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Global Safes and Vaults Market by Product, End-user, and Geography - Forecast and Analysis 2022-2026

  • Published: Jun 2022
  • Pages: 120
  • SKU: IRTNTR40488
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The safes and vaults market share is expected to increase to USD 1.79 billion from 2021 to 2026, at a CAGR of 6.5%.

This safes and vaults market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers safes and vaults market segmentation by product (cash management safes, gun safes and vaults, depository safes, vaults and vault doors, and others), end-user (non-banking and banking), and geography (APAC, Europe, North America, Middle East and Africa, and South America). The safes and vaults market report also offers information on several market vendors, including Access Security Products Ltd., Allegion Public Ltd. Co., Alpha Safe and Vault Inc., American Rebel Holdings Inc., American Security, BJARSTAL sarl, Blue Dot Safes Inc., Bode Panzer GmbH, Brown Safe Manufacturing Inc., Bumilsafe Mfg. Co., CMI Safe Co., Diebold Nixdorf Inc., dormakaba International Holding AG, Falcon Safe Marketing Sdn Bhd, Gardall Safe Corp., Godrej and Boyce Manufacturing Co. Ltd., Gunnebo AB, Hayman Safe Co. Inc., ISM, Kale Endustri Holding AS, and Kumahira Co. Ltd. among others.

What will the Safes and Vaults Market Size be During the Forecast Period?

Download the Free Report Sample to Unlock the Safes and Vaults Market Size for the Forecast Period and Other Important Statistics

 

Safes and Vaults Market: Key Drivers, Trends, and Challenges

The increasing demand from the healthcare industry is notably driving the safes and vaults market growth, although factors such as increase in cashless transactions may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the safes and vaults industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Safes and Vaults Market Driver

One of the key factors driving the global safes and vaults market growth is the increasing demand from the healthcare industry for storing prescription drugs and other high-value medicines. The number of reported drug and medicine thefts has increased consistently over the past few years in countries like North America, Europe, and other developed countries. Thus, governing bodies are also promoting safe drug storage and supply to avoid the illegal use of opioids. For instance, the storage of controlled drugs and related wastes in vaults or safes has been made mandatory in Australia since April 2011. The code also mandates raw materials comprising goods with high illicit value (GHIV) to be stored in vaults and safes. Moreover, in January 2013, Massachusetts became the 18th state in the US to decriminalize the use of marijuana by the 105 CMR 725.000 Act. It is mandatory to store medicinal marijuana and marijuana-infused products in safes and vaults. Such factors will drive the growth of the market in focus during the forecast period.

Key Safes and Vaults Market Trend

Incorporation of advanced technologies in safes and vaults such as biometrics, POS integration, and Internet protocols is one of the key safes and vaults market trends that is expected to impact the industry positively in the forecast period. Such safes and vaults ensure greater safety compared with their conventional counterparts. Many new-generation gun safes are being integrated with biometric access control systems to restrict the access of guns to authorized persons only. The smart safes are integrated with advanced counterfeit detection technologies that can detect counterfeit bank notes. Moreover, manufacturers are integrating Internet connectivity with the locking mechanisms of safes and vaults to enhance security. For instance, Sargent and Greenleaf Inc. offers NexusIP, an IP lock solution for safes and vaults. The lock works with the existing Wi-Fi connection and allows real-time monitoring of one or multiple safes and vaults. Such advances that enhance the security of safes and vaults are expected to fuel their adoption in the coming years.

Key Safes and Vaults Market Challenge

One of the key challenges to the global safes and vaults market growth is the increase in cashless transactions. There are several digital payment applications around the globe such as Google Pay, PayPal, Zelle, and several others, which support cashless transactions. Countries such as Norway and Sweden have significantly higher adoption of digital payment methods, and many banks have stopped dispensing cash through ATMs. The expansion of the e-commerce sector and the secure payment gateways offered by e-commerce companies are other factors that are encouraging digital payments across the globe. Digital payments have alleviated the concerns of merchants, retailers, and banks regarding the safety of cash. This has adversely affected the adoption of safes and vaults, which were previously used for the safe storage of cash. This is expected to limit the growth of the market in the forecast years.

This safes and vaults market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global safes and vaults market as a part of the global industrial machinery market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the safes and vaults market during the forecast period.

