Mortise Locks Market Analysis and Latest Trends

Mortise locks are a type of locking mechanism that is built into the door itself. These locks are commonly found in residential and commercial buildings, offering increased security and durability compared to other types of locks. Mortise locks are known for their reliability and resistance to tampering, making them a popular choice for high-security applications.

The global mortise locks market is expected to grow at a steady pace during the forecast period. Factors such as increasing demand for advanced security solutions, growing urbanization leading to the construction of new residential and commercial buildings, and rising awareness about the importance of home security are driving the growth of the mortise locks market.

One of the key trends in the mortise locks market is the integration of smart technology and access control features into traditional mortise locks. Manufacturers are developing smart mortise locks that can be controlled remotely through a smartphone app, providing users with added convenience and security. This trend is expected to continue driving the growth of the mortise locks market in the coming years.

Overall, the mortise locks market is expected to grow at a CAGR of 8.9% during the forecast period, reflecting the increasing demand for secure and reliable locking solutions in residential and commercial buildings.

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Mortise Locks Major Market Players

The Mortise Locks Market is highly competitive, with key players such as DORMA, SARGENT, Hafele Group, Master Lock, PDQ, Corbin Russwin, Medeco, STANLEY, BEST, ASSA ABLOY Group, Kwikset, Lockwood Industries Inc, Emtek, and BiLock dominating the market. These companies offer a wide range of products, services, and solutions to meet the diverse needs of consumers.

One of the leading players in the Mortise Locks Market is ASSA ABLOY Group, which is a global leader in door opening solutions. The company has a strong market presence and a wide product portfolio, including mortise locks, cylinders, and door hardware. ASSA ABLOY Group has shown consistent growth over the years and is expected to continue expanding its market share in the coming years.

Another key player in the Mortise Locks Market is STANLEY Security, which offers a range of security solutions, including mortise locks, access control systems, and video surveillance. The company has a strong customer base and a global presence, with operations in multiple countries. STANLEY Security has been investing in research and development to innovate its product offerings and to stay ahead of the competition.

In terms of sales revenue, ASSA ABLOY Group reported sales of over $10 billion in 2020, making it one of the largest players in the Mortise Locks Market. STANLEY Security also reported a significant sales revenue in the same year, showcasing its strong market position and growth potential.

Overall, the Mortise Locks Market is characterized by intense competition among key players, with companies like ASSA ABLOY Group and STANLEY Security leading the way in terms of market share, product innovation, and sales revenue. The market is expected to continue growing in the coming years, driven by increasing concerns about security and the need for advanced locking solutions.

What Are The Key Opportunities For Mortise Locks Manufacturers?

The global mortise locks market is experiencing steady growth due to increasing security concerns and rising demand for smart locking systems. The market is expected to witness a CAGR of around 4% during the forecast period of 2021-2026. Factors such as urbanization, industrialization, and the construction industry's growth are driving the market's expansion. Additionally, advancements in technology, such as biometric access control and IoT integration, are further fueling market growth. With a focus on enhancing security measures and convenience, the mortise locks market is projected to continue its positive growth trajectory in the coming years.

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Market Segmentation

The Mortise Locks Market Analysis by types is segmented into:

• Mortise Sideplate Lock
• Skeleton Key Mortise Lock

Mortise locks are commonly categorized into two main types: Mortise Sideplate Locks and Skeleton Key Mortise Locks.