Global Mechanical Locks Market Projected To Grow At A CAGR Of Over 5.1% During 2020–2026

20-Jul-2020 | Zion Market Research

According to analysts at Zion Market Research, the global mechanical locks market is anticipated to witness a growth at a CAGR of about 5.1% during the forecast period 2020–2026. The market is likely to reach approximately USD 9.16 billion by 2026. The surging security concerns amongst consumers are propelling the demand for high-security locking systems in residential and commercial spaces. In addition, the mechanical locks are also needed at the electrical locking, in case of a system fault, which, in return, surges the demand moreover. Besides, the augmenting demand for waterproof padlocks in marine applications has impelled the development of the global market during 2020–2026. The weatherproof padlocks provide safeguard grit since they are equipped with a protected keyway and plastic cover. Also, these locks are keyless, portable, and resistant to severe weather conditions and saltwater, and they have the prospect for wider application in the marine industry.

Some of the key players in the market are DOM Security, Spectrum Brands Holdings, Inc., Draper Tools Ltd., Allegion PLC, Codelocks Inc., EVVA Sicherheitstechnologie GmbH, August Bremicker Söhne KG, Nuova Oxidal SRL, Serrature Meroni SpA, Assa Abloy AB, The Eastern Company, dormakaba International Holding GmbH, ECO Schulte GMBH & Co. KG, and Godrej & Boyce Manufacturing Company Limited.

Demand For Mechanical Locks From Various Industries To Boost The Global Mechanical Locks Market

The major driving aspects of the market are surge in the usage of mechanical locks for the physical security applications and its cost-effectiveness. The mechanical locks market is impelling as rising usage of mechanical locks across households (especially in a rural area) and small-scale industries are another aspect boosting the market. The need for mechanical locks is augmenting in numerous electrical locking devices, which is boosting the global mechanical locks market.

The global mechanical locks market is bifurcated on the basis of application, material, type, and regional analysis. Based on the application, the market is divided into doors, bicycles, furniture, suitcase, and others. Based on the material, the market is divided into copper, stainless steel, iron, aluminum, and others. Based on the type, the market is divided into mortise locks, padlocks, deadbolt, cylindrical locks, and others.

The Asia Pacific Region Estimated To Register Major Share In The Global Mechanical Locks Market

Based on the geographical analysis, the global mechanical locks market is divided into Asia Pacific, Europe, North America, Latin America, and Middle East & Africa. The Asia Pacific region is projected to hold the major share of the market during the forecasted period. The construction activities are increasing and the existence of manufacturers of mechanical locks is huge across this region. In emerging countries, such as in India and China, the robust construction activities are augmenting the demand for mechanical locks. China is projected to witness the largest share of the market across this region owing to the constant product innovation and superior raw materials availability in this country.

Browse the full “Mechanical Locks Market - By Application (Doors, Bicycles, Furniture, Suitcase, and Other), By Material (Copper, Stainless Steel, Iron, Aluminum, and Others), By Type (Mortise Locks, Padlocks, Deadbolt, Cylindrical Locks, and Others), and By Region - Global Industry Perspective, Comprehensive Analysis, and Forecast, 2020 – 2026.” Report at

The global mechanical locks market is segmented as follows:

By application:

  • Bicycles
  • Doors
  • Furniture
  • Suitcase
  • Other

By material:

  • Aluminum
  • Stainless Steel
  • Copper
  • Iron
  • Others

By type:

  • Deadbolt
  • Padlocks
  • Mortise Locks
  • Cylindrical Locks
  • Others

By region:

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

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