door closers are relatively familiar products, which are finding adoption in most emerging economies. Favorable government frameworks, stringent building codes, panic and fire emergency policies, the revival of the construction and tourism sector, renovation boom in APAC countries are some of the factors that can accelerate the adoption of door closers in the next five years. In 2020, North America dominated the market and accounted for a market share of 68%. The development of integrated door closers can drive momentum during the coming years as the installation of lightweight and elegant doors is gaining traction. The availability of heavy-duty pneumatic door closers with smother operation is expected to increase the share of hydraulic doors.
The global commercial real estate market experienced rapid growth in 2019, mainly supported by the rising global investments. Commercial real estate mainly refers to retail stores, shopping malls, corporate offices, hotels, restaurants, business parks, and other commercial properties. However, the market witnessed a decline in 2020 owing to the COVID-19 pandemic outbreak. Since door closers constitute an integral part of the hospitality industry, the global hospitality industry’s rapid growth is expected to support the growth of the global door closer market during the forecast period. In the corporate environment, door closers come with improved security, access solutions, and protection features. The increased installation of door closers and exit devices in office buildings, business parks, and workspaces is likely to influence the market growth.
• Door Closer
o Exit Device
o Government Facilities
o Educational Institutes
INSIGHTS BY GEOGRAPHY
The door closer and exit devices market in North America is driven due to the increase in retrofit projects and remodeling of existing commercial and residential units. North America accounts for the largest consumer spending in the world. Changing lifestyles, high socializing, technological development, and innovative designs are mainly driving residential and commercial renovations. Moreover, the increasing employee productivity and satisfaction is triggering remodeling or renovations in the commercial sector. The growth of the tourism industry is also driving renovations in the hotels & hospitality industry. Infrastructural investments in commercial places such as schools, hospitals, hotels, retail stores, and malls are creating the opportunity for the market in North America. However, the impact of the COVID-19 pandemic in 2020 took a dig at the optimistic approach in construction and economic growth. The US economy also shrank at over 32% annual rate between April and June 2020, signifying one of the most significant declines of all time.
• North America
o South Korea
• Latin America
• Middle East & Africa
o Saudi Arabia
INSIGHTS BY VENDORS
Strategic pricing, customized product portfolio, mergers & acquisitions, integration of digital aspects are crucial factors determining vendors’ success in the global door closer and exit devices market. ASSA ABLOY, dormakaba, Allegion, GEZE, and Gretsch-Unitas are a few major vendors operating in the market. ASSA ABLOY introduced innovative features such as CAM-Motion technology, which combines an integrated damping device that allows the door to be closed quietly, safely, and securely at a regulated speed. Several global players are expected to expand their reach in the fast-developing economies in APAC, the Middle East and Africa, and Latin America through mergers and acquisitions during the forecast period.
• ASSA ABLOY
• GEZE Gmbh
Other Prominent Vendors
• Gretsch-Unitas GmbH
• Hager Group
• Lawrence Hardware
• Dynasty Hardware
• Wright Products
• Dorence Industries
• Tell Manufacturing
• Cal-Royal Products
• Oubao Security Technology
• Suzhaou Fuerda Industry Co. Ltd.
• August Bremicker und Sohne KG
• Guangdong Archie Hardware
• C.R. Laurance
• Deltana Enterprises
• Kason Industries
• Detex Corporation
• Thase Enterprise
• Securefast plc
• Hangzhou Guardson Hardware
KEY QUESTIONS ANSWERED
1. How big is the global door closer market?
2. What is the growth rate of the global door closer market
3. Which segments are likely to dominate the door closer and exit devices market share?
4. Which end-user segment is likely to generate the largest revenue during the forecast period?
5. What is the growth of the door closer and exit devices market in North America?
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