The latest market report published by Credence Research, Inc. “Global Door Closer and Exit Devices Market: Growth, Future Prospects, and Competitive Analysis, 2016 – 2028”. The global Door Closer and Exit Devices market is anticipated to grow at a substantial CAGR of 5.00% in the upcoming years. The global Door Closer and Exit Devices industry was estimated to be worth USD 4.1 billion in 2022 and was expected to be worth USD 5.76 billion by 2030.
Door Closer and Exit Devices Market refers to the industry involved with the production, distribution, and sales of door closer systems and exit devices. Both of these items are critical for managing access and ensuring safety in a variety of settings, such as commercial, industrial, and residential buildings. Market for these products includes manufacturers of the devices, distributors, retailers, construction companies, architects, building owners, and more. Factors that influence the growth of this market include construction trends, regulations related to building safety and accessibility, technological advancements in product design and functionality, and economic conditions affecting building construction and renovation activities.
North America’s door closer and exit device market was the largest. The demand for door closers in the area is primarily driven by rapid economic growth, the opening of new enterprises, corporate expansions, and increased construction activity. New products from major companies in established areas like North America and Europe fuel growth.
The global Door Closer and Exit Devices Market is bifurcated into Types, Application and Geography. Based on Types the market is categorized into Door Closer, Pressure, Operation, Exit Device & Design. Based on Application the market is categorized into Commercial & Residential. Based on geography, the market is categorized as North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Door Closer and Exit Devices Market Drivers are the factors that are responsible for the growth of this particular market. The increasing demand for door closers and exit devices from various end-user industries such as commercial, residential, industrial, healthcare, education, hospitality among others is one of the major drivers of this market. With the growing concern about safety and security in public places like schools, hospitals and other institutions have led to an increased adoption of exit devices which ensures easy evacuation during emergencies. Additionally, technological advancements in door closer systems have resulted in innovative products with features like adjustable closing speed and backcheck control mechanism further driving growth in this industry.
Door Closer and Exit Devices Market Top Report Findings:
- Market Growth: The door closer and exit devices market has been witnessing steady growth due to increasing construction activities, stringent safety regulations, and growing emphasis on building security. Door closers and exit devices are crucial components of commercial, institutional, and residential buildings to ensure controlled access, fire safety, and smooth door operations.
- Demand for Safety and Security: Safety and security concerns have driven the demand for door closers and exit devices. These devices offer controlled access, prevent unauthorized entry, and facilitate emergency egress during fire or other emergencies. The market has seen increased adoption of panic bars, exit devices, and electronic access control systems to enhance building security.
- Fire Safety Compliance: Compliance with fire safety regulations has been a significant driver for the door closer and exit devices market. Exit devices and fire-rated door closers play a crucial role in ensuring safe and efficient evacuation during fire emergencies. Building codes and regulations mandate the installation of fire-rated door hardware in commercial and public buildings.
- Technological Advancements: The market has witnessed technological advancements in door closer and exit device technologies. These include the development of advanced electromechanical door closers, wireless access control systems, and integration with building automation systems. Smart and connected solutions are gaining traction, allowing for remote monitoring, access control, and data analytics.
- Energy Efficiency and Sustainability: Energy efficiency and sustainability have become important considerations in the door closer and exit devices market. Manufacturers are introducing energy-efficient door closers with adjustable closing forces, low power consumption, and eco-friendly materials. Green building certifications and sustainability initiatives have contributed to the adoption of energy-efficient and environmentally friendly door hardware solutions.
- Retrofit and Replacement Opportunities: The retrofit and replacement market for door closers and exit devices is significant. Aging infrastructure and the need to upgrade to modern safety standards have created opportunities for retrofit projects. Upgrading older buildings with new door closers and exit devices improves functionality, security, and fire safety.
- Market Consolidation and Competitive Landscape: The door closer and exit devices market is characterized by the presence of established manufacturers and a competitive landscape. Market players are focusing on product innovation, strategic partnerships, and mergers and acquisitions to strengthen their market position and expand their product portfolios.
- Market Segmentation: The market is segmented based on product types, including door closers, exit devices, panic bars, and others. Additionally, the market is divided by end-use sectors such as commercial buildings, institutional buildings, industrial buildings, and residential buildings.
Why to Buy This Report-
- The report provides a qualitative as well as quantitative analysis of the global Door Closer and Exit Devices Market by segments, current trends, drivers, restraints, opportunities, challenges, and market dynamics with the historical period from 2016-2020, the base year- 2021, and the projection period 2022-2028.
- The report includes information on the competitive landscape, such as how the market’s top competitors operate at the global, regional, and country levels.
- In-depth analysis of the global market segmentation on the basis of Types and Application
- Major nations in each region with their import/export statistics
- The global Door Closer and Exit Devices Market report also includes the analysis of the market at a global, regional, and country-level along with key market trends, major players analysis, market growth strategies, and key application areas.
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