India Industrial Locking System Market Research Report Forecast to 2028
Market Overview
The demand for industrial locking systems is increasing rapidly over the last few years across the globe. The rapidly growing railway industry in the country is anticipated to act as a major market driver during the forecast period. The increasing popularity of safer locking systems through innovations and upgrades is anticipated to create an opportunity for market players operating in the industrial locking system market. However, growing applications of smart locks and easy duplication of keys using advanced technologies are anticipated to restrict the growth of the Indian market during the forecast period.
Locking systems provide security and control access authorization. Industrial locking systems provide a high degree of flexibility. They are used in various applications such as railway, automotive, enclosure industry, banking, telecommunication, and manufacturing among others.
The India industrial locking system market is expected to register a notable growth rate during the forecast period. The rapidly growing railway sector in the country and the rising need for two-way locks in emergency exits mainly drive market growth. However, the growing application of smart locks and the availability of advanced key duplication technologies are expected to hamper market growth. Nevertheless, the increasing popularity of safer locking systems through innovations and upgrades is projected to create opportunistic areas for market players in the India market in the coming years.
Market Segmentation
Based on product type, India industrial locking system market has been segmented into escutcheons, swing handles, lift handles, and others. Based on category, the India industrial locking system market has been segmented into keyed and non-keyed. Based on application, the India industrial locking system market has been segmented into railway, automotive, enclosure industry, banking, telecommunication, manufacturing, and others.
Major Players
The key players operating in the India industrial locking system market include Dirak Gmbh (Germany), Darshana Industries Pvt. Ltd (India), Southco, Inc. (US), Arihant Panel Fittings (India), Essentra Plc (UK), Ashoka Locks (India), Dorset Industries Private Limited (India), Yeeka India Industrial Locks (India), Kubs Safes & Locks Pvt. Ltd. (India), Dormakaba Group (Switzerland).
COVID 19 Impacts
We are continuously tracking the impact of the COVID-19 pandemic on various industries and verticals within all domains. Our research reports include the same and help you understand the drop and rise, owing to the impact of COVID-19 on industries. Also, we help you to identify the gap between the demand and supply of your interested market. Moreover, the report helps you with the analysis, amended government regulations, and many other useful insights.
Companies Mentioned
Dirak Gmbh (Germany)
Darshana Industries Pvt. Ltd (India)
Southco
Inc. (US)
Arihant Panel Fittings (India)
Essentra Plc (UK)
Ashoka Locks (India)
Dorset Industries Private Limited (India)
Yeeka India Industrial Locks (India)
Kubs Safes & Locks Pvt. Ltd. (India)
Dormakaba Group (Switzerland)
Please note:The single user license is non-downloadable and non-printable. Global Site license allows these actions.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook