Global Outdoor Safety Lock Market Analysis and Forecast 2022-2030
The global Outdoor Safety Lock Market is projected to grow at a CAGR of 16.8% during the forecast period 2022 to 2030.
Outdoor Safety Lock Market Overview:
With rapidly growing economies and developing markets, the construction industry is expected to gain traction in the coming years. Advances in technology have increased the acceptance of safety products such as outdoor safety locks. Different types of outdoor safety locks are available in the market according to types such as key locks, dial combination locks, card locks, fingerprint locks, etc.
The electronic outdoor safety lock segment is expected to gain momentum in the coming years due to its ease of operation, safety and security, and reliability. Demand for outdoor safety locks is expected to increase significantly during the forecast period, owing to recent changing consumer preference for high-end safety products.
Outdoor Safety Lock market size estimates and forecasts are provided in terms of sales volume (K units) and revenue (million USD), with historical and forecast data for the period 2017 to 2030, with 2022 being considered as the base year. This report segments the global Outdoor Safety Lock market in detail. Regional market sizes related to products by type, by application, and by player are also delivered. In estimating the size of the market, we took into account the impact of COVID-19 and other global crisis.
Significant Outdoor Safety Lock Market Dynamics:
Outdoor Safety Locks Market Drivers
Growth in the residential, commercial and industrial sectors in both developing and developed countries is expected to be the major factor responsible for the growth of the global outdoor safety locks market during the forecast period. Moreover, increasing safety concerns among consumers is expected to drive the growth of the outdoor safety locks market over the forecast period.
Apart from that, increase in automation combined with technological innovation is expected to further surge the demand for outdoor safety locks over the forecast period.
Outdoor Safety Locks Market Restraints
The high cost of electronic outdoor safety locks compared to manual locks is expected to act as a restraining factor for the growth of the outdoor safety locks market during the forecast period. Also, electrically operated outdoor safety locks may not function properly during a power outage.
This is also expected to hamper the growth of the outdoor safety locks market in the coming years. For electronic outdoor safety locks, users often need to change batteries.
Outdoor Safety Locks Market Trends
The global outdoor safety locks market is highly fragmented due to the presence of several global and regional players.
Therefore, manufacturers in the market are very focused on investing in research and development (R&D) activities to develop new, safer and more innovative locks to maintain their leadership in the market. Additionally, strong prospects for the residential, commercial and industrial sectors globally provide significant opportunities for manufacturers of outdoor safety locks.
The Outdoor Safety Lock market research report is categorized based on type, applications and region.
Market Key Players:
ASSA ABLOY (Yale), August Home, City Lock and Safe Ltd, Godrej Locking Solutions & Systems, HANMAN INTERNATIONAL PTE LTD, HAVEN Lock, Inc., Link Locks, Super Safety Services, Spectrum Brands, Inc. (Kwikset), Schlage, and others.
- Key Locks
- Dial Combination Locks (Keypad)
- Card Locks
- Fingerprint Locks
- Manual Outdoor Safety Locks
- Electronic Outdoor Safety Locks
Geographically, the global Outdoor Safety Lock market has been analysed in various regions such as North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA).
The global outdoor safety lock market is solely dependent on the growth of end-use segments across all regions. Increasing infrastructure spending in developing countries such as China and India is expected to boost the construction industry in Asia Pacific. Therefore, Asia Pacific is expected to witness high growth rate in the global outdoor safety locks market during the forecast period. Some countries in Latin America are expected to experience economic growth, which will propel the growth of the construction industry and outdoor safety locks market.
Western Europe is expected to grow at a significant CAGR during the forecast period, owing to surge in demand for outdoor safety locks from growing industrial segments. Middle East & Africa is expected to grow at a significant CAGR over the forecast period, owing to increasing safety concerns among consumers in these regions.
- North America
- Rest of North America
- Nordic Countries
- Benelux Union
- The Netherlands
- Rest of Europe
- South Korea
- Southeast Asia
- Rest of Southeast Asia
- Rest of Asia-Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Rest of Latin America
Outdoor Safety Lock Market report scope
Key Takeaways from this Outdoor Safety Lock Report
- Estimate Outdoor Safety Lock market potential through analysing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level - for product types, applications and by different industry verticals.
- Understand the supply chain in depth on the value growth at each step, in order to optimize value and bring effectiveness in your processes.
- Know the different dynamics affecting the market - challenges, key driving factors and opportunities.
- Get a quick viewpoint on the Outdoor Safety Lock market entropy - M&A's, deals, partnerships, product launches of all key companies for the historical 5 years.
- Estimate the supply-demand gaps, import-export data and regulatory landscape for more than top 20 countries worldwide for the market.
- Get complete insights on your competitor performance - market shares, strategies, financial benchmarking, product benchmarking, SWOT and more.
- Study the sales and distribution channels over key geographies to improve top-line revenues.
Frequently Asked Questions
At what CAGR is the Outdoor Safety Lock market projected to grow in the forecast period 2022 to 2030?
What are the types of Outdoor Safety Lock market?
What are the applications of Outdoor Safety Lock market?
Who are the top players in Outdoor Safety Lock market?
Which application segment is expected to drive the growth of the Outdoor Safety Lock market in the next 5 years?
Which are the key deployments types adopting Outdoor Safety Lock market?