Mechanical Security Products to 2020

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Date: 29-Feb-2016
No. of pages: 219
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US demand to rise 5.4% annually through 2020

Sales of mechanical security products are expected to rise 5.4 percent annually through 2020 to $6.1 billion. Growth will be driven by the large lock segment, which will benefit largely from continued gains in building construction spending. Advances in value terms will be aided by the ongoing shift to higher value electrified products, particularly door locks and door security hardware that are used with electronic access control systems. The need for electrified versions of mechanical security products will continue to rise as access control and other such systems are installed at more entry points.

Locks & door security hardware to see above average gains

Locks accounted for more than 70 percent of mechanical security product sales in 2015. Sales of door locks dominate this segment and alone accounted for 60 percent of total mechanical security demand in 2015. Door locks are also expected to see the fastest growth of any mechanical security product, driven by rising demand for doors both in new construction and repair and renovations. In value terms, sales of door locks are also aided by the rising need for more sophisticated electromagnetic locks in light of the increasing prevalence of electronic access control systems in nonresidential buildings. The relatively mature padlocks segment will register slower growth. Sales of door security hardware, including panic hardware and exit devices, represented 10 percent of mechanical security sales in 2015 and will also generate above average sales gains. Much like door locks, sales of these products will benefit from the strong demand for doors and the increasing use of access control systems and related, more expensive electrified hardware.

Security storage equipment, such as safes and vaults, was the second largest segment in 2015 with 14 percent of sales will see slower gains going forward. The primary market for many security storage products is the financial sector, and the declining number of banking and credit union offices will restrain sales of these products. Demand for vaults will be particularly limited, as replacement sales are rare; however, some opportunities exist in new installations in other smaller applications, such as jewelry stores and in the quickly growing marijuana industry. Safes are expected to post better growth, as they benefit from a wider pool of customers and rising interest in gun safes.

Government, commercial markets to grow the fastest

The consumer market accounted for onequarter -- the largest share -- of mechanical security product demand in 2015 because mechanical locks are generally considered sufficient as the primary security measure. Rising single-family housing construction and ongoing replacement of door looks and padlocks will drive above average sales gains. However, the next two largest markets -- government and institutional, and office and lodging -- are expected to see more rapid gains, aided by the increasing installation and upgrade of access control systems, which require more expensive electromechanical door locks and security hardware.

Company Profiles

Profiles 24 US industry competitors  such as Allegion, Diebold, Gunnebo,  ASSA ABLOY, dorma+kaba, Fortune  Brands Home & Security, Spectrum  Brands & Stanley Black & Decker

Mechanical Security Products to 2020

Table of Contents

Introduction

Executive Summary

Market Environment
General
Demographic & Social Environment
Demographic Trends
Employment Trends
Macroeconomic Outlook
Building Construction Outlook
Residential Building Construction
Nonresidential Building Construction
Building Stock Trends
Residential Building Stock
Nonresidential Building Stock
Business Establishment Trends
Consumer Spending Outlook
Public Safety Environment
Crime Rates
Violent Crimes
Property Crimes
Terrorism & Other Nonconventional Crimes
Terrorism
Other Nonconventional Crimes
Legal & Regulatory Environment
Pricing Dynamics
World Mechanical Security Markets
Foreign Trade

Products
General
Locks
Door Locks
Mechanical
Electromechanical
Padlocks
Keyed
Keypad/Combination
Other Locks
Security Storage Equipment
Safes
Vaults
Other Security Storage
Door Security Hardware
Panic Hardware & Exit Devices
Other
Key Blanks
Other

Markets
General
Consumer
Sector Outlook
Security Outlook
Government & Institutional
Sector Outlook
Security Outlook
Office & Lodging
Sector Outlook
Security Outlook
Financial Institutions
Sector Outlook
Security Outlook
Trade & Distribution
Sector Outlook
Security Outlook
Equipment
Sector Outlook
Security Outlook
Services
Sector Outlook
Security Outlook
Industrial
Sector Outlook
Security Outlook

