Builder Hardware Market Size was valued at USD 44.5 billion in 2022. The Builder Hardware industry is projected to grow from USD47.08545 Billion in 2023 to USD 73.97763454 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.81% during the forecast period (2023 - 2032). Increased industrialization and urbanization Fluctuating raw material prices may limit the key market drivers enhancing the market growth. 
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Renovation activities have rapidly increased in household and commercial sectors; with the change in lifestyle of people and the rise in disposable income of consumers, people have started spending more on the ambiance of houses and commercial places. Builders and cabinet hardware play a vital role in redesigning houses and commercial places as it helps to enhance the appearance of space; all interiors designer use builders and cabinet hardware material for designing and proper tuning of doors, windows, and cabinet accessories with the interior of rooms. Increasing renovation activities among household and commercial sectors is an utmost factor fuelling the growth of the builders and cabinets market CAGR.
Additionally, the Rapid rise in population is ly influencing the demand for infrastructure facilities. The growing population has resulted in better infrastructure facilities for hospitals, educational institutions, mega marts, and other development projects. The government is also playing a significant role by contributing to the development of infrastructure facilities as they are spending huge amounts on the construction of hospitals, government offices, and educational institutes. Brisk in development projects is ly boosting the demand for builders and cabinet hardware elements that are widely used in construction industries; the growing requirement for infrastructure development projects is a prime factor in the growth of the builder and cabinet hardware market. Builders and cabinet hardware are widely used in manufacturing furniture sets and other products as it helps in manufacturing portable and compact furniture. With the rise in nuclear families and construction of compact homes propelling demand for company furniture, hardware materials such as brass and steel hinge are majorly used in portable furniture. The growing requirement of builders and cabinet hardware materials in different industries is a significant factor in builders and cabinet hardware growth.
Furthermore, People have started moving from backward areas to urban areas in search of better health care, transportation, and educational facilities, with the rise in rapid urbanization of people resulting in a rapid incline in demand for residential shelters. Many builders and realtors are coming up with huge residential development projects to cater to the demand for residential shelters; they are the major user of builders and cabinet hardware such as door handles and knobs, plumbing accessories, and cabinet hardware material. Modern builders are offering smart homes ready to move in position and using stylish and innovative hardware accessories to make homes stylish and attractive. The rapid development of residential projects is a key driver in the builders and cabinets hardware market growth. Thus, driving the Builder Hardware market revenue.
The Builder Hardware market segmentation, based on type includes Cabinet Hardware, Doors, Hardware, Windows Hardware, Plumbing Hardware, and others. The cabinet hardware segment dominated the market;The cabinet hardware segment is projected to gain a significant market share in the forecast period. It encompasses various components like knobs, latches, hinges, and fasteners essential in cabinet construction. The increasing number of construction activities and projects is expected to boost the demand for cabinet hardware, driving the growth of this market segment.
Based on application, the Builder Hardware market segmentation includes residential and non-residential. The residential segment dominated the market; The residential segment is anticipated to have a dominant position in the building hardware industry. This is driven by factors such as rapid urbanization in various regions and population growth. However, the non-residential segment is also expected to make a significant contribution to the overall performance of the building hardware industry during the forecast period.
Figure1: Builder Hardware Market, by Application, 2022 & 2032 (USD billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
By Region, the study provides market insights into North America, Europe, Asia-Pacific, and Rest of the World. The Asia-Pacific Builder Hardware Market area will dominate this market due to the fast development and expansion of evolving economies in this region.Moreover, China’s Builder Hardware market held the largest market share, and the Indian Builder Hardware market was the fastest-growing market in the Asia-Pacific region.
Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure2: BUILDER HARDWARE MARKET SHARE BY REGION 2022 (%) 
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Europe Builder Hardware market accounts for the second-largest market share due to the fluctuating raw material prices may limit. Further, the German Builder Hardware market held the largest market share, and the UK Builder Hardware market was the fastest-growing market in the European region
North America is projected to grow at the fastest CAGR from 2023 to 2032. This phenomenon can be attributed to the swift progression of industrialization and urbanization. Further, the US Builder Hardware market held the largest market share, and the Canadian Builder Hardware market was the fastest-growing market in the region.
