Safe & Vault Manufacturing in the US - Industry Market Research Report

Lock Box: Renewed Business Activity Will Boost Demand, while Imports Continue to Threaten

Safe and vault manufacturers have thrived as consumers and businesses require secure storage for cash, gold, guns, documents and other valuable items. Residential consumers buy small and medium-size safes to store cash as a security measure for home invasions. Looming regulations regarding gun ownership have also caused homeowners to purchase guns for safety purposes. Guns are best kept safe in a secure storage unit and gun safes provide just that. While safes and vaults are a staple among commercial businesses and banks, these markets do not purchase safes or vaults frequently. Hospitals and clinics have been a bright spot for manufacturers, using safes and vaults to store medicine, sensitive documents, equipment and vaccinations. Overall, industry revenue is expected to increase at a CAGR of 3.5% over the five years, reaching an estimated $821.7 million in 2023, including a 1.7% fall in 2023. This industry manufactures safes for residential, commercial and banking use. Industry products include freestanding safe containers for storing cash and guns, as well as vault safes built into walls. Other services, such as safe cracking and repair, are excluded from industry operations. This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.