In 2023, Germany led European locks and hinges turnover with €9.5 billion, reflecting a stable growth of 0.76% year-on-year. Austria also saw a slight increase at 1.36%, reaching €2.76 billion. Sweden experienced substantial growth at 21.95%, contrasting with declines in Italy (-1.0%), France (-2.77%), and Spain (-3.93%). Portugal and Bulgaria showed resilient gains, while Norway and Iceland faced notable contractions of -6.77% and -15.91%, respectively. Smaller markets like Latvia and Serbia demonstrated moderate growth, while Cyprus and Croatia saw turnover declines.
Future trends in the European locks and hinges market to watch include:
- Innovation-driven growth, focusing on smart and secure locking solutions.
- Increased adoption of sustainability practices and materials.
- Expansion potential in Eastern European markets post-recovery.
- Impact of regulatory changes on production and market access.
- Integration of digital technologies to enhance product offerings.
Top countries in Locks and Hinges Turnover by Country
| # | 10 Countries | Million Euros | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 9,500 | 2023 | +4.16% | +0.76% | View data |
| 2 | 2 Austria | 2,760 | 2023 | +1.93% | +1.36% | View data |
| 3 | 3 Italy | 1,430 | 2023 | -0.73% | -1% | View data |
| 4 | 4 France | 1,330 | 2023 | -0.26% | -2.77% | View data |
| 5 | 5 United Kingdom | 1,090 | 2023 | +0.17% | -0.039% | View data |
| 6 | 6 Sweden | 975.9 | 2023 | +5.07% | +21.95% | View data |
| 7 | 7 Spain | 793.8 | 2023 | -1.87% | -3.93% | View data |
| 8 | 8 Portugal | 386.2 | 2023 | +11.94% | +9.27% | View data |
| 9 | 9 Poland | 384.4 | 2023 | +0.92% | +1.07% | View data |
| 10 | 10 Belgium | 313 | 2023 | +2.52% | +2.39% | View data |
