Global Cam Locks Market Overview 2033 : Forecasted Market Size And Growth Rate | Assa Abloy AB, Allegion, Rittal, Southco Inc., Richelieu Hardware

"The new report published by The Business Research Company, titled ""Cam Locks Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033"", delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, the cam locks market size hasgrown strongly in recent years. It will grow from $2.34 billion in 2023 to $2.49 billion in 2024 at a compound annual growth rate (CAGR) of 6.6% The cam locks market size is expected to see strong growth in the next few years. It will grow to $3.23 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%.

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Construction Industry Driving Cam Lock Market
The growth in the construction industry is expected to propel the growth of the cam lock market going forward. Construction refers to the process of building, assembling, or creating infrastructure, buildings, or other structures. The construction industry is expanding due to urbanization, infrastructure projects, population growth, economic development, and technological advancements, leading to increased demand for buildings and infrastructure. The construction industry's expansion propels the cam lock market by increasing demand for security solutions in building projects. Cam locks are essential components across various construction settings, fostering innovation and growth in the market. For instance, according to a report shared by the United States Census Bureau, a US-based government agency, construction spending increased from $1,768.2 billion in March 2022 to $1,834.7 billion in March 2023, a 3.8% increase in construction spending. Further, in February 2022, according to a report published by the Office for National Statistics, a UK-based government agency, the annual construction sector in the UK rose by a record 12.7% in 2021 compared to the previous year. Therefore, the growth in the construction industry is driving the growth of the cam lock market.

Adoption of Biometric Authentication in Cam Locks
Major companies operating in the cam lock market are adopting technologically advanced cam locks such as biometric authentication cam locks, to enhance security and meet the growing demand for sophisticated locking solutions. Biometric authentication in cam locks utilizes individual biological characteristics, like fingerprints or eye scans, for identity verification prior to access authorization. For instance, in December 2023, Godrej Security Solutions, an India-based manufacturer and marketer of security solutions, launched the NX Pro Plus, NX Advanced, and Verge Series home lockers, featuring digital and biometric access options. These lockers can store up to 30 fingerprints, offer a stylish modular design, and fit easily in residences. They combine advanced technology with classic design, providing dual-mode access, voice guidance, and a built-in alarm for enhanced security and convenience. This technology is designed to improve convenience and safeguard valuables.

The cam locks market covered in this report is segmented -

1) By Type: Electronic Cam Locks, Magnetic Cam Lock, Padlockable Cam Locks, Other Types
2) By Mounting Type: Surface Mount, Through Hole, Other Mounting Types
3) By Material: Stainless Steel, Brass, Aluminum, Other Material
4) By Application: Metal Furniture, Wooden Furniture, Mail Boxes, Automotive Accessories, Lockers, Windows And Doors, Other Applications

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Major companies operating in the cam locks market are Assa Abloy AB, Allegion, Rittal, Southco Inc., Richelieu Hardware, Häfele America Co., Master Lock, Emka Inc., The Eastern company, Keyline USA, Sugatsune Kogyo, CompX Security Products, Olympus Lock Inc., Dira Inc., Capitol Industries Inc., Lowe & Fletcher Ltd, Camlock Systems Ltd., Sinox company Ltd, Zephyr Lock, VanLock, Ningbo Wangtong Locks Co. Ltd., Industrilas, JK Lock Co. Ltd, American Lock Company

Contents of the report:
1. Executive Summary
2. Cam Locks Market Report Structure
3. Cam Locks Market Trends And Strategies
4. Cam Locks Market - Macro Economic Scenario
5. Cam Locks Market Size And Growth
…..
27. Cam Locks Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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