Global Lock And Key Market 2024

Lock And Key Market Size

The global lock and key market was estimated at $X in 2021, increasing by 3.9% against the previous year. The market value increased at an average annual rate of +1.6% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The growth pace was the most rapid in 2016 with an increase of 6.8%. Global consumption peaked in 2021 and is likely to continue growth in the near future.

Lock And Key Production

In value terms, lock and key production declined to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 with an increase of 4.6% against the previous year. As a result, production reached the peak level of $X, and then contracted slightly in the following year.

Lock And Key Exports

Exports

In 2021, global lock and key exports soared to X tons, increasing by 19% on the previous year's figure. The total export volume increased at an average annual rate of +4.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when exports increased by 33% against the previous year. The global exports peaked in 2021 and are likely to see steady growth in years to come.

In value terms, lock and key exports soared to $X in 2021. The total export value increased at an average annual rate of +5.0% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, China (X tons) represented the major exporter of padlocks, locks and keys of base metal, comprising 48% of total exports. Germany (X tons) held an 8.2% share (based on physical terms) of total exports, which put it in second place, followed by Austria (6.1%). The following exporters - the United States (X tons), Italy (X tons), Taiwan (Chinese) (X tons), Poland (X tons), Turkey (X tons), Mexico (X tons), South Korea (X tons) and Slovakia (X tons) - together made up 20% of total exports.

From 2012 to 2021, average annual rates of growth with regard to lock and key exports from China stood at +5.9%. At the same time, Turkey (+6.3%), Poland (+6.2%), Austria (+5.2%), Slovakia (+3.7%), South Korea (+2.9%), Italy (+1.8%), Taiwan (Chinese) (+1.7%), Mexico (+1.3%) and the United States (+1.0%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing exporter exported in the world, with a CAGR of +6.3% from 2012-2021. Germany experienced a relatively flat trend pattern. While the share of China (+6.9 p.p.) increased significantly in terms of the global exports from 2012-2021, the share of Germany (-3.1 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest lock and key supplier worldwide, comprising 34% of global exports. The second position in the ranking was held by Germany ($X), with a 13% share of global exports. It was followed by the United States, with a 6% share.

In China, lock and key exports increased at an average annual rate of +9.2% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Germany (+1.6% per year) and the United States (+2.7% per year).

Export Prices by Country

The average lock and key export price stood at $X per ton in 2021, surging by 4.8% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 an increase of 20%. As a result, the export price reached the peak level of $X per ton. From 2017 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Mexico ($X per ton), while Slovakia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+3.6%), while the other global leaders experienced more modest paces of growth.

Lock And Key Imports

Imports

In 2021, the amount of padlocks, locks and keys of base metal imported worldwide skyrocketed to X tons, picking up by 19% compared with 2020. The total import volume increased at an average annual rate of +4.1% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor 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 soared to $X in 2021. The total import value increased at an average annual rate of +4.2% over the period from 2012 to 2021; 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 was the major importer of padlocks, locks and keys of base metal in the world, with the volume of imports finishing at X tons, which was near 22% of total imports in 2021. Germany (X tons) held the second position in the ranking, followed by Poland (X tons). All these countries together held near 11% share of total imports. Mexico (X tons), the UK (X tons), Russia (X tons), France (X tons), Italy (X tons), India (X tons), Spain (X tons), Canada (X tons), Indonesia (X tons) and the Netherlands (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to lock and key imports into the United States stood at +5.1%. At the same time, India (+14.0%), Poland (+6.9%), the Netherlands (+6.3%), Spain (+4.4%), Mexico (+4.3%), the UK (+4.0%), Italy (+3.9%), Russia (+3.3%), Indonesia (+2.1%), Germany (+1.8%) and France (+1.7%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing importer imported in the world, with a CAGR of +14.0% from 2012-2021. By contrast, Canada (-1.3%) illustrated a downward trend over the same period. From 2012 to 2021, the share of the United States increased by +1.9 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) constitutes the largest market for imported padlocks, locks and keys of base metal worldwide, comprising 20% of global imports. The second position in the ranking was held by Germany ($X), with an 8% share of global imports. It was followed by the UK, with a 4.2% share.

In the United States, lock and key imports increased at an average annual rate of +4.3% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Germany (+2.6% per year) and the UK (+4.1% per year).

Import Prices by Country

In 2021, the average lock and key import price amounted to $X per ton, with an increase of 4.2% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 an increase of 5.3%. Global import price peaked in 2021 and is expected to retain growth in the immediate term.

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 ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+2.9%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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