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Global Luggage Locks Market 2017-2021

  • Published: Oct 2017
  • Pages: 63
  • SKU: IRTNTR14434
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This industry research report identifies Hampton products International, Master Lock, Safe Skies, Samsonite, and Sinox as the key vendors in the global luggage locks market. A comprehensive analysis of this market is also presented by product type (built-in luggage locks and external luggage locks) and by geography (APAC, Europe, North America, and ROW).

Overview of the global luggage locks market

Technavio's market research analysis on the global luggage locks market has identified the growth of the luggage industry across the world as one of the major factors that will have a positive impact on the market's growth in the coming years. Rapid urbanization and improving lifestyles for different purposes such as travel, tour, and business are increasing the demand for various luggage categories such as travel bags, casual bags, and business bags. It has been observed that the travel bag segment will witness the maximum growth in the luggage industry during the forecast period. Developing countries such as China, India, and South Korea are witnessing an increased demand for travel bags. With luggage being considered as a lifestyle product in numerous developing countries, the dmand for locks to improve the safety and security of luggage will subsequently increase. Technavio's market research analysts predict that this market will register a revenue of more than USD 4.5 billion by 2021.

Luggage manufacturers are constantly focusing on modernizing and improving their product lines. Currently, luggage bags are offered with smarter technology and customers have a wide range of options to choose from. One of the popular manufacturers, Bluesmart has introduced super smart suitcases which can be connected to iOS and Android smartphones and offers improved control with the TSA-approved lock system. These suitcases automatically unlock when the smartphone is detected closer.  In addition to controlling the locks, the mobile applications can also provide information about the weight of the bag and the maximum permitted weight on an aircraft before the passenger heads to the airport. Such benefits will increase the demand for smart luggage locks, which according to this market research and analysis will be one of the major trends that will gain traction in the luggage locks market in the coming years.

Competitive landscape and key vendors  

The luggage locks market is characterized by the presence of numerous players. The market will witness the entry of new players since it is non-capital intensive. Luggage lock manufacturers mainly compete based on factors such as price, design, and technologies. They are following various strategies such as M&As and are focusing on the expansion of their product portfolios to expand their customer base and enhance their revenue shares.

The leading vendors in the market are ?

  • Hampton products International
  • Master Lock
  • Safe Skies
  • Samsonite
  • Sinox

The other prominent vendors in the market are Alpine Rivers, American Tourister, Delsey, FOSMON.com, and Skybags.

Segmentation by product type and analysis of the luggage locks market

  • Built-in luggage locks
  • External luggage locks

Built-in luggage locks provide the convenience of enabling authorities to unlock the luggage for inspection without any damage. These locks are available with smart and new technologies and many manufacturers are focusing on developing appropriate and easy-to-use locks such as smart luggage locks. Samsonite already offers luggage that have a side-mounted TSA lock for enhanced security. eGeeTouch offers smart luggage locks that enable users to operate them from remote location and also receive alerts. The built-in luggage locks segment will account for the maximum shares of the luggage locks market during the next few years.

Geographical segmentation and analysis of the luggage locks market

  • APAC
  • Europe
  • North America
  • ROW

Our analysts have predicted that APAC will account for the maximum shares of the luggage locks market till 2021. The increasing expansion of online retailers and the rising penetration of smart phones, will be the major factors driving the market's growth prospects in this region. Furthermore, the increasing popularity of smart locks due to their easy usage and convenience will also drive the market's growth in this region.

Key questions answered in the report include

  • What will the market size and the growth rate be in 2021?
  • What are the key factors driving the global luggage locks market?
  • What are the key market trends impacting the growth of the global luggage locks market?
  • What are the challenges to market growth?
  • Who are the key vendors in the global luggage locks market?
  • What are the market opportunities and threats faced by the vendors in the global luggage locks market?
  • Trending factors influencing the market shares of APAC, Europe, North America, and ROW.
  • What are the key outcomes of the five forces analysis of the global luggage locks market?

Technavio also offers customization on reports based on specific client requirement.

Our market research reports for the consumer and retail industry follow a thorough procedure of data collection methodology and present an analysis of fast growing market subdivisions like general retail goods and services. This upcoming industry research report on the global luggage locks market also offers insights into the major trends and evolving drivers inducing the growth of thGlobal Luggage Locks Market Sizee general retail goods and services industry.

This upcoming market research report on the global luggage locks market also covers vendors like Alpine Rivers, BlueCosto, Denko Marketing, FOSMON.COM, Hawks', HAMPTON PRODUCTS INTERNATIONAL, LuminTrail, Tarriss.com, Safe Skies, Master Lock, Lewis N' Clark, SAMSONITE IP HOLDINGS, and Forge Life. Our market research analysis includes primary and secondary research techniques like vendor briefings, telephone and online surveys, webinars, and podcasts, and industry journals and publications to help clients develop active growth strategies and keep pace with the frequently changing market landscape.Global Luggage Locks Market Market segmentation by region

According to our market research experts, product innovation in terms of features, technology, and benefits enabling product premiumization may influence the demand for luggage locks in the coming years. Furthermore, to offer clients the scope to identify potential market opportunities and expand in niche markets, this report on the global luggage locks market also covers geographies like the Americas, APAC, MEA, and Europe.

The upcoming industry report on the global luggage locks market also offers insights into fast-growing segments within the consumer and retail industry, including sectors like cosmetics and toiletry and toys and baby products. Furthermore, this report also presents visions into the varying competitive landscape and gives clients a realistic picture of the future direction of the industry.

Our market research methodology for the luggage locks market

Global Luggage Locks Market Segmentation

Technavio also offers clients the option to customize every report to suit their specific requirements and offers attractive discounts on all upcoming reports and future purchases.

PART 01: Executive summary

PART 02: Scope of the report

PART 03: Research Methodology

PART 04: Introduction

  • Market outline

PART 05: Market landscape

  • Market overview
  • Market size and forecast

PART 06: Five force analysis

  • Five forces analysis

PART 07: Market segmentation by product type

  • Global luggage locks market segmentation by product type

PART 08: Geographical segmentation

  • Global luggage locks market by geography
  • Luggage locks market in APAC
  • Market size and forecast
  • Luggage locks market in North America
  • Luggage locks market in Europe
  • Luggage locks market in ROW

PART 09: Key leading countries

  • US
  • Japan
  • China

PART 10: Decision framework

PART 11: Drivers and challenges

  • Market drivers
  • Market challenges

PART 12: Market trends

  • Increase in M&A activities
  • Growing online sales of luggage accessories
  • Increased demand for smart luggage locks

PART 13: Vendor landscape

  • Competitive scenario
  • Key competitive strategies
  • Other prominent vendors

PART 14: Key vendor analysis

  • Hampton Products International
  • Master Lock
  • Safe Skies
  • Samsonite
  • Sinox

PART 15: Appendix

  • List of abbreviations

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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