Increased disposable income, smart strategic marketing activities, changing consumer preferences, and a shift in customer preferences from ornate fittings to contemporary patterns all have a positive impact on the lever handles market. Furthermore, the availability of trendy products with modified and improved designs, patterns, and materials expands profitable opportunities for market players from 2022 to 2029. FMCG manufacturers are responding to the desire for convenience in a variety of ways. For instance, some are improving on the frozen "TV dinners" and microwaveable dishes of yesteryear by introducing a broader range of easy-to-prepare meals that are fresher and better-tasting than their predecessors. Simultaneously, a growing number of new food and drink products that are conveniently packaged, all-in-one meal replacements, such as Vega bars and Soylent drink powder, are available.
According to Data Bridge Market Research the Lever Handles Market is expected to grow with a CAGR of 12.6% in the forecast period of 2022 to 2029.
“Rise in residential and commercial construction to Facilitate Market Growth”
The rise in residential and commercial construction due to rapid urbanization and industrialization, as well as an increase in consumer traction due to their frequent purchases to keep up with the latest trends, drive market growth. Increased consumer spending on home remodeling and interior fittings, as well as increased consumer awareness about product durability, extended warranty, security level, and smooth operation, among other factors, all have an impact on the market.
What restraints the growth of Lever Handles Market?
“Consumer habits are changing”
Lockdown restrictions and social isolation have resulted in a shift in shopping habits. Consumers have reduced the frequency of their shopping trips to avoid public places and increased the average basket size. With less foot traffic in physical stores, the level of impulse buying has decreased. Furthermore, Covid-19 has had a negative impact on average household disposable income, resulting in consumers trading down to less expensive products and seeking value-for-money products.
“High cost of Equipment”
The high cost of the equipment is expected to hamper the market growth. In the forecast period of 2022-2029, low awareness is expected to pose a challenge to the lever handles market.
Segmentation: Lever Handles Market
The lever handles market is segmented on the basis of type and application.
- On the basis of type, the lever handles market is segmented into steel, aluminium, metal, wood, plastics, and others.
- On the basis of application, the lever handles market is segmented into residential, commercial, institution and government and industrial.
Regional Insights: Europe is expected to dominate the Lever Handles Market
Europe is expected to dominate the market because of the infrastructural development in the region. Rising product adoption in manufacturing facilities and homes in countries such as Germany, the United Kingdom, France, Italy, and Russia, among others.
In addition, the Asia-Pacific region is likely to register highest growth rate during the forecast period of 2022 to 2029 because of the rising establishment of residential and commercial infrastructures within the region. Rapid industrialization, combined with increased construction activity in emerging economies such as China and India, will drive industry growth over the next eight years. Furthermore, rising population and increased spending on consumer goods such as home appliances will boost regional growth in the coming years.
To know more about the study visit, https://www.databridgemarketresearch.com/reports/global-lever-handles-market
Recent Developments in Lever Handles Market
- In 2019, Allgood announced the release of solid cast brass levers and pull handles designed to provide excellent performance, durability, and elegant styling. The company will enter the global market with its innovative products.
The Prominent Key Players Operating in the Lever Handles Market Include:
- Dorset Industries Pvt Ltd (India)
- YAMA Steel India (India)
- Pag International Pvt. Ltd. (India)
- Architonic (Switzerland)
- Madhuli Exim Private Limited. (India)
- Perfect Engineering Works (India)
- Häfele (U.S.)
- VEENA POLYMERS (India)
- Sarthi Steel Industries (India)
- Schlage (U.S.)
- GEZE India Private Ltd. (India)
- dormakaba Group (Switzerland)
- Cass Brothers (Australia)
Above are the key players covered in the report, to know about more and exhaustive list of lever handles market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Lever Handles Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
