Cylindrical Locks Market Research
Market Overview
Cylindrical Locks Market Size was valued at USD 3.8 Billion in 2022. The cylindrical locks market industry is projected to grow from USD 4.0 Billion in 2023 to USD 6.0 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.20% during the forecast period (2023 - 2032).The latch bolt is attached to the chassis by a cylinder fitted in the lever. The pins within the cylinder line up whenever the key is inserted, causing the lock to unlock. Compared with other kinds of mechanical locks, the major benefit of a cylindrical lock is how quickly it can be installed. In both home and business settings, cylindrical locks are used. Cylindrical locks come in various shapes and sizes, including KIK cylinders, euro-cylinder locks, deadbolts, oval cylinder locks, and changeable core cylinders.
In comparison to other mechanical locks, cylindrical locks are simple to install. Because they safeguard any property, these locks are both convenient and secure.
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Key Companies in the Cylindrical Locks market include
- Spectrum Brands Inc. (US)
- Assa Abloy AB (Sweden)
- Allegion PLC (Ireland)
- DOM Security (France)
- Serrature Meroni S.p.A. (Italy)
- Draper Tools Ltd (UK)
- EVVA Sicherheitstechnologie GmbH (Austria)
- C.Ed. Schulte GmbH Zylinderschlossfabrik (Germany)
- August Bremicker Söhne KG (Germany)
- dormakaba Holding (Switzerland)
Market segmentation
Cylindrical Locks Type Outlook
- Euro Cylinder Lock
- Oval Cylinder Lock
- Deadbolt
- KIK Cylinders
- Interchangeable Core Cylinders
- Others
Cylindrical Locks End-User Outlook
- Residential
- Commercial
Cylindrical Locks Distribution Channels Outlook
- Store-Based
- Non-Store-Based
Regional analysis
North America, South America, Asia-Pacific, Europe, the Middle East, and Africa make up the worldwide cylindrical locks market by area. In 2019, Asia-Pacific had the greatest market share of 30.09 percent, and it is predicted to develop at the highest rate from 2020 to 2026. In 2019, Europe was the second-largest market, with a forecasted CAGR of 4.82 percent throughout the review period.
North America Market
North America is expected to be a lucrative market for cylindrical lock makers. During the projection period, the North American market is expected to increase moderately. Constant product innovation and quick developments in integrating diverse raw materials within the production of cylinder locks could be credited for this rise.
Asia-Pacific Market
In 2019, the Asia-Pacific cylindrical lock market held the largest global market share. Over the previous few years, the organized retail sector has played a vital part in expanding the market.
Industry news
Organic and inorganic strategic choices are major advances in the cylindrical locks market. Product approvals, product launches, and other organic growth tactics, like patents and events, are being prioritized by several companies. Acquisitions and partnerships & collaborations were two inorganic growth tactics seen in the market. These efforts have paved the road for market players to expand their business and client base. With the increased demand for cylinder locks in the worldwide industry, market payers within the cylindrical locks market are expected to benefit from attractive growth prospects in the future.
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Why buy this report?
- The report offers a comprehensive evaluation of the Global Cylindrical Locks Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
- The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
- The report includes an in-depth Cylindrical Locks market analysis using Porter’s 5 forces model.
- The report also includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
- The report also contains the competitive analysis using Positioning Quadrants, the analyst's competitive positioning tool.
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