Market Overview:
The global parking locks market is expected to grow at a CAGR of 5.5% from 2018 to 2030. The growth in the market can be attributed to the increasing demand for remote parking locks and manual parking locks from commercial and private users, respectively. Additionally, the growing awareness about safety and security is also propelling the growth of this market. North America dominates the global parking locks market, followed by Europe, Asia Pacific, Latin America, and Middle East & Africa.
Product Definition:
Parking locks are devices used to secure parking spaces. They are often used in conjunction with a parking meter, and can be either manual or electronic. Parking locks are important because they help to ensure that parking spaces are available for those who need them, and that they are not taken up by people who do not need them.
Remote Parking Lock:
The global remote parking lock, it's usage and growth factor in the Parking Locks market is expected to witness significant growth over the forecast period. The rise in demand for automobiles has led to a surge in demand for parking spaces. This has further created a need among individuals and organizations for efficient means of securing their vehicles, as well as spots.
Manual Parking Lock:
Manual parking lock is a mechanical device used to secure a vehicle in an occupied position. It prevents the vehicle from moving forward or backward. The device works as a safety feature and helps avoid potential accidents while allowing the driver to exit easily.
The global market for manual parking locks is expected to witness significant growth over the forecast period owing to its increasing demand across various industry verticals including automotive, construction, and oil & gas among others.
Application Insights:
On the basis of application, the global parking locks market has been segmented into commercial and private use. The commercial segment held a larger share as of 2017 owing to increasing number of shopping malls, hotels and airports that require their own sets of remote controlled locking mechanisms for vehicles. Increasing in-room security measures at hotels have also driven the demand for these devices in recent years.
The private use segment is expected to grow significantly over the forecast period due to growing concerns about vehicle theft and burglaries at homes and apartments across various regions. In addition, an increase in disposable income among consumers has led them to spend more on home security equipment such as advanced remote control systems with built-in safety features for doors & windows that operate through radio frequency identification technology (RFID).
Regional Analysis:
North America dominated the global parking locks market in 2017. The growth is majorly driven by the presence of high automobile population, increased spending on vehicle maintenance and repair, and stringent regulations regarding vehicle security. Europe accounted for a significant share of revenue in 2017 owing to growing concerns over vehicular theft as well as increasing number of car parks across the region. Asia Pacific is expected to witness substantial growth over the forecast period owing to rapid urbanization coupled with increasing disposable income levels among consumers especially in China and India.
Growth Factors:
- Increasing demand for parking locks from the automotive industry as a result of the increasing production of vehicles.
- The growing trend of using parking locks in residential areas to prevent unauthorized access and theft is expected to drive the market growth.
- Rising concerns over safety and security are anticipated to propel the demand for parking locks in both private and public sectors.
- Growing awareness about the benefits offered by parking locks is projected to fuel their adoption across various applications such as homes, businesses, airports, etcetera. 5) Technological advancements that have led to development of new-generation smart parking locks are likely to create opportunities for market growth over the forecast period
Scope Of The Report
Report Attributes
Report Details
Report Title
Parking Locks Market Research Report
By Type
Remote Parking Lock, Manual Parking Lock
By Application
Commercial Use, Private Use
By Companies
ZKTeco, Park Master, Designated Parking Corp., Parking System, Livfuture Automation & Security, Shenzhen Huangchi, Hangzhou Guzhi, Guangzhou KinouWell Technology, Wuhan Xilite Commercial Technologies
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
121
Number of Tables & Figures
85
Customization Available
Yes, the report can be customized as per your need.
Global Parking Locks Market Report Segments:
The global Parking Locks market is segmented on the basis of:
Types
Remote Parking Lock, Manual Parking Lock
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
Commercial Use, Private Use
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:
- ZKTeco
- Park Master
- Designated Parking Corp.
- Parking System
- Livfuture Automation & Security
- Shenzhen Huangchi
- Hangzhou Guzhi
- Guangzhou KinouWell Technology
- Wuhan Xilite Commercial Technologies
Highlights of The Parking 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:
- Remote Parking Lock
- Manual Parking Lock
- By Application:
- Commercial Use
- Private Use
- 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 Parking 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
- Consumer Insights
- 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?
Parking locks are a security feature on some cars that prevent the car from being started if it is left in a parking lot or garage.
Some of the key players operating in the parking locks market are ZKTeco, Park Master, Designated Parking Corp., Parking System, Livfuture Automation & Security, Shenzhen Huangchi, Hangzhou Guzhi, Guangzhou KinouWell Technology, Wuhan Xilite Commercial Technologies.
The parking locks market is expected to grow at a compound annual growth rate of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Parking 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 Parking Locks Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Parking 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 Parking 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 Parking Locks Market Size & Forecast, 2018-2028
4.5.1 Parking Locks Market Size and Y-o-Y Growth
4.5.2 Parking Locks Market Absolute $ Opportunity
Chapter 5 Global Parking Locks 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 Parking Locks Market Size Forecast by Type
5.2.1 Remote Parking Lock
5.2.2 Manual Parking Lock
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Parking Locks 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 Parking Locks Market Size Forecast by Applications
6.2.1 Commercial Use
6.2.2 Private Use
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Parking 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 Parking 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 Parking Locks Analysis and Forecast
9.1 Introduction
9.2 North America Parking Locks 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 Parking Locks Market Size Forecast by Type
9.6.1 Remote Parking Lock
9.6.2 Manual Parking Lock
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 Parking Locks Market Size Forecast by Applications
9.10.1 Commercial Use
9.10.2 Private Use
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 Parking Locks Analysis and Forecast
10.1 Introduction
10.2 Europe Parking Locks 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 Parking Locks Market Size Forecast by Type
10.6.1 Remote Parking Lock
10.6.2 Manual Parking Lock
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 Parking Locks Market Size Forecast by Applications
10.10.1 Commercial Use
10.10.2 Private Use
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 Parking Locks Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Parking Locks 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 Parking Locks Market Size Forecast by Type
11.6.1 Remote Parking Lock
11.6.2 Manual Parking Lock
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 Parking Locks Market Size Forecast by Applications
11.10.1 Commercial Use
11.10.2 Private Use
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 Parking Locks Analysis and Forecast
12.1 Introduction
12.2 Latin America Parking Locks 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 Parking Locks Market Size Forecast by Type
12.6.1 Remote Parking Lock
12.6.2 Manual Parking Lock
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 Parking Locks Market Size Forecast by Applications
12.10.1 Commercial Use
12.10.2 Private Use
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) Parking Locks Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Parking Locks 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) Parking Locks Market Size Forecast by Type
13.6.1 Remote Parking Lock
13.6.2 Manual Parking Lock
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) Parking Locks Market Size Forecast by Applications
13.10.1 Commercial Use
13.10.2 Private Use
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 Parking Locks Market: Competitive Dashboard
14.2 Global Parking Locks Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 ZKTeco
14.3.2 Park Master
14.3.3 Designated Parking Corp.
14.3.4 Parking System
14.3.5 Livfuture Automation & Security
14.3.6 Shenzhen Huangchi
14.3.7 Hangzhou Guzhi
14.3.8 Guangzhou KinouWell Technology
14.3.9 Wuhan Xilite Commercial Technologies
