Growth in the US mechanical security product market will average 5.4 percent annually through 2019, reaching $6.1 billion. Gains will be driven by the expanding base of access control systems, necessitating the use of higher value electrified mechanical security products. In addition, rising spending on new construction will support new product demand.
This report segments the mechanical security product industry by product and market. Data is provided in dollars.
Products covered by this study include:
Security Storage Equipment
Door Security Hardware
Locks account for the majority of demand and will represent three-quarters of mechanical security product demand in 2019. Locks are also expected to see the fastest gains of any product segment.
Major markets in the mechanical security product industry include:
Government and Institutional
Offices and Lodging
Trade and Distribution
The consumer market will remain the largest segment through 2019, accounting for a quarter of mechanical security product demand. The fastest gains will be seen in the government and institutional, and offices and lodging markets, propelled by strong gains in new building construction and the large and growing need for electrified products compatible with the access control systems used in these markets.
Many of the larger entities in the US security products and systems industry participate across both the mechanical and electronic segments of the business. Nonetheless, many smaller and mid-size firms specialize in mechanical security products due to different design and manufacturing requirements compared to other security products and systems. Key participants include Allegion, ASSA ABLOY, dorma+kaba, Fortune Brands Home & Security, Spectrum Brands, and Stanley Black & Decker.