Who are the Major Safes and Vaults Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • Access Security Products Ltd.
  • Allegion Public Ltd. Co.
  • Alpha Safe and Vault Inc.
  • American Rebel Holdings Inc.
  • American Security
  • BJARSTAL sarl
  • Blue Dot Safes Inc.
  • Bode Panzer GmbH
  • Brown Safe Manufacturing Inc.
  • Bumilsafe Mfg. Co.
  • CMI Safe Co.
  • Diebold Nixdorf Inc.
  • dormakaba International Holding AG
  • Falcon Safe Marketing Sdn Bhd
  • Gardall Safe Corp.
  • Godrej and Boyce Manufacturing Co. Ltd.
  • Gunnebo AB
  • Hayman Safe Co. Inc.
  • ISM
  • Kale Endustri Holding AS
  • Kumahira Co. Ltd.

 

This statistical study of the safes and vaults market encompasses successful business strategies deployed by the key vendors. The safes and vaults market is fragmented and the vendors are deploying growth strategies such as technological advances to compete in the market.

Product Insights and News

  • Access Security Products Ltd. - Through the unified segment, the company operates as a manufacturer and supplier of a comprehensive range of burglary and fire-resistant safes, vaults, and physical security equipment. 
  • Access Security Products Ltd. - The company offers safes and vaults such as TL15, TL30, TL30X6, and TRTL30X6. 

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The safes and vaults market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Safes and Vaults Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the safes and vaults market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Safes and Vaults Market?

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36% of the market’s growth will originate from APAC during the forecast period. China, Japan, and India are the key markets for safes and vaults in APAC. However, market growth in this region will be slower than the growth of the market in North America.

Rapid population growth, coupled with economic development and increasing income levels in countries such as China and India will facilitate the safes and vaults market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

Due to COVID-19-induced extended lockdowns in 2020, customers became highly dependent on online purchases, which increased the growth of the market in the region. Countries such as China and Japan witnessed a 10%-20% growth in e-commerce sales in 2021 compared with 2020. Brick-and-mortar stores were unable to meet the high demand from customers. In addition, many retailers in APAC have already started converting their unused facilities in stores to last-mile delivery warehouses, which will create lucrative opportunities and will drive the growth of the regional market during the forecast period.

What are the Revenue-generating Product Segments in the Safes and Vaults Market?

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The safes and vaults market share growth by the cash management safes segment will be significant during the forecast period. These are used in banks, retail shops, and cash-in-transit (CIT) applications. These safes are usually integrated with liquid-crystal display (LCD) screens that feature various transaction options such as withdrawal, transfer, or deposit of cash. Evolving consumer requirements and the development of advanced software solutions are anticipated to drive technological advances in cash management safes, which will drive the segment growth in the forecast years.

This report provides an accurate prediction of the contribution of all the segments to the growth of the safes and vaults market size and actionable market insights on post COVID-19 impact on each segment.

 

Safes and Vaults Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Decelerate at a CAGR of 6.5%

Market growth 2022-2026

$ 1.79 billion

Market structure

Fragmented

YoY growth (%)

7.4

Regional analysis

APAC, Europe, North America, Middle East and Africa, and South America

Performing market contribution

APAC at 36%

Key consumer countries

US, China, Japan, India, Germany, and UK

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Access Security Products Ltd., Allegion Public Ltd. Co., Alpha Safe and Vault Inc., American Rebel Holdings Inc., American Security, BJARSTAL sarl, Blue Dot Safes Inc., Bode Panzer GmbH, Brown Safe Manufacturing Inc., Bumilsafe Mfg. Co., CMI Safe Co., Diebold Nixdorf Inc., dormakaba International Holding AG, Falcon Safe Marketing Sdn Bhd, Gardall Safe Corp., Godrej and Boyce Manufacturing Co. Ltd., Gunnebo AB, Hayman Safe Co. Inc., ISM, Kale Endustri Holding AS, and Kumahira Co. Ltd.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Safes and Vaults Market Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive safes and vaults market growth during the next five years
  • Precise estimation of the safes and vaults market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the safes and vaults industry across APAC, Europe, North America, Middle East and Africa, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of safes and vaults market vendors

We can help! Our analysts can customize this report to meet your requirements. Get in touch

