Electric Strikes Market Size: Market Outlook and Market Forecast (2024 to 2031)
Electric Strikes Market Trends, Growth Opportunities, and Forecast Scenarios
The Electric Strikes market is experiencing significant growth due to the rising demand for enhanced security systems in residential, commercial, and industrial applications. Electric strikes are electromechanical devices that are installed in door frames to provide additional security by allowing access control systems to unlock doors electronically. The increasing adoption of smart home devices and IoT technology is fueling the demand for electric strikes as they offer a secure and convenient way to manage access to buildings.
Market trends in the Electric Strikes market include the integration of advanced features such as biometric access control, remote monitoring, and real-time notifications. These features enhance the security and convenience of electric strikes, making them highly sought after in modern security systems. The market is also witnessing a growing preference for wireless electric strikes, which eliminate the need for complex wiring installation and provide more flexibility in placement.
The Electric Strikes market offers numerous growth opportunities for manufacturers and suppliers to expand their product offerings and reach new market segments. The increasing focus on high-security applications such as government facilities, financial institutions, and healthcare facilities is driving the demand for robust and reliable electric strikes. Additionally, the growing emphasis on energy efficiency and sustainability in buildings is creating a demand for eco-friendly electric strikes that consume less power.
Overall, the Electric Strikes market is poised for continued growth in the coming years, driven by technological advancements, increasing security concerns, and the expanding adoption of smart security solutions in various industries. Manufacturers and suppliers in the market must capitalize on these trends and opportunities to stay competitive and meet the evolving needs of customers.
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Electric Strikes Market Competitive Analysis
The competitive landscape of the Electric Strikes Market includes established companies such as Openers & Closers, Assa Abloy, BSI Hardware, DynaLock Corporation, Dorcas, Hartte, Security Door Controls, FSH Fire & Security Hardware, Vsionis, IDTECK Co. Ltd, SECO-LARM, Dorma, Sprint Locks, YLI Electronic, Shenzhen Nordson Electronic, Foshan City LCJ Electric Locks Factory, Shenzhen VIANS Electric Lock, Shenzhen Gomeit Co., and Zhongshan Anxing Lock. These companies offer a wide range of electric strikes products and solutions to meet the diverse needs of customers in the market, contributing to the growth of the Electric Strikes Market.
- Assa Abloy: $10 billion sales revenue
- Dorma: $ billion sales revenue
- SECO-LARM: $500 million sales revenue
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In terms of Product Type, the Electric Strikes market is segmented into:
Electric strikes come in various types based on holding force: Under 500kg, 500-750kg, 750-1250kg, and others. Electric strikes with holding forces under 500kg are suitable for light-duty applications, while those with holding forces ranging from 500-750kg are ideal for medium-duty purposes. Electric strikes with holding forces of 750-1250kg are designed for heavy-duty applications. These different types cater to a wide range of security needs, thereby boosting the demand for electric strikes in the market. Customers can choose a specific type based on the level of security required, leading to increased sales and market growth for electric strikes.
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In terms of Product Application, the Electric Strikes market is segmented into:
Electric strikes are commonly used in commercial and industrial applications to secure doors and gates. They are also used in other applications such as residential buildings, schools, and healthcare facilities. Electric strikes work by allowing doors to remain locked until an authorized person activates the strike through a control system, such as a keypad or access card reader.
The fastest growing application segment in terms of revenue is commercial buildings, as the need for advanced security systems continues to rise with the increase in office spaces and retail establishments. Additionally, the use of electric strikes in smart buildings is driving significant growth in this sector.
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Electric Strikes Industry Growth Analysis, by Geography
The electric strikes market is expected to witness significant growth in regions such as North America (NA), Asia-Pacific (APAC), Europe, USA, and China. These regions are expected to dominate the market due to the increasing demand for advanced security solutions in residential and commercial buildings. North America and Europe are expected to account for the largest market share, with USA leading in the North American region with a market share percent valuation of around 40%. China is also expected to witness rapid growth in the electric strikes market, with a market share percent valuation of approximately 25%.
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