United States Electric Strikes Market was valued at USD 0.4 Billion in 2022 and is projected to reach USD 0.7 Billion by 2030, growing at a CAGR of 7.0% from 2024 to 2030.
The U.S. electric strikes market is experiencing remarkable growth, driven by advancements in security technologies and increasing demand for access control systems. Electric strikes, essential components in modern locking mechanisms, facilitate seamless integration with electronic access systems, enhancing both security and convenience. As of 2023, the global electric strike market was valued at approximately USD 460 million, with projections indicating a rise to around USD 760 million by 2032, reflecting a compound annual growth rate (CAGR) of 5.5%. citeturn0search2
In the United States, this growth is particularly pronounced. The market is expected to expand at a CAGR of 25.86% from 2023 to 2030, with estimates suggesting an increase from USD 100 million in 2023 to USD 500 million by 2030. citeturn0search4 This surge is attributed to several factors:
Commercial Sector Expansion: The proliferation of commercial establishments requiring robust security solutions has significantly bolstered the demand for electric strikes. Businesses are increasingly adopting electronic access systems to safeguard assets and regulate entry points efficiently.
Industrial Applications: Industrial facilities, with their complex access requirements, are integrating electric strikes to streamline operations and enhance security protocols, further fueling market growth.
Technological Innovations: Continuous advancements in electric strike technologies, such as improved holding forces and compatibility with various locking mechanisms, are attracting a broader user base and driving market expansion.
Despite these positive trends, the market faces challenges, including concerns over labor disputes and technological transitions. For instance, labor unions have expressed apprehensions about job security amid technological advancements, leading to strikes and negotiations. citeturn0news21 Additionally, the shift towards more advanced security technologies necessitates significant investment, which can be a barrier for smaller enterprises.
Looking ahead, the U.S. electric strikes market is poised for continued growth, propelled by technological innovations and the escalating need for sophisticated security solutions across various sectors. Stakeholders must navigate the evolving landscape by addressing challenges related to labor dynamics and investment requirements to fully capitalize on the market's potential.
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Openers & Closers
Assa Abloy
BSI Hardware
DynaLock Corporation
Dorcas
Hartte
Security Door Controls
FSH Fire & Security Hardware
Vsionis
IDTECK Co. Ltd
SECO-LARM
Dorma
Sprint Locks
YLI Electronic
Shenzhen Nordson Electronic
Foshan City LCJ Electric Locks Factory
Shenzhen VIANS Electric Lock
Shenzhen Gomeit Co.
Zhongshan Anxing Lock
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the US Electric Strikes Market
Electric Fail-Safe Strikes
Electric Fail-Secure Strikes
Electric Surface-Mounted Strikes
Electric Concealed Strikes
Residential
Commercial
Institutional
Industrial
Wired Electric Strikes
Wireless Electric Strikes
Smart Electric Strikes
Single Point Locking
Multi-Point Locking
Remote Control Operated
Stainless Steel
Brass
Aluminum
Plastic
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the US Electric Strikes Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. US Electric Strikes Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. US Electric Strikes Market, By Type
6. US Electric Strikes Market, By Application
7. US Electric Strikes Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. US Electric Strikes Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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