NEW YORK, July 04, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report, “Cam Locks Market Forecast to 2028 – COVID-19 Impact and Global Analysis By Type, Application, and Handle Type” – https:// www.reportlinker.com/p06289892/?utm_source=GNW
North America is one of the largest markets in the world.
The construction industry is the backbone of the economy and is responsible for the construction and maintenance of the built infrastructure of cities, towns and communities. Infrastructure and construction have seen remarkable growth over the past decade, with some 50 skyscrapers completed in major cities like Toronto. Vancouver and Calgary.
This will lead to the growth of the cam locks market in the region.
The European cam lock market is a very diverse market with a group of more than 40 countries. Some economically strong countries like Germany, Italy, UK and Spain have witnessed the growth of cam locks market.
In the past decade, the region has seen a rapid increase in construction activity in both the residential and commercial sectors. 2021 saw a strong comeback in terms of new housing construction, which was paused in 2020.
This will directly drive the growth of cam locks market in Europe during the forecast period.
Fast-growing construction activities in countries like China and India are driving economic growth in the Asia-Pacific region. Despite the economic challenges, the construction industry in Asia Pacific recorded significant growth in 2021.
Demand for housing remained strong in the major economies. Infrastructure construction also saw significant investment, and regional construction companies expanded at a faster rate.
The tremendous development potential for single-family and multi-family home construction is driving the growth of the cam lock market in APAC.
Countries in North America, particularly the US, have seen an unprecedented increase in the number of confirmed COVID-19 cases. As a result, several small and medium-sized business owners have reduced their workforce in the industry, while many others have laid off non-essential employees in the near future due to restricted business operations.
During the late first quarter and throughout the second quarter of 2019, most manufacturing facilities operated with minimal staff or temporarily halted production and the supply chain of components and parts was disrupted. These are some of the critical issues faced by the North American countries that have hampered the growth of the cam locks market.
The semiconductor and hospitality industries are among the labor-affected industries in North America. As a result, the supply chain and demand for cam locks collapsed due to delays in shipments from lock manufacturers and falling demand from the hospitality industry.
This has led to a decrease in revenue generation in the Cam Locks market. Additionally, hotel construction and renovations in the US, Canada and Mexico declined significantly in 2020, showing weak demand for advanced locking systems such as cam locks.
The global cam locks market is segmented by type, application, and handle type. Based on the type, the market is segmented into regular and electronic.
In terms of application, cam locks market is segmented into metal furniture, wooden furniture, mailbox, car accessories, lockers, windows and doors, and others. Based on handle type, the market is segmented into T-handles, swing handles, L-handles and U-handles.
Cam locks are hardware used to lock furniture such as drawers and cabinets. Depending on how the lock is installed, the cam will fit within the hasp in one position and be free of the hasp when moved to another location.
Cam locks are among the simplest, least expensive, and easiest to install locking devices. The locks are often associated with filing cabinets and desks, but they can also be found in various other locations.
Electric panels, trophy cases and other display units use these locks. They can be used to prevent tampering with mechanical access panels and are even found in some older types of windows.
Cam locks are also used to secure some school lockers.
Cam locks are available in various forms to meet the needs of various applications. The large and durable locks are very secure and can be used on larger pieces of furniture or in high security applications.
Mini cam locks are used in limited space situations such as B. small panels used. Standard steel or brass finishes are used for indoor applications.
For outdoor applications, however, weather-resistant materials such as galvanized or stainless steel are used. Flat keys, rounded keys and even combination mechanisms are used to open these locks.
Flat keys are usually turned in the lock to turn the cam, whereas tubular keys may need to be pushed or hung. Combination systems allow users to open the lock without a key, which can be handy for school lockers or filing cabinets. In addition, cam locks are used for car accessories, asset management systems, bicycle locks, housings, windows and doors. The locks are used in various automotive applications such as: B. Motorhomes and RVs, fuel caps, trailer hitch locks and roof racks. Letterbox applications, like all outdoor applications, require water resistant locks with modern secure locking mechanisms. Cam locks are a long-term solution that prevents private mail theft. Due to their strength, cam locks are a popular solution for various industrial enclosures designed to protect mechanical or electrical equipment. Therefore, the wide range of uses of cam locks would open up lucrative opportunities for the cam lock market in the years to come.
Major players in the global cam lock market include Assa Abloy Group; Southco, Inc.; Dirak, Inc.; Emka, Inc.; Industry; Camlock Systems Ltd.; and JK Lock Co.,Ltd.
The total market size of Cam Locks has been derived using both primary and secondary sources. At the beginning of the research process, extensive secondary research was conducted using internal and external sources to obtain qualitative and quantitative information about the market.
The process also serves the purpose of obtaining an overview and forecast of the Cam Locks market with respect to all segments of the region. Also, several primary interviews were conducted with industry contributors and commentators to validate the data and gain more analytical insights into Cam Locks Market.
Participants in this process include industry experts such as VPs, business development managers, market intelligence managers and national sales managers, as well as external consultants such as valuation experts, research analysts and key opinion leaders specializing in the cam lock market.
Read the full report: https://www.reportlinker.com/p06289892/?utm_source=GNW
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