The padlock market - France

A padlock is a tool for locking 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, from the locking system, to the degree of security, to the different dimensions and materials used to adapt to any type of use. China is the main exporter of padlocks, in 2020, it exported 5 times more than the second largest exporter, Mexico. France is very present in the international trade of padlocks, 7th exporter and 3rd importer in value. Unfortunately, France's trade balance is in deficit, and has been for years. Generally speaking, the French padlock market is not the best off, for example, there has been a 40% drop in turnover between 2010 and 2020. 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. Nevertheless, their use is still secondary and the priority is mechanical locks. The 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 which unfortunately suffers from numerous thefts. This is where the lock comes in, it is the ideal tool to reassure users, especially since with the development of EBS (electric bicycles), the value of bicycles increases and with it, the amount invested in the lock in order to protect the investment made in the bike.