PUBLISHER: The Business Research Company | PRODUCT CODE: 1703032
PUBLISHER: The Business Research Company | PRODUCT CODE: 1703032
A cam lock is a type of locking mechanism widely utilized to secure doors, drawers, cabinets, and panels. It comprises a cylindrical base housing a cam, a rotating metal piece serving as the locking component. The primary function of a cam lock is to offer a straightforward, secure, and dependable means of locking and unlocking various items, safeguarding their contents from unauthorized access.
The main types of cam locks include electronic cam locks, magnetic cam locks, padlockable cam locks, and others. Electronic cam locks utilize electronic mechanisms, such as keypads or RFID technology, to secure cabinets or enclosures, often providing keyless entry and accommodating multiple user codes for enhanced security. These locks are mounted in various ways, including surface mount, through hole, and others, and are manufactured from materials such as stainless steel, brass, aluminum, among others. They find application in diverse settings such as metal and wooden furniture, mailboxes, automotive accessories, lockers, windows, doors, and more.
The cam locks market research report is one of a series of new reports from The Business Research Company that provides cam locks market statistics, including cam locks industry global market size, regional shares, competitors with a cam locks market share, detailed cam locks market segments, market trends and opportunities, and any further data you may need to thrive in the cam locks industry. This cam locks market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The cam locks market size has grown strongly in recent years. It will grow from $2.49 billion in 2024 to $2.66 billion in 2025 at a compound annual growth rate (CAGR) of 6.8%. The growth in the historic period can be attributed to evolution of security standards, increase in demand for customizable locking system, expansion of industrial and commercial sectors, globalization of trade facilitating market growth, and historical shifts in consumer preferences.
The cam locks market size is expected to see strong growth in the next few years. It will grow to $3.44 billion in 2029 at a compound annual growth rate (CAGR) of 6.6%. The growth in the forecast period can be attributed to expanding e-commerce industry, growing adoption of smart locks in residential and commercial sectors, propelling demand for high-security locking systems, surge in industrial automation, and expanding applications in industries. Major trends in the forecast period include rising adoption of electronic and smart locking systems, growing emphasis on product innovation and customization, surging popularity of cloud-based access control solutions, integration of IoT capabilities for remote monitoring, and advancements in keyless entry technology.
The growth of the construction industry is expected to drive the expansion of the cam lock market. Construction involves the process of building, assembling, or creating infrastructure, buildings, and other structures. The construction sector is growing due to factors such as urbanization, infrastructure development, population growth, economic progress, and technological innovations, all contributing to the rising demand for buildings and infrastructure. This growth in the construction industry boosts the cam lock market by increasing the need for security solutions in building projects. Cam locks play a vital role in various construction settings, promoting innovation and market expansion. For example, a report from the United States Census Bureau shows that construction spending rose from $1,768.2 billion in March 2022 to $1,834.7 billion in March 2023, reflecting a 3.8% increase. Additionally, according to the Office for National Statistics, the UK experienced a 5.6% annual growth in construction output in 2022, building on a 12.8% increase in 2021. Therefore, the growth of the construction industry is fueling the cam lock market's expansion.
Leading companies in the cam lock market are embracing advanced technologies to introduce innovative cam locks such as biometric authentication cam locks, aimed at enhancing security and meeting the escalating demand for sophisticated locking solutions. Biometric authentication in cam locks utilizes unique biological characteristics such as fingerprints or eye scans for identity verification before granting access authorization. For example, in December 2023, Godrej Security Solutions, an India-based security solutions manufacturer and marketer, launched the NX Pro Plus, NX Advanced, and Verge Series home lockers, featuring digital and biometric access options. These lockers, with the capacity to store up to 30 fingerprints, boast a stylish modular design and are easily adaptable to residential settings. They offer dual-mode access, voice guidance, and a built-in alarm, blending advanced technology with classic design to ensure enhanced security and convenience. This technology aims to enhance convenience while safeguarding valuables.
In November 2023, ASSA ABLOY, a Sweden-based leader in access solutions, acquired Securitech Group Inc. for an undisclosed sum. This strategic move bolsters ASSA ABLOY's position in mature markets by integrating complementary products and solutions into its core business. Securitech Group Inc., a US-based manufacturer of high-security mechanical and electronic door hardware products, adds value to ASSA ABLOY's offerings through this acquisition.
Major companies operating in the cam locks market are Assa Abloy AB, Allegion, Rittal, Southco Inc., Richelieu Hardware, Hafele America Co., Master Lock, Emka Inc., The Eastern company, Keyline USA, Sugatsune Kogyo, CompX Security Products, Olympus Lock Inc., Dira Inc., Capitol Industries Inc., Lowe & Fletcher Ltd, Camlock Systems Ltd., Sinox company Ltd, Zephyr Lock, VanLock, Ningbo Wangtong Locks Co. Ltd., Industrilas, JK Lock Co. Ltd, American Lock Company
North America was the largest region in the cam locks market in 2024. The regions covered in the cam locks market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the cam locks market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The cam locks market consists of sales of entire cam lock assemblies, including the lock cylinder, cam, and associated keys or access methods commonly utilized to secure doors, cabinets, mailboxes, and diverse enclosures. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Cam Locks Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on cam locks market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for cam locks ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The cam locks market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.