According to a report available on Radiant Insights, Inc. The security door market is projected to accrue lucrative revenue by 2022. It is expected to exhibit a significant CAGR over the forecast period (2016 to 2022). Changing lifestyles and the need for extended security in the current economic scenario contribute to the high adoption of security doors. Asia-Pacific is one of the fastest growing regions due to the exponential economic growth in China. Advent of Internet of Things (IoT) and introduction of smart technologies are the other significant growth drivers.
Home and industrial security solutions have been gaining prominence due to increased concerns regarding theft and robberies. Security door is the key component in barring unauthorized entry to strangers. These doors are embedded with sensors and alarms to alert the concerned personnel in case of trespassing. Key companies are attempting to streamline processes by buying raw materials directly from the source.
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Assa-Abloy, one of the leaders within the industry, has revamped its process to sustain competition in the security door market. The company has automated some processes in its factories with the installation of robots. It has also invested in digital channels to increase the existing sales volume. The company plans to use improved insulation technologies as well as recycled materials to reduce energy consumption. Stanley Security Solutions, another market leader, recently launched the latest version of its automatic door system at the Asia-Pacific Economic Cooperation (APEC) meeting in China. It is compliant with the latest fire safety regulations and can allow passage of heavy duty vehicles of nearly 6 feet in height.
Security door market is split on the basis of products, end-users, and regions. As per products, the segments are aluminum alloy, wood, and others. Aluminum alloy doors can provide enhanced security due to their tough exterior. Wood doors are mainly employed by home-users. These doors have steel cores for an additional layer of defense. Recently, Hodgson Sayers introduced their new security doors that adhere to some of the highest security standards. Its patented sealing system can make these doors virtually impenetrable.
Major market end-users are bifurcated into commercial and residential. Commercial may dominte the overall market on account of total share during the forecast period. Employment of steel security doors for extra level of protection can further support the growth. Residential segment invokes the use of screen doors and smart locks for better home security.
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Geographically, the Asia-Pacific (APAC) security door market is divided into South Korea, India, Japan, China, Taiwan, Southeast Asia, and Australia. China is anticipated to lead the overall market on account of demand during the forecast period. High economic growth and rapid industrialization are some of the key regional drivers. Assa Abloy-Wangli credits nearly 90% of its sales through China.
Australia is also expected to register a high CAGR till 2022. Rising mergers & acquisitions and new product launches can boost the regional expansion. For instance, recently, Allegion plc launched its stainless security door series for commercial applications. They can sustain sea sprays and other weather conditions. The company also recently acquired Milre Systek, a South Korean lock company, to widen its product portfolio.
Notable market participants are Zhejiang Jiahui Doors Co., Ltd., THC Metal Engineering Sdn Bhd, Milre Systek Co., Ltd., China Buyang Co., Ltd., and Assa Abloy-Wangli Security Products Co., Ltd. Mergers & acquisitions and partnerships are some of the chief business strategies adopted by the key players to gain greater market shares. Recently, Samsung S-1 Corporation joined hands with Vidsys to enter a distribution agreement in APAC. This partnership can expand the company’s brand presence and reach within the region.
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