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Global Mortise Locks Market Share, Size, Analysis, Growth, Forecast: By Product Type: Skeleton Key Mortise Lock, Side Plate Mortise Lock; By Distribution Channel: Hypermarkets and Supermarkets, Retail Stores, Online, Others; By Application: Offices, Hotels and Hospitals, Residential, Others; Regional Analysis; Competitive Landscape; 2024-2032
Global Mortise Locks Market Outlook
The global mortise locks market size attained a value of USD 8.52 billion in 2023. The market is further expected to grow at a CAGR of 5.50% between 2024 and 2032, to reach a value of USD 13.77 billion by 2032.
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Key Trends in the Market
Mortise locks are the types of locks which are located at the edge of a door and have a sliding bar attached to them. This sliding bar is moved when the key is put inside a keyhole. Mortise locks are made up of various mechanical parts which are enclosed in a strong-gauge case made of steel.
- The global mortise locks market is being driven by the escalation of the commercial applications of these locks owing to the increasing safety concerns across hospitals, hotels, and educational institutions, among others.
- Increasing demand from residential sector, fuelled by rising number of occupants in the semi-urban areas, is propelling the market numbers. In addition, increasing concerns pertaining to the security of geriatrics is further augmenting the mortise locks market.
- The rapid transition from traditional cylindrical locks to mortise locks because of their hard-to-open nature and greater reliability, is expected to accelerate the market growth in the forecast period.
Market Analysis
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Based on product type, the market can be segmented into skeleton key mortise lock and side plate mortise lock. On the basis of distribution channel, the market can be classified into hypermarkets and supermarkets, retail stores, and online, among others. By application, the market has been segmented into offices, hotels and hospitals, residential, and educational institutions, among others. The regional markets can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global mortise locks market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.
- Dormakaba International Holding AG
- Lockwood Industries Inc.
- Sargent Manufacturing Company (ASSA ABLOY Group)
- Franz Schneider Brakel GmbH + Co KG
- Security Snobs
- Others
Market Share by Distribution Channel
Based on distribution channel, the retail stores segment accounts for a significant share in the mortise locks market. The growth of this segment can be attributed to the greater convenience, easy accessibility, and better reliability offered by hardware shops to the customers. Through retail shops, customers can physically test the working of a door lock and clear doubts. In addition, retail shops can offer recommendations about new arrivals, decorations, and better options at reasonable costs, which can bolster customer satisfaction without any waiting. Meanwhile, the online segment is expected to witness a good growth in the forecast period due to the increasing consumer preference towards online shopping.
Market Share by Application
Residential applications account for a healthy share of the mortise locks market owing to the increasing safety concerns among populations worldwide, particularly geriatrics. Growing efforts by building contractors to improve the security systems of houses and apartments are leading to a greater demand for mortise locks from the residential sector. In addition, the increasing disposable income, rapid urbanisation, and growing population are leading to an escalated development of apartments and houses which are further propelling the segment’s growth, leading to a healthy growth of the market for mortise locks.
Hotel and hospitals segment are expected to witness a steady growth in the forecast period due to the rising demand for mortise locks from hospitals and 3-star, 5-star hotels to bolster the safety of the occupants.
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Competitive Landscape
Dormakaba International Holding AG is a leading mechanical and electronic security systems provider which manufactures door lock systems, master keys, and walls, which cater to the security demands of various end-use sectors including residential and commercial. The company was founded in the year 2015 and is currently headquartered in Rümlang, Switzerland.
Lockwood Industries Inc. is a leading hardware architecture products manufacturer. The product portfolio of this company includes high speed progressive dies, moulds, fixtures, metal stamping, fabrication materials, and rollforming machines, among others. Lockwood Industries Inc. was founded in the year 1878 and is currently headquartered in Ontario, Canada.
Sargent Manufacturing Company (ASSA ABLOY Group) was established in early 1800s and is headquartered in Connecticut, United States. It is a prominent manufacturer of hardware and locking products, and a producer and innovator of door locking solutions. The company caters to the security demands from various end-use industries by providing efficient door locking systems.
