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2025 U.S. Industry Statistics & Market Forecast - Locksmiths
Market Size & Industry Statistics
The total U.S. industry market size for Locksmiths:
Industry statistics cover all companies in the United States, both public and private, ranging in size from small businesses to market leaders.
In addition to revenue, the industry market analysis shows information on employees, companies, and average firm size.
Investors, banks, and business executives use growth rates and industry trends to understand the market outlook and opportunity.
| Statistics | 2020 2021 2022 2023 2024 | |
|---|---|---|
| Market Size (Total Sales/Revenue) |
Order at top of page | |
| Total Firms | ||
| Total Employees | ||
| Average Revenue Per Firm | ||
| Average Employees Per Firm | ||
| Average Revenue Per Employee | ||
Market Forecast
Market forecasts show the long term industry outlook and future growth trends. The following extended five-year forecast projects both short-term and long-term trends.
| Forecast / Industry Outlook | 2025 | 2026 | 2027 | 2028 | 2029 |
|---|---|---|---|---|---|
| Market Forecast ($ millions) | |||||
| Projected Industry Growth Rate (%) | |||||
Industry Insights
Major trends affect the Locksmiths industry include:- Increasing integration of smart home technology
- Rise in security concerns driving demand for advanced lock systems
- Growth in automotive locksmith services
- Impact of DIY security products on traditional services
- Greater emphasis on digital and mobile solutions, including keyless entry
- Heightened regulatory standards for locksmith certification
- Expansion in emergency locksmith services
- Adoption of eco-friendly and sustainable practices
- Increased competition from online service platforms
- Cybersecurity concerns related to smart locks and IoT devices
Product & Services Breakdown
Research products and services in the Locksmiths industry generating sales. Note that products are broken into categories with different levels of classification.| Product Description | Number of Companies | Sales ($ millions) | Percent of Total Sales |
|---|---|---|---|
Industry Total |
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Building Security System And Lock Installation, Including Repair Services (Without Monitoring) |
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Building Security System And Lock Installation, Including Repair Services (Without Monitoring) - Residential |
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Building Security System And Lock Installation, Including Repair Services (Without Monitoring) - Non-Residential |
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Key Duplication Services |
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Resale Of Merchandise |
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Resale Of Merchandise, Over-The-Counter Or Separate From Services Provided |
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All Other Receipts |
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All Other Operating Receipts |
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U.S. Geographic Distribution: Revenue Statistics by State
Market Size by State ($ millions) indicates how the industry's competition is distributed throughout the country. State-level information can identify areas with higher and lower industry market share than average.
Income Statement (Average Financial Metrics)
Financial metrics provide a snapshot view of a benchmark "average" company. Key business metrics show revenue and operating costs. The data collected covers both public and private companies.| Industry Average | Percent of Sales (Industry Benchmark) |
|
|---|---|---|
| Total Revenue | Order at top of page |
|
| Operating Revenue | ||
| Cost of Goods Sold | ||
| Gross Profit | ||
Operating Expenses | ||
| Pension, profit sharing plans, stock, annuity | ||
| Repairs | ||
| Rent paid on business property | ||
| Charitable Contributions | ||
| Depletion | ||
| Domestic production activities deduction | ||
| Advertising | ||
| Compensation of officers | ||
| Salaries and wages | ||
| Employee benefit programs | ||
| Taxes and Licenses | ||
| Bad Debts | ||
| Depreciation | ||
| Amortization | ||
| Other Operating Expenses | ||
| Total Operating Expenses | ||
| Operating Income | ||
| Non-Operating Income | ||
| EBIT (Earnings Before Interest and Taxes) | ||
| Interest Expense | ||
| Earnings Before Taxes | ||
| Income Tax | ||
| Net Profit Net Income | ||
Financial Ratio Analysis
Financial ratio information can be used to benchmark how a Locksmiths company compares to its peers. Accounting statistics are calculated from the industry-average for income statements and balance sheets.| Profitability & Valuation Ratios | Industry Average |
|---|---|
| Company valuation can be measured based on the firm's own performance, as well as in comparison against its industry competitors. These metrics show how the average company in the Locksmiths industry is performing. | |
| Profit Margin Gross Profit Margin, Operating Profit Margin, and Net Profit Margin. Show company earnings relative to revenues. |
|
| Return on Equity (ROE) Return on Equity (ROE) is net income as a percentage of shareholders' equity. Shareholders' Equity is defined as the company's total assets minus total liabilities. ROE shows how much profits a company generates with the money shareholders invested (or with retained earnings). |
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| Return on Assets (ROA) Return on Assets (ROA) is net income relative to total assets. The market research on Locksmiths measures how efficiently the company leverages its assets to generate profit. ROA is calculated as Net Income divided by Total Assets. |
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| Liquidity Ratios | Industry Average |
|---|---|
| Bankers and suppliers use liquidity to determine creditworthiness and identify potential threats to a company's financial viability. | |
| Current Ratio Measures a firm's ability to pay its debts over the next 12 months. |
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| Quick Ratio (Acid Test) Calculates liquid assets relative to liabilities, excluding inventories. |
