Northern America: Lock And Key Market 2025

Lock And Key Market Size in Northern America

The North American lock and key market soared to $X in 2021, jumping by 17% against the previous year. The market value increased at an average annual rate of +1.1% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs in 2021 and is likely to continue growth in the immediate term.

Lock And Key Production in Northern America

In value terms, lock and key production dropped to $X in 2021 estimated in export price. Overall, production showed a abrupt decline. The growth pace was the most rapid in 2017 with an increase of 97%. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Lock And Key Exports

Exports in Northern America

In 2021, after two years of decline, there was significant growth in overseas shipments of padlocks, locks and keys of base metal, when their volume increased by 9.1% to X tons. Overall, exports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2014 with an increase of 13%. The volume of export peaked at X tons in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, lock and key exports soared to $X in 2021. The total export value increased at an average annual rate of +2.8% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. Over the period under review, the exports reached the peak figure at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United States represented the main exporting country with an export of around X tons, which resulted at 75% of total exports. It was distantly followed by Canada (X tons), making up a 25% share of total exports.

The United States was also the fastest-growing in terms of the padlocks, locks and keys of base metal exports, with a CAGR of +1.0% from 2012 to 2021. Canada experienced a relatively flat trend pattern. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) remains the largest lock and key supplier in Northern America, comprising 72% of total exports. The second position in the ranking was taken by Canada ($X), with a 28% share of total exports.

From 2012 to 2021, the average annual growth rate of value in the United States totaled +2.7%.

Export Prices by Country

The export price in Northern America stood at $X per ton in 2021, rising by 6.1% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.0%. The most prominent rate of growth was recorded in 2018 when the export price increased by 6.1% against the previous year. The level of export peaked in 2021 and is likely to see steady growth in the near future.

Average prices varied noticeably amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Canada ($X per ton), while the United States stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Canada (+2.9%).

Lock And Key Imports

Imports in Northern America

In 2021, imports of padlocks, locks and keys of base metal in Northern America surged to X tons, picking up by 15% against the previous year's figure. The total import volume increased at an average annual rate of +4.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, lock and key imports surged to $X in 2021. The total import value increased at an average annual rate of +3.8% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

The United States dominates imports structure, finishing at X tons, which was approx. 92% of total imports in 2021. It was distantly followed by Canada (X tons), making up a 7.7% share of total imports.

The United States was also the fastest-growing in terms of the padlocks, locks and keys of base metal imports, with a CAGR of +5.1% from 2012 to 2021. Canada (-1.3%) illustrated a downward trend over the same period. The United States (+5.2 p.p.) significantly strengthened its position in terms of the total imports, while Canada saw its share reduced by -5.2% from 2012 to 2021, respectively.

In value terms, the United States ($X) constitutes the largest market for imported padlocks, locks and keys of base metal in Northern America, comprising 85% of total imports. The second position in the ranking was taken by Canada ($X), with a 15% share of total imports.

In the United States, lock and key imports expanded at an average annual rate of +4.3% over the period from 2012-2021.

Import Prices by Country

The import price in Northern America stood at $X per ton in 2021, increasing by 4.6% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. Over the period under review, import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Canada ($X per ton), while the United States totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Canada (+2.7%).

Source: IndexBox Platform

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