Global Luggage Locks Market 2017-2021

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 the 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.

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

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