Southern Asia: Lock And Key Market 2024

Lock And Key Market Size in Southern Asia

In 2023, after two years of growth, there was decline in the South Asian lock and key market, when its value decreased by X% to $X. In general, consumption enjoyed a prominent expansion. The level of consumption peaked at $X in 2022, and then dropped in the following year.

Lock And Key Production in Southern Asia

In value terms, lock and key production reached $X in 2023 estimated in export price. Over the period under review, production saw a remarkable increase. The pace of growth appeared the most rapid in 2013 with an increase of X%. The level of production peaked at $X in 2021; afterwards, it flattened through to 2023.

Lock And Key Exports

Exports in Southern Asia

Lock and key exports dropped to X tons in 2023, falling by X% on 2022 figures. Total exports indicated a pronounced increase from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports decreased by X% against 2021 indices. The pace of growth was the most pronounced in 2021 with an increase of X%. As a result, the exports attained the peak of X tons. From 2022 to 2023, the growth of the exports remained at a somewhat lower figure.

In value terms, lock and key exports reduced to $X in 2023. In general, exports, however, recorded a strong increase. The pace of growth appeared the most rapid in 2021 with an increase of X%. As a result, the exports reached the peak of $X. From 2022 to 2023, the growth of the exports failed to regain momentum.

Exports by Country

The biggest shipments were from India (X tons), together recording X% of total export.

India was also the fastest-growing in terms of the padlocks, locks and keys of base metal exports, with a CAGR of X% from 2012 to 2023. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, India ($X) also remains the largest lock and key supplier in Southern Asia.

In India, lock and key exports expanded at an average annual rate of X% over the period from 2012-2023.

Export Prices by Country

In 2023, the export price in Southern Asia amounted to $X per ton, falling by X% against the previous year. Over the last eleven years, it increased at an average annual rate of X%. The growth pace was the most rapid in 2017 an increase of X% against the previous year. Over the period under review, the export prices reached the maximum at $X per ton in 2020; however, from 2021 to 2023, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for India.

From 2012 to 2023, the rate of growth in terms of prices for India amounted to X% per year.

Lock And Key Imports

Imports in Southern Asia

In 2023, imports of padlocks, locks and keys of base metal in Southern Asia expanded modestly to X tons, surging by X% compared with the previous year's figure. Over the period under review, imports continue to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. The volume of import peaked in 2023 and is likely to see steady growth in the near future.

In value terms, lock and key imports contracted to $X in 2023. In general, imports enjoyed a prominent increase. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, imports hit record highs at $X in 2022, and then fell in the following year.

Imports by Country

In 2023, India (X tons) was the key importer of padlocks, locks and keys of base metal, constituting X% of total imports. Bangladesh (X tons) ranks second in terms of the total imports with a X% share, followed by Pakistan (X%). The following importers - Nepal (X tons) and Sri Lanka (X tons) - each reached a X% share of total imports.

India was also the fastest-growing in terms of the padlocks, locks and keys of base metal imports, with a CAGR of X% from 2012 to 2023. At the same time, Nepal (X%), Bangladesh (X%), Pakistan (X%) and Sri Lanka (X%) displayed positive paces of growth. From 2012 to 2023, the share of India increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported padlocks, locks and keys of base metal in Southern Asia, comprising X% of total imports. The second position in the ranking was taken by Bangladesh ($X), with a X% share of total imports. It was followed by Pakistan, with a X% share.

In India, lock and key imports increased at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Bangladesh (X% per year) and Pakistan (X% per year).

Import Prices by Country

The import price in Southern Asia stood at $X per ton in 2023, which is down by X% against the previous year. Over the period under review, the import price showed a pronounced contraction. The pace of growth was the most pronounced in 2022 an increase of X%. The level of import peaked at $X per ton in 2013; however, from 2014 to 2023, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Bangladesh ($X per ton), while Pakistan ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Bangladesh (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform