Global Mechanical Locks Market

Global Mechanical Locks Market was valued at US$ 5.7 Bn in 2017 and is expected to reach US$ 8.7 Bn by 2026, at a CAGR of 4.81% during a forecast period.

Based on material, copper is expected to hold the largest share of the market during the forecast period as it has excellent features such as hardness, ductility, and strength. Followed by the iron as it is cost-effective many manufacturers use the iron for the mechanical locks. On the basis of type, mortise locks segment is expected to hold the largest share of the market during the forecast period. In terms of application, doors application is expected to hold the largest share of the market during the forecast period as construction activities are increasing, rising usage of mechanical locks for physical security, and mechanical locks are cost effective.

Major driving factors of the market are rising usage of mechanical locks for physical security applications and mechanical locks are cost effective. The market of mechanical locks is boosting as rising usage of mechanical locks in small-scale industries and household particularly in a rural area are another factor propel the market.

This report is submitted by @Maximize market research pvt ltd

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