Global Door Closer and Exit Device Market Grows Steadily at a CAGR of 4.25%

Introduction

Doors have traditionally been a common feature in both residential and non-residential buildings, such as commercial and industrial constructions. The bulk of conventional doors consist of glass panes affixed to wooden or metal frames. The primary materials used for interior doors are wood, plastic, and glass, whereas exterior and exit doors are often constructed from hardwood, metal, and fiberglass. In a residential building, a door is required for every room. On the other hand, there are usually a lot of entrances in business buildings. Hence, it is imperative to have efficient evacuation mechanisms for fire and emergency doors in commercial premises.

Market Dynamics

Feature Enhancements and Product Innovations Drive the Global Market

The retail and consumer products industry requires continuous innovation to adapt to evolving market demands. Key market participants allocate annual investments to research and develop novel goods and features. The continuous advancements stimulate market expansion by enhancing the need for efficient products with superior technical attributes. The dominant participants in the market have also been incorporating state-of-the-art characteristics to keep pace with changing regulations and consumer demands, hence driving the industry's growth. As an illustration, the British government requires all commercial establishments to adhere to the building rules and Approved Document M and BS8300, which establish the criteria for closing and opening force.

Growing Real Estate and Construction Creates Tremendous Opportunities

The growth of commercial infrastructure, encompassing office buildings, shopping malls, and retail spaces, is expected to drive the rise of the global door closer sector. The majority of commercial venues utilize cutting-edge infrastructure and technologies to enhance the visual appeal of the space and guarantee optimal levels of comfort and security. It is estimated that by 2030, the global construction output will surpass USD 15.2 trillion, representing a growth of almost 80% compared to its 2018 level.

Furthermore, the expansion of the global construction market is predominantly driven by the economic resurgence of wealthy nations and the increasing industrialization in developing nations. Moreover, India's building output is experiencing significant growth due to the increasing urban population. As of 2020, the urban population in India was forecast to be above 35%, and it is projected to increase to 50% by 2050.

 

Regional Analysis

North America is the most significant global door closer and exit device market shareholder and is anticipated to exhibit a CAGR of 3.30% during the forecast period. The construction sector in the United States is experiencing a steady increase due to the country's expanding population and urban development. There has been a substantial rise in the demand for both single-family and multifamily buildings in recent years. The non-residential construction industry is expected to experience growth due to the ongoing building of various commercial facilities such as retail, manufacturing units, warehouses, offices, institutions, and hotels. The growth of the manufacturing and hospitality industries in the US is expected to drive the construction of new commercial buildings.

Furthermore, the development of buildings is also influenced by the presence of offices, hotels, institutions, and business centers. In 2019, the non-residential contracts were anticipated to exceed 900 million square feet. Furthermore, the United States boasts a plethora of vast commercial real estate properties, encompassing hotels, corporate hubs, retail complexes, and other colossal retail establishments. The rising number of buildings in the US is anticipated to raise the demand for door closers and exit devices.

Key Highlights

• The global door closer and exit market was valued at USD 3.81 billion in 2022. It is estimated to reach USD 5.54 billion by 2031, growing at a CAGR of 4.25% during the forecast period (2023–2031).

Door Closer

• Based on type, the market is bifurcated into mechanical and electromechanical. The mechanical segment dominates the global market and is projected to exhibit a CAGR of 3.25% over the forecast period.
• Based on pressure, the market is divided into hydraulic and pneumatic. The hydraulic segment is the largest revenue contributor to the market and is expected to exhibit a CAGR of 3.28% throughout the forecast period.
• Based on operation, the global door closer and exit device market is segmented into integrated, floor spring, and overhead. The overhead segment owns the highest market share and is estimated to exhibit a CAGR of 3.32% during the forecast period.

Exit Devices

• Based on type, the market is segmented into the rim, vertical rods, mortise, and mullion. The rim segment owns the highest market share and is estimated to exhibit a CAGR of 5.58% during the forecast period.
• Based on the design, the market is segmented into touch bar, crossbar, and integral. The touch bar segment dominates the global market and is expected to exhibit a CAGR of 5.47% during the forecast period.
• Based on end-users, the market is segmented into commercial (hospitality, corporates, educational institutes, healthcare, government facilities, and others) and residential. The commercial segment owns the highest market share and is estimated to exhibit a CAGR of 4.12% during the forecast period.
• North America is the most significant global door closer and exit device market shareholder and is anticipated to exhibit a CAGR of 3.30% during the forecast period.

Competitive Players

Competitive Players

The key global door closer and exit device market players are Assa Abloy, Allegion, Dormakaba, Geze GMBH, ISEO, Hager Group, Dom, Dynasty Hardware, Dorence Industries, and Tell Manufacturing. 

Recent Developments

Market News

• In July 2023, ASSA ABLOY announced its intention to, through its subsidiary HID Global SAS ("HID"), and subject to certain customary and regulatory conditions, purchase approximately 98.5 percent of the shares of EVOLIS S.A. ("Evolis" or the "Company"), a Euronext Growth company listed in Paris and a leading French manufacturer of ID card printers and consumables.
• In June 2023, ASSA ABLOY completed the acquisition of Spectrum Brands' Hardware and Home Improvement division ("HHI") and the divestment of Emtek and the Smart Residential business in the U.S. and Canada to Fortune Brands.

Segmentation

Global Door Closer and Exit Device Market: Segmentation

By Door Closer Type

• Mechanical
• Electromechanical

By Door Closer Pressure

• Hydraulic
• Pneumatic

By Door Closer Operation

• Overhead
• Floor Spring
• Integrated

By Exit Device Type

• Rim
• Vertical Rods
• Mortise
• Mullion

By Exit Device Design

• Touch Bar
• Crossbar
• Integral

By End User

• Commercial
  • Hospitality
  • Corporates
  • Healthcare
  • Government Facilities
  • Educational Institutes
  • Others
• Residential

By Regions

• North America 
• Europe
• Asia-Pacific
• Latin America 
• The Middle East and Africa