The Locksmith's Market - France

The global access control market is expected to grow by an average of 8.4% over the next five years, driven by the development of new technologies and access control systemsnew technologies and wireless security systems. The market in the USA, the world's leading producer of metal locks and hinges, is growing, and should continue to do so over the next few years. In France, the locks and fittings manufacturing business is set to grow by 5.88% in 2022, driven by a strong price effect. Germany is the sector's main trading partner, being the leading customer and supplier of locks and fittings products, followed by China, Spain and Italy for imports, and Spain, Belgium and Morocco for exports. The locksmith's market is largely dependent on a number of factors, including the new construction market, windows and doors, and feelings of insecurity. Recently, the locksmith's market has seen a revival with smart connected locks .[Connected objectthese locks can be locked and unlocked remotely using a smartphone or other terminal, usually with a Bluetooth connection. The market for connected locks is booming, supported by the growing popularity of home automation. Despite significant growth of nearly 6% in 2022, 2023 promises to be a more complex year for the sector. Faced with international crises in the real estate sector, the industry's main customers are experiencing a significant reduction in new housing construction, as well as a drop in transactions in existing property, combined with a decline in household purchasing power . This deterioration in the economic context represents a major challenge for the various players in the sector. In addition, theincrease in Chinese imports, which are taking up an ever-greater share of the market, combined with a worsening balance of trade, represents another problem facing industry players.