Leading market players are investing heavily in research and development to expand their product lines, which will help the builder hardware market grow even more. Market participants are also undertaking various strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the Builder Hardware industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the Builder Hardware industry to benefit clients and increase the market sector. The Builder Hardware industry has offered some of the most significant advantages in recent years. Major players in the Builder Hardware market, includingASSA ABLOY (Sweden), Allegion plc (Ireland), Masco Corporation (US), dormakaba Group (Switzerland), Tyman plc (US), Roto (Germany), Siegenia (Germany), GUANGDONG KIN LONG HARDWARE PRODUCTS CO., LTD (China), and Sobinco (Belgium)., and others, are attempting to increase market demand by investing in research and development operations.
Assa Abloy AB, a Swedish conglomerate specializing in locks, doors, gates, and entrance automation, offers many products and services. These include access control systems utilizing keys, cards, tags, mobile devices, and biometric verification for controlling access and confirming identities. Assa Abloy collaborated with Allegion, a provider of security products and solutions, to develop comprehensive access control solutions specifically designed for commercial buildings. ASSA ABLOY and Allegion: ASSA ABLOY, a leading provider of door-opening solutions, collaborated with Allegion, a security products, and solutions provider, to develop integrated access control solutions for commercial buildings.
Stanley Black & Decker, Inc., previously known as The Stanley Works, is a well-established American company that manufactures industrial tools, household hardware, and security products.In a collaborative effort, Stanley Black & Decker joined forces with Schneider Electric, a multinational company specializing in energy management and automation, to create innovative smart home and building automation solutions. This partnership aims to integrate hardware and software technologies, providing advanced and efficient automation systems.
September 2021: ASSA ABLOY and Allegion: ASSA ABLOY, a leading provider of door-opening solutions, collaborated with Allegion, a security products, and solutions provider, to develop integrated access control solutions for commercial buildings.
September 2020:Stanley Black & Decker and Schneider Electric: Stanley Black & Decker, a manufacturer of tools and security solutions, partnered with Schneider Electric, a multinational energy management and automation company, to develop smart home and building automation solutions, integrating hardware and software technologies.
October 2019: Masco Corporation, a prominent manufacturer of building and home improvement products, joined forces with Spectrum Brands, a consumer products company, to create and distribute builder hardware products specifically designed for the residential market. These hardware products encompass a wide range of items such as door locks, handles, and other accessories, catering to the needs of homeowners and enhancing the functionality and aesthetics of residential spaces. This collaboration aims to leverage the expertise and resources of both companies to deliver high-quality and innovative builder hardware solutions.
May 2019: Dormakaba and MIWA Lock Company: Dormakaba, a provider of access control and security solutions, collaborated with MIWA Lock Company, a leading manufacturer of electronic locks, to develop advanced keyless entry systems for the hospitality industry, offering enhanced security and convenience.
| Report Attribute/Metric | Details |
| Market Size2022 | USD 44.5billion |
| Market Size 2023 | USD 47.08545billion |
| Market Size2032 | USD 73.97763 billion |
| Compound Annual Growth Rate (CAGR) | 5.81%(2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Application, and Region |
| Geographies Covered | North America, Europe, AsiaPacific, and the Rest of the World |
| Countries Covered | The U.S., Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | ASSA ABLOY (Sweden), Allegion plc (Ireland), Masco Corporation (US), dormakaba Group (Switzerland), Tyman plc (US), Roto (Germany), Siegenia (Germany), GUANGDONG KIN LONG HARDWARE PRODUCTS CO., LTD (China), and Sobinco (Belgium) |
| Key Market Opportunities | The rapid pace of industrialization and urbanization |
| Key Market Dynamics | Fluctuating raw material prices may limit |
Frequently Asked Questions (FAQ) :
The Builder Hardware market was valued at USD 44.5 Billion in 2022.
The market is estimated to grow at a CAGR of 47.08545 during the forecast period, 2023-2032.
Asia Pacific had the largest share of the market
The major players in the market areASSA ABLOY (Sweden), Allegion plc (Ireland), Masco Corporation (US), dormakaba Group (Switzerland), Tyman plc (US), Roto (Germany), Siegenia (Germany), GUANGDONG KIN LONG HARDWARE PRODUCTS CO., LTD (China), and Sobinco (Belgium).
The Cabinet Hardware Builder Hardware category dominated the market in 2022.
Residentialhad the largest share in the Builder Hardware Market
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