
Door Lock Market
Door Lock Market Global Industry Assessment & Forecast
Segments Covered
By Product Traditional Digital Door Lock, Smart Door Lock
By Application Residential, Commercial, Industrial, Government, Others
Snapshot
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2021 - 2028 |
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2016 - 2020 |
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1.38 Billion |
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6.51 Billion |
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21.40% |
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North America |
Customization Offered
Cross-segment Market Size and Analysis for Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market Dynamics
Region Level Market Share
Import Export Analysis
Production Analysis
Others Request Customization Speak To Analyst
Key Insights
The
global Door Lock market was valued at USD 1.38 Billion in 2020 and is
projected to reach USD 6.51 Billion by 2028, growing at a CAGR of 21.40%%
from 2021 to 2028.

Years | Parameters |
---|---|
Historical Data (Actual Data) | 2016-2020 |
Base Year Data | 2020 |
Current Year Date | 2021 |
Projected year data | 2021-2026 |
Annual Market Size (2028) | 6.51 Billion |
Annual Market Size (2021) | |
CAGR (2021 - 2028) | 21.40%% |
Definition and Overview
These locks are usually installed on external doors. Single cylinder deadbolts use a key cylinder on the outside and a thumb turn on the inside to open or close.
The
global Door Lock market is segmented based on by Product, Application,
regions, and countries. The regional segmentation provides current and forecast
demand across North America, Europe, Asia Pacific, Latin America, and Middle
East & Africa. All the segments have been analyzed on the basis of present
and future trends. Rising demand for Door Lock in various countries such as the U.S.,
Germany, China, India, and Japan, among others is likely to support the growth
of the market. Numerous companies are focusing on investing heavily in this
application to cater the end user requirements effectively. The report provides
comprehensive analysis of the market based on drivers, restraints,
opportunities, trends, competition, and industry-authenticated data. The market
is estimated from 2016 to 2020 with forecast from 2021 to 2028.
Global Door Lock Market: COVID-19 Impact Analysis
The
COVID-19 pandemic is affecting industries worldwide and the global economy took
hit in 2020 and likely in 2021 as well. The outbreak created disruptions in
industries such as semiconductor, consumer electronics, travel, and automotive,
among others. Impact of COVID-19 on the market demand is considered while
estimating the current and forecast market size and growth trends for all the
regions and countries. The
report provides a completely separate chapter for COVID-19 Impact Analysis.
This chapter includes: o Impact Assessment of COVID-19
Pandemic o Pre & Post COVID-19
Market Size o Qualitative analysis on the
short term & long term impact of COVID-19 on the market
o
The
analysis provides foremost strategies adopted by competitors to minimize the
impact of the pandemic on their business activities and scope for future
developments.
Market Insights
The rising Internet of Things (IoT) penetration along with the advent of technologies such as Machine Learning (ML) and Artificial Intelligence (AI) are expected to accelerate the mass adoption of smart locks over the forecast period.
The growing consumer awareness regarding the benefits and convenience offered by these locks is responsible for their increasing demand, especially across the residential and hospitality sectors globally thereby elevating the market growth.
Lack of awareness makes it tough for the market to operate and function systematically.
Global Door Lock Market Report Scope
Parameter | Details |
---|---|
Market Size Provided for Years | 2016-2028 |
Base Year | 2020 |
Historic Years | 2016-2020 |
Forecast Years | 2021-2028 |
Market Size Provided In Terms Of | Revenue & Volume |
Segments Covered | Product, Application |
Regions Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
Countries Covered | The U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, South East Asia, Brazil, Argentina, GCC Countries, and South Africa, among others |
Companies Covered | Jiangmen Keyu Intelligence, Locstar, Spectrum Brands Holdings Inc., Adel, Honeywell, Salto Systems, August, Videx Security Ltd, Guangdong Level Intelligent Lock, Tenon, CDV Group Company, MIWA Lock, Kaba Holding AG, Samsung, DynaLock Corporation, Guangdong Be-Tech, Cisco Systems Inc, Onity (United Technologies Corp.), Master Lock (Fortune Brands), Allegion, Assa Abloy, Seoul Commtech Co. Ltd. |
Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis |
Market Segmentation
Product Analysis: Preview On the basis of Product,
the market is segmented into Traditional Digital Door Lock, Smart Door Lock. Smart door lock held the
leading share in 2020 and is anticipated to grow at a noteworthy CAGR over the
forecast timespan. This is due to the increasing adoption of Smart door lock
in emerging economies in Asia Pacific region. Application
Analysis: Preview
Based on Application,
the market is segmented into Residential, Commercial, Industrial, Government, Others,. Commercial accounted
for the highest market share and is expected to grow at a significant CAGR from
2021 to 2028.
