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India - Padlocks, Locks And Keys Of Base Metal - Market Analysis, Forecast, Size, Trends and Insights
Report Update: May 1, 2024

India - Padlocks, Locks And Keys Of Base Metal - Market Analysis, Forecast, Size, Trends and Insights

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Article Publishing Date: Sep 6, 2023

Price of Locks and Keys in India Drops by 3% to $3,246 per Ton Following Two Straight Months of Decline

India Lock And Key Import Price in June 2023

In June 2023, the lock and key price amounted to $3,246 per ton (CIF, India), waning by -2.9% against the previous month. Overall, the import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in April 2023 when the average import price increased by 39% against the previous month. As a result, import price reached the peak level of $3,843 per ton. From May 2023 to June 2023, the average import prices remained at a lower figure.

Prices varied noticeably by the country of origin: the country with the highest price was Germany ($9,944 per ton), while the price for China ($2,100 per ton) was amongst the lowest.

From June 2022 to June 2023, the most notable rate of growth in terms of prices was attained by Hong Kong (+4.6%), while the prices for the other major suppliers experienced mixed trend patterns.

India Lock And Key Import Prices By Country (USD Per Ton)
COUNTRYImport Price of Lock And Key in India (USD per ton)
Jun 2022Jul 2022Aug 2022Sep 2022Oct 2022Nov 2022Dec 2022Jan 2023Feb 2023Mar 2023Apr 2023May 2023Jun 2023
Germany8,7159,6798,8658,75710,1878,4618,4577,88213,0159,04211,6019,9849,944
South Korea9,4788,5047,8267,4809,0797,7847,3658,1856,6127,52210,3028,6539,306
Taiwan (Chinese)6,3767,3285,9076,3646,1585,7236,0695,8128,3334,4826,0225,5726,066
Hong Kong2,9433,3783,7193,9003,9413,9106,3493,1223,8264,5503,5382,9355,036
China2,1792,1422,2392,2182,0432,1411,7351,9101,4211,3532,3352,1772,100
Average3,3243,2673,5033,4553,5233,5482,7143,0312,1522,7643,8433,3443,246

India Lock And Key Import Prices by Type

Prices varied noticeably by the product type; the product with the highest price was base metal keys ($40,743 per ton), while the price for base metal mountings, fittings and similar articles for furniture, doors, staircases, windows, trunks, chests etc, castors with mountings of base metal, automatic door closers of base metal ($2,697 per ton) was amongst the lowest.

From June 2022 to June 2023, the most notable rate of growth in terms of prices was attained by base metal padlock (+30.2%), while the prices for the other products experienced more modest paces of growth.

India Lock And Key Imports

In June 2023, imports of padlocks, locks and keys of base metal into India dropped to 15K tons, with a decrease of -8.1% compared with the previous month's figure. Over the period under review, imports saw a noticeable shrinkage. The most prominent rate of growth was recorded in May 2023 when imports increased by 27% m-o-m.

In value terms, lock and key imports reduced to $49M (IndexBox estimates) in June 2023. Overall, imports recorded a pronounced reduction. The most prominent rate of growth was recorded in April 2023 when imports increased by 16% month-to-month.

India Lock And Key Imports by Type

In June 2023, base metal mountings, fittings and similar articles for furniture, doors, staircases, windows, trunks, chests etc, castors with mountings of base metal, automatic door closers of base metal (15K tons) was the main type of lock and key supplied to India, with a 97% share of total imports. It was followed by locks; (other than those for motor vehicles or furniture), (key, combination or electrically operated), of base metal (226 tons), with a 1.5% share of total imports. Base metal motor vehicle locks (104 tons) ranked third in terms of total imports with a 0.7% share.

From June 2022 to June 2023, the average monthly rate of growth in terms of the volume of import of base metal mountings, fittings and similar articles for furniture, doors, staircases, windows, trunks, chests etc, castors with mountings of base metal, automatic door closers of base metal amounted to -1.3%. With regard to the other supplied products, the following average monthly rates of growth were recorded: locks; (other than those for motor vehicles or furniture), (key, combination or electrically operated), of base metal (-11.2% per month) and base metal motor vehicle locks (-5.7% per month).

In value terms, base metal mountings, fittings and similar articles for furniture, doors, staircases, windows, trunks, chests etc, castors with mountings of base metal, automatic door closers of base metal ($40M) constituted the largest type of lock and key supplied to India, comprising 81% of total imports. The second position in the ranking was held by locks; (other than those for motor vehicles or furniture), (key, combination or electrically operated), of base metal ($5.3M), with an 11% share of total imports. It was followed by base metal motor vehicle locks, with a 4.2% share.

India Lock And Key Imports by Country

In June 2023, China (13K tons) constituted the largest lock and key supplier to India, accounting for a 86% share of total imports. Moreover, lock and key imports from China exceeded the figures recorded by the second-largest supplier, Germany (582 tons), more than tenfold. South Korea (392 tons) ranked third in terms of total imports with a 2.6% share.

From June 2022 to June 2023, the average monthly rate of growth in terms of volume from China totaled -1.6%. The remaining supplying countries recorded the following average monthly rates of imports growth: Germany (-3.3% per month) and South Korea (-1.8% per month).

