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Cabinet Lock Market Segmented By type such as CAM lock and Cylinder lock application in Residential and Commercial
The cabinet locks are versatile and can be mounted or installed either at front or side regardless of whether it is used for door or drawers. Cabinet lock can be used as electrical access control or can be used in place of standard mechanical locks. The cabinet locks are compact, versatile and they also have high operating comfort.
The cabinet locks helps to protect one’s drawers and cabinets by preventing unauthorized persons from gaining access to one’s valuables or files. The cabinet locks can be locked simply by a key switch, recording and monitoring, or if locking requires electrical control.
The cabinet lock can also be locked by integrating a code or card reading system. The cabinet locks are available in monitored and unmonitored versions. The cabinet locks can be accessed with access control systems and they can be triggered with a standalone keypad or with a simple relay.
The electro mechanical cabinet locks are flexible, strong and convenient and they can withhold force up to thousand lbs. Thus these electro mechanical cabinet locks are ideal for government and corporate applications including lockers and cabinets.
The cabinet lock range includes flush fitting and surface mounted versions, as well as a selection of deadbolts, cupboard locks and latches. The cabinet locks are available either as part of a larger integrated access control deployment or as pre-configured lock and hub kits. Thus these cabinet locks provides cost effective and robust access control to protect data and meet strict regulatory compliance.
The growth of the medium and small enterprises and high industrial activity across the globe is one of the key factors driving the growth of the cabinet locks market. Also enhanced security customer needs are driving the adoption of security solutions in residential areas is further expected to fuel the growth of the cabinet locks market during the forecast period.
The government is supporting the cabinet locks project in many sectors, hence it acts as a major factor driving the growth of the cabinet locks market. Moreover, another factor boosting the growth of the cabinet locks market during the forecast period is that, the cabinet locks are very cost effective and affordable.
However, there are so many players in the market, and hence it is one of the major factors restraining the growth of the cabinet locks market.
Examples of some of the market participants in the global cabinet lock market identified across the value chain include Illinois Lock Company, ASSA-Abloy, Bai Fu Co., Ltd(ARMSTRONG), ArmStrong, Lowe & Fletcher (Euro-Locks), Master Lock, Make Group, Be-Tech, Hafele and Vijayan Lock.
The cabinet lock market can be segmented into North America, Latin America, Europe, CIS & Russia, Japan, APEJ, and Middle East & Africa.
North America and Europe are the major regions that influence the current nature and future status of the cabinet lock market owing to the fast adoption of the cabinet locks in the commercial sector. The growth of cabinet lock market in these regions is also attributed to the presence of the major players in these regions.
The cabinet lock market in Asia Pacific region is expected to grow significantly as Japan and China are expected to be the fast-growing countries in this region.
The growth of cabinet lock market in this region is also due to the increasing number of small and medium enterprises in these countries. Latin America and MEA are expected to witness significant growth rate in the cabinet lock market owing to the reduction in the cost of the cabinet locks in these regions.
The report is a compilation of first-hand information, qualitative & quantitative assessment by industry analysts, as well as inputs from industry experts & industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators, and governing factors, along with market attractiveness as per segment. The report also maps the qualitative impact of various market factors on market segments and geographies.