Dublin, July 06, 2023 (GLOBE NEWSWIRE) -- The "Door Closer and Exit Devices Market - Global Outlook & Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The global door closer and exit market is expected reach$4.76 billion by 2028 from $3.61 billion in 2022 to grow at a CAGR of over 4.5% from 2022-2028.
Market Trends and Drivers
Rising Awareness Of Security And Privacy Requirements
In recent years, there has been a rising awareness of security and privacy requirements concerning advanced door closers and exit devices.
As businesses and organizations highly depend on technology to secure their premises, there is a growing need for solutions that provide advanced security features while maintaining user privacy.
Finally, there is a growing focus on user experience and accessibility in designing door closers and exit devices. These devices must be easy to use and accessible for people of all abilities while providing high security and protection against unauthorized access. Manufacturers are increasingly incorporating features such as touchless entry and adjustable settings to improve the user experience.
Policies Supporting Residential Boom
Door closers can protect in case of fire or smoke by preventing it from spreading. It can also provide enhanced security and improve the overall aesthetics of the space. Door closers can also help to maintain cooler temperatures by preventing the cooler air from venting out of the room.
Door closers are increasingly finding a place in modern home decor. Moreover, the rising security requirements and demand for modern equipment drive the need for door closers.
Thus, the rising number of modern residential spaces, renovations, and home improvements are the primary drivers for adopting residential door closers. Governments worldwide are implementing policies to support the construction of residential units globally to meet the growing housing demand.
Market Segmentation
by Product
The global door closer and exit devices market is dominated by the demand for door closer. The demand for door closer is expected to witness the highest growth during the forecast period owing to the development of integrated door closer as the installation of lightweight and elegant doors is witnessing traction.
The door closer market is further segmented into door type (mechanical and electromechanical), pressure type (hydraulic and pneumatic), and operation type (overhead, floor spring, and integrated). Apart from door closer, demand for exit devices is also anticipated to witness significant growth between 2023-2028.
The exit devices are segmented into type (rim, vertical rods, mortise, mullion) and design (touch bar, crossbar, and integral). With the majority of the door closer vendors operating in the exit device segment, the scope remains more optimistic for growth that can encourage the emergence of new vendors, thereby intensifying the competitive level in the market.
by Door Type
In 2022, the global door closer market was dominated by mechanical, holding almost 61% share in the market. The electromechanical door operators incorporate door-closing technology with electromechanical or electrohydraulic power. These electronic operators and control systems are highly efficient and can reduce the need for frequent door opening and closing.
Moreover, rapid infrastructure development and the rising number of construction projects in the developing countries of APAC are boosting the market for automatic door closer in the region.
by Exit Device Type
In 2022, the exit device type market was dominated by rim-type exit devices for over 43% market share. This can be majorly attributed to vendors capitalizing on the growing device technology, consisting of deadbolt latching on top of the strike, thereby reducing the space between the strike and the bolt.
In addition, vertical rods are also common in multi-point latching techniques alongside rim devices. The durable lock system and installation method paved the way for adopting the single door. The demand for aesthetics and architecture drives the market for concealed vertical rods.
by End-user
Regarding end-user, the door closer and exit devices market has been broadly classified into commercial and residential. The market has been dominated by commercial accounting for more than 84.5% market share. In multi-housing complexes, it is mandatory to implement door closers and exit devices in fire doors.
The expansion of multi-housing facilities would also drive the segment market during the forecast period.
However, even though commercial end-users currently dominate the market, demand for door closer and exit devices in the residential sector is expected to witness a CAGR of almost 5%. The building codes, fire emergency frameworks, and domestic guidelines for safety are expected to drive the market in the residential segment.
Competitive Landscape
The global door closer and exit devices market is highly competitive, with many public and private companies. These vendors typically compete on key parameters such as product design, quality, reliability, support services, and price. The rapid technological advancements adversely impact the market vendors as consumers expect continuous innovations and product upgrades.
Prominent Vendors
- ASSA ABLOY
- Allegion
- Dormakaba
- GEZE Gmbh
- ISEO
Other Prominent Vendors
- Gretsch-Unitas (G-U) GmbH
- Hager Group
- DOM
- Lawrence Hardware
- Dynasty Hardware
- Wright Products
- Dorence Industries
- Tell Manufacturing
- Cal-Royal Products
- Godrej
- Oubao Security Technology
- Suzhaou Fuerda Industry Co. Ltd.
- August Bremicker und Sohne KG (ABUS)
- Guangdong Archie Hardware
- C.R. Laurance
- Deltana Enterprises
- Kason Industries
- Rejuvenation
- Prime-Line
- Ryobi
- Detex Corporation
- Thase Enterprise
- Securefast plc
- Hangzhou Guardson Hardware
- Fapim
- Beacon Commercial Door & Lock
- Tong Lung Metal-EZSET
- Kaizon Hardware
- Ozone
- Kich Architectural Products
- Brinks Commercial (Hampton Products International)
- Zhejiang Dorrenhaus Hardware Industry
- Sugatsune
- I-TEK Metal Manufacturing
- Hettich Holding
Key Questions Answered:
What will be the Door Closer and Exit Devices Market Size in 2028?
2. What is the growth rate of the Door Closer and Exit Devices market?
3. Who are the key players in the Door Closer and Exit Devices market?
4. Which region is projected to have the highest growth rate during the forecast period?
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 466 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $3.61 Billion |
| Forecasted Market Value (USD) by 2028 | $4.76 Billion |
| Compound Annual Growth Rate | 4.7% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/dt85u8
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