South and Central America Cam Locks Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type, Application, and Handle Type

The South and Central America cam locks market is expected to reach US$ 174.70 million by 2028 from US$ 132.76 million in 2021. The market is estimated to grow at a CAGR of 4.0% from 2021 to 2028.

The increasing usage of cam locks in growing residential and commercial spaces is one of the primary drivers of market growth. Especially in commercial construction, due to the rise in urbanization, several commercial spaces are growing across the region. Adoption of cam locks from end-users such as office spaces, hotels, restaurants, public administrative buildings, shopping malls, and recreational facilities is rising. Cam lock is one of the most basic and often used locks in manufacturing cabinets and other furniture. It is vital in seating arrangements and document storage in commercial areas. In the residential construction sector, with the rise in compact households, multi-functional furniture has become popular, allowing for large storage. There has been an increase in extra home spaces for offices, which resulted in a demand for office furniture. The booming real estate industry is propelling the furniture market across the region. There are three basic types of furniture cam locks: - A flat key cam lock is opened by lining up the discs with a standard key in the style of a house key to allow rotation. It is the cheapest furniture cam lock, with a medium level of security. - A cam lock with a disc tubular disc is unlocked by a key that has a tubular-round shape and pushes into the cam lock rather than a flat aperture. This furniture cam lock is cost-effective and provides more security than the flat key cam lock. - A slam lock is a furniture cam lock that locks automatically when closed or slammed shut. The lock is suitable for secured enclosures and furniture carrying documents that require high protection, such as medical documents and confidential workplace and housing files. The growing construction industry thus acts as an impetus to the cam locks market growth.

With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the cam locks market growth. South and Central America cam lock market growth is expected to grow at a good CAGR during the forecast period

South and Central America Cam Locks Market Segmentation

The South and Central America cam locks market is segmented into type, application, and handle type. Based on type, the South and Central America cam locks market is segmented into regular and electronic. Based on application, the South and Central America cam locks market is segmented into metal furniture, wooden furniture, mail boxes, automotive accessories, lockers, windows and doors, and others. Based on handle type, the South and Central America cam locks market is segmented into T-handle, swing handle, l-handle, and bail handle. Based on Geography, the South and Central America cam locks market is segmented into Brazil, Argentina, and the Rest of SAM.

Companies Mentioned

Assa Abloy Group; Southco, Inc; Industrilas AB; and Camlock Systems Ltd are among the leading companies in the South and Central America cam locks market.