There are currently an estimated 28,700 locksmiths in the United States. The locksmith job market is expected to shrink by -3.1% between 2016 and 2026.
In the USA you can find a really amazing large range of locksmith companies. Locksmiths need to understand the factors affecting their industry. These insights can help with planning and career training.
Discover the importance of locksmith services in Flowood MS. From picking smart locks to securing your home and car, professional locksmiths are here to help.
In this article, we’ll look at everything you need to know about locksmiths – from their training and experience to their services. We’ll also cover the legalities of locksmithing to ensure you’re getting the best service possible.
Industry Statistics
- How big is the locksmith industry?
- How much is the locksmith industry worth?
- How much does an average locksmith cost?
The locksmith job market is expected to shrink by -3.1% between 2016 and 2026. The market size, measured by revenue, of the Locksmiths industry is $2.8bn in 2021. Locksmiths cost $157 on average, with a typical range between $97 and $216.
How employable are locksmiths? CareerExplorer rates locksmiths with a F employability rating, meaning this career should provide poor employment opportunities for the foreseeable future. Over the next 10 years, it is expected the US will need 3,300 locksmiths.
The demand for locksmiths and their services is tied to a multitude of industries, but most prominently is determined by the construction and housing markets due to the nature of homes and their needs for locks, keys, security systems, etc. The annual growth of the locksmith industry is about 1.9% as the demand for new homes, and the production of cars, increases.
It’s a $3 billion industry and still growing, as the US housing market is experiencing a boom. This presents growth opportunities for locksmiths because new homeowners require new locks and security systems. Demand from commercial establishments for the installation, repair, or rebuilding of security systems is also on the rise.
The locksmithing industry in the United States is dominated by small businesses. The largest companies in the industry, such as USA Total Security, AAA, Mr. Rekey Locksmith, and Allstate, only employ a few thousand locksmiths each. The majority of locksmiths in the United States work for small, local companies.