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 ...

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 ...

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 ...

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 ...

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, *****-****, ...

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 ...

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, ****, ...

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 ...

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, ...

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 ...

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 ...

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 ...

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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Latest news

Picard Serrures' Feuquières-en-Vimeu site undergoes major renovation - 15/06/2022
  • Picard Serrures has expanded and modernized its Feuquières-en-Vimeu site at a cost of 5 million euros
  • sales have risen from 12 to 21 million euros in ten years
  • A key player in the residential market, which accounts for 80% of sales
  • the market for renovation of houses, apartments and building lobbies is very dynamic

Companies quoted in this study

This study contains a complete overview of the companies in the market, with the latest figures and news for each company. :

John Lewis & Partners
B&Q
Reece Safety Products
Era Security Hardware
Banham Patent Lock
Assa Abloy Ltd
Picard Serrures

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