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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Product
    • Exhibit 06: Executive Summary – Chart on Market Segmentation by End-user
    • Exhibit 07: Executive Summary – Chart on Incremental Growth
    • Exhibit 08: Executive Summary – Data Table on Incremental Growth
    • Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 10: Parent market
    • Exhibit 11: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 12: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 13: Market segments
  • 3.3 Market size 2021
    • 3.4 Market outlook: Forecast for 2021-2026
      • Exhibit 14: Chart on Global - Market size and forecast 2021-2026 ($ million)
      • Exhibit 15: Data Table on Global - Market size and forecast 2021-2026 ($ million)
      • Exhibit 16: Chart on Global Market: Year-over-year growth 2021-2026 (%)
      • Exhibit 17: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

    4 Five Forces Analysis

    • 4.1 Five forces summary
      • Exhibit 18: Five forces analysis - Comparison between 2021 and 2026
    • 4.2 Bargaining power of buyers
      • Exhibit 19: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
    • 4.3 Bargaining power of suppliers
      • Exhibit 20: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
    • 4.4 Threat of new entrants
      • Exhibit 21: Threat of new entrants – Impact of key factors in 2021 and 2026
    • 4.5 Threat of substitutes
      • Exhibit 22: Threat of substitutes – Impact of key factors in 2021 and 2026
    • 4.6 Threat of rivalry
      • Exhibit 23: Threat of rivalry – Impact of key factors in 2021 and 2026
    • 4.7 Market condition
      • Exhibit 24: Chart on Market condition - Five forces 2021 and 2026

    5 Market Segmentation by Product

    • 5.1 Market segments
      • Exhibit 25: Chart on Product - Market share 2021-2026 (%)
      • Exhibit 26: Data Table on Product - Market share 2021-2026 (%)
    • 5.2 Comparison by Product
      • Exhibit 27: Chart on Comparison by Product
      • Exhibit 28: Data Table on Comparison by Product
    • 5.3 Cash management safes - Market size and forecast 2021-2026
      • Exhibit 29: Chart on Cash management safes - Market size and forecast 2021-2026 ($ million)
      • Exhibit 30: Data Table on Cash management safes - Market size and forecast 2021-2026 ($ million)
      • Exhibit 31: Chart on Cash management safes - Year-over-year growth 2021-2026 (%)
      • Exhibit 32: Data Table on Cash management safes - Year-over-year growth 2021-2026 (%)
    • 5.4 Gun safes and vaults - Market size and forecast 2021-2026
      • Exhibit 33: Chart on Gun safes and vaults - Market size and forecast 2021-2026 ($ million)
      • Exhibit 34: Data Table on Gun safes and vaults - Market size and forecast 2021-2026 ($ million)
      • Exhibit 35: Chart on Gun safes and vaults - Year-over-year growth 2021-2026 (%)
      • Exhibit 36: Data Table on Gun safes and vaults - Year-over-year growth 2021-2026 (%)
    • 5.5 Depository safes - Market size and forecast 2021-2026
      • Exhibit 37: Chart on Depository safes - Market size and forecast 2021-2026 ($ million)
      • Exhibit 38: Data Table on Depository safes - Market size and forecast 2021-2026 ($ million)
      • Exhibit 39: Chart on Depository safes - Year-over-year growth 2021-2026 (%)
      • Exhibit 40: Data Table on Depository safes - Year-over-year growth 2021-2026 (%)
    • 5.6 Vaults and vault doors - Market size and forecast 2021-2026
      • Exhibit 41: Chart on Vaults and vault doors - Market size and forecast 2021-2026 ($ million)
      • Exhibit 42: Data Table on Vaults and vault doors - Market size and forecast 2021-2026 ($ million)
      • Exhibit 43: Chart on Vaults and vault doors - Year-over-year growth 2021-2026 (%)
      • Exhibit 44: Data Table on Vaults and vault doors - Year-over-year growth 2021-2026 (%)
    • 5.7 Others - Market size and forecast 2021-2026
      • Exhibit 45: Chart on Others - Market size and forecast 2021-2026 ($ million)
      • Exhibit 46: Data Table on Others - Market size and forecast 2021-2026 ($ million)
      • Exhibit 47: Chart on Others - Year-over-year growth 2021-2026 (%)
      • Exhibit 48: Data Table on Others - Year-over-year growth 2021-2026 (%)
    • 5.8 Market opportunity by Product
      • Exhibit 49: Market opportunity by Product ($ million)

