The organized builder hardware market is growing on the back of customer demand for aesthetic interiors fitted with the best architectural products. The architectural landscape of India is changing as people’s lifestyle aspirations are rising and they are looking for smart buildings equipped with quality building materials of renowned brands.
Rising disposable income and the growing construction activity across cities, including renovations in both commercial and residential buildings, are fueling demand for the latest building products. This market trend, in turn, is impacting the unorganized sector adversely and reducing its size.
Like all industries, there are challenges and roadblocks in the Builder Hardware industry as well due to lack of knowledge and information about the people-friendly Government schemes. The industry is also facing the problem of internal competitiveness. To address all such issues, we are planning to organize seminars and workshops to create greater awareness and guide the builder hardware companies on upcoming Government schemes and on other avenues of growing businesses on a larger scale.
Modern hardware manufacturing is very innovative with new equipment and processes, enabling better materials, coatings and finishes such as PVD / shining chrome. The market is seeing many new developments, for instance, Rajkot is fast becoming a manufacturing hub. Production of zinc has grown three times over the last few years. Zinc die cast, aluminum and brass production are also seeing high growth since the last few years.
With Builder Hardware production on high growth in India, our import of products has declined significantly. At the same time, our export is on the rise as many builder hardware companies are making good quality products that are at par with global standards. These companies are engaged in manufacturing, supplying and exporting technically advanced products using the latest technology and high-grade raw materials and components, procured from authentic vendors. They have a very customer-centric approach and provide customized solutions, besides which, they follow ethical business practices.
Builder Hardware production is on high growth in India; our import of products has declined significantly, and at the same time, our export is on the rise as many builder hardware companies are making good quality products that are at par with global standards. In fact, our modern hardware manufacturing is very innovative with new equipment and processes, enabling better materials, coatings and finishes.
A report by Anarock Property Consultants says: “The Indian real estate sector, buoyed by positive consumer sentiments and favourable policies, is coming back on track. 2018 started on a positive note with the first quarter recording an increase in housing sales, and the momentum seems to be increasing. With nearly 1,800 unit sales added across top 7 cities, the month of April alone saw a 25% increase in absorption across the top 7 cities as against March.”
With the Residential sector being a large consumer of builder hardware, the rise in housing units bodes well for the Builder Hardware Industry. The Commercial sector is also seeing an upswing, so we are optimistic of rising business opportunities across the country for the Builder Hardware companies.