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| Efficiency Ratios - Key Performance Indicators | Industry Average |
|---|---|
| Measure how quickly products and services sell, and effectively collections policies are implemented. | |
| Receivables Turnover Ratio If this number is low in your business when compared to the industry average in the research report, it may mean your payment terms are too lenient or that you are not doing a good enough job on collections. |
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| Average Collection Period Based on the Receivables Turnover, this estimates the collection period in days. Calculated as 365 divided by the Receivables Turnover |
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| Inventory Turnover A low turnover rate may point to overstocking, obsolescence, or deficiencies in the product line or marketing effort. |
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| Fixed-Asset Turnover Generally, higher is better, since it indicates the business has less money tied up in fixed assets for each dollar of sales revenue. |
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Compensation & Salary Surveys for Employees
Compensation statistics provides an accurate assessment of industry-specific jobs and national salary averages. This information can be used to identify which positions are most common, and high, low, and average annual wages.| Title | Percent of Workforce | Bottom Quartile | Average (Median) Salary | Upper Quartile |
|---|---|---|---|---|
| Management Occupations | 7% | Order at top of page |
||
| Chief Executives | 0% | |||
| General and Operations Managers | 5% | |||
| Sales and Related Occupations | 11% | |||
| Sales Representatives, Services | 8% | |||
| Miscellaneous Sales Representatives, Services | 8% | |||
| Sales Representatives of Services, Except Advertising, Insurance, Financial Services, and Travel | 8% | |||
| Office and Administrative Support Occupations | 22% | |||
| Installation, Maintenance, and Repair Occupations | 45% | |||
| Electrical and Electronic Equipment Mechanics, Installers, and Repairers | 33% | |||
| Miscellaneous Electrical and Electronic Equipment Mechanics, Installers, and Repairers | 33% | |||
| Security and Fire Alarm Systems Installers | 32% | |||
| Other Installation, Maintenance, and Repair Occupations | 9% | |||
| Miscellaneous Installation, Maintenance, and Repair Workers | 8% | |||
| Locksmiths and Safe Repairers | 7% | |||
Locksmiths Competitor Landscape & Key Companies [PREMIUM]
The most influential companies in the Locksmiths industry and adjacent industries either have large market share or are developing new business models and methods that could disrupt the status quo. We look at leading and emerging companies in the Locksmiths industry and adjacent sectors:| Market Leaders: Direct Competitors Companies with the largest market share, focused in this industry |
Market leaders: Diversified Competitors Largest companies that have diversified operations in this and other industries |
| Innovators: Direct Competitors Innovative, Emerging, and Disruptive Companies that may influence the future direction of the industry. |
Innovators: Diversified Competitors Innovators and Disruptors in adjacent industries that may also affect the Locksmiths industry. |
Source:
Latest Industry News
- Google Business Profiles Reverification After Suspensions Increasing? - A number of local SEOs are stating that Google is now requiring businesses that had their Google Business Profiles suspended to reverify at a higher rate than normal. Meaning, the business needs to go through the verification process again to be activated within Google Business Profiles. (07/07/2025)
- My Easy Guide on How Much Smart Lock Installations Cost, Based on My Many Reviews - Can you DIY a smart lock or do you need to hire a locksmith? I'm breaking down all the costs you should know about. (07/07/2025)
- Keys Inc. Proposes National Locksmith Licensing Reform Through the "LINC Act" - Keys®, the leading software platform built for locksmiths, is taking a proactive step toward national safety and industry modernization with the introduction of the Locksmith Integrity & National Certification Act (LINC Act). (07/07/2025)
- Keys Inc. Marks a Strong First Half of 2025 with New Features and Industry Growth - Keys Inc., the leading all-in-one software platform built specifically for locksmiths, is proud to announce a successful first half of 2025 highlighted by enhanced product offerings, strong industry engagement, (07/06/2025)
- The downfall of Brescia & potential rebirth in Serie C - Once the home of Roberto Baggio and Pep Guardiola, Brescia have had their professional licence revoked - but will the club be reborn? (07/06/2025)
- Alligator Alcatraz receives first immigrant detainees Wednesday night - The first detainees arrived at Alligator Alcatraz late Wednesday night, even as the immigration detention facility in the Florida Everglades has already faced some operational issues with security and water intrusion. (07/03/2025)
- Alligator Alcatraz gets its first detainees Wednesday night - The first detainees arrived at Alligator Alcatraz late Wednesday night, even as the immigration detention facility in the Florida Everglades has already faced some operational issues with security and water intrusion. (07/03/2025)
- Down to Business: Naperville biz owner says he followed God’s advice and became a locksmith - Steve Metsch is a freelance reporter for the Naperville Sun. If you know of a business you’d like to see profiled in Down to Business, contact him at metschmsfl@yahoo.com. (06/26/2025)
- 3 locksmiths from Madhya Pradesh arrested for robbing houses in Delhi - Delhi Police busted an inter-state robbery gang from Madhya Pradesh. The gang targeted locked houses in Delhi. Three members, Surjeet Singh, Anil Sing (05/26/2025)
- More than 250 homes targeted with blow torch break-in method across Bradford district - MORE than 250 homes in the Bradford district have been targeted by burglars attempting to gain entry with blow torches, it can be revealed. (05/26/2025)
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