« Inpro/Seal Reports Record Sales and Reasons Why | Main | MetoKote, Industry Leader in Protective Coating Applications, Announces New Vice President »
July 23, 2007
Builders' and Cabinet Hardware Market in the United States to Reach US$ 9.4 Billion by 2010, According to New Report by Global Industry Analysts, Inc.
Driven by the upsurge in construction activity, the market for builders' and cabinet hardware in the United States is projected to reach US$ 9.4 billion by the year 2006. The rapidly aging American population is proving to be a lucrative market driver for user friendly, easily operable lever, locks, and door handles. Rising incomes, increased investment in new construction, repair and home improvement, and higher consumer appetite for aesthetically rich, and appealing architectural hardware for windows and doors, are all expected to offer ample opportunities for future growth, and sustenance.
San Jose, California (PRWEB) July 19, 2007 -- Builders' and cabinet hardware market in the United States is presently witnessing the refreshing influence of fashion and style trends. The trend towards coordinated hardware is expected to gather momentum as hardware products metamorphose into decorative accessories, which offer both tough performance functionalities, and ornamental value.
Traditional brass finished products are being eclipsed by the growing popularity of contemporary oil-rubbed bronze, powder coated rusts, coppers, blacks, satin nickels, and distressed brass finishes, among others. While colors, texture, style and design remain important, the basic functionality of safety and durability nevertheless continues to reign supreme. This thereby is leading to numerous technology innovations in the form of multipoint locking systems, electromechanical locks, and digital door locks, among others. With competition heating up, manufacturers are attempting to deflect the heat by offering value- added installation services bundled with the product.
The industry has come a long way from the year 1991 when market value for builders' and cabinet hardware was pegged at US$ 3.35 billion as stated by Global Industry Analysts, Inc. Today, builders' hardware market corners over 93% of the total market in the United States, with door locking devices ranking as the dominant product sub-segment in this market. Enthused by technology innovation, the door locking devices market is expected to be the fastest growing, mirroring the potential to wax at a CAGR of 5.4% over the analysis period of 2001 through 2010. Cabinet locks market, the fastest growing product category within the cabinet hardware market, is expected to rise by US$ 16.3 million between the period 2007 to 2010.
Leading players operating in the industry include Assa Abloy AB, Medeco, SARGENT Manufacturing Company, Black & Decker Corporation, Masco Corporation, DORMA GmbH & Co. KG, Hickory Hardware, Ingersoll-Rand Company Limited, Kaba Holding AG, Roto Frank AG, Laird Security Systems, Amesbury Group, Inc, Miwa Lock Co. Ltd, The Stanley Works, and Securistyle, among others.
The report titled "Builders' and Cabinet Hardware: A Global Strategic Business Report" by Global Industry Analysts, Inc., provides a comprehensive review of trends, market drivers, issues, and challenges prevalent in the global market. Richly annotated with authoritative, and unbiased commentaries, and hard-to-find statistical facts, the report provides unequivocal views on future potential while throwing light on the prevailing climate in key product segments in the United States. Product markets analyzed in the report include Builders' Hardware (Door Locking Devices, Door Hinges and Closers, and Window Hardware), Cabinet Hardware (Cabinet Locks, Cabinet Knobs, Pulls and Catches, and Cabinet Hinges). Latent demand patterns in the United States are quantified across all product markets. Also provided in the report is an enumeration of recent mergers, acquisitions, and other strategic industry activities.
For more details about this research report, please visit www.strategyr.com/MCP-1144.asp.
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world's largest market research publishers. The company employs more than 700 people worldwide and publishes more than 880 full-scale research reports each year. Additionally, the company also offers a range of more than 60,000 smaller research products including company reports, market trend reports and industry reports encompassing all major industries worldwide.
Global Industry Analysts, Inc.
Telephone 408-528-9966
Fax 408-528-9977
Web Site www.StrategyR.com
Posted by Industrial-Manufacturing at July 23, 2007 06:08 AM