Mechanical Locks market size was valued at USD 7946.5 million in 2021. The Mechanical Locks market industry is projected to grow from USD 8384.35215 million in 2024 to USD 12204.63715 million by 2030, exhibiting a compound annual growth rate (CAGR) of 5.51% during the forecast period (2024 - 2030). Rising demands for deadbolt locks and growing inclination towards interconnected locks are the key market drivers enhancing the mechanical locks market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The employment of mechanical locks in automatic and glass doors is made possible by terminal locking mechanisms. In stores and other commercial establishments, they are used at night since they are designed to keep doors closed when the building is locked. As a result, the need for mechanical locks is increasing ly. These locks also provide you a sense of personal security and allow you to change your locks quickly and affordably if you lose your keys or have a break-in. Additionally, mechanical locks let buildings and residences change security parameters.
Similar to digital locks and locking systems, mechanical locks are evolving to use stronger materials, be jimmy and drill proof, and be more resistant to fault elements. Furthermore, mechanical locks will still be used in addition to electromechanical locks as a fall-back option in the event of a system malfunction or power outage. Because these locks feature weather protection, they are now being used more frequently in marine applications. Therefore, such a surge in the demands for mechanical locks has enhanced the mechanical locks market CAGR across the globe in recent years.
Furthermore, mechanical locks market revenue is anticipated to be constrained over the projected period. Â Mechanical locks are keyless, portable, and resistant to harsh weather conditions, expanding the market during the anticipated timeframe. The tremendous resistance of mechanical locks, such as stainless-steel locks against heat, rust, and abrasion, would reportedly boost their sales in the near future.
The mechanical locks market segmentation based on type, includes padlocks, mortise locks, cylindrical locks, deadbolt, and others. The deadbolt locks segment held the majority share in 2021, contributing to the mechanical locks market revenue. The expansion is linked to the expanding deployment across numerous industries and the simple installation. Low installation costs, great durability, and appropriate protection against serious incursion or direct attacks from residential, commercial, and other sources all contribute to the expansion of the market. Advanced deadbolts with built-in attributes like single-touch locks, low battery warnings, and personalized user codes were added to the portfolios of some of the top businesses, like Kwikset, which ultimately drew in a sizable user base.
Padlocks is the second fastest-growing segment, which accounts for a considerable share of the mechanical locks market. There are typically two main uses for padlocks. Either they are intended to stop theft, or they are used to stop unlawful entrance to a space, a building, or a particular item. These uses are frequently combined, for instance when they are used to secure a shed or outbuilding. Compared to conventional electronic access systems, padlocks are more flexible since they can withstand adverse weather conditions and secure practically any locking point.
Grade 2 is the second fastest-growing segment, which accounts for a considerable share of the market. In comparison to residential building standards, Grade 2 satisfies minor commercial needs. These locks work well on lighter-duty doors where security is not as important. Unauthorized personnel will be prevented from entering the building by them.
Figure 2: Â Mechanical Locks Market, by Grade, 2021 & 2030 (USD Million)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The mechanical locks market segmentation based on raw material, includes stainless steel, copper, iron, aluminum, and others. Â The copper segment held the majority share in 2021, contributing to the mechanical locks market revenue. Due to its superior mechanical qualities, ability to be processed easily, resistance to corrosion and rust, and great mechanical properties, copper is one of the most commonly used metals for the production of locks. In addition to its usefulness, copper has an amazing aesthetic that makes it a desirable material for locks' beautiful handles. It has no pores or holes, a good density, and a smooth surface.
Stainless steel is the second fastest-growing segment, which accounts for a considerable share of the mechanical locks market. Stainless steel is the material of choice for making locks in the majority of applications due to its outstanding durability and resistance to corrosion. In order to accommodate the many different types of locks, stainless steel is available in a wide range of grades with a dazzling sheen that never fades. Stainless steel in austenitic grades is non-magnetic but never rusts.
By Region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. Asia Pacific mechanical locks market accounted for USD 3345.4765 million in 2021 and is expected to exhibit a 42.10% CAGR growth during the study period. Due to the growing applications across numerous sectors, the APAC market for mechanical locks is expected to experience the quickest CAGR during the study period. Additionally, their market trends indicate that new, creative mechanical locks that are both practical and highly secure have been continuously introduced. In the region of the world, these variables have caused a huge increase in product demand. Additionally, customers' preferences for mechanical digital door locks have increased, which may help the APAC market expand.
Further, the major countries studied in the market report are: The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 3: Â MECHANICAL LOCKSMARKET SHARE BY REGION 2021 (%)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
North America mechanical locks market held the second-largest share during the projected period, it is expected to grow sustainably. Modernizations in the field of smart locks are causing the area to expand. This is mostly because technology has been widely adopted, and smart homes have been rapidly growing in number in the US. A favorable regulatory climate for their adoption has been produced by customers' strong spending power combined with growing safety concerns, particularly in major infrastructure and domestic applications. It is anticipated that sales of mechanical locks will increase as tubular and two-way locks become more widely used in the residential sector in the United States. Further, the US mechanical locks market held the largest market share, and the China mechanical locks market was the fastest growing market in the region.
