Technavio, a tech-focused market research firm, has published a new report on the global door closer market, which is expected to grow at a CAGR of more than 4% during the forecast period, 2017-2021.
Based on geographical segmentation, Technavio market researchers categorize the global door closer market into the following key regions: the Americas, APAC, and EMEA.
Source: Technavio
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Top three contributors for the global door closer market are elaborated below
Door closer market in APAC: The growth of the door closer market in APAC is dominated by emerging economies such as India and China. Factors such as the growth of the hospitality industry, infrastructural development, and technological advancements are anticipated to reflect positively on demand for door stoppers in APAC during the forecast period.
According to Abhay Sinha, a lead analyst at Technavio, “Countries like India, Singapore, Taiwan, and South Korea have been identified as prime locations for investments from Western multinational companies, particularly in the field of technology and healthcare, thereby driving the market in the region.”
Door stopper market in EMEA: The Middle East and Europe are among the popular holiday destinations, which, in turn, has seen an increase in spas, villas, resorts, and hotels and subsequently, the demand for door stoppers. The growth of the door stopper market in EMEA during the forecast period is likely to be facilitated by growing investments in infrastructure, stability in economic conditions, and investment in tourism and education across the region.
Door stopper market in the Americas: The projected rise in demand for hi-tech solutions in the residential and commercial sector will be the driving force behind the door stopper market in the Americas. The US is likely to emerge as the key revenue contributor in this region by 2021.
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The top vendors operating in the global door closer market are:
- DORMA
- GEZE
- Stanley Security Solutions
- Yale
Other prominent vendors in the market include Cal-Royal Products, Allegion, Oubao Security Technology, Suzhou Fuerda Industry, and ABUS.
A more detailed analysis is available in the Technavio report titled, ‘Global Door Closer Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Automotive Soft-close Door Market 2017-2021
- Global Automatic Door Market 2016-2020
- Global Smart Home M2M Market 2016-2020
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