    6 Market Segmentation by End-user

    • 6.1 Market segments
      • Exhibit 50: Chart on End-user - Market share 2021-2026 (%)
      • Exhibit 51: Data Table on End-user - Market share 2021-2026 (%)
    • 6.2 Comparison by End-user
      • Exhibit 52: Chart on Comparison by End-user
      • Exhibit 53: Data Table on Comparison by End-user
    • 6.3 Non-banking - Market size and forecast 2021-2026
      • Exhibit 54: Chart on Non-banking - Market size and forecast 2021-2026 ($ million)
      • Exhibit 55: Data Table on Non-banking - Market size and forecast 2021-2026 ($ million)
      • Exhibit 56: Chart on Non-banking - Year-over-year growth 2021-2026 (%)
      • Exhibit 57: Data Table on Non-banking - Year-over-year growth 2021-2026 (%)
    • 6.4 Banking - Market size and forecast 2021-2026
      • Exhibit 58: Chart on Banking - Market size and forecast 2021-2026 ($ million)
      • Exhibit 59: Data Table on Banking - Market size and forecast 2021-2026 ($ million)
      • Exhibit 60: Chart on Banking - Year-over-year growth 2021-2026 (%)
      • Exhibit 61: Data Table on Banking - Year-over-year growth 2021-2026 (%)
    • 6.5 Market opportunity by End-user
      • Exhibit 62: Market opportunity by End-user ($ million)

    7 Customer Landscape

    • 7.1 Customer landscape overview
      • Exhibit 63: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    8 Geographic Landscape

    • 8.1 Geographic segmentation
      • Exhibit 64: Chart on Market share by geography 2021-2026 (%)
      • Exhibit 65: Data Table on Market share by geography 2021-2026 (%)
    • 8.2 Geographic comparison
      • Exhibit 66: Chart on Geographic comparison
      • Exhibit 67: Data Table on Geographic comparison
    • 8.3 APAC - Market size and forecast 2021-2026
      • Exhibit 68: Chart on APAC - Market size and forecast 2021-2026 ($ million)
      • Exhibit 69: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
      • Exhibit 70: Chart on APAC - Year-over-year growth 2021-2026 (%)
      • Exhibit 71: Data Table on APAC - Year-over-year growth 2021-2026 (%)
    • 8.4 Europe - Market size and forecast 2021-2026
      • Exhibit 72: Chart on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 73: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 74: Chart on Europe - Year-over-year growth 2021-2026 (%)
      • Exhibit 75: Data Table on Europe - Year-over-year growth 2021-2026 (%)
    • 8.5 North America - Market size and forecast 2021-2026
      • Exhibit 76: Chart on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 77: Data Table on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 78: Chart on North America - Year-over-year growth 2021-2026 (%)
      • Exhibit 79: Data Table on North America - Year-over-year growth 2021-2026 (%)
    • 8.6 Middle East and Africa - Market size and forecast 2021-2026
      • Exhibit 80: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
      • Exhibit 81: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
      • Exhibit 82: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
      • Exhibit 83: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)
    • 8.7 South America - Market size and forecast 2021-2026
      • Exhibit 84: Chart on South America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 85: Data Table on South America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 86: Chart on South America - Year-over-year growth 2021-2026 (%)
      • Exhibit 87: Data Table on South America - Year-over-year growth 2021-2026 (%)
    • 8.8 US - Market size and forecast 2021-2026
      • Exhibit 88: Chart on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 89: Data Table on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 90: Chart on US - Year-over-year growth 2021-2026 (%)
      • Exhibit 91: Data Table on US - Year-over-year growth 2021-2026 (%)
    • 8.9 China - Market size and forecast 2021-2026
      • Exhibit 92: Chart on China - Market size and forecast 2021-2026 ($ million)
      • Exhibit 93: Data Table on China - Market size and forecast 2021-2026 ($ million)
      • Exhibit 94: Chart on China - Year-over-year growth 2021-2026 (%)
      • Exhibit 95: Data Table on China - Year-over-year growth 2021-2026 (%)
    • 8.10 Japan - Market size and forecast 2021-2026
      • Exhibit 96: Chart on Japan - Market size and forecast 2021-2026 ($ million)
      • Exhibit 97: Data Table on Japan - Market size and forecast 2021-2026 ($ million)
      • Exhibit 98: Chart on Japan - Year-over-year growth 2021-2026 (%)
      • Exhibit 99: Data Table on Japan - Year-over-year growth 2021-2026 (%)
    • 8.11 Germany - Market size and forecast 2021-2026
      • Exhibit 100: Chart on Germany - Market size and forecast 2021-2026 ($ million)
      • Exhibit 101: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
      • Exhibit 102: Chart on Germany - Year-over-year growth 2021-2026 (%)
      • Exhibit 103: Data Table on Germany - Year-over-year growth 2021-2026 (%)
    • 8.12 UK - Market size and forecast 2021-2026
      • Exhibit 104: Chart on UK - Market size and forecast 2021-2026 ($ million)
      • Exhibit 105: Data Table on UK - Market size and forecast 2021-2026 ($ million)
      • Exhibit 106: Chart on UK - Year-over-year growth 2021-2026 (%)
      • Exhibit 107: Data Table on UK - Year-over-year growth 2021-2026 (%)
    • 8.13 India - Market size and forecast 2021-2026
      • Exhibit 108: Chart on India - Market size and forecast 2021-2026 ($ million)
      • Exhibit 109: Data Table on India - Market size and forecast 2021-2026 ($ million)
      • Exhibit 110: Chart on India - Year-over-year growth 2021-2026 (%)
      • Exhibit 111: Data Table on India - Year-over-year growth 2021-2026 (%)
    • 8.14 Market opportunity by geography
      • Exhibit 112: Market opportunity by geography ($ million)

