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1 Market overview
1.1 Introduction
A padlock is a tool to lock a door, a safe or a suitcase, but also to buckle a chain. The padlock is composed of a lock mechanism and a mechanical ring monitored by a key or a system of encrypted wheels.
There are many models of padlocks that segment this market, ranging from the locking system, the degree of security, through the different dimensions and materials used to adapt to any type of use.
China is the main exporter of padlocks to Spain. In 2021, almost 60% of Spanish imports came from this country, while the second country in the ranking, Taiwan, exported 20% of the total. Unfortunately, Spain's trade balance is in deficit, and in the long term. In general, the market for padlocks in Spain is experiencing a downward trend.
However, the padlock market has not escaped technological developments with the emergence of connected padlocks: these padlocks can be unlocked directly via a smartphone (remotely or locally) with Bluetooth or fingerprint operation. Nevertheless, their use is still secondary and the priority is mechanical locks. Innovations in this market show that it still remains an interesting market, despite performances that do not follow the desired trend.
However, even if the market is not at its best, there are several trends that open the way to future growth, such as the trend around bicycles, a means of transport that is increasingly purchased and unfortunately suffers from many thefts. This is where the lock comes in, it is the ideal tool to reassure users, especially since with the development of the E-bike (electric bicycle), the value of bikes is increasing and with it, the amount invested in the lock in order to protect the investment made in the bike.
1.2 Global market
The global market for padlocks and other locks remains dynamic. It is expected to grow at *.**% per year over the decade, reaching a market size of US$**.* billion by ****.
evolution of Padlocks & Other Locks Market Size World, ****-****, US$ billion Source: ****
It is worth noting that the most significant innovation in ...
1.3 Spanish market
Data on turnover in the padlock market in Spain is available on the INE website, under CNAE code ****: "Manufacture of locks and fittings," which includes "the manufacture of padlocks, locks, keys, hinges and other similar hardware for buildings, furniture, vehicles, etc."[***]
In ****, the turnover reached *** million euros.
evolution of the turnover ...
1.4 International Trade
Data on foreign trade in padlocks can be found on the UN Comtrade website under HS code ******: "Padlocks (***) of base metal".
In terms of imports, Spain is heavily dependent on China, which accounts for nearly **% of the total.
Origin of padlock imports by country Spain, ****, % Source: ****
Spain's export partners are more ...
2 Analysis of the demand
2.1 "Candado de amor": a declining trend
The ****s saw an explosion in the sale of small keyed padlocks, as a result of the fashion for padlocks symbolizing love. These were attached to a bridge, from which the key was then thrown. This practice was popularized by a book,"I want you" by the Italian writer Federico Moccia. ...
2.2 Increase in cycling
The use of bicycles and scooters is increasing in Spain, although it is still historically small compared to the Dutch, for example. These means of transport are used mainly in the big cities: Seville, Zaragoza, Madrid, Valencia and Barcelona. [***]
Estimated use of bicycles Spain, ****, % Source: ****
In the same vein, it is ...
2.3 Locks for suitcases and bags
Among the uses of small padlocks, they can be used to close: suitcases, lockers, doors, garden sheds... The list is long. The demand for padlocks adapted for suitcases is the most significant, given the frequency of travel of Spaniards. For trips in shared transport, they are almost indispensable, and it is ...
3 Market structure
3.1 Decrease in gross operating income
The gross operating surplus of the manufacture of locks and fittings fell from € ***.* million in **** to € **.* million in ****, a decrease of -**% in the space of just two years. This bodes ill for the future of this industrial sector.
evolution of the EBITDA of padlock manufacturing Spain, ****-****, € million Source: ****
3.2 Employment and business
The number of people employed in the sector has fallen by about ***, while the number of hours worked has fallen by more than a million in two years.
evolution of personnel specialized in the manufacture of padlocks Spain, ****-****, people, thousands of hours Source: ****
The number of active companies has also ...
4 Analysis of the offer
4.1 Award
Different products are suitable for protecting a range of vehicles, from scooters to bicycles to scooters.
Source: ****
4.2 Types of products
It is also important to consider the wide variety of shapes and materials of padlocks, which can be adapted according to the use. Among the common formats we find :
U-shaped padlocks; Cable and chain locks; Fasteners; Unboltable padlocks; Padlocks with integrated alarm; Frame locks ; SRA padlocks; The locks adapted to electric ...
5 Regulation
5.1 Regulations
The security level of a padlock
The European standard EN-***** measures the technical performance of a padlock. The padlock is subjected to ** resistance tests, so the intensity goes from * to *. Most hardware padlocks are not classified and correspond to a level * or *. This can be explained by the fact that passing ...
6 Positioning of the actors
6.1 Segmentation
- Amazon
- Master Lock Europa
- Leroy Merlin Espagne
- ABUS
- THIRARD
List of charts presented in this market study
- Evolution of the market size of padlocks and other locking systems
- Evolution of the turnover of connected locks and bolts
- Origin of padlock imports by country
- Export destination by country
- Evolution of the trade balance in the padlock market
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Latest news
Amazon exceeds 10 billion euros in sales in France - 27/09/2023
- Amazon sales in France in 2022: €10.5 billion.
- Sales growth since previous year: over 16%.
- Sales in France in 2021: €9 billion.
- Number of companies (VSEs and SMEs) selling on Amazon in France: over 16,000.
- Number of Amazon employees in France: Over 20,000.
- Amazon investments in France since 2010: Over €20 billion.
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The padlock market | Spain
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