Door And Window Fittings Market - An Overview

Like most product sectors related to the construction sector

, the UK market for door and window fittings has experienced particularly difficult conditions in the last four years. Although overall market growth levels disguise variations in performance between product sectors, conditions have been difficult in most market sectors, with most product areas now flat or in decline. Market decline has been due to a number of key reasons, though perhaps the most important factors have been the downturn in the replacement window market in recent years and the growth of low-cost imports from Far East sources which have eroded price levels. In addition, several related markets have been affected negatively, including the replacement door sector and the conservatory market. Although the commercial market sector performed strongly in 2005/2007, this sector has more recently been affected by both recessionary factors and a switch to electronic security products, affecting sales of mechanical locking solutions.The door and window fittings market is very fragmented in terms of product range, with major sectors including locks, handles, hinges, door closers, ventilators, tilt `n' turn gearing, emergency exit hardware, signs/letterplates, chains and other ancillary products. Locks represent the largest product sector, followed by handles, with each accounting for nearly a third of the hardware market by value. Multi-point locking systems are now virtually standard on most PVC-u, aluminium and composite doors and windows and, as a result, multi-point locks are now estimated to account for around 45% of the lock sector, in terms of value.Door closers and hinges are also significant product sectors and are estimated to account for around 10% each of the market, in value terms. The door closer and panic exit device markets have been motivated by growth in the commercial sectors, whilst most other markets have been relatively flat.A key factor that has affected the majority of product sectors has been the growth in own brand and imported products, with manufacturers in low-cost countries increasing their market shares in low price segments of the market. Over the last five years years, this has been particularly significant in the handles, hinges and other fittings sectors, with friction hinges also affected but to a lesser extent. The lock sector has also been less affected by low cost imports due to higher levels of brand awareness and the fact that products are more complex in this sector. In general, however, UK suppliers have responded to growing margin erosion by continuing to move their manufacturing operations abroad. A key driver for growth in recent years have been legislation and standards - for example, the DDA continuing to have an impact in the handles and hinges sectors in particular. However, margins in this sector have been under severe pressure for a number of years, due to significant levels of price competition, the growth in low cost imports and recently also substantial rises in raw material prices, which in many cases have been difficult to pass down the supply chain. As a result, many companies have diversified into, or invested in, higher growth and margin markets such as electronic security and overseas hardware markets.Although the market remains fragmented overall, a number of acquisitions have taken place in recent years, and there has been a continuing trend towards consolidation in many sectors of the market. In addition, companies which previously had focused on one or two products are now increasingly diversifying their ranges in order to increase opportunities for cross-selling.

Door And Window Fittings Market - An Overview

By: Gen Wright

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