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Summary of our market study
The global padlock market is dominated by China, which leads significantly in both export value and quantity, exporting padlocks worth $784 million and weighing 152.2 million kg in 2020. Mexico follows, with exports valued at $158 million and weighing 5.5 million kg. Other notable exporting countries include the United States, Germany, and Hong Kong. In terms of imports, the United States is the largest importer, with padlock imports valued at $327 million and weighing 22 million kg. The United Kingdom ranks fourth in import value at $43 million while importing 3.4 million kg of padlocks.
The UK's padlock market shows a manufacturing value of €15 million, with a production quantity trend that does not correlate directly to value changes, indicating price fluctuations. The UK's foreign trade coverage ratio for padlocks indicates that export values are insufficient to cover imports, as the export value has decreased by approximately 50% from 2008 to 2021. The UK padlock market includes household names like Reece Safety Products, Guardian Lock & Engineering Co.Ltd, and Assa Abloy Group, amongst others.
The Dynamics and Trends of the UK Padlock Market
The United Kingdom presents a diverse and evolving marketplace for padlocks, catering to numerous sectors that include bicycle security, luggage protection, and facility access management. With a market that is influenced by both domestic production and foreign trade, trends within the UK reflect a complex interplay of import-export activities, consumer demand spikes, and technological advancements in padlock offerings. The demand for padlocks in the UK has been closely tied to the surge in bicycle sales, especially during the period following the onset of the Covid-19 pandemic. Sales of bicycles skyrocketed to over 3 million units in 2021 alone, marking a significant uptick from previous years. This boom, sparked by a national cycle and walking strategy named ‘Gear Change’, inevitably spurred an increased need for security padlocks as more individuals sought to protect their new investments from theft. Interestingly though, while bicycle theft offenses in England and Wales have noted a decrease, the concern for security remains prevalent.
Motorcycles also contribute to the padlock demand, with around 1.2 million units sold and a steady growth in sales over the prior two decades. Despite motorcycle thefts not displaying a definitive trend, the consistent numbers maintained the necessity for robust security measures. On the production front, the UK padlock manufacturing landscape is largely composed of small enterprises, especially concentrated in the Greater London area. These manufacturers, ranging from 1 to 4 employees in size, often diversify their offerings to include safes, security doors, and other safety apparatus. Esteemed "Made in England" brands, some boasting revenues exceeding 25 million pounds, indicate a specialization and emphasis on domestic quality in padlock production.
When it comes to purchasing padlocks, consumers in the UK have various avenues, including prominent home department stores like B&Q and John Lewis, hardware retail stores, sports stores for bike-related security needs, and increasingly, online retailers. With the general online retail market claiming about a quarter of total retail sales, e-commerce platforms are becoming significant players in the distribution of padlocks. In the realm of padlock types, customers face choices ranging from standard keyed locks to innovative combination and electronic ones, each varying in price and complexity. High-security models coexist with more affordable options, leaving room for a wide spectrum of consumer preferences and security requirements. The pricing landscape of padlocks sees a broad range, with certain high-security padlocks being priced.
Major Players in the Padlock Market Landscape
The padlock market features a variety of players that have carved niches for themselves in different segments of the industry. These companies range from those specializing in high-security locks to manufacturers of weather-resistant padlocks that cater to the outdoor market. Here, we spotlight some of the key companies that are prominently positioned in the market scenario.
- Reece Safety Products: This UK-based company caters to the demand for locally produced brass key padlocks. They offer a diverse product line with several keying options - from padlocks keyed differently to padlocks keyed alike and even those with master key systems. The uniqueness of their offer lies in their focus on British manufacturing and provision for wholesale as well as individual orders.
- Guardian Lock & Engineering Co. Ltd: With a history dating back to 1982, Guardian operates from a facility that has roots in the early 20th century Imperial Works. Their focus is on trade, providing an array of products that include traditional padlocks, mortice locks, and hardware complementary to locking mechanisms under their reputable IMPERIAL brand.
- Assa Abloy Group: A significant figure in the security sector, Assa Abloy encompasses well-known brands like Yale and Union. With a rich production history in the Midlands, they offer a range of products from heavy-duty padlocks to brass cylinder padlocks. Their reputation is strengthened by their commitment to maintaining a portion of their manufacturing within the UK.
- Banham Patent Locks: This company stands out for its exclusive keyed padlocks, which are intricately linked to the prestige and reputation of the brand. Banham's emphasis on the unique and proprietary nature of their locking systems adds an extra layer of security, positioning them as a go-to for customers looking for bespoke safety solutions.
- Era Security Hardware: Era has a strong footing in the padlock market with offerings that include traditionally styled locks. Their attention to detail ensures that each lock is crafted to meet a high standard of quality, maintaining the 'Made in England' legacy. They also provide a range of options for those looking for different levels of security in their padlocks.
