04th October 2019 – The global Baby Safety Lock Market is expected to display higher growth rate over the upcoming years. Rapid surge in the market is credited to the growing concerns among parent regarding baby’s safety and increasing product penetration in global market. In addition, rising disposable income, increasing awareness level among parents and improved living standards are expected to drive the growth of the market over the forecast period. Globally, market is predicted to generate massive revenue over the forecast period, providing numerous opportunities for industry participants to invest in research and development of baby safety locks market.
Increasing efforts by government authorities such as European Child Safety Alliance to develop product safer for children is anticipated to boost the growth of baby safety lock market over the forecast period. Rising awareness level among parents regarding advantages of baby safety locks and development of innovative product designs are further propelling market demand over the past few years. Use of baby safety locks in vehicle doors, and increasing deployment of hidden magnetic cabinet locks are predicted to fuel market growth over the coming years.
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Baby safety lock are termed as a special-purpose lock that are used for locking cabinets, drawers, bottles, etc. Baby safety locks are designed such that they prevent children from getting at any dangerous things or contents. Young children are organically curious in nature to their surroundings, thus will always explore. However, they are unaware of dangerous substances or situations, hence the need for safety locks has become utmost important.
The baby safety locks market is broadly categorized into major three segments based on the product type such as magnetic cabinet locks, cord cabinet locks and sliding cabinet locks. Magnetic cabinet locks segment is growing rapidly in the market with substantial revenue generation in the last few years.
• Mag Security
• Mommy's Helper
• Safety First
• Summer Infant
• Tv Guard
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The baby safety locks industry is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in implementation of latest technologies in manufacturing sector, surge in number of research & development activities and existence of well-established industrial infrastructure in the region. In European region, Germany, France, and United Kingdom are projected to witness steady growth.
Asia-Pacific region is estimated to hold a major share in the baby safety locks market with massive growth in forecast period. Countries such as India, China and Singapore are leading the Asia-Pacific market with strong economic growth, increasing product penetration in newer markets, availability of several online as well as offline distribution channels, and significant investment by leading industry players considering potential growth opportunities in the region.