Furthermore, the Europe mechanical locks market is predicted to benefit from the tourist sector's strong expansion and growing demands for security. The need for mechanical locks is increasing as a result of growing security concerns in shared living spaces, hospitals, university housing, senior living communities, and recreation centres. Additionally, the market has a big retail industry that includes a lot of warehouses and storage facilities. Heavy-duty locking mechanisms, most frequently deadlocks for simpler access, are required for these areas. Further, the Germany mechanical locks market held the largest market share, and the UK mechanical locks market was the fastest growing market in the European region.
Major market players are spending a lot of capitals on R&D to enhance their grade lines, which will aid the Mechanical Locks market expand. Market players are also taking a range of strategic measures to expand their worldwide footprint, with prime market developments such as new grade innovations & launches, contracts & agreements, mergers and acquisitions, better investments, and collaboration & strategic partnerships with other organizations in the Mechanical Locks market. Competitors in the Mechanical Locks industry must offer cost-effective items to extend and survive in an increasingly highly competitive and expanding market environment.
One of the primary business strategies adopted by manufacturers in the Mechanical Locks industry to benefit clients and expand the market sector is to manufacture locally to reduce operating costs. In recent years, Mechanical Locks industry has provided medicine with some of the most significant benefits. The Mechanical Locks market major player such as Spectrum Brands Holdings Inc. (US), Allegion PLC (Ireland), Dormakaba International Holding GmbH (Germany), EVVA Sicherheitstechnologie GmbH (Austria), Draper Tools Ltd (UK), and others are working to drive the market growth via investing heavily in research and development activities.
Allegion PLC (Ireland) specializes in security around the doorway and surrounding area and has more than 25 brands that are sold ly. This includes everything from residential locks and portable security to commercial locks, exit devices, openers and closers, electronic access control, and solutions for increasing worker productivity. In April 2022, Allegion has announced its intention to acquire a division of Stanley Black & Decker, situated in New Britain, Connecticut, Stanley Access Technologies operates a manufacturing facility in Mount Comfort.
Also, Dormakaba International Holding GmbH (Germany) provides access control and security solutions. Security cylinders and locks, mechatronic lock cylinders, digital locking systems, and pushbutton locks with pin codes are among the company's product offerings. In addition, Dormakaba offers physical access systems, lodging goods, safe locks, key cutting devices, key cutting and coding equipment, and key duplication devices. In January 2020, the newest version of Dormakaba's SVP self-locking emergency escape locks was introduced. The range is appropriate for usage on emergency exits and escape routes where doors needing access control can be balanced with safety in an emergency.
Key Companies in the Mechanical Locks market includes
Mechanical Locks Industry Developments
July 2021: SICK entered the market and unveiled its most recent lock system, which combines its MB1 mechanical safety bolt for hazardous settings with its TR110 non-contact safety lock. High performance is provided along with a sizable machine availability. Together, these two factors produce a cutting-edge electro-mechanical door locking system that promises the greatest level of protection for machinery and can be included into a number of safety systems.
| Report Attribute/Metric | Details |
| Market Size 2021 | USD 7946.5 million |
| Market Size 2022 | USD 8384.35215 million |
| Market Size 2030 | USD 12204.63715 million |
| Compound Annual Growth Rate (CAGR) | 5.51 % (2024-2030) |
| Base Year | 2021 |
| Market Forecast Period | 2024-2030 |
| Historical Data | 2018 & 2020 |
| Market Forecast Units | Value (USD million) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Material, Grade, and Application |
| Geographies Covered | North America, Europe, Asia Pacific, and Rest of the World |
| Countries Covered | The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Spectrum Brands Holdings Inc. (US), Allegion PLC (Ireland), Dormakaba International Holding GmbH (Germany), EVVA Sicherheitstechnologie GmbH (Austria), Draper Tools Ltd (UK), DOM Security (France), Codelocks Inc. (US), Godrej & Boyce Manufacturing Company Limited (India), The Eastern Company (US), and ECO Schulte GMBH & Co. KG (Germany) |
| Key Market Opportunities | ·       Increase in demand from marine industry for mechanical locks |
| Key Market Dynamics | ·       Rising inclination towards weatherproof padlocks ·       Increasing technological upgradations |
Mechanical Locks Market Highlights:
Frequently Asked Questions (FAQ) :
The market size was valued at USD 7946.5 million in 2021.
The market is projected to grow at a CAGR of 5.51% during the forecast period, 2024-2030.
Asia Pacific had the largest share in the market.
The key players in the market are Spectrum Brands Holdings Inc. (US), Allegion PLC (Ireland), Dormakaba International Holding GmbH (Germany), EVVA Sicherheitstechnologie GmbH (Austria), Draper Tools Ltd (UK).
The grade 1 category dominated the market in 2021.
Research Analyst Level II I have a degree in engineering (civil), with masters in business administration (marketing). with more than 4 years of experience in market research and consulting, i am involved in end-to-end process of market research, proposals, project kickoffs and delivery. i have research knowledge and expertise in consumer goods/packaging domain. also i have worked for various other domains like construction & equipment. effectively managed and delivered more than 60 report studies for regional as well as global clientele.
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