Global Mechanical & Electromechanical Locks Market - Focused Insights 2025-2030

MECHANICAL AND ELECTROMECHANICAL LOCKS MARKET SIZE

The global mechanical and electromechanical locks market was valued at USD 21.30 billion in 2024 and is projected to reach USD 28.36 billion by 2030, growing at a CAGR of 4.89% during the forecast period. This growth is primarily driven by the incorporation of IoT connectivity and smart capabilities in electromechanical locks, a rising preference for wireless access control and locking solutions, increasing adoption of digital locks in coworking environments, and their seamless integration with smart home systems.

Key trends fueling the global mechanical and electromechanical locks market include expansion in industrial and commercial sectors, a flourishing hospitality industry, supportive government initiatives, smart city developments, and growing demand within the safety and convenience segments. The market is witnessing robust advancement due to the heightened focus on security, safety, and user experience. Consistent annual growth in this sector is largely propelled by factors such as rising construction activity across both residential and commercial domains and the increasing emphasis on retrofitting and replacement solutions.

MECHANICAL AND ELECTROMECHANICAL LOCKS MARKET NEWS

1. In 2025, Allegion plc completed the acquisition of Nova Hardware Pty Ltd (Novas), an Australia-based company specializing in the design and distribution of door hardware products, including pulls and levers, mechanical and electronic locks, hinges, and more. Novas primarily serves architects, building developers, and contractors. This acquisition supports Allegion’s efforts to broaden its customer base and enhance its market presence.
2. In 2025, Fortune Brands Innovation introduced its latest range of smart locks tailored for multi-family properties and commercial applications, marketed under its Yale and Master Lock brands.
3. In 2024, Honeywell acquired the access solutions segment of Carrier's global business, which encompasses brands such as Onity, LenelS2, and Supra. The Onity brand is particularly known for its electronic locking solutions, including mobile credential systems and hospitality-focused access control.

MECHANICAL AND ELECTROMECHANICAL LOCKS MARKET TRENDS

IoT and Smart Features Transforming Electromechanical Locks

The integration of Internet of Things (IoT) connectivity and smart functionalities into electromechanical locks represents a key trend in the global mechanical and electromechanical locks market. By incorporating IoT, these locks transform into smart locking systems that offer improved security and convenience. Various market factors, such as growing security concerns, the expansion of commercial use cases, technological progress, and increasing adoption of smart home solutions fuel this development. Additionally, declining costs of connectivity technologies like Bluetooth, Z-Wave, Zigbee, and Wi-Fi have made these smart locks more affordable and user-friendly.

Rising Adoption of Wireless Access Control and Locking Solutions

The rising demand for wireless access control and locking solutions is a prominent trend in the global mechanical and electromechanical locks market. This shift is influenced by multiple factors, including improved security, cost-efficiency, enhanced flexibility and convenience, growing use in commercial environments, and integration with building management systems. Key features such as real-time alerts, compatibility with security systems, and audit trail capabilities contribute to heightened security. Wireless locks also integrate effortlessly with smart home ecosystems and centralized building management platforms. By eliminating the need for wiring and reducing installation costs, wireless systems offer a more economical solution for end-users.

Booming Growth in the Hospitality Sector

The booming hospitality sector is a major driving force in the global mechanical and electromechanical locks market. Several factors contribute to this growth, including the need to enhance guest experiences, address hygiene concerns, support new construction and renovation projects, improve operational efficiency, and meet rising security requirements. Additionally, increased travel and tourism and the growing demand for hotels and restaurants further support market expansion. In the U.S., the rising interest in leisure travel is boosting tourism, prompting higher demand for lodging facilities. With hotels accommodating thousands of guests daily, weekly, and monthly, the need for advanced electromechanical locking systems is growing. A notable trend in the industry is the move toward keyless entry, personalization, and seamless check-in/check-out processes to elevate the guest experience. Furthermore, heightened security needs in hospitality are accelerating the adoption of both mechanical and electromechanical locks.

MECHANICAL AND ELECTROMECHANICAL LOCKS MARKET SEGMENT INSIGHTS

Insights By Product: The mechanical locks segment accounted for the largest global mechanical and electromechanical locks market share of over 59%. Several factors contribute to the continued demand for mechanical locks, including their lower upfront cost, broad applicability, lack of power requirements, ease of operation, and strong reputation for reliability and trust. Mechanical locks are generally more affordable than their electromechanical counterparts. Their long-standing use and the perception of dependable security make them a preferred choice for basic protection needs. Their simple and intuitive operation adds to their appeal. As a result, mechanical locks maintain strong global demand. A large portion of this demand arises from the replacement of old or worn-out traditional locks, often as part of security system upgrades. Mechanical locks are especially suitable for rural and suburban regions, where the absence of electrical power makes them a practical solution. This further supports their widespread demand in the global market.

