Cylindrical Door Lock Market Scope
The cylindrical door lock is a specially designed lock that goes through the door, this unique specialty of the lock makes it different from others type of locks. This lock is more feasible to use hence, it replaced the old lock design of door. One end point of the lock has knob or lever attached to it, which retracts the latch when it is turned or pressed. This is a highly preferred lock system for doors and its usage is increasing progressively due to rise in electronic advancement and ease of use. This lock is installed by a boring method and has a two-fold locking mechanism. It helps to guard the safety of the door and acts as an armor that protects from misuse and enables proper authentication to access for the desired user. The commercial and residential sector has been witnessing an increase in usage of the cylindrical door lock in recent years due to safety and security concerns.
Attributes | Details |
---|
Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | ASSA ABLOY (Sweden), DORMA (Germany), Allegion (Ireland), Hafele (Germany), Stanley Black & Decker (United States), Masco Corporation (United States), Baldwin Hardware (United States), Schlage (United States), Kwikset (United States) and Emtek (United States) |
CAGR | % |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Research Analyst at AMA estimates that United States Vendors will contribute to the maximum growth of Global Cylindrical Door Lock market throughout the predicted period.
ASSA ABLOY (Sweden), DORMA (Germany), Allegion (Ireland), Hafele (Germany), Stanley Black & Decker (United States), Masco Corporation (United States), Baldwin Hardware (United States), Schlage (United States), Kwikset (United States) and Emtek (United States) are some of the key players that are part of study coverage.
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Cylindrical Door Lock market by Type , by Application (Household and Commercial) and Region with country level break-up.
On the basis of geography, the market of Cylindrical Door Lock has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2022.
Market Leaders and their expansionary development strategies
In October 2023, Yale Security, a part of ASSA ABLOY Entrance Systems, announced the launch of its new Yale Real Living Assure Lock L1, a smart lock that features a touchscreen keypad and a built-in fingerprint sensor. The new lock also features a slim and modern design.
In November 2023, Schlage, a brand of Allegion plc, announced the launch of its new Schlage Encode Plus Smart Wi-Fi Deadbolt, a smart lock that can be locked and unlocked from anywhere using a smartphone. The new lock also features built-in voice assistant compatibility and access control features.
Influencing Trend:
Rising Adoption in Non-Residential Application
Market Growth Drivers:
Rising Urban Population
Challenges:
Lack of Technology Awareness in Rural Area
Restraints:
Finger Print Locks are in Demand Owing to Their Reliability
Opportunities:
Growth in Commercial and Hospitality Sector
Key Target Audience
Cylindrical Door Lock Manufacturer, Cylindrical Door Lock Providers, Government Agencies and Potential Investors