NEW YORK, Jan. 5, 2022 /PRNewswire/ -- 64% of the growth will originate from APAC for the mechanical locks market. China, India, Brazil, Indonesia, and Pakistan are the key markets for the mechanical locks market in APAC. Market growth in this region will be faster than the growth of the market in the rest of the regions. The increasing numbers of commercial offices and significance of technology in residential solutions especially in China and India will facilitate the mechanical locks market growth in APAC over the forecast period. The mechanical locks market is set to grow by USD 2.52 billion from 2021 to 2026. However, the growth momentum is likely to decelerate at a CAGR of 7.67% as per the latest market report by Technavio.
Attractive Opportunities in Mechanical Locks Market by End-user and Geography - Forecast and Analysis 2022-2026
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The mechanical locks market covers the following areas:
Mechanical Locks Market Sizing
Mechanical Locks Market Forecast
Mechanical Locks Market Analysis
Mechanical Locks Market - Driver
The increase in demand for emerging economies is one of the key factors driving the mechanical locks market growth. There has been a growth in urbanization and a rise in infrastructural investments, which are subsequently boosting the growth of the construction industry in developing nations such as India and Indonesia. Therefore, the demand for mechanical locks in...
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