These companies all play significant roles in the UK padlock market, providing customers with varying levels of security, innovative features, and a choice of materials. From traditional padlocks to cutting-edge security solutions, they offer products to match a wide spectrum of needs, ensuring their positioning as prominent actors in the padlock industry.
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Summary and extracts
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 tempered steel (the latter bear the inscription "hardened"); some models are made with a one-piece case, others in brass that can 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. The UK imports a padlock value worth 43 millions dollars, placing the country in the 4th place worldwide.
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 Worldwide market
The following data is taken from UN comtrade with the indicator "****** - Padlocks; (***), of base metal.
Exports
Ranking of exporting countries by value and quantity of padlocks World, ****, in million US$ and million kg
Source: ****
This table gives the ranking of padlock exporting countries, which gives an idea of the main producing countries as well. Not surprisingly, China is by far the leader of the ranking, with *** million euros of exports for *** million kilos, which is almost * times more in value and ** times more in quantity than Mexico, second in the ranking.
The UK don't appeare in between the first ** countries by export, that means that their production stays in the country. It is possible to find the UK in the **th position with the value of export at *.** million dollars and *** thousands of pieces exported worldwide.
Imports
Ranking of importing countries by value and quantity of padlocks World, ****, in million US$ and million kg
Source: ****
As far as imports are concerned, the United States stands out, topping the list, with *** million euros worth of padlocks imported for **,* million kilos, i.e. four times more than Mexico's imports in value and three times more than Indonesia's imports in quantity
The Uk ...
1.3 British market
To understand how big is the UK padlock market value it is useful to see the values of the production of these items. Looking at the Eurostat webiste and checking the "PRCCODE ******** (***) - Base metal padlocks" is possibile to see that the production is valued ** million euros in ****. The value of the production trend is not constant, the value has decreased between **** and **** and it has recoverd in ****, overtaking ****.
UK production value of padlocks UK, ****-****, euros Source: ****
Regarding the quantities manifactuered, the date avaialbe arrived until ****. The quantites don't really follow the same trend as the value of the production. While the production value decreases in **** the quantity produced does not, and in ****, when there is an increase of the value of the prodcution, the quantities are not as big as the ones in ****, when the value of the production is similar to the one in ****. That means that there has been a change in the price of the producton.
UK padlock production quantity UK, ****-****, thousands of pieces Source: ****
It is possible to see the values of the exchange of padlocks beetween the UK and the other countries in the website UNComtrade under the HS code ****** "Padlocks".
A ...
1.4 Impact of Ukraine-Russia war
Worldwide, the price of some items have been particularly affected by the war, especially the ones where the production of the raw materials is in either Russia or Ukraine. As one of the main materials that are used to construct padlock is steel, the impact of the Ukraine-Russia war would impact the manufacturing sector because the majority of British steels come from these countries.
Some of the most affect metal production are nickel, aluminium and copper, in particularly the price of nickel has increased of the ***.*% since the war started in Feb. ****.
Influence of Ukraine-Russia war on the prices of metal raw materials World, ****-****, Source: ****
According to the Construction Products Association the steel products are more directly affected by the Ukraine war than other products as **% of UK imports of steel construction materials come from Russia and Ukraine, compared to *.*% of all UK products [***]. Steel-related products are commodities so the spikes in iron ore and steel prices will have also affected steel products. In addition, the cost of energy impacts the industry as it is necessary for the processing of metals and metal based items, such as padlocks.
Price of energy in the UK UK, December ****-August ****, base ****=*** Source: ****
2 Analysis of the demand
2.1 Padlock demand
As it said before, a locker is used to pretect someone's belongings from being stolen. One of tha main application would be to prevent the stealing of bicycles.
In the UK, the number of bicycles sold in **** has been * million. Since April ****, in the UK there has been a remarkable and rapid rise in demand for bicycles of every type – from childrens’ bikes, to mountain bikes (***). In ****, over *.* GBP million bicycles were purchased in Great Britain, about **% more than in any of the last five years. From **** till **** the sales revenue has increased about + **%.
The a boom of bicycle i the UK is a consequence of the Covid ** panedemic, in fact, during the first Covid lockdown in the spring of ****, many roads were closed for motor traffic to allow more people to cycle and walk freely and safely across the United Kingdom (***) have been created around the country.
Sales revenue of new bicycles in the United Kingdom UK, ****-****, million GBP Source : Ethical Consumer
With the number of bicycle increasing, also the number of theft is. The data regarding the number of 'theft or unauthorized taking of a pedal cycle' offences in England and Wales from ****/** to ****/**, the number has ...
2.2 Other drivers
Other drivers for the lockers demand would be the sales of suitcase and the sales of lockers,.
In the UK the value of the lockers sold in **** was **** millions of £, this number has been increasing since **** by **%.
Sales of manufacture of metal structures and parts of structures including lockers UK, *****-****, thousands of £ Source: National Satatistics SIC **.**
Sales of Manufacture of luggage, handbags and the like, saddlery and harness UK, *****-****, millions of £ Source: National Satatistics SIC **.**
3 Market structure
3.1How does a locker work
There are mainly two types of padlocks, combination locks (***), although we will see in part * that there are new ways of opening padlocks, involving new technologies. The type of padlock chosen depends on its future use.
