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US Mechanical Security Product Industry

  • February 2016
  • -
  • Freedonia
  • -
  • 219 pages

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.

Table Of Contents

US Mechanical Security Product Industry
EXecutive Summary
1 Summary Table
MArket Environment
Demographic and Social Environment
Demographic Trends
Employment Trends
Macroeconomic Outlook
Building Construction Outlook
Residential Building Construction
Nonresidential Building Construction
Building Stock Trends
Residential Building Stock
Nonresidential Building Stock
Business Establishment Trends
Consumer Spending Outlook
Public Safety Environment
Violent Crimes
Property Crimes
Terrorism and Other Nonconventional Crimes
Terrorism
Other Nonconventional Crimes
Legal and Regulatory Environment
Pricing Dynamics
World Mechanical Security Markets
Foreign Trade
LIST OF TABLES and CHARTS:
1 Population and Households
2 Employment Outlook
3 Macroeconomic Indicators
4 Building Construction Expenditures
5 Residential Building Construction
Expenditures
6 Nonresidential Building Construction
Expenditures
7 Housing Stock by Type
Cht Year of Construction of
Housing Stock, 2015
8 Nonresidential Building Stock
9 Business Establishments
10 Personal Consumption Expenditures
11 Violent Crime Levels
12 Property Crime Levels
Cht US Crime Rates, 2005-2015
13 Incidences of Terrorism
in the US, 2005-2014
14 Selected Other Crimes
15 US Foreign Trade in Mechanical
Security Products
Cht World Mechanical Security Product
Market by Region, 2015
PRODUCTS
Locks
Door Locks
Mechanical
Electromechanical
Padlocks
Keyed
Keypad/Combination
Other Locks
Storage Security Equipment
Safes
Vaults
Other Security Storage
Door Security Hardware
Exit Devices
Other
Key Blanks
Other
LIST OF TABLES and CHARTS:
1 Mechanical Security Product
Supply and Demand
Cht Mechanical Security Product
Demand by Type, 2015
2 Lock Supply and Demand
Cht Lock Demand by Type, 2015
3 Door Lock Supply and Demand
Cht Door Lock Demand by Type, 2005-2015
4 Mechanical Door Lock Demand
Cht Mechanical Door Lock Demand
by Access Type, 2005-2015
5 Electromechanical Door Lock Demand
Cht Electromechanical Door Lock Demand
by Access Type, 2005-2015
6 Padlock Supply and Demand
7 Other Lock Supply and Demand
8 Security Storage Equipment
Supply and Demand
Cht Security Storage Equipment
Demand by Type, 2015
9 Safe Supply and Demand
10 Vault Supply and Demand
11 Other Security Storage Supply and Demand
12 Door Security Hardware Supply and Demand
13 Exit Device Supply and Demand
14 Other Door Security Hardware
Supply and Demand
15 Key Blank Supply and Demand
16 Other Mechanical Security Product
Supply and Demand
MARKETS
General
Consumer
Sector Outlook
Security Outlook
Government and Institutional
Sector Outlook
Security Outlook
Trade and Distribution
Sector Outlook
Security Outlook
Industrial
Sector Outlook
Security Outlook
Financial Institutions
Sector Outlook
Security Outlook
Office and Lodging
Sector Outlook
Security Outlook
Services
Sector Outlook
Security Outlook
Equipment
Sector Outlook
Security Outlook
LIST OF TABLES and CHARTS:
1 Mechanical Security Product
Demand by Market
Cht Mechanical Security Product
Demand by Market, 2005-2015
2 Consumer Indicators
3 Consumer Mechanical Security
Product Market
4 Government and Institutional
Sector Indicators
5 Government and Institutional Mechanical
Security Product Market
6 Trade and Distribution Sector Indicators
7 Trade and Distribution Mechanical
Security Product Market
8 Industrial Sector Indicators
9 Industrial Mechanical Security
Product Market
10 Financial Sector Indicators
11 Financial Mechanical Security
Product Market
12 Office and Lodging Sector Indicators
13 Office and Lodging Mechanical
Security Product Market
14 Service Sector Indicators
15 Service Sector Mechanical Security
Product Market
16 Equipment Sector Indicators
17 Equipment Mechanical Security
Product Market
INDUSTRY STRUCTURE
General
Industry Composition
Market Share
Research and Product Development
Manufacturing
Marketing and Distribution
Mergers and Acquisitions
Cooperative Agreements
LIST OF TABLES and CHARTS:
1 US Mechanical Security Product
Sales by Company, 2015
Cht Mechanical Security Product
Market Share, 2015
2 Selected Acquisitions and Divestitures
3 Selected Cooperative Agreements
Company Profiles

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