DOOR CLOSER INDUSTRY INSIGHTS
The global door closer market size was valued at USD 3.51 billion in 2020 and is expected to reach USD 5 billion, growing at a CAGR of around 4% 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.
- Pneumatic door closers are expected to pose an absolute growth of 27% during the forecast period.
- Door closers are expected to touch revenue of USD 3 billion by 2026 because of the implementation of stringent building codes and panic & fire emergency policies.
- The demand for concealed or integrated door closers has been increasing rapidly in the global market.
- The global integral exit devices market is expected to observe an absolute growth of 44% due to the increasing application in retrofit projects.
- The commercial door closer and exit devices market share is expected to reach a revenue of approx. USD 4 billion by 2026.
- APAC is expected to grow at the fastest CAGR during the forecast period due to the significant revival of the construction industry post-COVID-19 pandemic.
- The COVID-19 pandemic has been significantly affected the market since Q1 and Q2, 2020, due to lockdowns and restrictions. However, the momentum for touchless solutions and door hardware is expected to propel as the pandemic has implemented the importance of automation and digitalization.
GLOBAL DOOR CLOSER AND EXIT DEVICES MARKET SEGMENTATION
This research report includes a detailed segmentation by
INSIGHTS BY PRODUCT
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.
North America was the largest market for mechanical & electromechanical door closers with a share of over 35% and 36%, respectively, in 2020. However, due to rapid infrastructure development and the rising number of construction projects, the APAC mechanical door closers market is expected to grow at the highest CAGR during the forecast period. Electromechanical doors accounted for over 38% share of the global door closer market in 2020. However, the market is expected to grow significantly as these provide convenience and ease of usage. Most electromechanical instruments assist both in opening and closing.
- Insights by Pressure Type
Hydraulic door closers dominated the market with a share of over 57% in 2020 and are expected to retain their dominance during the forecast period. Pneumatic door closers, although less popular, are expected to pose an absolute growth of over 27% during the forecast period. North America dominated the market for hydraulic door closers with a share of approx. 37% in 2020. The growth of commercial real estate is driving the demand for hydraulic door closers in the region. APAC is likely to be the fastest growing market with a CAGR of over 5% during the forecast period. The rapid increase in the construction of commercial and residential facilities, especially in China and India, is expected to support the market growth.
Rim exit devices are the most deployed panic bars across the globe and accounted for approx. 44% of the total share in 2020. North America and Europe dominated the segment with shares of 35% and 32%, respectively. The installation of double doors in large commercial spaces is increasing the significance of vertical rod devices. Vertical rods are standard in multi-point latching techniques alongside rim devices. Durable lock systems and the installation method have increased the adoption. The demand for aesthetics and architecture is driving the market for concealed vertical rods in the market. APAC is expected to generate incremental revenue of approx. $41 million in the vertical rod segment, whereas the Middle East and Africa, is expected to grow at a CAGR of 7% during the forecast period. Mortises, which accounted for over 19% in 2020, are witnessing installation in heavy-duty exit devices. It is expected to grow at a CAGR of 6% during the forecast period. Although they have offered unique benefits, the requirement for a greater passage and additional cost factors limit the adoption of mullions in 2020. However, the demand for mullions can remain optimistic with the growth in double door installations across the globe.
INSIGHTS BY END-USER
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.
The growth of multi-family housing facilities and apartments with high security and access facilities is a significant driver for the residential doors and exit devices market. Similarly, the scope of exit devices is more prominent in large apartments and dwellings where regulations back up emergency excavation. However, the lack of infrastructure and awareness is a barrier to growth, especially in emerging markets.
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.
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 (GU) 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.
The global door closer and exit devices market research report includes in-depth coverage of the industry analysis with revenue and forecast insights for the following segments:
- Door Closer
- Floor Spring
- Exit Devices
- Vertical Rods
- Touch Bar
- Government Facilities
- Educational Institutes
- North America
- South Korea
- Latin America
- Middle East & Africa