In 2020, the global padlock market was dominated by China, the world's leading exporter in terms of both value ($700 million) and quantity (143,000 tonnes), with Mexico a distant second. Technological advances have enabled the introduction of connected padlocks, but their adoption remains marginal compared with traditional mechanical locks. Although mechanical locks remain predominant, the emergence of connected padlocks, Bluetooth padlocks and fingerprint padlocks is notable. These advanced locking mechanisms enable unlocking via smart devices or biometric data. They currently occupy a marginal position on the market. Analysis of padlock market trends and dynamics The market for locks and fittings was set to decline by over 15% between 2014 and 2020, but rebounded strongly in 2021. Increasing use of bicycles, which have become an increasingly popular mode of transport, is creating significant demand for secure locking mechanisms. This is particularly true for electric bicycles (EBS),