Global Door Lock Market: Product Segment Analysis
-
- Traditional Digital Door Lock
- Smart Door Lock
Global Door Lock Market: Application Segment Analysis
-
- Residential
- Commercial
- Industrial
- Government
- Others
Regional Analysis Preview
On the basis of region, the global Door Lock market is divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America region held the largest share of the global Door Lock market in 2020. Some of the major countries contributing to the surge in the market are the U.S., U.K., Germany, France, China, India, Japan, and South Korea. U.S. is one of the most profitable countries for companies operating in the market.
Market Size, 2021 (USD Billion)
Global Door Lock Market: Regional Analysis
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- France
- Germany
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Rest of Latin America
- Middle East and Africa
- GCC Countries
- South Africa
- Rest of MEA
Competitive Landscape
The market comprises of various small, medium, and large sized players spread across all the regions. Some of the key companies operating in the global Door Lock market are Jiangmen Keyu Intelligence, Locstar, Spectrum Brands Holdings Inc., Adel, Honeywell, Salto Systems, August, Videx Security Ltd, Guangdong Level Intelligent Lock, Tenon, CDV Group Company, MIWA Lock, Kaba Holding AG, Samsung, DynaLock Corporation, Guangdong Be-Tech, Cisco Systems Inc, Onity (United Technologies Corp.), Master Lock (Fortune Brands), Allegion, Assa Abloy, Seoul Commtech Co. Ltd.. The report provides company market share analysis which gives a comprehensive overview of the key competitors in the market. In addition, the report also covers major strategies adopted by market players such as new product launch, acquisitions & mergers, partnerships, collaborations & joint ventures, research & development, and regional expansion. The study also covers the product portfolio of major companies operating in the market.
FAQ
Frequently Asked Question
What is the global demand for Door Lock in terms of revenue?
-
The global Door Lock valued at 1.38 Billion in 2020 and is expected to reach 6.51 Billion in 2028 growing at a CAGR of 21.40%%.
Which are the prominent players in the market?
-
The prominent players in the market are Jiangmen Keyu Intelligence, Locstar, Spectrum Brands Holdings Inc., Adel, Honeywell, Salto Systems, August, Videx Security Ltd, Guangdong Level Intelligent Lock, Tenon, CDV Group Company, MIWA Lock, Kaba Holding AG, Samsung, DynaLock Corporation, Guangdong Be-Tech, Cisco Systems Inc, Onity (United Technologies Corp.), Master Lock (Fortune Brands), Allegion, Assa Abloy, Seoul Commtech Co. Ltd..
At what CAGR is the market projected to grow within the forecast period?
-
The market is project to grow at a CAGR of 21.40%% between 2021 and 2028.
What are the driving factors fueling the growth of the market?
-
The driving factors of the Door Lock include
- The rising Internet of Things (IoT) penetration along with the advent of technologies such as Machine Learning (ML) and Artificial Intelligence (AI) are expected to accelerate the mass adoption of smart locks over the forecast period.
- The growing consumer awareness regarding the benefits and convenience offered by these locks is responsible for their increasing demand, especially across the residential and hospitality sectors globally thereby elevating the market growth.
Which region accounted for the largest share in the market?
-
North America was the leading regional segment of the Door Lock in 2020.