Grab handle is a kind of attached object which is used to manually open or close a door. It is used in residential doors and cars. The industry has seen diversification in the form of product type by material, advancement by technology, and moderation in size. There is an increase in the demand for attractive and designed handles with the rise in disposable income and improvement in the product utility. This boosts the growth of the market.
Market scope and structure analysis:
|Market size available for years||2020–2027|
|Base year considered||2019|
|Forecast units||Value ($US)|
|Segments covered||Type, Application, Distribution Channel, Industry Vertical, and Region|
|Regions covered||North America (U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Malaysia, Thailand, Indonesia, and Rest of Asia-Pacific), LAMEA (Middle East, Brazil, and Rest of LAMEA)|
|Companies covered||Hoppe, Hafele, Seleco, Sobinco, Emtek, Assa Abloy, Allegion, Kwikset, ZOO, DND, Baldwin, Kuriki.|
COVID-19 Scenario Analysis:
Production shutdown scenario
The manufacturing processes for the grab handles have been shut down owing to the implications of COVID-19 and this declined revenue for the industry, resultant of lack of production and sale of the product.
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Supply chain disruptions
The supply chains for raw materials and the distribution channels for finished products have been disrupted due to lack of transportation, whether regional or global. This brought a downward surge in revenue for the industry due to the mismatch in demand and supply.
Top Impacting Factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
Grab handles have always held a distinct position in the market of consumer goods and durables. These are used in residential and commercial areas as house door handles, room door handles, automotive door handles, and others. Their vast application in the grab handles market has a plethora of opportunities in the fields of innovation and technological advancements. However, the lack of technical knowledge may hamper the growth potential of market players. The market is encountering change in consumer preferences for material type of the product and this drives the global grab handles market to modify the exiting products and bring innovation.
The global grab handles market trends are as follows:
New product launches to flourish the market
Grab handles are the objects that are used to pull or take support. These have been widely used in residential applications and automotive sectors. The demand in residential sector changes with dynamic consumer preferences for distinct materials, and the automotive sector tends to follow certain trends and predefined standards of car handles.
Diversification in distribution channel
The distribution channels for finished products play a significant role in reaching the consumers and making a business success. Grab handles being a basic consumer utility product is ought to be delivered to consumers at their convenience. This is certainly a part of marketing strategy of manufactures that lets them achieve an upper edge over competitors.
These grab handles can be purchased from the aftermarkets where the spare parts are available. These instigate the customers to directly make a purchase from reliable and authorized dealers. The online channels of distribution also prevail in the market and offer mass reach opportunities to the marketers. This boosts the global demand for grab handles in the market.
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Key Segments Covered:
Key Benefits of the Report:
- This study presents the analytical depiction of the global grab handles industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global grab handles market share.
- The current market is quantitatively analyzed from 2020 to 2027 to highlight the global grab handles market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global grab handles market analysis based on competitive intensity and how the competition will take shape in the coming years.
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