Insights By Installation: By installation type, the new construction segment is experiencing notable growth, recording the fastest CAGR of 5.34% during the forecast period. This growth is attributed to several key factors, including the adoption of advanced technologies in new buildings, expansion in the construction industry, architectural specifications, rapid urbanization, business development, regional infrastructure projects, and compliance with building codes and regulations. These codes often mandate the use of high-quality locking systems, making new constructions an ideal opportunity for installation. The global rise in residential and commercial construction is boosting the demand for locks in newly built structures. Modern construction projects increasingly emphasize the integration of building automation and smart home technologies, driving the demand for both mechanical and electromechanical locking systems. Additionally, developers and architects are actively determining the lock types and designs to be implemented, further propelling market growth for these products during the forecast period.

Insights By End-User: The hospitality segment leads by end-user and accounts for the largest share in the global mechanical and electromechanical locks market. This dominance is fueled by multiple factors, such as the increasing need for operational efficiency, the shift toward mobile key solutions, rising demand for guest convenience and security, and integration with property management systems (PMS). For hospitality operators, ensuring secure and seamless guest access is a top priority, which drives the preference for electronic card-based locking systems. The widespread use of PMS allows for smooth check-in and check-out experiences, further boosting demand for these lock systems. Additionally, the growing millennial population worldwide is contributing to higher demand for unique and appealing food experiences from restaurants. For example, in the U.S., data from Prince Castle (a Berkshire Hathaway subsidiary) indicates that 66% of consumers are willing to pay more, and 73% are more likely to visit restaurants offering innovative flavors, further supporting growth in the hospitality sector and, by extension, the locks market.

Insights By Distribution Channel: The online distribution channel is witnessing notable growth and is projected to record the fastest CAGR during the forecast period. This growth is fueled by increasing internet accessibility, the convenience of online shopping, and the availability of a broad range of products. E-commerce platforms offer detailed product descriptions and competitive pricing, making them attractive to consumers. In developing regions, the shift toward online purchasing is gaining momentum due to expanding internet usage and rising digital adoption, while in developed markets, sales of mechanical and electromechanical locks via online channels continue to surge. Features like click-and-pay are enhancing convenience and encouraging more purchases through digital platforms. Consequently, manufacturers are increasingly focusing on expanding their online presence to reach a broader audience. According to Spain’s National Markets and Competition Commission, the number of e-commerce users in the country is projected to rise by 25% by 2025, highlighting the growing adoption of online retail for household items—a trend expected to boost demand for mechanical and electromechanical locks through online channels in the coming years.

MECHANICAL AND ELECTROMECHANICAL LOCKS MARKET GEOGRAPHICAL ANALYSIS

In 2024, the APAC region holds the largest share of the global mechanical and electromechanical locks market, accounting for over 39%. The demand in this region is propelled by various factors, including rising disposable incomes, an expanding middle-class population, accelerated infrastructure development, rapid urbanization, growth in the retail and hospitality industries, increasing adoption of smart home technologies, and heightened construction investments across multiple sectors. High-rise developments are particularly thriving in APAC, with more than 50% of all new global high-rise construction projects located in the region. For example, China’s Sky City, anticipated to be completed by 2025, is set to become the world’s tallest residential tower at 838 meters, highlighting the need for advanced locking solutions.

As middle-class populations in APAC countries grow and accumulate more spending power, there's a notable rise in expenditures on dining, leisure, and travel. This trend contributes to increased demand for restaurants, hotels, and other commercial facilities, thereby further driving the need for mechanical and electromechanical locks.

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MECHANICAL AND ELECTROMECHANICAL LOCKS MARKET VENDOR LANDSCAPE

The global mechanical and electromechanical locks market report consists of exclusive data on 38 vendors. The market is highly competitive and fragmented, with a mix of small players, niche players, and established global players. The larger players are heavily investing in developing new products to attract a wider consumer base and stay competitive in the market. Competition among players in the mechanical and electromechanical locks market revolves around product reliability, price, design, quality, support services, and technological innovations. Companies are offering a wide variety of products, including both mechanical and electromechanical locks, along with related door hardware and integrated access control systems. They are focused on strong brand recognition and attracting a broader consumer base. Local and regional market players are catering to specific local needs in the market. They are competing through strong regional distribution, localized solutions, and competitive pricing. Companies are increasingly focusing on offering electromechanical locks that leverage advanced technology to provide innovative features in locks.

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