Door Lock & Lockset Manufacturing in the US Industry Market Research Report Now Available from IBISWorld

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During the recession, the industry's key customers reduced their demand for locks and locksets, severely cutting into revenue. A recovery in construction and car manufacturing is helping support the industry and is expected to contribute to some revenue growth. However, increased imports and offshoring will continue to hinder domestic lock manufacturers, leading to revenue contractions over the next five years. For these reasons, industry research firm IBISWorld has added a report on the Door Lock & Lockset Manufacturing industry to its growing industry report collection.

IBISWorld Market Research

IBISWorld Market Research

Recovery for key customers will support lock manufacturers, but revenue will keep falling

The Door Lock and Lockset Manufacturing industry has faced adverse conditions, largely stemming from greater international competition, offshoring and downturns in its key demand sectors. Over the past decade, industry revenue has fallen nearly consistently as companies continue to offshore production, a trend that has resulted in the industry having a shrinking footprint on the US economy. The Door Lock and Lockset Manufacturing industry derives the majority of its demand from the construction, home improvement, automotive and office furniture markets, all of which contracted significantly during the recession. As a result, demand for industry products dropped sharply, particularly during 2009. In the five years to 2012, industry revenue decreased at an average annual rate of 4.8% to an estimated $3.7 billion. Following the significant contraction during the recession, however, the Door Lock and Lockset Manufacturing industry benefited from a postrecessionary recovery in the automotive sector and slow improvement in the construction market. As a result, industry revenue turned the corner in 2010 and is expected to post 3.0% gains during 2012.

There are currently an estimated 116 companies that manufacture locks domestically. Over the past five years, the number of industry manufacturing facilities declined as companies continued to move production abroad to take advantage of lower production costs. The Door Lock and Lockset Manufacturing industry has a moderate level of concentration. The top players are ASSA ABLOY AB, Stanley Black & Decker Inc., Ingersoll Rand and Fortune Brands Home & Security. Over the five years to 2012, concentration has increased as many firms exited the industry or have been acquired by larger players. Over the past five years, the number of industry firms has declined at an estimated average annual rate of 3.4% to 116. There have also been several acquisitions over the same period. For example, in 2011, major player Stanley Black & Decker acquired Niscayah, one of the largest access-control and surveillance solutions providers in Europe.

Over the five years to 2017, industry revenue is projected to decline. The industry will, however, benefit from a temporary recovery through 2014 as demand in the construction and automotive markets continues to ramp up. Continued recovery in these key downstream markets will generate greater demand for the industry's locks. However, after the postrecessionary boost, heightened competition from inexpensive imports and continued relocation abroad will overwhelm this short-term growth, leading to continued revenue contraction. For more information, visit IBISWorld’s Door Lock and Lockset Manufacturing in the US industry report page.

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IBISWorld industry Report Key Topics

This industry manufactures door locks and locksets. A door lock is a lock on an exterior door. Lockets are complete locking systems, which include knobs, plates and a locking mechanism.

Industry Performance
Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle
Products & Markets
Supply Chain
Products & Services
Major Markets
Globalization & Trade
Business Locations
Competitive Landscape
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry
Major Companies
Operating Conditions
Capital Intensity
Key Statistics
Industry Data
Annual Change
Key Ratios

About IBISWorld Inc.
Recognized as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every US industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Los Angeles, IBISWorld serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit or call 1-800-330-3772.

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Gavin Smith
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