Other market players include Franz Schneider Brakel GmbH + Co KG, and Security Snobs, among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Product Type |
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| Breakup by Distribution Channel |
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| Breakup by Application |
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| Breakup by Region |
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| Market Dynamics |
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| Trade Data Analysis |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Mortise Locks Market Analysis
8.1 Key Industry Highlights
8.2 Global Mortise Locks Historical Market (2018-2023)
8.3 Global Mortise Locks Market Forecast (2024-2032)
8.4 Global Mortise Locks Market by Product Type
8.4.1 Skeleton Key Mortise Lock
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2023)
8.4.1.3 Forecast Trend (2024-2032)
8.4.2 Side Plate Mortise Lock
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2023)
8.4.2.3 Forecast Trend (2024-2032)
8.5 Global Mortise Locks Market by Distribution Channel
8.5.1 Hypermarkets and Supermarkets
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2023)
8.5.1.3 Forecast Trend (2024-2032)
8.5.2 Retail Stores
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2023)
8.5.2.3 Forecast Trend (2024-2032)
8.5.3 Online
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2018-2023)
8.5.3.3 Forecast Trend (2024-2032)
8.5.4 Others
8.6 Global Mortise Locks Market by Application
8.6.1 Offices
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2018-2023)
8.6.1.3 Forecast Trend (2024-2032)
8.6.2 Hotels and Hospitals
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2018-2023)
8.6.2.3 Forecast Trend (2024-2032)
8.6.3 Residential
8.6.3.1 Market Share
8.6.3.2 Historical Trend (2018-2023)
8.6.3.3 Forecast Trend (2024-2032)
8.6.4 Educational Institutions
8.6.4.1 Market Share
8.6.4.2 Historical Trend (2018-2023)
8.6.4.3 Forecast Trend (2024-2032)
8.6.5 Others
8.7 Global Mortise Locks Market by Region
8.7.1 North America
8.7.1.1 Market Share
8.7.1.2 Historical Trend (2018-2023)
8.7.1.3 Forecast Trend (2024-2032)
8.7.2 Europe
8.7.2.1 Market Share
8.7.2.2 Historical Trend (2018-2023)
8.7.2.3 Forecast Trend (2024-2032)
8.7.3 Asia Pacific
8.7.3.1 Market Share
8.7.3.2 Historical Trend (2018-2023)
8.7.3.3 Forecast Trend (2024-2032)
8.7.4 Latin America
8.7.4.1 Market Share
8.7.4.2 Historical Trend (2018-2023)
8.7.4.3 Forecast Trend (2024-2032)
8.7.5 Middle East and Africa
8.7.5.1 Market Share
8.7.5.2 Historical Trend (2018-2023)
8.7.5.3 Forecast Trend (2024-2032)
9 North America Mortise Locks Market Analysis
9.1 United States of America
9.1.1 Market Share
9.1.2 Historical Trend (2018-2023)
9.1.3 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Market Share
9.2.2 Historical Trend (2018-2023)
9.2.3 Forecast Trend (2024-2032)
10 Europe Mortise Locks Market Analysis
10.1 United Kingdom
10.1.1 Market Share
10.1.2 Historical Trend (2018-2023)
10.1.3 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Market Share
10.2.2 Historical Trend (2018-2023)
10.2.3 Forecast Trend (2024-2032)
10.3 France
10.3.1 Market Share
10.3.2 Historical Trend (2018-2023)
10.3.3 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Market Share
10.4.2 Historical Trend (2018-2023)
10.4.3 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Mortise Locks Market Analysis
11.1 China
11.1.1 Market Share
11.1.2 Historical Trend (2018-2023)
11.1.3 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Market Share
11.2.2 Historical Trend (2018-2023)
11.2.3 Forecast Trend (2024-2032)
11.3 India
11.3.1 Market Share
11.3.2 Historical Trend (2018-2023)
11.3.3 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Market Share
11.4.2 Historical Trend (2018-2023)
11.4.3 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Market Share
11.5.2 Historical Trend (2018-2023)
11.5.3 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Mortise Locks Market Analysis
12.1 Brazil
12.1.1 Market Share
12.1.2 Historical Trend (2018-2023)
12.1.3 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Market Share
12.2.2 Historical Trend (2018-2023)
12.2.3 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Market Share
12.3.2 Historical Trend (2018-2023)
12.3.3 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Mortise Locks Market Analysis
13.1 Saudi Arabia
13.1.1 Market Share
13.1.2 Historical Trend (2018-2023)
13.1.3 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Market Share
13.2.2 Historical Trend (2018-2023)
13.2.3 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Market Share
13.3.2 Historical Trend (2018-2023)
13.3.3 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Market Share
13.4.2 Historical Trend (2018-2023)
13.4.3 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Trade Data Analysis (HS Code- 830130)
