The mechanical locks market
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Many electrical locking devices still require a mechanical lock override in case of power failure or system error, which is boosting demand for mechanical locks.
The growth of construction industry in China, U.S and India is driving the demand of mechanical locks. The top 5 importers of mechanical locks are U.S., Germany, Mexico, China and U.K.
The affordability of mechanical locks over electrical access controllers is also driving the growth of the market. The sales of mechanical locks is increasing among small scale industries and households, especially in rural area.
Secondary data reveals that the market is projected to grow more than 4.5% annually post the year 2022.
The key players in the market are; Mechanical Locks Serrature Meroni (Italy), ECO Schulte (Germany), ASSA ABLOY (Sweden), Fermax Electronica (U.S.), Mul-T-Lock (U.S.), Nuova Oxidal (Italy), AGB – Alban Giacomo (Italy), Codelocks (U.K.) and Frosio Bortolo (Italy)
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