Market Overview:
The global mag locks market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for mag locks in residential, commercial, and industrial applications. Mag locks are used in various applications such as entrance doors, gates, cabinets, and drawers. They are also used as a security measure for vehicles and boats.
Product Definition:
Magnetic locks are a type of locking device that use magnets to hold the door in place. They are used where it is important to have a fail-safe locking system, such as on fire doors.
Holding Force: Under 200kg:
The holding force is the torque needed to keep a nut or a bolt from turning. The higher the better, as long as it's under 200kgs. It's important in Mag Locks because if there is no holding force then people can easily manipulate them and try to take them apart by hand which would be very difficult and time consuming.
Holding Force: 200-500kg:
The holding force is the weight of the object that can hold or support other objects. The higher the better, as long as it's within reason. Holding force varies with different materials and sizes of products. For example, a 200-500 kg capacity deadbolt lockers are used in Mag Locks market to support their heavy duty locking mechanisms which require more than normal strength to operate.
Application Insights:
The commercial segment held the largest share of over 70.0% in 2017. Mag locks are widely used in various applications including residential, commercial and industrial as they provide superior security to the assets being protected. The growing adoption of mag locks by hotels, restaurants and other hospitality industries for theft-proofing purposes is expected to be a major factor driving product demand over the forecast period.
Magnetic locking systems have been gaining popularity among manufacturers as an effective method for preventing vehicle thefts and burglaries owing to their design features such as anti-snapback mechanism that prevents doors from closing on an asset when it is opened, thereby increasing safety levels significantly. These innovative systems also prevent unwanted door openings that may lead to vehicle thefts or burglaries due to their unique anti-snapback feature which has led them become one of the most popular choices among consumers globally for both residential & non-residential applications alike.
Regional Analysis:
North America dominated the global market in 2017. The region is expected to witness a growth rate of over 5% during the forecast period. This can be attributed to increasing demand for high security locks from residential and commercial applications in countries, such as U.S., Canada, and Mexico. Asia Pacific is projected to register the fastest CAGR during the forecast period owing to rising investments by key players in this region for manufacturing high-quality locks at competitive prices with enhanced customer services.
Growth Factors:
- Increasing demand for security and safety measures in both residential and commercial establishments is expected to drive the mag locks market growth.
- Mag locks are easy to install and do not require any wiring, which is a major factor driving their adoption over traditional locking systems.
- The increasing trend of automation across various industries is also expected to fuel the mag locks market growth in the coming years.
- Growing awareness about the benefits of using mag locks over traditional locking systems is another key factor that would propel market growth during the forecast period.
Scope Of The Report
Report Attributes
Report Details
Report Title
Mag Locks Market Research Report
By Type
Holding Force: Under 200kg, Holding Force: 200-500kg, Holding Force: 500-1000kg, Others
By Application
Residential, Commercial, Industrial
By Companies
Openers & Closers, Assa Abloy, BSI Hardware, DynaLock Corporation, Dorcas, Hartte, Security Door Controls, FSH Fire & Security Hardware, Vsionis, IDTECK Co. Ltd, SECO-LARM, Dorma, Sprint Locks, Faradays, Secure Tech Systems, Ebelco, YLI Electronic, Shenzhen Nordson Electronic, Foshan City LCJ Electric Locks Factory, Shenzhen VIANS Electric Lock, Shenzhen Gomeit Co., Zhongshan Anxing Lock
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
178
Number of Tables & Figures
125
Customization Available
Yes, the report can be customized as per your need.
Global Mag Locks Market Report Segments:
The global Mag Locks market is segmented on the basis of:
Types
Holding Force: Under 200kg, Holding Force: 200-500kg, Holding Force: 500-1000kg, Others
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Residential, Commercial, Industrial
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Openers & Closers
- Assa Abloy
- BSI Hardware
- DynaLock Corporation
- Dorcas
- Hartte
- Security Door Controls
- FSH Fire & Security Hardware
- Vsionis
- IDTECK Co. Ltd
- SECO-LARM
- Dorma
- Sprint Locks
- Faradays
- Secure Tech Systems
- Ebelco
- YLI Electronic
- Shenzhen Nordson Electronic
- Foshan City LCJ Electric Locks Factory
- Shenzhen VIANS Electric Lock
- Shenzhen Gomeit Co.