In value terms, China ($27M) constituted the largest supplier of lock and key to India, comprising 55% of total imports. The second position in the ranking was held by Germany ($5.8M), with a 12% share of total imports. It was followed by South Korea, with a 7.4% share.

From June 2022 to June 2023, the average monthly growth rate of value from China stood at -1.9%. The remaining supplying countries recorded the following average monthly rates of imports growth: Germany (-2.2% per month) and South Korea (-1.9% per month).

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the lock and key market in India. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

  • Prodcom 25721130 - Base metal padlocks
  • Prodcom 25721150 - Base metal motor vehicle locks
  • Prodcom 25721170 - Base metal furniture locks
  • Prodcom 25721230 - Base metal cylinder locks used for doors of buildings
  • Prodcom 25721250 - Base metal locks used for doors of buildings (excluding cylinder locks)
  • Prodcom 25721270 - Base metal locks (excluding padlocks, motor vehicle locks, f urniture locks and locks used for doors of buildings)
  • Prodcom 25721330 - Base metal clasps and frames with clasps, with locks (excluding fasteners and clasps for handbags, brief-cases and executive-cases)
  • Prodcom 25721350 - Base metal keys presented separately (including roughly cast, forged or stamped blanks, skeleton keys)
  • Prodcom 25721410 - Base metal hinges
  • Prodcom 25721420 - Castors with mountings of base metal
  • Prodcom 25721430 - Base metal mountings, fittings and similar articles suitable for motor vehicles (excluding hinges, castors, locks and keys)
  • Prodcom 25721440 - Base metal mountings, fittings and similar articles suitable for buildings (excluding hinges, castors, locks, keys, spy holes fitted with optical elements and key operated door bolts)
  • Prodcom 25721450 - Base metal mountings, fittings and similar articles suitable for furniture (excluding hinges, castors, locks and keys)
  • Prodcom 25721460 - Other base metal mountings, fittings and similar articles (excluding for motor vehicles, buildings or furniture)
  • Prodcom 25721470 - Base metal automatic door closers
  • Prodcom 25721480 - Base metal hat-racks, hat-pegs, brackets, coat racks, towel racks, dish-cloth racks, brush racks and key racks (excluding coat-racks having the character of furniture)

Country coverage:

  • India

Data coverage:

  • Market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Trade (exports and imports) in India
  • Export and import prices
  • Market trends, drivers and restraints
  • Key market players and their profiles

Reasons to buy this report:

  • Take advantage of the latest data
  • Find deeper insights into current market developments
  • Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS

  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO

  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. MARKET STRUCTURE
    3. TRADE BALANCE
    4. PER CAPITA CONSUMPTION
    5. MARKET FORECAST TO 2030

  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT

  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. TOP EXPORTING COUNTRIES
    4. LOW-COST EXPORTING COUNTRIES

  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Exports

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS

  7. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE

  8. 8. IMPORTS

    The Largest Import Supplying Countries

    1. IMPORTS FROM 2012–2023
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. EXPORTS

    The Largest Destinations for Exports

    1. EXPORTS FROM 2012–2023
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO

  11. LIST OF TABLES

    1. Key Findings In 2023
    2. Market Volume, In Physical Terms, 2012–2023
    3. Market Value, 2012–2023
    4. Per Capita Consumption In 2012-2023
    5. Imports, In Physical Terms, By Country, 2012–2023
    6. Imports, In Value Terms, By Country, 2012–2023
    7. Import Prices, By Country Of Origin, 2012–2023
    8. Exports, In Physical Terms, By Country, 2012–2023
    9. Exports, In Value Terms, By Country, 2012–2023
    10. Export Prices, By Country Of Destination, 2012–2023

  12. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2023
    2. Market Value, 2012–2023
    3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
    4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
    5. Trade Balance, In Physical Terms, 2012-2023
    6. Trade Balance, In Value Terms, 2012-2023
    7. Per Capita Consumption, 2012-2023
    8. Market Volume Forecast to 2030
    9. Market Value Forecast to 2030
    10. Products: Market Size And Growth, By Type
    11. Products: Average Per Capita Consumption, By Type
    12. Products: Exports And Growth, By Type
    13. Products: Export Prices And Growth, By Type
    14. Production Volume And Growth
    15. Exports And Growth
    16. Export Prices And Growth
    17. Market Size And Growth
    18. Per Capita Consumption
    19. Imports And Growth
    20. Import Prices
    21. Production, In Physical Terms, 2012–2023
    22. Production, In Value Terms, 2012–2023
    23. Imports, In Physical Terms, 2012–2023
    24. Imports, In Value Terms, 2012–2023
    25. Imports, In Physical Terms, By Country, 2023
    26. Imports, In Physical Terms, By Country, 2012–2023
    27. Imports, In Value Terms, By Country, 2012–2023
    28. Import Prices, By Country Of Origin, 2012–2023
    29. Exports, In Physical Terms, 2012–2023
    30. Exports, In Value Terms, 2012–2023
    31. Exports, In Physical Terms, By Country, 2023
    32. Exports, In Physical Terms, By Country, 2012–2023
    33. Exports, In Value Terms, By Country, 2012–2023
    34. Export Prices, By Country Of Destination, 2012–2023

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