    9 Drivers, Challenges, and Trends

    • 9.1 Market drivers
      • 9.2 Market challenges
        • 9.3 Impact of drivers and challenges
          • Exhibit 113: Impact of drivers and challenges in 2021 and 2026
        • 9.4 Market trends

          10 Vendor Landscape

          • 10.1 Overview
            • 10.2 Vendor landscape
              • Exhibit 114: Overview on Criticality of inputs and Factors of differentiation
            • 10.3 Landscape disruption
              • Exhibit 115: Overview on factors of disruption
            • 10.4 Industry risks
              • Exhibit 116: Impact of key risks on business

            11 Vendor Analysis

            • 11.1 Vendors covered
              • Exhibit 117: Vendors covered
            • 11.2 Market positioning of vendors
              • Exhibit 118: Matrix on vendor position and classification
            • 11.3 Access Security Products Ltd.
              • Exhibit 119: Access Security Products Ltd. - Overview
              • Exhibit 120: Access Security Products Ltd. - Product / Service
              • Exhibit 121: Access Security Products Ltd. - Key offerings
            • 11.4 Allegion Public Ltd. Co.
              • Exhibit 122: Allegion Public Ltd. Co. - Overview
              • Exhibit 123: Allegion Public Ltd. Co. - Business segments
              • Exhibit 124: Allegion Public Ltd. Co. - Key news
              • Exhibit 125: Allegion Public Ltd. Co. - Key offerings
              • Exhibit 126: Allegion Public Ltd. Co. - Segment focus
            • 11.5 American Rebel Holdings Inc.
              • Exhibit 127: American Rebel Holdings Inc. - Overview
              • Exhibit 128: American Rebel Holdings Inc. - Product / Service
              • Exhibit 129: American Rebel Holdings Inc. - Key offerings
            • 11.6 Brown Safe Manufacturing Inc.
              • Exhibit 130: Brown Safe Manufacturing Inc. - Overview
              • Exhibit 131: Brown Safe Manufacturing Inc. - Product / Service
              • Exhibit 132: Brown Safe Manufacturing Inc. - Key offerings
            • 11.7 Diebold Nixdorf Inc.
              • Exhibit 133: Diebold Nixdorf Inc. - Overview
              • Exhibit 134: Diebold Nixdorf Inc. - Business segments
              • Exhibit 135: Diebold Nixdorf Inc. - Key offerings
              • Exhibit 136: Diebold Nixdorf Inc. - Segment focus
            • 11.8 Godrej and Boyce Manufacturing Co. Ltd.
              • Exhibit 137: Godrej and Boyce Manufacturing Co. Ltd. - Overview
              • Exhibit 138: Godrej and Boyce Manufacturing Co. Ltd. - Business segments
              • Exhibit 139: Godrej and Boyce Manufacturing Co. Ltd. - Key offerings
              • Exhibit 140: Godrej and Boyce Manufacturing Co. Ltd. - Segment focus
            • 11.9 Gunnebo AB
              • Exhibit 141: Gunnebo AB - Overview
              • Exhibit 142: Gunnebo AB - Product / Service
              • Exhibit 143: Gunnebo AB - Key offerings
            • 11.10 Hayman Safe Co. Inc.
              • Exhibit 144: Hayman Safe Co. Inc. - Overview
              • Exhibit 145: Hayman Safe Co. Inc. - Product / Service
              • Exhibit 146: Hayman Safe Co. Inc. - Key offerings
            • 11.11 Kale Endustri Holding AS
              • Exhibit 147: Kale Endustri Holding AS - Overview
              • Exhibit 148: Kale Endustri Holding AS - Product / Service
              • Exhibit 149: Kale Endustri Holding AS - Key offerings
            • 11.12 Kumahira Co. Ltd.
              • Exhibit 150: Kumahira Co. Ltd. - Overview
              • Exhibit 151: Kumahira Co. Ltd. - Product / Service
              • Exhibit 152: Kumahira Co. Ltd. - Key offerings