Operation
The padlock is a locking system that hides a somewhat complex system: it consists of a metal case that contains two pistons that lock and unlock a hook. When the pins of the lock are aligned, the piston releases the hook, which opens the padlock. The operation is the same whether it is a code lock or a key lock, for the former the alignment of the pins is done by the barrel of the number combination, and for the latter, it is the notches of the key that align them. [***]
.
Measuring and making a padlock [***]
The measures of a padlock allow to differentiate them, and to accentuate certain aspect, a manufacturer can thus play on :
- Dimensions of the handle - The diameter of the handle - Shielding the handle - The height of the handle - The width of the handle - The width of the body
The materials used also play a role, depending on the area of use, the ...
3.2 Production of padlocks
It is possible to see the structure of the company that produces locks and hinges by cheking the SIC number **.**.
Currently, in the UK, there are *** manifacture registered, that produce these items, found mainly in the greather London area.
Type of manufacturing by number of people working in there UK, ****, percentage
Source: ****
3.3 Where to buy a padlock in the UK
The main stores where you can buy padlocks are usually big home department store, hardware retail stores or sports stores.
The most popular department and home stores in the United Kingdom in **** are B&Q, **%, and John Lewis, **%. These stores sell a variety of products, mainly bricolage, home DIY products and it is possible to find padlocks as you can use them to close and secure storehouses.
Most popular department and home stores in the United Kingdom UK, ****, percentage Source: ****
The number of hardware retail store in the UK has been kept pretty constant during the years, with a peak in ****, with **** sotres, that has been slowly decreasing at a rate of -*.**% from **** to ****.
Number of specialized stores for the retail sale of hardware, paints and glass UK, ****-****, units Source: ****
Lastly, another place to buy a locker, would be sports retails because, as it says in *.*, one of the biggest use for padlocks would be securing bikes, so pretty much wherever it is possible to buy a bike it is possible to buy a padlock. To give an idea how many specialized sports retails are in the UK and their trend, it is possible to look at the number ...
4 Analysis of the offer
4.1 Types of padlocks
We have seen that the dimensions, the materials, or even the types of closures of a padlock could vary, here are the different types of padlocks according to its 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 communal area, or when possession of a key is a constraint: sports hall changing rooms, luggage.
Weather conditions: corrosion, frost resistance...
The material of the padlock becomes a criterion to look at before purchase depending on whether it is used indoors, outdoors, in wet or dry locations. For example, in a humid area, typically near the sea, padlocks whose components are made of corrosion resistant materials are to be preferred, or frost resistant materials are necessary if the padlock is subjected to very low temperatures
The level of security
In some situations, the sight of the lock alone will deter and protect the items, but for other places, isolated for example (***), a higher security lock may be more useful, to avoid thieves trying to use noisier, and therefore effective, equipment to open the lock. The security also depends on the value of the objects ...
4.2 Prices
The prices of the padlocks varies a lot, depending on the material, on the security level, on the technology and on the brand. The following are the prices from the website PadlocksUK:
The prices of the padlocks depends on the industrial cost of them, which itselfs depends on raws materials price and energy. Eurostat recorded UK industrial prices until ****, before Brexit. As it follows the industrial prices of energy, casting metals and manufacturing them. TH eprice have been kept quite constat throughout the years:
Prices for the padlock industry UK, ****-****, index ****=*** Source: ****
4.3 New trends
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 and more locks are remotely controllable.
Source: ****
5 Regulation
5.1 Regulations
In order to produce padlocks in the UK, there is the British Standard (***) BS EN ***** that has to be follow.
This document applies to mechanical padlocks and padlock fittings used on buildings and general use, and specifies the test methods to be used. This document specifies performance and other requirements for strength, security, durability, performance, and corrosion resistance of padlocks. It establishes one category of use, two categories of durability, six categories for corrosion resistance and six grades for security based on performance tests that simulate attack. Limited manual attack testing is included in this document because the machine testing does not replicate all known manual attacks.
CLASSIFICATION
BS EN ***** classifies padlocks and padlock fittings by using a * digit coding system. A similar classification applies to all building hardware product standards so that complementary items of hardware can be specified to, for instance, a common level of corrosion resistance, category of use, etc. Each digit refers to a particular feature of the product measured against the standard’s performance requirements:
Digit * -> Category of use Digit * -> Durability Digit * -> Door Mass Digit * -> Fire Resistance Digit * -> Safety in use Digit * -> Corrosion Resistance Digit * -> Security Resistance
The DHF ...
6 Positioning of the actors
6.1 Segmentation
- John Lewis & Partners
- B&Q
- Reece Safety Products
- Era Security Hardware
- Banham Patent Lock
- Assa Abloy Ltd
- Picard Serrures
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