Industry Structure
General
Industry Composition
Market Share
Research & Product Development
Manufacturing
Marketing & Distribution
Mergers & Acquisitions
Cooperative Agreements
Company Profiles
ABUS USA, see August Bremicker Söhne
Allegion plc
American Lock, see Fortune Brands Home & Security
American Security Products Company
Arrow Lock Manufacturing, see ASSA ABLOY
ASSA ABLOY AB
August Bremicker Söhne KG
Baldwin Hardware, see Spectrum Brands Holdings
Best Access Systems, see Stanley Black & Decker
Brady Corporation
BRK Brands, see Jarden
Cal-Royal Products Incorporated
Cannon Safe Incorporated
CCL Security Products, see Eastern
Computerized Security Systems, see dorma+kaba Holding
CompX International Incorporated
Corbin Russwin, see ASSA ABLOY
Diebold Incorporated
dorma+kaba Holding AG
Eastern Company
Emtek Products, see ASSA ABLOY
Fortune Brands Home & Security Incorporated
Grainger (WW) Incorporated
Gunnebo AB
GunVault, see Cannon Safe
Hamilton Safe, see Gunnebo
Hampton Products International Corporation
Hanchett Entry Systems, see ASSA ABLOY
Handy Hardware, see World and Main
Hardware Holdings, see World and Main
HBC Home & Hardware Products, see World and Main
Illinois Lock, see Eastern
Jarden Corporation
Kwikset, see Spectrum Brands Holdings
Liberty Safe and Security Products Incorporated
Master Lock, see Fortune Brands Home & Security
Medeco Security Locks, see ASSA ABLOY
Mul-T-Lock USA, see ASSA ABLOY
National Manufacturing, see Spectrum Brands Holdings
Onity, see United Technologies
Pacific Lock Company
Precision Hardware, see Stanley Black & Decker
Premiere Lock Company LLC
Rockwood Manufacturing, see ASSA ABLOY
Rutherford Controls International, see dorma+kaba Holding
SAFLOK, see dorma+kaba Holding
Sargent & Greenleaf, see Stanley Black & Decker
SARGENT Manufacturing, see ASSA ABLOY
Schlage Lock, see Allegion
Sentry Safe, see Fortune Brands Home & Security
Spectrum Brands Holdings Incorporated
Stanley Black & Decker Incorporated
Stanley Manufacturing, see Spectrum Brands Holdings
Tell Manufacturing, see Spectrum Brands Holdings
United Technologies Corporation
Vanguard Protex Global
Weiser Lock, see Spectrum Brands Holdings
Weslock, see Premiere Lock
World and Main LLC
Yale Security, see ASSA ABLOY

List of Tables

Executive Summary
Summary Table

Market Environment
Population & Households
Employment Outlook
Macroeconomic Indicators
Building Construction Expenditures
Residential Building Construction Expenditures
Nonresidential Building Construction Expenditures
Housing Stock by Type
Nonresidential Building Stock
Business Establishments
Personal Consumption Expenditures
Violent Crime Levels
Property Crime Levels
Incidences of Terrorism in the US, 2005-2014
Selected Other Crimes
US Foreign Trade in Mechanical Security Products

Products
Mechanical Security Product Supply & Demand
Lock Supply & Demand
Door Lock Supply & Demand
Mechanical Door Lock Demand
Electromechanical Door Lock Demand
Padlock Supply & Demand
Other Lock Supply & Demand
Security Storage Equipment Supply & Demand
Safe Supply & Demand
Vault Supply & Demand
Other Security Storage Supply & Demand
Door Security Hardware Supply & Demand
Panic Hardware & Exit Device Supply & Demand
Other Door Security Hardware Supply & Demand
Key Blank Supply & Demand
Other Mechanical Security Product Supply & Demand

Markets
Mechanical Security Product Demand by Market
Consumer Indicators
Consumer Mechanical Security Product Market
Government & Institutional Sector Indicators
Government & Institutional Mechanical Securit Product Market
Office & Lodging Sector Indicators
Office & Lodging Mechanical Security Product Market
Financial Sector Indicators
Financial Mechanical Security Product Market
Trade & Distribution Sector Indicators
Trade & Distribution Mechanical Security Product Market
Equipment Sector Indicators
Equipment Mechanical Security Product Market
Service Sector Indicators
Service Sector Mechanical Security Product Market
Industrial Sector Indicators
Industrial Mechanical Security Product Market

Industry Structure
US Mechanical Security Product Sales by Company, 2015
Selected Acquisitions & Divestitures
Selected Cooperative Agreements

List of Charts

Section I -- Executive Summary

Market Environment
Year of Construction of Housing Stock, 2015
US Crime Rates, 2005-2015
World Mechanical Security Product Market by Region, 2015

Products
Mechanical Security Product Demand by Type, 2015
Lock Demand by Type, 2015
Door Lock Demand by Type, 2005-2015
Mechanical Door Lock Demand by Access Type, 2015
Electromechanical Door Lock Demand by Access Type, 2015
Security Storage Equipment Demand by Type, 2015

Markets
Mechanical Security Product Demand by Market, 2015

Industry Structure
Mechanical Security Product Market Share, 2015

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