Safes and Vaults: A Global Strategic Business Report
San Jose, California (Vocus/PRWEB) January 07, 2011
Securing valuable physical assets such as printed business records and documents, cash, arms & ammunition, data storage devices and jewelry, has become a key concern for people from all walks of life, including the common man, employees, business owners, and building owners. Surging crime rate in most urban and private residential areas is increasingly necessitating high-level security arrangement, creating more opportunities for security equipment. Rising incidents of security infringement at key depository facilities such as banks, and ATMs, and fears over terrorism, vandalism, arson, have truly underscored the need for effective security and safety equipment for safeguarding valuable assets at both residential and commercial facilities. Against this backdrop, the demand for safes and vaults has been on the rise, both in commercial and residential markets.
Despite the popular perception that ever-present safety & security needs and rising crime rates, which interestingly tend to escalate during periods of economic downturn, make security and safety products recession proof, the market ironically has shown signs of marked weakening in the midst of steady deterioration in business climate. The length, breath, and duration of current recession has been unprecedented and the contraction in business activity has been widespread across diverse industries, including the traditionally perceived as resilient safes and vaults market.
The commercial and industrial end-use sector, especially, has witnessed receding demand as a result of tight liquidity, postponement of new purchases and lengthening of the product replacement period. The worst hit industry verticals - banking and retail especially have squeezed demand for safes and vaults. While the meltdown in the banking industry temporarily reduced the immediate need for new banking equipment and security products such as safes and vaults, and depositories, the forced delay in launch of new retail projects such as malls, chain retailers, and franchise outlets, as a result of financial crunch, also eroded new market opportunities. Consumer preferences shifted from high-end technology intensive, expensive safes and vaults to cost effective yet high quality and functional products forcing manufacturers to aggressively price their products at lower prices, or offer their products with more capabilities and functionalities at same price, thus affecting their profit margins.
Demand for home safes, which has been relatively resilient to the recession, has been one of the few bright spots for safes and vaults market in the midst of the difficult business environment. Although limited in its ability to offset the current weakness in the market, in contrast, in the consumer market, home safes interestingly have witnessed a relatively cushioned impact of the recession. Loss of confidence in financial institutions and stock market, invited householders and investors to purchase home safes for storing jewelry, cash, and vital documents, among others. The complete collapse in public confidence can be thrown into sharp relief by the fact that bank deposits have declined at astounding rates, and the stock market has shed trillions of dollars in value. Although the trend has helped marginally perk up volume/unit sales, dollar sales value remained restricted as a result of recession induced price sensitivity among consumers.
Nevertheless, the outlook for the post recession period remains bright, as safety and security of valuable assets against possible thefts, vandalism, and in cases of natural disasters such as fire and floods will always remain vital. Crime in the form of theft and break-ins will always provide the need for securing vulnerable documents and possessions such as passports, personal identification number and passwords, money, jewelry, thus translating into a sound business case for safes and vaults.
As stated by the new market research report, Europe is the largest regional market for safes and vaults. Asia-Pacific is the fastest growing regional market, surging at a CAGR of about 3.5% over the analysis period. By product, safes market is the largest product segment, holding a lion’s share of the global volume sales. Established standards, reliability, variety in offerings and technology enhancements such as use of audit trial, time lock, and other electronic access control methods are driving demand for safes.
Major players in the marketplace include Allied Fire & Security, Brown Safe Manufacturing Inc., Bumil Safe Mfg Co. Ltd., Diebold Inc., Firelock Fireproof Modular Vaults, FireKing Security Group, Format Tresorbau GmbH & Co. KG, Gardall Safe Corporation, Godrej & Boyce Mfg. Co. Ltd., Gunnebo AB, Chubb Safes Ltd, Fichet-Bauche SA, Kaba Holding AG, KASO Oy, Klipton Ltd., Lampertz GmbH & Co Kg, Liberty Safe and Security Products Inc., Mutual Safe Co. Inc., Sentry Group, Inc., and Stark Safes Srl
The research report titled “Safes and Vaults: A Global Strategic Business Report” announced by Global Industry Analysts, Inc., provides a comprehensive review of market trends, issues, drivers, company profiles, mergers, acquisitions and other strategic industry activities. The report provides market estimates and projections in value sales for major geographic markets including the United States, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific, Middle East and Latin America. Product segments analyzed include Safes and Vaults.
For more details about this comprehensive market research report, please visit –
http://www.strategyr.com/Safes_and_Vaults_Market_Report.asp
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world’s largest market research publishers. The company employs over 800 people worldwide and publishes more than 1200 full-scale research reports each year. Additionally, the company also offers thousands of smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.
Global Industry Analysts, Inc.
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