LONDON, Dec. 19, 2016 /PRNewswire/ -- Study coverage
This report presents historical demand data (2005, 2010, 2015) plus forecasts (2020, 2025) by product and market. The study also considers market environment factors, analyzes company market share and profiles 24 US industry players such as Allegion, ASSA ABLOY, dorma+kaba, Gunnebo, Diebold, Fortune Brands Home & Security, Spectrum Brands, & Stanley Black & Decker.
US demand to rise 5.4% annually through 2020
Sales of mechanical security products are expected to rise 5.4% percent annually through 2020 to $6.1 billion. Growth will be stimulated by the large lock segment, which will benefit largely from continued gains in building construction spending. Advances in value terms will be aided by the ongoing shift to higher value electrified products, particularly door locks and door security hardware that are used with electronic access control systems. The need for electrified versions of mechanical security products will continue to rise as access control and other such systems are installed at more entry points.
Locks & door security hardware to see above average gains
Locks accounted for more than 70 percent of mechanical security product sales in 2015. Sales of door locks dominate this segment and alone accounted for 60 percent of total mechanical security demand in 2015. Door locks are also expected to see the fastest growth of any mechanical security product, driven by rising demand for doors both in new construction and repair and renovations. In value terms, sales of door locks are also aided by the rising need for more sophisticated electromagnetic locks in light of the increasing prevalence of electronic access control systems in nonresidential buildings. The relatively mature padlocks segment will register slower growth.
Sales of door security hardware, including panic hardware and exit devices, represented 10 percent of mechanical security sales in 2015 and will also generate above average sales gains. Much like door locks, sales of these products will benefit from the strong demand for doors and the increasing use of access control systems and related, more expensive electrified hardware.
Security storage equipment, such as safes and vaults, was the second largest segment in 2015 with 14 percent of sales will see slower gains going forward. The primary market for many security storage products is the financial sector, and the declining number of banking and credit union offices will restrain sales of these products. Demand for vaults will be particularly limited, as replacement sales are rare; however, some opportunities exist in new installations in other smaller applications, such as jewelry stores and in the quickly growing marijuana industry. Safes are expected to post better growth, as they benefit from a wider pool of customers and rising interest in gun safes.
Download the full report: https://www.reportbuyer.com/product/3713484/
About Reportbuyer
Reportbuyer is a leading industry intelligence solution that provides all market research reports from top publishers
http://www.reportbuyer.com
For more information:
Sarah Smith
Research Advisor at Reportbuyer.com
Email: [email protected]
Tel: +44 208 816 85 48
Website: www.reportbuyer.com
SOURCE ReportBuyer
Related Links
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article