Mortise Locks Market Analysis by Trends, Size, Share, Company Overview, Growth and Forecast by 2029

The global mortise locks market size is anticipated to witness a growth spurt in the upcoming years. The rising instances of theft or uncertain commercial and private property loss augment the demand for anti-theft solutions. The high demand for security and safety products is predicted to augment the growth of the mortise locks market. Fortune Business Insights™ has presented this information in an upcoming report, titled, “Mortise Locks Market, 2022-2029”.

The Safe Home Organization estimates that approximately 10 million people were willing to buy a home security system in America as of May 2020. These numbers shall rise and complement the market growth in the future.

COVID-19 Impact-

The global pandemic has potentially boosted the demand for mortise locks worldwide. The stringent lockdowns imposed by the governments of several nations caused the shutdown of several manufacturing plants, commercial spaces, and so on. The need for security and surveillance has increased during the pandemic. The need to maintain high security in shutdown plants and other spaces has boosted the demand for mortise locks as they offer higher door safety. The pandemic is expected to last for a long time, and thus the market is expected to grow rapidly.

Get Sample PDF Brochure:

https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/mortise-locks-market-104416

Fortune Business Insights™ lists out all the mortise locks market companies that are presently striving to reduce the impact of Covid-19 pandemic on the market:

  • Dormakaba Group
  • Lockwood Industries
  • Master Lock Company LLC
  • ASSA ABLOY Group Company
  • Emtek Products Inc.
  • Kwikset Security Snobs

Segmentation-

Based on product type, the market is bifurcated into side plate mortise locks and skeleton key mortise locks. Based on applications, the market is segmented into hotels & hospitals, educational institutes, offices, residential, and others. On the basis of distribution channels, the market fragments into online, hypermarkets/supermarkets, retail stores, and others. Geographically, the market is classified into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.

Report Coverage-

  • It incorporates data triangulation based on top-down and bottom-up approaches.
  • It contains details on revenues, growth rate, strategies, and more.
  • The report highlights the latest technological trends and new product developments.
  • It highlights the impact of COVID-19 and suggests measures and strategies to prosper in the approaching years.

 Inquiry before Buying:

https://www.fortunebusinessinsights.com/enquiry/queries/mortise-locks-market-104416

Drivers & Restraints-

Rising Demand for Advanced Security Systems to Fuel Market Growth

The rising consumer awareness regarding security systems availability and the rising need for security systems across commercial spaces and households are projected to bolster the global mortise locks market growth. Additionally, the rising infrastructural facilities such as educational institutes, hotels & restaurants, financial & banking services, and research centers have escalated the demand for security systems and corresponding accessories. They are expected to stimulate market growth.

The rising remodeling and renovation activities across commercial and residential sectors have resulted in newer door locking systems. Product developments such as waterproof and rust-free door locks and the incorporation of the latest technologies are projected to boost the market growth of mortise locks in the upcoming years.

The growing demand for anti-theft solutions due to the rising instances of theft and uncertain commercial and private property loss is estimated to stimulate the growth of the market.

However, the widely available substitute products may hinder market growth.

Regional Insights-

North America to Bestride the Global Market Stoked by Demand for Novel Features

North America is predicted to emerge dominant in terms of the global mortise locks market share. The rising demand for advanced door safety features and the rising construction of smart homes is expected to fuel market growth. Additionally, major manufacturing firms such as Accurate, Nostalgic Warehouse, Emtek Products Inc., and others are projected to augment the growth of the market.

Asia Pacific is anticipated to witness rapid growth in the forthcoming years. The rising construction of housing facilities in India, Singapore, and China is estimated to be the major growth propellant for the market. As per the Royal Institution of Chartered Surveyors (RICS), Singapore produces nearly 25,000 public housing units per annum. The improving living standards augment the demand for smart lock systems, including mortise locks. Additionally, the rising product consumption from the increasing hotel and restaurant chains is expected to fuel the market growth in the future.

Competitive Landscape-

Key Players Focus on Organic Growth Strategies to Intensify Competition

The global mortise locks market comprises a few key players operating at regional and global levels. They are primarily focusing on organic growth strategies such as new product launches, technological developments, product innovations, and patents to increase their revenues and enhance their consumer base. Recently, Dormakaba Group and Dwelo Inc. collaborated to launch a new smart door lock solution for smart homes in March 2020. The lock features contactless RFID reader technology and has seamless metal finishing.

Ask for Customization:

https://www.fortunebusinessinsights.com/enquiry/customization/mortise-locks-market-104416

About Us:

Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.

Address:

Fortune Business Insights Pvt. Ltd.9th Floor, Icon Tower, Baner –

Mahalunge Road, Baner, Pune-411045,

Maharashtra, India.

Phone:

US: +1 424 253 0390

UK: +44 2071 939123

APAC: +91 744 740 1245

Email: sales@fortunebusinessinsights.com

LinkedIn Facebook Twitter

Comments

Post a Comment

Popular posts from this blog

Sport Guns Market Analysis by Trends, Size, Share, Company Overview, Growth and Forecast by 2029

The global sport guns market size is expected to gain momentum owing to the growing number of prominent sporting events during the forecast period. This information is published by Fortune Business Insights™ in an upcoming report, titled, “ Sport Guns Market, 2021-2028 .” The sports events such as Olympics, Asian Games, Commonwealth, and others. The rising number of sports enthusiasts being influenced by big-level events happening around the globe is the major contributing factor. Additionally, a growing number of people are playing video games online, and interested in action movies are moving toward shooting as a hobby. For instance, according to an American Institute of Physics data release, in 2019, three-quarters of American households have one gamer in their house, and 70% of families have a kid who plays video games. COVID-19 Impact- Supply Chain Disruption to Hamper the Market The COVID-19 outbreak caused significant disruption in the sport guns supply chain. Due to severe
Read more

Smart Wheelchairs Market Share, Demand, Top Players, Industry Size, Future Growth By 2029

The global smart wheelchairs market size is expected to gain momentum owing to the growing awareness regarding the availability of innovative wheelchairs during the forecast period. This information is published by Fortune Business Insights™ in an upcoming report, titled, “ Smart Wheelchairs Market, 2022-2029 .” Over the projected period, emerging nations such as India are considered major income drivers for wheelchair makers. The country has one of the highest rates of traffic accidents in the world, with several individuals injured or killed. It also has one of the world's largest populations of disabled people. The region is still at an embryonic stage in terms of wheelchair accessibility and consumption; however, with increasing public awareness and favorable government measures, the need for a wheelchair is likely to increase in the coming years. According to the World Health Organization (WHO), around 15.0 percent (or 1 billion) of the world population has a disability that
Read more

Wet Shaving Products Market Share, Demand, Top Players, Industry Size, Future Growth By 2029

 The global wet shaving products market size is projected to make remarkable progress owing to the rising demand for personal grooming products across the world, finds Fortune Business Insights™ in its report, titled “ Wet Shaving Products   Market, 2022-2029 ”. In recent years, there has been an increasing demand for personal grooming products such as shaving brushes, gels, lotions, and others among the world population owing to their wide availability across several distribution channels such as online stores, retail stores, and others. This is a major factor contributing to the growth of this market during the forecast period. Further, the shaving cream helps to reduce the risk of redness, razor burn, and irritation to the skin, which has resulted in high demand for such products across several regions of this market. However, the increasing incidents of skin irritation during the use of wet shaving products are projected to hamper the growth of this market. COVID-19 Impact: Wit
Read more