Mechanical Locks Market

Mechanical Locks Market is Expected to Represent US$ 7,160 Mn value towards the
end of 2022
While evaluating the security characteristics of electronic locks and mechanical locks, the
latter seems to hold inferiority owing to designing flaws, large area for surface impact, and
lack of provision for security upgrades. A recent study published by Future Market Insights
assesses the future prospects of global market for mechanical locks. Key findings from this
report reveal that by the end of 2022, around US$ 7,160 million worth of mechanical locks
are anticipated to be sold across the globe. The report also forecasts that for the assessment
period, 2017-2022, the global mechanical locks market is likely to attain growth at a
moderate CAGR of 4.5%.
In the view of emerging technologies in the domain of physical security, the future demand
for mechanical locks is less likely to witness steadfast growth. Adoption of smart locks,
high-tech guarding systems, and biometric access platforms continues to surge, concurrently
lowering the uptake for mechanical locks among consumers. Even as a retail commodity,
mechanical locks are exhibiting a decline in terms of capturing the mass consumer appeal
which continues to opt for adamantine security products.
Demand for Interconnected Mechanical Locks to Remain Steady
According to the report, interconnected mechanical locks will continue to gain grounds in
the global market. Despite the moderate expansion anticipated for the global mechanical
locks market, interconnected locks will bring in nearly US$ 1,880 Mn in revenues by the
end of 2022. Interconnected mechanical locks will continue to find application in security of
buildings, apartments, military housing, and other residential facilities. Moreover, the
demands for interconnected locks are also expected to be influenced by their precise lever
actions and compatibility to handicapped requirements. Easy installation and construction
will also have a governing factor in compelling manufacturers towards increasing
production of interconnected locks.
Competitive Landscape of Mechanical Locks Market
The report has profiled leading companies partaking in the growth of global mechanical
locks market. These companies are expected to aim towards bringing cost-effectiveness in
manufacturing of mechanical locks by procuring quality raw materials through a robust
supply chain. Subjected to intrinsic engineering, manufacturing of mechanical locks will
continue to incur qualitative enhancement, wherein apposite application of locksmithing
knowledge and metallurgy will play a pivotal. Companies namely, Serrature Meroni Spa,
ASSA ABLOY AB (key subsidiary - Mul-T-Locks), Dom Ronis, Allegion Plc, Winkhaus
Austria Gmbh, Yale Security Inc., Dormakaba Holdings AG, The Eastern Company, PicardSerrures, and ECO Schulte GMBH & Co. KG are observed to remain prominent in the
competitive landscape of global mechanical locks market during the forecast period.
View and Download TOC of Mechanical Locks Market Research Report @
https://www.futuremarketinsights.com/reports/mechanical-locks-market/toc
The report also reveals that tubular locks will be a top-selling product in the global
mechanical locks market, and will register 5.6% CAGR over the forecast period
On the basis of materials, stainless steel will be viewed as a sought-after, revenues from
which are projected to reach US$ 2,430 Mn by 2022-end
Sales of grade level 2 mechanical locks will gain steady traction, creating an incremental
opportunity of approx. US$ 600 Mn between 2017 and 2022
In 2017, external facility security will be viewed a lucrative application, revenues from
which are expected to procure nearly one-fifth share on global market value
Throughout the forecast period, North America will remain the largest market for
mechanical locks
Europe’s mechanical locks market is pegged to witness an absolute dollar opportunity of
more than quarter of billion dollars between 2017 and 2022
Browse Complete Report @
https://www.futuremarketinsights.com/reports/mechanical-locks-market

While evaluating the security characteristics of electronic locks and mechanical locks, the latter seems to hold inferiority owing to designing flaws, large area for surface impact, and lack of provision for security upgrades. A recent study published by Future Market Insights assesses the future prospects of global market for mechanical locks.

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