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Door Lock Market

Door Lock Market

Door Lock Market Global Industry Assessment & Forecast

# Pages:

180

Base Year:

2021

Nov - 2021

Format:

Report Code:

VMR-2021-0755

Segments Covered
  • By Product Traditional Digital Door Lock, Smart Door Lock
  • By Application Residential, Commercial, Industrial, Government, Others
Snapshot
Forecast YearsForecast Years: 2022 - 2028
Historical YearsHistorical Years: 2016 - 2021
Revenue 2021Revenue 2021: 1.38 Billion
Revenue 2028Revenue 2028: 6.51 Billion
Revenue CAGRRevenue CAGR (2022 - 2028): 21.40%
Fastest Growing Region Fastest Growing Region (2022 - 2028) 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. 

Yearly Infographics 1.38 Billion 6.51 Billion

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)
North America
Europe
Asia Pacific
South America
Middle East Africa

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
  • 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%%.

  • 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..

  • The market is project to grow at a CAGR of 21.40%% between 2021 and 2028.

  • 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.

  • North America was the leading regional segment of the Door Lock in 2020.