Padlock Market Size, Demand Outlook, COVID-19 Impact, Trend Analysis by Type (Key Padlock, Password Enabled), by End Use, and Industry Estimates 2021-2027
- Published: April, 2021
- Report ID: QAR-FM02025
- Format: Electronic (PDF)
- Historical Data : 2017 - 2019
The global padlock market is expected to grow from USD 3.4 billion in 2020 to USD 5.6 billion by 2027, at a CAGR of 7.2% during the forecast period. Growing number of residential and commercial projects, along with renovation of existing infrastructure, is the key factor driving the growth of the global padlock market. Moreover, the increasing demand from hospitality sector is also projected to propel the global padlock market growth.
Padlocks of different types are available in the market, which range from traditional mechanical locks to technologically advanced smartlocks. While traditional padlocks still depend on dial or rotary locks, these new smartlocks come with additional features such as fingerprint sensors. These smart padlocks include touch padlocks, tap padlocks, Bluetooth padlocks among others. There is a growing preference for these technologically advanced and aesthetically pleasing padlocks. The emergence of the intelligent building management system has also led to an increase in the demand for smart locks across the globe.
The real-state sector especially in the Asia-Pacific region has witnessed massive growth over the years. With rising populations and growing disposable income the region is becoming a hub of urban development projects. Moreover, the rising tourism sector has also led to increase in the number of hotels globally. All these projects require padlocks in their rooms to cater to the safety needs, which will give impetus to the global padlock market during the forecast period.
The global padlock market is characterized by number of small virtually unknown brands which sell cheap padlocks. Especially in the rural areas this has created a preference for these low-cost padlock solutions. However, increasing disposable income and rising living standards is expected to generate demand for better security solutions.
Segment overview
On the basis of type, the key padlock segment held the maximum share of the global padlock market in 2020, and the trend is likely to continue over the forecast period. The password padlock segment is projected to emerge as the fastest growing segment. The growth in the segment is primarily due to the rising adoption of technologically advanced custom padlocks that offer unlocking through unique passwords.
On the basis of region, North-America held the largest share of the global padlock market. Asia Pacific is projected to be the fastest growing region from 2021 to 2027. The growth in the Asia-Pacific market can be attributed to the growing number of residential and commercial projects in the region
The report provides detailed market outlook, and forecast of the “Global Padlock Market” based on Type, End-Use and by Region. The report gives the market estimates of the global fasteners market in terms of value (USD million).
Report Scope
| Research Attribute | Coverage |
|---|---|
| Years Considered | 2017-2027 |
| Historical Years | 2017, 2018, 2019 |
| Base Year | 2020 |
| Forecast Period | 2021-2017 |
| Units Considered | USD Million |
| Segmentation By Type |
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| Segmentation by End-Use |
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| Regions Covered |
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| Key Company Profiles | Master Lock Company LLC., ASSA ABLOY AB, Zephyr Lock., The ABUS group., Stanley Black & Decker, Allegion PLC., Europa Padlock, Godrej & Boyce., Yale, among others. |
CHAPTER 1. Market Scope and Methodology
1.1. Research methodology
1.2. Objectives of the report
1.3. Research scope & assumptions
1.4. List of data sources
CHAPTER 2. Executive Summary
2.1. Global Padlocks Market – Key industry insights
CHAPTER 3. Market Outlook
3.1. Market definition
3.2. Market segmentation
3.3. Value chain analysis
3.4. Market opportunities & trends
3.4.1. Shift towards technologically advanced and aesthetically pleasing padlocks
3.5. Market driver analysis
3.5.1. Growing number of residential and commercial projects
3.5.2. Rising demand from the hospitality industry
3.5.3. Impact analysis
3.6. Market restraint analysis
3.6.1. Customer preference for low-cost solutions
3.6.2. Impact analysis
3.7. SWOT analysis
3.8. Industry analysis – Porter’s
3.8.1. Bargaining power of suppliers
3.8.2. Bargaining power of buyers
3.8.3. Threat of new entrants
3.8.4. Threat of substitutes
3.8.5. Competitive rivalry
CHAPTER 4. Competitive Outlook
4.1. Competitive framework
4.2. Company market share analysis
4.3. Strategic layout
CHAPTER 5. COVID-19 Implications
5.1. Industry impact of COVID-19 pandemic
5.1.1. Impact analysis by end-use
5.1.2. Analyst recommendations
CHAPTER 6. Global Padlocks Market Size and Forecast (2021 - 2027)
6.1. Global Padlocks Market, By Type
6.1.1. Key Padlock
6.1.2. Password Enabled
6.1.3. Others
6.2. Global Padlocks Market, By End Use
6.2.1. Commercial
6.2.2. Household
6.2.3. Others
CHAPTER 7. Global Padlocks Market Size and Forecast, By Region (2021 - 2027)
