Global Lock and Padlock Market to 2022

Global lock and padlock market is expected to grow at a significant CAGR in the upcoming period as the scope and its applications are rising enormously across the globe. A lock is a piece of compact mechanical engineering that converts the rotary motion into reciprocal motion of the bolt that locks or opens something like a door. The device helps to keep the valuables safe. 

A padlock is a portable lock with a shackle that could be passed via an opening to prevent vandalism, use, or theft.
The factors that are playing a major role in the growth of market are the growth in acceptance of intelligent building management system and the growing demand from consumers to keep the valuables safe. market is segmented based on type, component, locking mechanism, end user, and region.

Lock and padlock are the types that could be explored in a lock and padlock market in the forecast period. The lock comprises Ward locks, tumbler locks, electronic locks, and others. Whereas, padlock comprises electromechanical padlocks, NE high-security padlocks C-series padlocks, G-series padlocks, hasp lock, round padlocks, and others.

Based on components, locking mechanism, body, and shackle could classify market in the forecast period. Based on the locking mechanism, modular and integrated could classify market in the forecast period. The market may be categorized based on end-users like commercial, residential, and others that could be explored in the forecast period. The residential sector may account for the substantial market share of lock and padlock and is estimated to lead the overall market in the years to come.

Lock and padlock market is segmented geographically into Americas (North America, South America), Europe (Eastern Europe, Western Europe), Asia Pacific (India, China, Japan, New Zealand, and Australia), Middle East (UAE, Saudi, and Qatar) and Africa (South Africa).

Globally, North America may account for the substantial market share of lock and padlock and is estimated to lead the overall market in the years to come. The reason behind the overall market growth could be the presence of key manufacturers in the region and the rising use of enhanced technology. The United States and Canada are the major consumers of lock and padlock in this region.

Europe and the Asia Pacific are also estimated to have a positive influence on future growth. Europe is the second largest region with significant market share. However, Asia Pacific is estimated to grow at the highest CAGR in the forecast period. The key players of lock and padlock market are Europa Padlock, Yale, Godrej & Boyce, Gunnebo Group, and AMSEC. These players are concentrating on inorganic growth to sustain themselves amidst fierce competition.

The report package Global Lock and Padlock Market to 2022  offers the most up-to-date industry data on the actual market situation, and future outlook for locks and padlocks in the world. Along with a global locks and padlocks market report, the package includes country reports from the following countries:

Canada, China, Czech Republic, France, Germany, Italy, Mexico, Spain, United Kingdom, United States

The research includes historical data from 2011 to 2017 and forecasts until 2022 which makes the reports an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs.

The reports help answer the following questions:

- What is the size of the lock and padlock market in the world and in the top 10 global countries?
- How is the market split into different types of locks and padlocks?
- How are the overall market and different product types growing?
- How is the market predicted to develop in the future?

The latest industry data included in the reports:

- Demand for locks and padlocks, 2011-2022
- Lock and padlock market size by product type, 2011-2022
- Growth rates of the overall market and different product segments, 2011-2022
- Shares of different product segments of the overall market, 2011, 2017, and 2022

The market data is given for the following product segments: 

Motor vehicle locks
Furniture locks
Other locks
Padlocks
Parts of locks

Among the key reasons to purchase include the following:

- Gain an outlook of the historical development, current market situation, and future outlook of the lock and padlock market in the world to 2022
- Track industry developments and identify market opportunities
- Plan and develop marketing, market-entry, market expansion, and other business strategies by identifying the key market opportunities and prospects
- Save time and money with the readily accessible key market data included in the reports. The data is clearly presented and can be easily incorporated into presentations and internal reports.