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1 Market Overview
1.1 Introduction
A padlock is a type of portable lock intended to provide general protection against theft, vandalism, and burglary. Normally a padlock is used in conjunction with a chain, or to lock doors or shutters by means of metallic rings for anchoring.
It consists of a case in which there is a lock mechanism and a metal ring that can be either opened or closed; in some cases the ring is replaced by a pin. The mechanism is controlled by a key or by means of numbered combination wheels. The case of present-day padlocks can be made of iron, brass, steel or stainless steel, or even hardened steel (the latter bear the inscription "hardened"); some models are made with a one-piece case, others in brass possoso have the case itself protected by a steel shell.
There are many models of padlocks that segment this market, from the locking system, to the degree of security, to the different sizes and materials used to suit any type of use.
China is the leading exporter of padlocks; in 2020, it exported 5 times more than the second largest exporter, Mexico. Italy is present in the international trade of padlocks as the 8th largest exporter by value. Made in Italy quality is appreciated all over the world, and importing countries are more likely to spend more for better quality.
The padlock market has not escaped technological developments, however, with the emergence of connected padlocks: these padlocks can be unlocked directly via a smartphone (remotely or locally) with Bluetooth or fingerprint operation. However, their use is still secondary and the priority is on mechanical locks. Innovations in this market show that it still remains an interesting market, which prospects new growth in the future.
1.2 World market for padlocks
The following data are extracted from UN comtrade under code "****** - Padlocks; (***), made of base metal."
Exports
Ranking of exporting countries by value and quantity of padlocks World, ****, in US$ million and million kg
Source: ****
This table shows the ranking of lock exporting countries, which also gives an idea of the ...
1.3 Italian Market
To give an idea of how valuable the Italian padlock market can be, it is possible to look at the turnover of companies with ATECO code **.**.**, or "Production and manufacture of locks and hinges."
Turnover is growing strongly; between **** and **** it increased by *** million euros, or an increase of ** percent.
Italian ...
1.4 Impact war in Ukraine
The War in Ukraine is causing price increases all over Europe, especially in energy and subsistence raw materials-electricity and metals such as steel and pig iron, from which locks are made, are on the rise.
In particular, the cost of electricity has increased by *.** percent in one year, and steel and ...
2 Demand analysis
2.1 Padlocks and theft
One of the major uses of padlocks is to protect one's motorcycles or bicycles.
Number of Bicycles Sold in Italy Italy, **** - ****, in millions of bicycles sold Source: ****
The market is rather steady, with a slight fluctuation in the number of sales between **** and **** of -*.*% from *.* million bicycles sold to ...
2.2 Other Usage of Padlocks
Another important use of padlocks is for the protection and locking of luggage during travel. Precise padlocks, namely TSA padlocks, are used for this specific purpose. TSA padlocks not only allow the luggage to be protected, but also make it easy to inspect during screening. In fact, each TSA lock is ...
2.3 Padlocks and technology
The advent of technology has also entered the world of padlocks, giving rise to real padlocks-intelligent, connected to APPs, which can be tracked, which are self-charging and customizable. Moreover, with the increasing use of apps, such as Airbnb, where access to a place must always be shared with more people, more ...
3 Market structure
2.1 Operation
There are mainly two types of padlocks, combination padlocks (***).
Operation
A padlock is a locking system that conceals a somewhat complex system: it consists of a metal case containing two pistons that lock and unlock a hook. When the lock pins are aligned, the piston releases the hook, which opens the ...
2.3 Manufacturing padlocks in Italy
The production of padlocks in Italy is identified by Ateco code **.**.** "Manufacture of locks and similar hinges and hardware," this category is slightly broader, since it also takes into account manufacturers of security doors and locks, since they have the same mechanism. In addition, many companies diversify production, producing both ...
2.3 Distribution channels
The main distribution channels for padlocks are small specialty retailers, such as hardware or bicycle stores, and GDSs, such as large do-it-yourself stores or large sports stores.
Although small retailers, such as hardware and bicycle stores, are a reality in Italy, an important part of the sector, especially in terms of ...
3.4 Companies
Most companies in the industry diversify their production and tend to offer, in addition to padlocks, security doors, safes, locks, and hinges. The companies with the highest turnovers are those that have most diversified their offerings and have the most stores or dealers on national soil.
4 Supply analysis
4.1 Products offered
As we have seen, the sizes, materials and types of locks can vary. Here are the different types of locks according to their use
Key or code?
Code locks are often used when it is necessary to share access with a large number of users, for example, for access to a ...
4.2 Prices
Manufacturing prices
The processing price of padlocks, locks and hinges is ***.* as of August ****, with base ****=***. It is interesting to see how the price has also increased due to the increase in the cost of raw materials. As shown in the following graph, raw material prices have increased, especially between **** and ...
5 Regulations
5.1 Regulations
European Requirements
European standard EN-*****, which specifies requirements and describes test methods for mechanical strength, security, durability, performance and corrosion resistance of padlocks and their accessories.
The padlock is subjected to ** strength tests, ranging in intensity from * to *.
Most locks are not rated (***). This can be explained because the tests must ...
6 Positioning of actors
6.1 Segmentation
- Leroy Merlin Italia
- Bricocenter Italia
- EuroBrico Spa
- Decathlon Italie
- Borea Spa
- Master Lock Europa
- CISA S.p.a
- ISEO Serrature
- Viro S.p.a
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The market for padlocks | Italy
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