Cylindrical Locks Market By Size, Share, Demand & Forecast Till 2027
Market Highlights The global cylindrical locks market is projected to be valued at USD 3,324.64million by 2026, recording a CAGR of 4.91% during the forecast period. The growth of the cylindrical locks market is anticipated to be driven by several factors during the forecast period from 2020 to 2026. One of the key factors is the rising real estate industry worldwide. Additionally, the rising need for two-way cylindrical locks in emergency exits and the growing organized retail sector around the world are augmenting the growth of the global cylindrical locks market. However, the presence of private-label brands, growing application of smart locks, availability of advanced key duplication technologies, availability of advanced key duplication technologies, and occurrence of mechanical faults are expected to restrict the growth of the global cylindrical locks market during the forecast period. Furthermore, the increasing popularity of safer locking systems through innovations and upgra