Mortise Locks Market Outlook
According to a new report by Expert Market Research titled, “Global Mortise Locks Market Size, Share, Analysis, Report and Forecast 2024-2032″,, the global mortise locks market reached a value of USD 8.52 billion in 2023. Aided by the escalating demands for enhanced security solutions and the burgeoning construction sector worldwide, the market is projected to further grow at a CAGR of 5.50% between 2024 and 2032 to reach a value of USD 13.77 billion by 2032.
Mortise locks, known for their installation within the door itself, offer superior strength and reliability compared to their cylindrical counterparts. These locks find extensive application in commercial, residential, and industrial settings, owing to their ability to withstand high usage while maintaining integrity and security.
The global mortise locks market growth is driven by a confluence of factors. Primarily, the global uptick in construction activities, especially in emerging economies, has significantly contributed to the demand for mortise locks. Urbanisation and the expansion of the real estate sector have further catalysed this demand, with an increasing number of commercial and residential projects seeking advanced locking mechanisms for enhanced security.
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Technological advancements in lock mechanisms and access control systems have also propelled the mortise locks market demand. Innovations such as smart locks, which offer keyless entry and integration with home automation systems, are setting new trends in the mortise locks market. These advancements cater to the growing consumer demand for convenience without compromising on security.
Moreover, the rising awareness regarding home and workplace security, spurred by an uptick in property-related crimes, has emphasised the need for reliable locking systems. Mortise locks, with their robust design and tamper-resistant features, stand out as a preferred choice for many seeking to fortify their premises.
The market is witnessing a wave of innovation, with manufacturers focusing on integrating smart technology into traditional lock designs. According to the mortise locks market analysis, features such as biometric access, remote locking and unlocking via smartphone apps, and real-time security alerts are becoming increasingly common. These technological enhancements not only offer improved security but also add to the user convenience, making mortise locks more adaptable to modern living and working environments.
The shift towards smart homes and the integration of IoT (Internet of Things) devices in residential and commercial settings present significant opportunities for the market. As buildings become more intelligent, the demand for advanced security solutions that can seamlessly integrate with other smart systems is expected to rise, offering ample growth prospects for market players.
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Mortise Locks Market Segmentation
The market can be divided based on product type, distribution channel, application, and region.
Market Breakup by Product Type
- Skeleton Key Mortise Lock
- Side Plate Mortise Lock
Market Breakup by Distribution Channel
- Hypermarkets and Supermarkets
- Retail Stores
- Online
- Others
Market Breakup by Application
- Offices
- Hotels and Hospitals
- Residential
- Educational Institutions
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global mortise locks market. Some of the major players explored in the report by Expert Market Research are as follows:
- Dormakaba International Holding AG
- Lockwood Industries Inc.
- Sargent Manufacturing Company (ASSA ABLOY Group)
- Franz Schneider Brakel GmbH + Co KG
- Security Snobs
- Others
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