About Cylindrical Locks
The cylindrical door lock is a specially designed lock that goes through the door. This unique specialty of the locksets it apart from other types of locks. This lock is more practical to use, so it replaces the old lock design of the door. A button or lever is attached to one endpoint of the lock, which pulls the bolt back when turned or pressed. This is a very preferred locking system for doors and its use continues to grow due to the increasing electronic advancement and ease of use. This lock is installed by a drilling method and has a dual locking mechanism. It protects the security of the door and acts as armor that protects against abuse and allows proper authentication to the desired user. In the commercial and home sectors, the use of the cylindrical door lock has increased in recent years due to security concerns.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products, and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Cylindrical Locks market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Dorma (Germany), Master Lock (United States), Godrej Group (India), PDQ (United States), Corbin Russwin (United States), Medeco (United States), Stanley Security Solutions, Inc. (United States), ASSA ABLOY Group (Sweden), Kwikset (United States), Lockwood Industries Inc. (Canada) and Emtek Products, Inc. (United States) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Cylindrical Locks market by Type (Knob Locksets and Lever Locksets), Application (Commercial, Industrial, Residential and Others) and Region.
On the basis of geography, the market of Cylindrical Locks 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). If we see Market by Lock Type, the sub-segment i.e. Mortise Lock will boost the Cylindrical Locks market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Distribution Channel, the sub-segment i.e. Hypermarket will boost the Cylindrical Locks market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End-Use, the sub-segment i.e. Private Homes will boost the Cylindrical Locks market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Expansion of Commercial and Residential Sector, Antitheft Features for Security, Easy To Handle and Use of Locking Applications in Interior Decoration
Market Growth Drivers:
Increasing Urbanization and Consumer Preference for Security, The Rise in Electronic Advancement and Increase in Usage of the Cylindrical Lock
Challenges:
Advancement in Digital Lock
Restraints:
High Prices of Cylindrical Lock
Opportunities:
An Increase in Demand for Door Safety and Security System and Growing Innovation of Cylindrical Lock by New Design and Technology
Market Leaders and their expansionary development strategies
In October 2023, ASSA ABLOY, a global leader in access solutions, announced that it has acquired the business of Yale Security, a leading manufacturer of locks and hardware, for USD 2.1 billion. The acquisition is expected to strengthen ASSA ABLOY's position in the North American market and expand its product portfolio.
In October 2023, Kwikset, another leading manufacturer of residential security products, announced the launch of its Halo Smart Lock with In-Home Delivery, a smart lock that allows homeowners to grant secure access to their homes to delivery personnel without being home. The lock also features built-in security features, such as a tamper-resistant keypad and a double-locking mechanism.
Key Target Audience
Manufacturers of Cylindrical Locks, Suppliers and Distributors of Cylindrical Locks, End-Users, Potential Investors, Regulatory Bodies, Market Research Firms and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.