Global Mortise Locks Market Size, Share and Growth 2024-2032

According to the report by Expert Market Research (EMR), the global mortise locks market size reached a value of USD 8.52 billion in 2023. Aided by the rising demand for advanced security solutions in residential, commercial, and industrial sectors, the market is projected to further grow at a CAGR of 5.50% between 2024 and 2032 to reach a value of USD 13.77 billion by 2032.

Mortise locks are a type of locking mechanism that is installed within the body of a door, providing enhanced security and durability compared to other lock types. They are commonly used in external doors due to their ability to withstand high levels of force and their compatibility with various security systems.

The growing need for advanced security solutions in residential and commercial properties is a significant driver of the mortise locks market. As concerns over burglaries and unauthorized access rise, the demand for reliable and robust locking mechanisms, such as mortise locks, is expected to surge.

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Rapid urbanisation and the expansion of infrastructure projects, including the construction of new residential complexes, commercial buildings, and industrial facilities, are also contributing to the mortise locks market growth.

Innovations in lock technology, such as smart mortise locks that can be controlled remotely via smartphones or integrated with home automation systems, are gaining popularity. These advancements are expected to facilitate enhanced convenience and security features, consequently driving up the mortise locks market share.

The implementation of stringent building codes and standards that mandate the use of high-quality locking mechanisms in doors is driving the adoption of mortise locks in various construction projects. Additionally, mortise locks are available in a range of designs and finishes, allowing them to complement the aesthetic of different door styles. This versatility is appealing to consumers looking to combine security with visual appeal, leading to the mortise locks market expansion.

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The retail stores segment holds a substantial portion of the mortise locks market based on distribution channels. This segment’s expansion is credited to the enhanced convenience, accessibility, and reliability provided by hardware stores to customers. Customers can physically assess the functionality of a door lock and address any queries through retail outlets. Moreover, retail stores can suggest new products, designs, and improved alternatives at affordable prices, enhancing customer satisfaction instantly. On the other hand, the online segment is projected to experience significant growth in the upcoming period as consumers increasingly favour online shopping.

As per the mortise locks market analysis, the Asia-Pacific region is anticipated to lead the market, driven by rapid urbanisation, infrastructure development, and a growing focus on security in countries such as China and India. North America and Europe are also significant markets, with demand fuelled by the renovation of old buildings and the adoption of smart home technologies.

Market Segmentation

The market can be divided based on the product type, distribution channel, application, and region.

Market Breakup by Product Type

• Skeleton Key Mortise Lock
• Side Plate Mortise Lock

Market Breakup by Distribution Channel

• Hypermarkets and Supermarkets
• Retail Stores
• Online
• Others

Market Breakup by Application

• Offices
• Hotels and Hospitals
• Residential
• Educational Institutions
• Others

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global mortise locks market. Some of the major players explored in the report by Expert Market Research are as follows:

• Dormakaba International Holding AG
• Lockwood Industries Inc.
• Sargent Manufacturing Company (ASSA ABLOY Group)
• Franz Schneider Brakel GmbH + Co KG
• Security Snobs
• Others