Mechanical Locks Market was valued at US$ 5.7 Bn in 2017 and is expected to reach US$ 8.7 Bn by 2026, at a CAGR of 4.81% during a forecast period.
Based on material, copper is expected to hold the largest share of the market during the forecast period as it has excellent features such as hardness, ductility, and strength. Followed by the iron as it is cost-effective many manufacturers use the iron for the mechanical locks. On the basis of type, mortise locks segment is expected to hold the largest share of the market during the forecast period. In terms of application, doors application is expected to hold the largest share of the market during the forecast period as construction activities are increasing, rising usage of mechanical locks for physical security, and mechanical locks are cost effective.
Major driving factors of the market are rising usage of mechanical locks for physical security applications and mechanical locks are cost effective. The market of mechanical locks is boosting as rising usage of mechanical locks in small-scale industries and household particularly in a rural area are another factor propel the market. The requirement of mechanical locks is rising in many electrical locking devices is also boosting the market for mechanical locks. The report covers the detailed study of drivers and restraints of the market, based on type, material, application, and region. Additional provides the expected opportunities for the market.
In terms of region, Asia Pacific is estimated to hold the largest share of the market in the forecast period. Construction activities are rising and the presence of manufacturers of mechanical locks is large in this region is boosting the market of mechanical locks in this region. In developing countries, strong construction activities such as in India and China is increasing demand for the mechanical locks in these countries. China is estimated to hold the largest share of the market in this region during the forecast period due to the continuous product innovation and advanced raw materials are available in this country.
The report includes a detailed study of Porter’s Five Forces model to analyze the different factors affecting the growth of the market. Moreover, the study also covers a market attractiveness analysis, PESTLE analysis, Value Chain Analysis, and SWOT analysis.
Key player’s studies, analyzed, profiled and benchmarked in mechanical locks market are The Eastern Company, Dormakaba Holdings AG, Yale Security Inc., Winkhaus Austria Gmbh, Allegion Plc, Picard-Serrures,ASSA ABLOY AB (key subsidiary - Mul-T-Locks), Dom Ronis, Serrature Meroni Spa, Serrature Meroni Spa, ECO Schulte GMBH & Co. KG, ASSA ABLOY AB (key subsidiary - Mul-T-Locks), Fermax Electrónica, Mul-T-Lock, Nuova Oxidal, AGB – Alban Giacomo, Illinois Lock Company, and ECO Schulte GMBH & Co. KG.
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Scope of The Report Mechanical Locks Market
Global Mechanical Locks Market, by Application
• Doors
• Furniture
• Suitcase
• Bicycles
• Other
Global Mechanical Locks Market, by Material
• Stainless Steel
• Copper
• Iron
• Aluminium
• Others
Global Mechanical Locks Market, by Type
• Padlocks
• Mortise Locks
• Cylindrical Locks
• Deadbolt
• Others
Global Mechanical Locks Market, by Region
• North America
• Europe
• Asia Pacific
• Middle East & Africa
• South America
Key Players in Global Mechanical Locks Market
• The Eastern Company
• Dormakaba Holdings AG
• Yale Security Inc.
• Winkhaus Austria Gmbh
• Allegion Plc
• Picard-Serrures
• ASSA ABLOY AB (key subsidiary - Mul-T-Locks)
• Dom Ronis
• Serrature Meroni Spa
• ECO Schulte GMBH & Co. KG
• Fermax Electrónica
• Mul-T-Lock
• Nuova Oxidal
• AGB – Alban Giacomo
• Illinois Lock Company
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