15.1 Major Exporting Countries
15.1.1 By Value
15.1.2 By Volume
15.2 Major Importing Countries
15.2.1 By Value
15.2.2 By Volume
16 Price Analysis
17 Competitive Landscape
17.1 Market Structure
17.2 Company Profiles
17.2.1 Dormakaba International Holding AG
17.2.1.1 Company Overview
17.2.1.2 Product Portfolio
17.2.1.3 Demographic Reach and Achievements
17.2.1.4 Certifications
17.2.2 Lockwood Industries Inc.
17.2.2.1 Company Overview
17.2.2.2 Product Portfolio
17.2.2.3 Demographic Reach and Achievements
17.2.2.4 Certifications
17.2.3 Sargent Manufacturing Company (ASSA ABLOY Group)
17.2.3.1 Company Overview
17.2.3.2 Product Portfolio
17.2.3.3 Demographic Reach and Achievements
17.2.3.4 Certifications
17.2.4 Franz Schneider Brakel GmbH + Co KG
17.2.4.1 Company Overview
17.2.4.2 Product Portfolio
17.2.4.3 Demographic Reach and Achievements
17.2.4.4 Certifications
17.2.5 Security Snobs
17.2.5.1 Company Overview
17.2.5.2 Product Portfolio
17.2.5.3 Demographic Reach and Achievements
17.2.5.4 Certifications
17.2.6 Others
18 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Mortise Locks Market: Key Industry Highlights, 2018 and 2032
2. Global Mortise Locks Historical Market: Breakup by Product Type (USD Million), 2018-2023
3. Global Mortise Locks Market Forecast: Breakup by Product Type (USD Million), 2024-2032
4. Global Mortise Locks Historical Market: Breakup by Distribution Channel (USD Million), 2018-2023
5. Global Mortise Locks Market Forecast: Breakup by Distribution Channel (USD Million), 2024-2032
6. Global Mortise Locks Historical Market: Breakup by Application (USD Million), 2018-2023
7. Global Mortise Locks Market Forecast: Breakup by Application (USD Million), 2024-2032
8. Global Mortise Locks Historical Market: Breakup by Region (USD Million), 2018-2023
9. Global Mortise Locks Market Forecast: Breakup by Region (USD Million), 2024-2032
10. North America Mortise Locks Historical Market: Breakup by Country (USD Million), 2018-2023
11. North America Mortise Locks Market Forecast: Breakup by Country (USD Million), 2024-2032
12. Europe Mortise Locks Historical Market: Breakup by Country (USD Million), 2018-2023
13. Europe Mortise Locks Market Forecast: Breakup by Country (USD Million), 2024-2032
14. Asia Pacific Mortise Locks Historical Market: Breakup by Country (USD Million), 2018-2023
15. Asia Pacific Mortise Locks Market Forecast: Breakup by Country (USD Million), 2024-2032
16. Latin America Mortise Locks Historical Market: Breakup by Country (USD Million), 2018-2023
17. Latin America Mortise Locks Market Forecast: Breakup by Country (USD Million), 2024-2032
18. Middle East and Africa Mortise Locks Historical Market: Breakup by Country (USD Million), 2018-2023
19. Middle East and Africa Mortise Locks Market Forecast: Breakup by Country (USD Million), 2024-2032
20. Major Exporting Countries by Value
21. Major Importing Countries by Value
22. Major Exporting Countries by Volume
23. Major Importing Countries by Volume
24. Global Mortise Locks Market Structure
Key Questions Answered in the Report
The market reached a value of USD 8.52 billion in 2023.
The mortise locks market is estimated to grow at a CAGR of 5.50% in the forecast period of between 2024 and 2032 to reach a value of USD 13.77 billion by 2032.
The increasing demand for mortise locks from the residential sector owing to the rising standards of living and increasing safety awareness, and growing security demands from hotels and hospitals, are the major drivers of the market.
The key trends in the market include the rapid transition from traditional cylindrical locks to mortise locks because of their hard-to-open nature and greater reliability, and increasing adoption in regions with high crime rates.
Skeleton key mortise lock and side plate mortise lock are the different product types included in the market.
The major distribution channels included in the market report are hypermarkets and supermarkets, retail stores, and online, among others.
Offices, hotels and hospitals, residential, and educational institutions, among others, are the different applications included in the market report.
Mortise locks are considered to be more secure than deadbolts as they require a pocket to be cut into the door, which supports a thicker and longer mortise box to be fitted, offering greater security.
Mortise locks are versatile in architectural settings, are long lasting, and provide more leverage and extra security.
Dormakaba International Holding AG, Lockwood Industries Inc., Sargent Manufacturing Company (ASSA ABLOY Group), Franz Schneider Brakel GmbH + Co KG, and Security Snobs, among others, are the key market players, according to the report.
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