Mechanical and Electromechanical Locks Market Will Reach USD 30,816.2 Million by 2030

The global mechanical and electromechanical locks market is projected to be worth USD 30,816.2 million by 2030, growing at a CAGR of 6.2%.

Due to the increasing need for energy-efficient technologies that allow consumers to remotely control their home appliances and other household systems, the smart home is one of the markets that is expanding quickly.

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Mechanical and Electromechanical Locks Market Analysis, 2022-2030
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Mechanical and Electromechanical Locks Market Analysis, 2022-2030

The global Mechanical and Electromechanical Locks Market size was $17,952.0 million in 2021, and it will grow at a CAGR of 6.2% during 2021–2030.