Farmington, Jan. 16, 2023 (GLOBE NEWSWIRE) -- The Cam Locks Market was valued at US$ 2,319.1 Million in 2022 and is expected to reach US$ 3,390.8 Million by 2030 it is estimated to grow at a CAGR of 5.6% during the forecast period. Cam locks are used in all kinds of security systems to keep all kinds of buildings safe. Cam locks are mostly used on the inside and not on the outside. It's not a very strong lock, so it's not a high-security lock, but it works for most customers, so it still leads the cam lock market. Mechanical cam locks, also called plain cam locks, have been used mostly in OEM setups over the past few years because they are cheap and light. But as technology has improved, electronic or digital cam locks have become common in almost every industry. All of these things are making the cam lock market grow.
Request Sample Copy of Report “Cam Locks Market - Global Industry Analysis, Size, Share, Growth Opportunities, Future Trends, Covid-19 Impact, SWOT Analysis, Competition and Forecasts 2022 to 2030”, published by Contrive Datum Insights.
Cam Locks Market Recent Developments:
- In 2022, Abloy entered into a national distributor partnership with Anixter Inc. to expand its lock hardware solutions in the US market. Under the agreement, the two companies will raise awareness of the key systems ABLOY PROTEC2 and PROTEC2 CLIQ.
- In 2021, Southco recently launched an expanded manufacturing facility in Ranjangaon, Pune. The lot was expanded to 20,000 square feet. This expansion will lead to improved manufacturing space and better job opportunities for the Indian market.
Cam Locks Market Segmentation Analysis:
Electronic cam locks are locking devices that can be opened or closed by using a keypad. The electronic cam locks can tell who is trying to get in based on their unique code, letting them into the building, room, etc. This kind of security system is used to lock doors, gates, cabinets, and drawers at places like schools and residential buildings. A magnetic lock is a type of door lock that opens and closes, in the same way, every time. The main thing that makes it different from other types is that it uses magnets to hold itself in place. This keeps people from getting in without permission or breaking in. Another benefit of these locks is that they are easy to install. You don't have to hire someone to do it every time because most models are easy enough that anyone can do it on their own without calling in an expert. A pad lockable cam lock can be opened with a key, but most can also be opened by giving the handle a quick turn. Because of this, they are often used in places that need to be safe and secure, like school locker rooms and gyms, where people need to get inside quickly before playing sports or changing for an activity.
Cam locks are used to protect homes and offices in residential settings. They add an extra level of security beyond what keys or keypads can do. Any door, window, cabinet, safe box, etc. can have a cam lock put on it. Some locks can be put on sliding glass doors to keep them shut, and others can be put on exterior doors so that they can only be opened with a key. Some locks can also be used to lock the windows of a home or office to make it safer. Office buildings use cam locks to make the buildings safer. They can't be opened or shut with keys. Instead, you have to use a combination of numbers that you set when you install them to get in. These locks are put on doors that could be broken into easily if they weren't protected. For example, connecting rooms, private offices, and other places where access needs to be limited and properly secured so that people who shouldn't have access don't get it.
Regional Outlook:
North America has been a big market for cam locks around the world. The sector is growing in the region because there are a lot of big players and more people want to live there.
During the period of the forecast, Europe is expected to become a lucrative place to do business. This is because consumers are becoming more worried about security and governments across Europe, including the UK and Germany, are spending more on infrastructure.
Asia-Pacific has a lot of potentials because it has a lot of people and its cities are growing quickly. It also has a lot of infrastructure development going on, including government programs that increase demand from end users for commercial applications like retail stores and distribution centers.
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Scope of Report:
| Report Attributes | Details |
| Growth Rate | 5.6% from 2023 to 2030 |
| Market Size in 2022 | USD 2,319.1 Million |
| Revenue Forecast by 2030 | USD 3,390.8 Million |
| By Type | Electronic Cam Locks, Magnetic Cam Lock, Padlockable Cam Locks, Other |
| By Applications | Residentical Use, Office Buildings, Others |
| By Companies | ASSA ABLOY, Litai Metal Products, Allegion, Master Lock (Fortune Brands), DIRAK, Southco, Rittal, WANGTONG LOCKS, The Eastern, Capitol Lock, and others |
| Base Year | 2022 |
| Historical Year | 2017 to 2021 |
| Forecast Year | 2023 to 2030 |
Cam Locks Market Growth Factor:
The Cam Locks Market is expanding because there is a rising demand for home safety, more people are concerned about security, and there is an increasing need to safeguard valuables. The industry is anticipated to expand significantly because it can be utilised in so many different ways, both at home and in the workplace. In addition, it has a great deal of promise in the military and defence sector due to its robust line of cam locks. This industry's growth prospects from 2021 to 2030 will be bolstered by the expansion of manufacturing globally, notably the industrialization of developing economies.
Cam Locks Market Key Segments Covered:
Top Market Players:
ASSA ABLOY, Litai Metal Products, Allegion, Master Lock (Fortune Brands), DIRAK, Southco, Rittal, WANGTONG LOCKS, The Eastern, Capitol Lock, and others.
On the Basis of Type:
- Electronic Cam Locks
- Magnetic Cam Lock
- Padlockable Cam Locks
- Other
On the Basis of Application:
- Residentical Use
- Office Buildings
- Others
Regions and Countries Covered
- North America: (US, Canada, Mexico, Rest of North America)
- Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
- Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
- The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
- Latin America: (Brazil, Argentina, Rest of Latin America)
- Rest Of the World
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