7.1. North America Global Padlocks Market (USD Million)
7.1.1. North America Padlocks Market, By Type (USD Million)
7.1.2. North America Padlocks Market, By End-Use (USD Million)
7.1.3. The U.S. Padlocks Market (USD Million)
7.1.3.1. The U.S. Padlocks Market, By Type (USD Million)
7.1.3.2. The U.S. Padlocks Market, By End-Use (USD Million)
7.1.4. Canada Padlocks Market (USD Million)
7.1.4.1. Canada Padlocks Market, By Type (USD Million)
7.1.4.2. Canada Padlocks Market, By End-Use (USD Million)
7.1.5. Mexico Padlocks Market (USD Million)
7.1.5.1. Mexico Padlocks Market, By Type (USD Million)
7.1.5.2. Mexico Padlocks Market, By End-Use (USD Million)
7.2. Europe Padlocks Market (USD Million)
7.2.1. Europe Padlocks Market, By Country (USD Million)
7.2.2. Europe Padlocks Market, By Type (USD Million)
7.2.3. Europe Padlocks Market, By End-Use (USD Million)
7.2.4. Germany Padlocks Market (USD Million)
7.2.4.1. Germany Padlocks Market, By Type (USD Million)
7.2.4.2. Germany Padlocks Market, By End-Use (USD Million)
7.2.5. The U.K Padlocks Market (USD Million)
7.2.5.1. The U.K Padlocks Market, By Type (USD Million)
7.2.5.2. The U.K Padlocks Market, By End-Use (USD Million)
7.2.6. France Padlocks Market (USD Million)
7.2.6.1. France Padlocks Market, By Type (USD Million)
7.2.6.2. France Padlocks Market, By End-Use (USD Million)
7.2.7. Italy Padlocks Market (USD Million)
7.2.7.1. Italy Padlocks Market, By Type (USD Million)
7.2.7.2. Italy Padlocks Market, By End-Use (USD Million)
7.2.8. Spain Padlocks Market (USD Million)
7.2.8.1. Spain Padlocks Market, By Type (USD Million)
7.2.8.2. Spain Padlocks Market, By End-Use (USD Million)
7.3. Asia-Pacific Padlocks Market (USD Million)
7.3.1. Asia-Pacific Padlocks Market, By Country (USD Million)
7.3.2. Asia-Pacific Padlocks Market, By Type (USD Million)
7.3.3. Asia-Pacific Padlocks Market, By End-Use (USD Million)
7.3.4. China Padlocks Market (USD Million)
7.3.4.1. China Padlocks Market, By Type (USD Million)
7.3.4.2. China Padlocks Market, By End-Use (USD Million)
7.3.5. Japan Padlocks Market (USD Million)
7.3.5.1. Japan Padlocks Market, By Type (USD Million)
7.3.5.2. Japan Padlocks Market, By End-Use (USD Million)
7.3.6. India Padlocks Market (USD Million)
7.3.6.1. India Padlocks Market, By Type (USD Million)
7.3.6.2. India Padlocks Market, By End-Use (USD Million)
7.3.7. South Korea Global Padlocks Market (USD Million)
7.3.7.1. South Korea Padlocks Market, By Type (USD Million)
7.3.7.2. South Korea Padlocks Market, By End-Use (USD Million)
7.3.8. Australia Padlocks Market (USD Million)
7.3.8.1. Australia Padlocks Market, By Type (USD Million)
7.3.8.2. Australia Padlocks Market, By End-Use (USD Million)
7.3.9. Indonesia Padlocks Market (USD Million)
7.3.9.1. Indonesia Padlocks Market, By Type (USD Million)
7.3.9.2. Indonesia Padlocks Market, By End-Use (USD Million)
7.4. Central & South America (CSA) Padlocks Market (USD Million)
7.4.1. Central & South America (CSA) Padlocks Market, By Country (USD Million)
7.4.2. Central & South America (CSA) Padlocks Market, By Type (USD Million)
7.4.3. Central & South America (CSA) Padlocks Market, By End-Use (USD Million)
7.4.4. Brazil Padlocks Market (USD Million)
7.4.4.1. Brazil Padlocks Market, By Type (USD Million)
7.4.4.2. Brazil Padlocks Market, By End-Use (USD Million)
7.5. Middle East & Africa (MEA) Padlocks Market (USD Million)
7.5.1. Middle East & Africa (MEA) Padlocks Market, By Country (USD Million)
7.5.2. Middle East & Africa (MEA) Padlocks Market, By Type (USD Million)
7.5.3. Middle East & Africa (MEA) Padlocks Market, By End-Use (USD Million)
7.5.4. UAE Padlocks Market (USD Million)
7.5.4.1. UAE Padlocks Market, By Type (USD Million)
7.5.4.2. UAE Padlocks Market, By End-Use (USD Million)
7.5.5. South Africa Global Padlocks Market (USD Million)
7.5.5.1. Saudi Arabia Global Padlocks Market, By Type (USD Million)
7.5.5.2. Saudi Arabia Global Padlocks Market, By End-Use (USD Million)
CHAPTER 8. Key Players and Strategic Developments
8.1. Master Lock Company LLC
8.1.1. Business Overview
8.1.2. Product and Service Offering
8.1.3. Financial Overview
8.1.4. Strategic Developments
8.2. ASSA ABLOY AB
8.2.1. Business Overview
8.2.2. Product and Service Offering
8.2.3. Financial Overview
8.2.4. Strategic Developments
8.3. Zephyr Lock
8.3.1. Business Overview
8.3.2. Product and Service Offering
8.3.3. Financial Overview
8.3.4. Strategic Developments
8.4. The ABUS group
8.4.1. Business Overview
8.4.2. Product and Service Offering
8.4.3. Financial Overview
8.4.4. Strategic Developments
8.5. Stanley Black & Decker
8.5.1. Business Overview
8.5.2. Product and Service Offering
8.5.3. Financial Overview
8.5.4. Strategic Developments
8.6. Allegion PLC
8.6.1. Business Overview
8.6.2. Product and Service Offering
8.6.3. Financial Overview
8.6.4. Strategic Developments
8.7. Europa Padlock
8.7.1. Business Overview
8.7.2. Product and Service Offering
8.7.3. Financial Overview
8.7.4. Strategic Developments
8.8. Godrej & Boyce
8.8.1. Business Overview
8.8.2. Product and Service Offering
8.8.3. Financial Overview
8.8.4. Strategic Developments
8.9. Yale
8.9.1. Business Overview
8.9.2. Product and Service Offering
8.9.3. Financial Overview
8.9.4. Strategic Developments