Locker Market - Introduction
A locker is a storage compartment in which products are kept safely. Lockers are made from various materials such as aluminum, steel, plastic, wood, etc.
Demand for lockers has been on the rise due to change in lifestyle of people. Consumers have become more aware about safety and security of their valuables. For security purposes, consumers prefer electric lockers to keep their valuables such as money and jewelry safe.
Locker Market - Competitive Landscape
Incorporated in 1963, Spacesaver Corporation is based in Wisconsin, United States and was formerly known as Staller Cabinets. The company offers various products such as high-density mobile shelving, day use lockers, evidence storage, filing cabinet storage, locker storage, metal shelving, modular storage, art racks, museum storage cabinets, nurse server (known as CoreStor), parachute storage, and weapons storage.
Industrial Manufacturing Company, LLC
Industrial Manufacturing Company, LLC was founded in 2005 in Ohio, United States. The company has more than 3,500 employees in 34 manufacturing countries. Penco is the brand of the company through which it sells lockers in the market.
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InterMetro Industries Corporation
Founded in 1929, InterMetro Industries Corporation is based in Pennsylvania, United States. The company was founded by Louis Maslow. The company manufactures over 30,000 products such as advanced polymer shelving, medical and special application carts, storage cabinets, heated cabinets, high-density shelving, wall storage systems, and stainless fabricated products. The company offers products to foodservice companies, healthcare, industrial sector, labs, and grocery stores.
Some of the key players operating in the global locker market include Industrial Manufacturing Company LLC, Dexion (Australia) Pty Ltd., Intermetro Industries Corporation, idX Corporation, Pather Plastics Canada Inc., Comany Inc., Shenzhen Wanruntong Building Materials Co. Ltd., Hufcor Inc., Kinnarps Ab, Dorma Hueppe Pty Ltd, Activar Inc., Spacesaver Corporation, Groupe Artitalia Inc, Universal Display And Fixture Company, Nanjing Inform Storage Equipment (Group) Co., Ltd., The Bobrick Corporation, Lyon Workspace Products LLC, and Mecalux México S.A. De C.V.
Locker Market – Dynamics
Increasing awareness about security
Demand for lockers has increased due to change in lifestyle of people. Consumers wish to keep their valuables safe. Increasing disposable income is also a factor driving the growth of the global locker market. Innovation has developed more secure and light weight lockers. Manufacturers are adding fingerprint technology in the locker systems to keep it more safe and secure.
Growth in construction and renovation of residential and commercial buildings
Increasing construction of commercial and residential buildings has enhanced the demand for lockers. Some companies prefer that employees keep their valuables in lockers. These lockers are widely used in fitness centers, healthcare, educational facilities, commercial, and industrial locations etc.
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Locker Market – Segmentation
The locker market can be bifurcated on the basis of:
- Distribution Channel
Locker Market Segmentation – By Product
Based on product, the locker market can be divided into:
- Metal Lockers
- Laminate Lockers
- Wood Lockers
- Plastic and Phenolic Lockers
Locker Market Segmentation – By Type
Based on type, the locker market can be divided into:
- Electronic Lock
- Manual Lock
Locker Market Segmentation – By Size
In terms of size, the locker market can be divided into:
- 1 and 2 Tier
- 3 and 4 Tier
- More Than 4 Tier
Locker Market Segmentation – By Application
In terms of application, the locker market can be divided into:
Locker Market Segmentation – By Distribution Channel
Based on distribution channel type, the locker market can be divided into:
- Supermarkets/ Hypermarkets
- Specialty Stores
- Departmental stores
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.