USA Locks Market Research Report Forecast to 2030

USA Locks Market Research Report Forecast to 2030
Major Players
The USA locks market is expected to register a 3.94% CAGR during the forecast period, 2021 to 2028, and is expected to reach USD 2,384.41 million in 2028. Locks are usually of two types mechanical and digital locks. Mechanical locks are mechanical devices that secure an opening by keeping a door closed until a release mechanism is activated; usually a lever, knob, and key, whereas a digital lock uses electric signals to unlock a door.

Increasing concerns about locks and the growing need for eco-friendly lock packaging are driving the market during the forecast period. High costs of customized gifts are expected to hamper the market growth during the forecast period. However, the growing use of eco-friendly and well-disposable products is expected to create a significant opportunity for the market during the forecast period.

Market Segmentation
The USA locks market is segmented based on category, product type, grade, raw material, end user, and distribution channel. Based on category type the market is segmented into digital and mechanical. Based on type the market is segmented into Padlocks, Mortise Locks, Cylindrical Locks, Deadbolt, Smart Locks, and others. Based on grade, the market is segmented into Grade 1, Grade 2, and Grade 3. Based on raw material, it is segmented into Stainless Steel, Copper, Iron, Steel, and Others. Based on end-users, the market is segmented into residential and commercial. Based on distribution channels, the USA market is segmented as store-based and non-store-based. The store-based sub-segment is further classified as supermarkets and hypermarkets, convenience stores, specialty stores, and others.

Major Players
Some of the players operating in the market are Spectrum Brands Holdings, Inc., Codelocks Inc., The Eastern Company, Assa Abloy AB, and Allegion PLC among others.

Companies Mentioned
Spectrum Brands Holdings
Inc.
Codelocks Inc.
The Eastern Company
Assa Abloy AB
and Allegion PLC.

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