- Zhongshan Anxing Lock
Highlights of The Mag Locks Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Holding Force: Under 200kg
- Holding Force: 200-500kg
- Holding Force: 500-1000kg
- Others
- By Application:
- Residential
- Commercial
- Industrial
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Mag Locks Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
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- Understanding Competition Scenario
- Product & Brand Management
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Mag locks are a type of security lock that uses magnets to secure the door.
Some of the major players in the mag locks market are Openers & Closers, Assa Abloy, BSI Hardware, DynaLock Corporation, Dorcas, Hartte, Security Door Controls, FSH Fire & Security Hardware, Vsionis, IDTECK Co. Ltd, SECO-LARM, Dorma, Sprint Locks, Faradays, Secure Tech Systems, Ebelco, YLI Electronic, Shenzhen Nordson Electronic, Foshan City LCJ Electric Locks Factory, Shenzhen VIANS Electric Lock, Shenzhen Gomeit Co., Zhongshan Anxing Lock.
The mag locks market is expected to register a CAGR of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Mag Locks Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Mag Locks Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Mag Locks Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Mag Locks Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Mag Locks Market Size & Forecast, 2020-2028
4.5.1 Mag Locks Market Size and Y-o-Y Growth
4.5.2 Mag Locks Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Holding Force: Under 200kg
5.2.2 Holding Force: 200-500kg
5.2.3 Holding Force: 500-1000kg
5.2.4 Others
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Residential
6.2.2 Commercial
6.2.3 Industrial
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Mag Locks Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Mag Locks Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Holding Force: Under 200kg
9.6.2 Holding Force: 200-500kg
9.6.3 Holding Force: 500-1000kg
9.6.4 Others
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Residential
9.10.2 Commercial
9.10.3 Industrial
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Holding Force: Under 200kg
10.6.2 Holding Force: 200-500kg
10.6.3 Holding Force: 500-1000kg
10.6.4 Others
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Residential
10.10.2 Commercial
10.10.3 Industrial
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Holding Force: Under 200kg
11.6.2 Holding Force: 200-500kg
11.6.3 Holding Force: 500-1000kg
11.6.4 Others
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Residential
11.10.2 Commercial
11.10.3 Industrial
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Holding Force: Under 200kg
12.6.2 Holding Force: 200-500kg
12.6.3 Holding Force: 500-1000kg
12.6.4 Others
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Residential
12.10.2 Commercial
12.10.3 Industrial
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Holding Force: Under 200kg
13.6.2 Holding Force: 200-500kg
13.6.3 Holding Force: 500-1000kg
13.6.4 Others
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Residential
13.10.2 Commercial
13.10.3 Industrial
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Mag Locks Market: Competitive Dashboard
14.2 Global Mag Locks Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Openers & Closers
14.3.2 Assa Abloy
14.3.3 BSI Hardware
14.3.4 DynaLock Corporation
14.3.5 Dorcas
14.3.6 Hartte
14.3.7 Security Door Controls
14.3.8 FSH Fire & Security Hardware
14.3.9 Vsionis
14.3.10 IDTECK Co. Ltd
14.3.11 SECO-LARM
14.3.12 Dorma
14.3.13 Sprint Locks
14.3.14 Faradays
14.3.15 Secure Tech Systems
14.3.16 Ebelco
14.3.17 YLI Electronic
14.3.18 Shenzhen Nordson Electronic
14.3.19 Foshan City LCJ Electric Locks Factory
14.3.20 Shenzhen VIANS Electric Lock
14.3.21 Shenzhen Gomeit Co.
14.3.22 Zhongshan Anxing Lock
