Door Lock & Lock Set Manufacturing Market: Trends, Opportunities and Competitive Analysis [2023-2028]

Door Lock & Lock Set Manufacturing Market Trends and Forecast

The future of the door lock & lock set manufacturing market looks promising with opportunities in the lockset, deadbolt lock, and keyless lock markets. The global door lock & lock set manufacturing market is expected to reach an estimated $4.2 billion by 2028 with a CAGR of 3.9% from 2023 to 2028. The major drivers for this market are growing concern towards home safety and security, increasing need for lock sets that are simple to install and have excellent grip, and rising customer's preference for anti-theft locking solutions across the globe.

Door Lock & Lock Set Manufacturing Market

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Door Lock & Lock Set Manufacturing Market by Segment

The study includes trends and forecast for the global door lock & lock set manufacturing market by product type and region, as follows:

Door Lock & Lock Set Manufacturing Market by Product Type [Shipment Analysis by Value from 2017 to 2028]:

• Locksets
• Deadbolt Locks
• Keyless Locks
• Others

Door Lock & Lock Set Manufacturing Market by Region [Shipment Analysis by Value from 2017 to 2028]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Door Lock & Lock Set Manufacturing Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies, door lock & lock set manufacturing companies cater to increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the door lock & lock set manufacturing companies profiled in this report include:

• Assa Abloy
• Allegion
• Fortune Brands Home & Security
• Dormakaba Holding

Door Lock & Lock Set Manufacturing Market Insights

• Keyless lock is expected to witness the highest growth over the forecast period due to the growing user demand for various smart locking systems that can be controlled by a keypad, bluetooth, WiFi or via an app.
• North America is expected to witness the highest growth over the forecast period due to the increasing demand for construction, home improvement, and furniture upgrade projects and continuous expansion of smart homes in the region.

Features of the Door Lock & Lock Set Manufacturing Market

• Market Size Estimates: Door lock & lock set manufacturing market size estimation in terms of value ($B)
• Trend And Forecast Analysis: Market trends (2017-2022) and forecast (2023-2028) by various segments and regions.
• Segmentation Analysis: Door lock & lock set manufacturing market size by various segments, such as by product type and region
• Regional Analysis: Door lock & lock set manufacturing market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
• Growth Opportunities: Analysis on growth opportunities in different by product type and regions for the door lock & lock set manufacturing market.
• Strategic Analysis: This includes M&A, new product development, and competitive landscape for the door lock & lock set manufacturing market.
• Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

• Q1. What is the door lock & lock set manufacturing market size?
• Answer: The global door lock & lock set manufacturing market is expected to reach an estimated $4.2 billion by 2028.
• Q2. What is the growth forecast for door lock & lock set manufacturing market?
• Answer: The global door lock & lock set manufacturing market is expected to grow with a CAGR of 3.9% from 2023 to 2028.
• Q3. What are the major drivers influencing the growth of the door lock & lock set manufacturing market?
• Answer: The major drivers for this market are growing concern towards home safety and security, increasing need for lock sets that are simple to install and have excellent grip, and rising customer's preference for anti-theft locking solutions across the globe.
• Q4. What are the major segments for door lock & lock set manufacturing market?
• Answer: The future of the door lock & lock set manufacturing market looks promising with opportunities in the lockset, deadbolt lock, and keyless lock markets.
• Q5. Who are the key door lock & lock set manufacturing companies?
• Answer: Some of the key door lock & lock set manufacturing companies are as follows:
  • Assa Abloy
  • Allegion
  • Fortune Brands Home & Security
  • Dormakaba Holding
• Q6. In door lock & lock set manufacturing market, which region is expected to be the largest in next 5 years?
• Answer: North America is expected to witness the highest growth over the forecast period due to the increasing demand for construction, home improvement, and furniture upgrade projects and continuous expansion of smart homes in the region.
• Q7. Do we receive customization in this report?
• Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the door lock & lock set manufacturing market by product type (locksets, deadbolt locks, keyless locks, and others) and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?