Industry Analysis & Industry Trends
Over the five years to 2015, improving disposable incomes, rising gun purchases and low confidence in banks has driven demand for products in the Safe and Vault Manufacturing industry. Skepticism about the soundness of the financial sector postrecession prompted several households to store a part of their cash and other valuables at home, while the recovery of the commercial banking sector has created rebounding need for industry products, both attributing to revenue growth. In the five years to 2020, industry growth is projected to slow down due to increasing import penetration, although household safety concerns, gun ownership and commercial and banking activity will continue to underpin demand.... purchase to read more
Industry Report - Industry Products Chapter
A 'safe' is a broad category that encompasses both safe storage containers and vaults. While most safes refer to a freestanding square-shaped container of various sizes, a vault typically denotes a large rectangular safe unit built into a wall. Freestanding safes are typically purchased by households and businesses while vault safes are primarily demanded by banks.
Besides differentiation between freestanding containers and in-built vaults, safes may be differentiated on the basis of size. IBISWorld analysis reveals that, while smaller safes are the most frequently sold units, midsize safes offer the largest contribution to revenue. Part of the reason for this discrepancy stems from the higher prices that midsize and large sized safes can command... purchase to read more