Door Closers Market to Reach Revenues of $3 Billion During the Period 2018−2024 - Market Research by Arizton

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May 09, 2019, 11:00 ET

CHICAGO, May 9, 2019 /PRNewswire/ -- According to Arizton's recent research report, the global door closers market is likely to reach revenues of over $3 billionby 2024, growing at a CAGR of over 4% during 2018−2024.

Key Highlights Offered in the Report:

The emerging market to offer high potential for door closers during the forecast period. The mature markets -North America and Western Europe- are likely to gain more demand due to product innovations and sustainable manufacturing practices in door closer hardware
The volume of the global construction output is expected to grow by 85% to reach $15.5 trillion by 2030. India, China, and the US are expected to account for 57% share of the global construction output. This is likely to boost the global door closers market significantly.
In terms of product types, mechanical door closers accounted for the largest market share of more than 62% in 2018. Similarly, the electromechanical door closers segment is expected to grow rapidly at a CAGR more than 3 % during the forecast period.
APAC is expected to be the fastest growing market for mechanical door closers,growing at a CAGR of 4.48% during the forecast period. Also, the electromechanical door closers segment is also expected to grow at a CAGR of 4.86% during 2018–2024.
Rapid infrastructure developments and the rising number of construction projects are primarily driving both the mechanical and electromechanical door closers markets in the APAC region.
Hungary is expected to be the fastest growing market for construction output in Europe, with an expected growth rate of 12% per annum. Other markets such as Portugal, Ireland, and Poland are projected to grow at more than 7–8%. However, the construction growth in Finland, Germany, and Sweden is expected to decline in the next few years.
The rapid expansion of commercial buildings such as corporate offices, business parks, and retail stores in the emerging markets such as China, India, Singapore, Indonesia, the UAE, and Saudi Arabia, will mainly drive the market for floor spring door closers during the forecast period
Some of the major commercial property construction markets include the US, Canada, China, Brazil, Germany, the UK, Australia, Hong Kong, Japan, and Singapore. The expansion of commercial properties will inevitably fuel the demand for basic amenities such as door closers.

Key Offerings:

Market Size & Forecast by Revenue| 2018−2024
Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
Market Segmentation –A detailed analysis by product types,operations, pressure-types, end-users, and geography.
Competitive Landscape – Profile of 5 key vendors and 20 othervendors.

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Door Closer Market– Segmentation

This market research report includes a detailed market segmentation by product types, operations, pressure types, end-users, and geography.

The hydraulic door closerssegment dominated the door closers market with a market share of over 50% in 2018.
The commercial segment accounted for a market share of over 80% in 2018. The door closers market by government institutions and educational institutes constituted a combined market share of over 12% in 2018.

Market Segmentation by Product Types

Mechanical
Electromechanical

Market Segmentation by Pressure Types

Hydraulic
Pneumatic

Market Segmentation by Operations

Overhead
Floor Spring
Integrated

Market Segmentation by End-users

Commercial
Residential

Door Closer Market – Dynamics

The door closers market is mainly driven by the rise of new buildings and the increase in refurbished projects. Door closers enhance security and can provide protection from fire. They can also help in maintaining cooler temperatures by preventing the cooler air to vent out from the room.

Key Drivers and Trends fueling the Growth of the Global Market:

Growth of Travel and Tourism Industry
Rising Demand for Concealed Door Closers
Increasing Construction of Commercial Real Estate

Door Closer Market –Geography

In 2018, North America accounted for the largest market for concealed door closers with over 40% market share. The introduction of innovative products is mainly driving the market for integrated door closers in Europe and North America.

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Market Segmentation by Geography

APAC

Australia
China
India

Europe

Germany
France
UK

North America

US
Canada

Latin America

Brazil
Mexico

Saudi Arabia
UAE

Major Vendors:

ASSA ABLOY
DORMAKABA
Allegion
Gezegmbh
Gretsch-Unitas (G-U)

Other vendors include Hager Group, Dom, ISEO, Lawrence Hardware Inc, Dynasty Hardware, Wright Products, Dorence Industries, Tell Manufacturing, Cal-Royal, Godrej, Oubao Security Technology, SUZHOU FUERDA INDUSTRY CO., LTD., ABUS, Guangdong Archie Hardware, C.R. Laurance, Deltana enterprises Inc., Kason Hardware Inc., Rejunevation Inc, Prime-line, and Ryobi.

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About Arizton:

Arizton – Advisory and Intelligence is a premium and innovation-driven firm, which offers cutting-edge research solutions to clients across the world. We excel in providing comprehensive market intelligence reports and advisory and consulting services.

We offer comprehensive market research reports on industries such as consumer goods & retail technology, automotive and mobility, smart tech, healthcare, and life sciences, industrial machinery, chemicals and materials, IT and media, logistics and packaging. These reports contain detailed industry analysis, market size, share, growth drivers, and trend forecasts.

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SOURCE Arizton Advisory & Intelligence