Global Lock And Key Market 2024

Lock And Key Market Size

In 2023, the global lock and key market increased by X% to $X, rising for the third year in a row after two years of decline. The market value increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. Global consumption peaked in 2023 and is expected to retain growth in the near future.

Lock And Key Production

In value terms, lock and key production totaled $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2022 to 2023, global production growth failed to regain momentum.

Lock And Key Exports

Exports

In 2023, global exports of padlocks, locks and keys of base metal shrank slightly to X tons, reducing by X% on the previous year. The total export volume increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of X%. The global exports peaked at X tons in 2021; however, from 2022 to 2023, the exports stood at a somewhat lower figure.

In value terms, lock and key exports shrank to $X in 2023. The total export value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. The global exports peaked at $X in 2022, and then declined in the following year.

Exports by Country

China represented the major exporting country with an export of about X tons, which amounted to X% of total exports. Germany (X tons) took the second position in the ranking, followed by Mexico (X tons). All these countries together held near X% share of total exports. Austria (X tons), the United States (X tons), Taiwan (Chinese) (X tons), Italy (X tons), Turkey (X tons), Poland (X tons), South Korea (X tons) and Canada (X tons) took a relatively small share of total exports.

From 2012 to 2023, average annual rates of growth with regard to lock and key exports from China stood at X%. At the same time, Turkey (X%), Mexico (X%), Poland (X%), Canada (X%), the United States (X%) and Taiwan (Chinese) (X%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing exporter exported in the world, with a CAGR of X% from 2012-2023. South Korea, Austria and Italy experienced a relatively flat trend pattern. By contrast, Germany (X%) illustrated a downward trend over the same period. China (X p.p.) significantly strengthened its position in terms of the global exports, while Germany saw its share reduced by X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

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

From 2012 to 2023, the average annual rate of growth in terms of value in China stood at X%. The remaining exporting countries recorded the following average annual rates of exports growth: Germany (X% per year) and the United States (X% per year).

Export Prices by Country

In 2023, the average lock and key export price amounted to $X per ton, increasing by X% against the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2016 when the average export price increased by X%. As a result, the export price attained the peak level of $X per ton. From 2017 to 2023, the average export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Canada ($X per ton), while Turkey ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (X%), while the other global leaders experienced more modest paces of growth.

Lock And Key Imports

Imports

Global lock and key imports declined to X tons in 2023, which is down by X% compared with 2022 figures. The total import volume increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. As a result, imports attained the peak of X tons. From 2022 to 2023, the growth of global imports failed to regain momentum.

In value terms, lock and key imports contracted to $X in 2023. The total import value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 when imports increased by X%. Over the period under review, global imports attained the peak figure at $X in 2022, and then shrank in the following year.

Imports by Country

The United States was the main importer of padlocks, locks and keys of base metal in the world, with the volume of imports resulting at X tons, which was approx. X% of total imports in 2023. It was distantly followed by Germany (X tons), constituting a X% share of total imports. Poland (X tons), Canada (X tons), the UK (X tons), Russia (X tons), India (X tons), France (X tons), Italy (X tons), Spain (X tons), the Netherlands (X tons), Indonesia (X tons) and Brazil (X tons) took a little share of total imports.

From 2012 to 2023, average annual rates of growth with regard to lock and key imports into the United States stood at X%. At the same time, India (X%), the Netherlands (X%), Canada (X%), Poland (X%), Spain (X%), the UK (X%), Italy (X%), Indonesia (X%), Brazil (X%) and Russia (X%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing importer imported in the world, with a CAGR of X% from 2012-2023. France and Germany experienced a relatively flat trend pattern. While the share of India (X p.p.) and the United States (X p.p.) increased significantly in terms of the global imports from 2012-2023, the share of Germany (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

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

In the United States, lock and key imports expanded at an average annual rate of X% over the period from 2012-2023. The remaining importing countries recorded the following average annual rates of imports growth: Germany (X% per year) and the UK (X% per year).

Import Prices by Country

In 2023, the average lock and key import price amounted to $X per ton, picking up by X% against the previous year. In general, the import price saw a mild increase. The pace of growth appeared the most rapid in 2018 an increase of X%. Global import price peaked in 2023 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was France ($X per ton), while India ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Spain (X%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform