Mechanical Locks Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2024

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Report Code: ZMR-3340 | Report Format : | Status : Upcoming |

Abstract

Global Mechanical Locks Market: Overview

Numerous electrical locking devices require a mechanical lock in case of system error or power failure. The applications in doors, furniture, bicycles, and suitcase are projected to drive the global mechanical e market. The sales of mechanical locks are increasing for household and small scale industries specifically in a rural area. Manufacturing mechanical locks are subjected to intrinsic engineering in which suppliers play a crucial role in enhancing the production of mechanical locks.

Global Mechanical Locks Market: Growth Factors

Affordable prices of mechanical locks over electrical access controllers are the major factors that drive the growth of the global mechanical locks market. The requirement of mechanical locks in many electrical locking devices is boosting the demand for mechanical locks. The surge in demand for interconnected and tabular locks are propelling the growth of the market. Moreover, external facility security is anticipated to record steady revenue growth of the market. The sales of mechanical locks in increasing among the small scale industries and household particularly in a rural area are another factor fuels the market demand. The growth of electric access controller is also supporting demand for mechanical locks as they require in case of power failure or system error. However, Adoption of smart locks, high-tech guarding systems, and biometric access platforms continues to surge may hamper the growth of the market. Stainless steel materials are projected to create ample opportunity for the market players operating in the global mechanical locks market over the forecast period. Mechanical locks market players faced challenges in gaining buyers interests in the ever changing landscape of consumer retail.

Global Mechanical Locks Market: Segmentation

The global mechanical locks market is segmented by type, material, application, grade, and geography. On the basis of the type, the global mechanical locks market is bifurcated into the mortise, cylindrical, tabular, interconnected, and dead bolt mechanical locks. By material, the market is fragmented into aluminum, copper, stainless steel, steel, and other mechanical locks Application wise, the market is divided into doors, furniture, suitcase, external facility, bicycles, and other mechanical locks. By grade, the market is fragmented into grade level 1, grade level 2, and grade level 3. Regionally, the market is segmented into North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa.

Global Mechanical Locks Market: Regional Analysis

Geographically, Europe is projected to become the largest mechanical locks market used in external security applications. Strong construction activities in China, South East Asia, and India are driving the demand for mechanical locks market. The sales of grade 2 and grade 3 mechanical locks are increasing in the United State and Europe and Garde1 locks are still popular in Asian countries. China accounts for a higher market share in the mechanical locks and is expected to grow over the forecast period. Germany, Mexico, United State, and Italy are being major importers of mechanical locks.

Global Mechanical Locks Market: Competitive Players

Some of the major market players in the global mechanical locks market areThe 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, and  ECO Schulte GMBH & Co. KG, among others.

Global Mechanical Locks Market: Regional Segment Analysis

  • North America
    • The U.S.
  • Europe
    • The UK
    • France
    • Germany
  • The Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • The Middle East and Africa

What Reports Provides

  • Full in-depth analysis of the parent market
  • Important changes in market dynamics
  • Segmentation details of the market
  • Former, on-going, and projected market analysis in terms of volume and value
  • Assessment of niche industry developments
  • Market share analysis
  • Key strategies of major players
  • Emerging segments and regional markets
  • Testimonials to companies in order to fortify their foothold in the market.

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