ALBANY, New York, March 20, 2017: A new market intelligence study has recently been added by MarketResearchReports.biz to its vast collection of research reports. The 67-page research study, titled “Global Door Closer Market 2017-2021,” offers a detailed analysis, offering a thorough overview of the factors that are predicted to impact the overall growth of the market in the next few years. In addition, the challenges and limitations being faced by the leading players in the market have been discussed in the scope of the study to offer a strong understanding to readers. According to the research study, the global market for door closer is anticipated to register a 4.0% CAGR between 2017 and 2021.
The robust growth of the commercial real estate market is projected to fuel the growth of the global door closer market in the next few years. In addition, advancements in technology and the emergence of energy-efficient door closers are predicted to accelerate the market’s growth in the near future. On the flip side, the resistance capacity of door closers is anticipated to restrict the growth of the global door closer market in the near future.
On the basis of product type, the global door closer market has been classified into manual door closers and automatic door closers. In 2016, the manual door closers segment led the global door closer market and is expected to remain in the leading position in the next few years. The high growth of this segment can be attributed to the low cost of manual door closers in comparison with automatic door closers. The market size and share of both the segments have been provided in the research report.
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Furthermore, on the basis of end use, the global door closer has been divided into commercial and residential. As per the research report, the commercial segment is estimated to witness a strong growth throughout the forecast period. The rising deployment of security products is one of the key factors anticipated to encourage the growth of the commercial segment in the coming years. In addition, the rising focus of organizations concerning the deployment of fire safety codes at commercial properties and the growth in construction of green buildings are some of the prominent aspects that are likely to supplement the growth of the market in the near future.
The global door closer market is consolidated in nature with the presence of a few members holding a massive share of the overall market. The competition in the market is predicted to get intense throughout the forecast period. Technological advancements and the expansion of the product portfolio are the major factors that are likely to contribute towards the development of the global door closer market in the coming years. Some of the prominent players operating in the door closer market across the globe are GEZE, Yale, Stanley Security Solutions, Allegion, Suzhou Fuerda Industry, Oubao Security Technology, Cal-Royal Products, ABUS, and DORMA.
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