            12 Appendix

            • 12.1 Scope of the report
              • 12.2 Inclusions and exclusions checklist
                • Exhibit 153: Inclusions checklist
                • Exhibit 154: Exclusions checklist
              • 12.3 Currency conversion rates for US$
                • Exhibit 155: Currency conversion rates for US$
              • 12.4 Research methodology
                • Exhibit 156: Research methodology
                • Exhibit 157: Validation techniques employed for market sizing
                • Exhibit 158: Information sources
              • 12.5 List of abbreviations
                • Exhibit 159: List of abbreviations
              • in manufacturing industry: Market dynamics in some major processes and discrete industries are changing drastically, and manufacturers are gradually feeling the brunt of excessive demand fluctuations. The fluctuating prices of oil and gas and metals in the global market and the shortage of a skilled workforce worldwide have directly affected the profitability of manufacturing companies. A sudden and unexpected shift in market dynamics can drastically impact manufacturing processes and investments in capital goods.
                • slowdown in the automotive industry: High motorization rates in North America and Europe, the increase in tariffs on imported vehicles in the US and China, and the global economic slowdown are likely to reduce vehicle sales in the coming years. Anticipating a decline in vehicle sales, several vehicle manufacturers are halting their vehicle production. For instance, in March 2019, Ford announced the shutdown of its three vehicle-manufacturing sites in Russia. Similarly, in August 2019, Mahindra and Mahindra Ltd. stopped vehicle production at its manufacturing units in India for 8-14 days. During the same month, Maruti Suzuki announced that it had cut its vehicle production for the sixth consecutive month in 2019. In August 2019, Honda announced a halt in car production at its Argentina-based manufacturing plants. Such a slowdown in the automotive industry is expected to hamper the growth of the market during the forecast period.

                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
                Technavio

                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
                Technavio

                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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                The safes and vaults market market growth will increase by $$ 1.79 billion during 2023-2026.
                The safes and vaults market market is expected to grow at a CAGR of 6.5% during 2023-2026.
                Technavio has segmented the safes and vaults market market by product (Cash management safes, Gun safes and vaults, Depository safes, Vaults and vault doors, and Others) ,end-user (Non-banking and Banking) , and geography (APAC, Europe, North America, Middle East and Africa, and South America).
                Access Security Products Ltd., Allegion Public Ltd. Co., Alpha Safe and Vault Inc., American Rebel Holdings Inc., American Security, BJARSTAL sarl, Blue Dot Safes Inc., Bode Panzer GmbH, Brown Safe Manufacturing Inc., Bumilsafe Mfg. Co., CMI Safe Co., Diebold Nixdorf Inc., dormakaba International Holding AG, Falcon Safe Marketing Sdn Bhd, Gardall Safe Corp., Godrej and Boyce Manufacturing Co. Ltd., Gunnebo AB, Hayman Safe Co. Inc., ISM, Kale Endustri Holding AS, Kumahira Co. Ltd. are a few of the key vendors in the safes and vaults market market.
                APAC will register the highest growth rate of 36% among the other regions. Therefore, the safes and vaults market market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
                The key factors driving the safes and vaults market market growth are:
                • Increasing demand from healthcare industry
                • Incorporation of advanced technologies in safes and vaults
                The safes and vaults market market vendors should focus on grabbing business opportunities from the cash management safes segment as it accounted for the largest market share in the base year.
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