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Locksmiths in the US Industry Data and Analysis
Over the five years to 2025, industry conditions for US locksmiths have faced notable headwinds and some shifting demand patterns. The pandemic and resulting economic volatility initially slowed non-essential service calls, constrained project-based business and contributed to supply chain challenges that made procuring materials less predictable. At the same time, consumer adoption of smart locks, electronic access systems and demand for rapid, on-demand mobile services gradually gained ground, altering the service mix for many locksmiths. Despite these positive developments in certain market niches, industry revenue is expected to decrease at a CAGR of 0.2% to $2.9 billion over the five years to 2025, despite an increase of 1.3% in 2025 alone. Competitive pricing, increased do-it-yourself options for digital products and uneven recovery in some institutional segments have also weighed on results.
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What's included in this industry analysis
IBISWorld's research coverage on the Locksmiths industry in the United States includes market sizing, forecasting, data and analysis from 2015-2030. The most recent publication was released June 2025.
About this industry
What's this industry report about?
The Locksmiths industry in the United States operates under the NAICS industry code OD4833. This industry performs installation, repair, rebuilding and adjusting services for security systems, along with lock management of keying and key control systems. Companies also sell locking devices, safes and security vaults. Related terms covered in the Locksmiths industry in the United States include do-it-yourself (diy), key-duplicating machine, key blank and time lock.
What's included in this industry?
Products and services covered in Locksmiths industry in the United States include Nonresidential security system installation and repair, Residential security system installation and repair and Residential and nonresidential system services with monitoring.
What companies are included in this industry?
The Locksmiths industry in the United States is highly fragmented with no companies holding a market share greater than 5%.
Performance
What's included in the Performance chapter?
The Performance chapter covers detailed analysis, datasets, detailed current performance, sources of volatility and an outlook with forecasts for the Locksmiths industry in the United States.
Questions answered in this chapter include what's driving current industry performance, what influences industry volatility, how do successful businesses overcome volatility, what's driving the industry outlook. This analysis is supported with data and statistics on industry revenues, costs, profits, businesses and employees.
Products & Markets
What's included in the Products and Markets chapter?
The Products and Markets chapter covers detailed products and service segmentation and analysis of major markets for the for the Locksmiths industry in the United States.
Questions answered in this chapter include how are the industry's products and services performing, what are innovations in industry products and services, what products or services do successful businesses offer and what's influencing demand from the industry's markets. This includes data and statistics on industry revenues by product and service segmentation and major markets.
Geographic Breakdown
What's included in the Geographic Breakdown chapter?
The Geographic Breakdown chapter covers detailed analysis and datasets on regional performance of the Locksmiths industry in the United States.
Questions answered in this chapter include where are industry businesses located and how do businesses use location to their advantage. This includes data and statistics on industry revenues by location.
Competitive Forces
What's included in the Competitive Forces chapter?
The Competitive Forces chapter covers the concentration, barriers to entry and supplier and buyer profiles in the Locksmiths industry in the United States. This includes data and statistics on industry market share concentration, barriers to entry, substitute products and buyer & supplier power.
Questions answered in this chapter include what impacts the industry's market share concentration, how do successful businesses handle concentration, what challenges do potential industry entrants face, how can potential entrants overcome barriers to entry, what are substitutes for industry services, how do successful businesses compete with substitutes and what power do buyers and suppliers have over the industry and how do successful businesses manage buyer & supplier power.
Companies
What's included in the Companies chapter?
The Companies chapter covers Key Takeaways, Market Share and Companies in the Locksmiths industry in the United States. This includes data and analysis on companies operating in the industry that hold a market share greater than 5%.
Questions answered in this chapter include what companies have a meaningful market share and how each company is performing.
External Environment
What's included in the External Environment chapter?
The External Environment chapter covers Key Takeaways, External Drivers, Regulation & Policy and Assistance in the Locksmiths industry in the United States. This includes data and statistics on factors impacting industry revenue such as economic indicators, regulation, policy and assistance programs.
Questions answered in this chapter include what demographic and macroeconomic factors impact the industry, what regulations impact the industry, what assistance is available to this industry.
Financial Benchmarks
What's included in the Financial Benchmarks chapter?
The Financial Benchmarks chapter covers Key Takeaways, Cost Structure, Financial Ratios, Valuation Multiples and Key Ratios in the Locksmiths industry in the United States. This includes financial data and statistics on industry performance including key cost inputs, profitability, key financial ratios and enterprise value multiples.
Questions answered in this chapter include what trends impact industry costs and how financial ratios have changed overtime.
Industry Data
What's included in the Industry Data chapter?
The Industry Data chapter includes 10 years of historical data with 5 years of forecast data covering statistics like revenue, industry value add, establishments, enterprises, employment and wages in the Locksmiths industry in the United States.
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Frequently Asked Questions
What is the market size of the Locksmiths industry in the United States in 2026?
The market size of the Locksmiths industry in the United States is $2.9bn in 2026.
How many businesses are there in the Locksmiths industry in the United States in 2025?
There are 29,304 businesses in the Locksmiths industry in the United States, which has grown at a CAGR of 3.9 % between 2020 and 2025.
How may import tariffs affect the Locksmiths industry in the United States?
The Locksmiths industry in the United States is unlikely to be materially impacted by import tariffs with imports accounting for a low share of industry revenue.
How may export tariffs affect the Locksmiths industry in the United States?
The Locksmiths industry in the United States is unlikely to be materially impacted by export tariffs with exports accounting for a low share of industry revenue.
Has the Locksmiths industry in the United States grown or declined over the past 5 years?
The market size of the Locksmiths industry in the United States has been declining at a CAGR of 0.2 % between 2020 and 2025.
What is the forecast growth of the Locksmiths industry in the United States over the next 5 years?
Over the next five years, the Locksmiths industry in the United States is expected to grow.
What does the Locksmiths industry in the United States include?
Installing and repairing nonresidential security systems and Installing and repairing residential security systems are part of the Locksmiths industry in the United States.
How competitive is the Locksmiths industry in the United States?
The level of competition is high and steady in the Locksmiths industry in the United States.
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