The expansion of the door handle market is being fueled by factors such as rising residential and commercial property or complexes. The expansion of the door handle is aided by the increased production of doors and windows since it is not only employed as a mechanical tool to open and shut the door, but it also contributes to the aesthetic look of the door. Over the projected period, these factors are expected to drive demand for door handles.
Due to the development of toilets and rural residences, Asia Pacific is expected to lead the worldwide door handles market in 2018. According to the Ministry of Drinking Water and Sanitation of the Government of India, there has been a significant increase in the demand for toilet infrastructure since the beginning of the Swachh Bharat Mission in 2017. Government initiatives concentrating on open defection-free India and increasing the quantity of toilets are expected to create enormous possibilities for local and global door handles players.
Furthermore, according to the Singapore Government's Building and Building Authority, the demand for construction in Singapore is expected to rise from US $27 billion to US$ 32 billion in the projection period 2020 to 2023. Moreover, between 2020 and 2023, the public sector is expected to grant and contribute between US$ 16 billion and US$ 20 billion each year.