About Locking Washers
Development in the automotive, aerospace, machinery, and construction industries is projected to drive the locking washers market during the forecast year. A lock washer is a disk-shaped thin plate, usually with a hole in the middle. The locking washers is used to distribute the load of a threaded fastener. The most usually used metal in the production of washers is steel. There are different steel types used in the production of washers such as spring steel, carbon steel, and stainless steel. Locking washers are also available in different types of metal includes copper, brass, aluminum, titanium, bronze, zinc, and iron.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
High Growth Market | Asia- Pacific |
Unit | Value (USD Million) |
CAGR | 8.2% |
Key vendors are adopting numerous strategy to gain market share and to increase their market attention, this strategy can be listed as growing product portfolio, making a partnership to implement certain technologies and acquiring small vendors to finish the competition in the future. To gain the market share key players need to develop on high quality lock washers for a multitude of fastening applications, in order to complete the fastening necessities of a multitude of industries with flexibility, innovation and quality. Analyst at AMA Research estimates that United States Manufacturers will contribute the maximum growth to Global Locking Washers market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Nord-Lock (Sweden), Shakeproof (United States), Disc-Lock Inc. (United States), Schnorr (Germany), Titan Fasteners (United States), Hangzhou spring washer co., ltd (China), Midwest Acorn Nut Co. (United States), HEICO-LOCK (HWICO Group), Earnest Machine (United States) and Wrought Washer Manufacturing, Inc. (United States) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are Skiffy (Netherlands), Boneham & Turner (United Kingdom), Temas Engineering (Italy) and Others.
Segmentation Overview
AMA Research has segmented the market of Global Locking Washers market by , Application (Automotive, Machinery & Equipment, Airplane, Structural Applications and Others) and Region.
On the basis of geography, the market of Locking Washers has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023. Europe, on the other hand, stood as the second largest market due to the presence of key companies in the region and high technological advancement. If we see Market by Materials , the sub-segment i.e. Brass will boost the Locking Washers market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Shapes , the sub-segment i.e. Curved Disc Washer will boost the Locking Washers market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Rise in Industrialization and Urbanization, Mainly In the Emerging Countries and Growth in Demands for Machineries
Market Growth Drivers:
Upsurge in Demand for In the Construction Industry and High Adoption Due To Use in Maintenance and Repair Activities
Challenges:
Fluctuating Foreign Exchange
Restraints:
Rising Concern about Corrosion to Locking Washers and High Cost of Steel
Opportunities:
Huge In Demand for Automotive In Developing Countries
Market Leaders and their expansionary development strategies
In July 2018, Nord-Lock has acquired IDQ Investigación Diseno y Calidad, S.A.U. this acquisition will help Nord-Lock Group to strengthen its local presence in Spain and ensure levels of service and support that customers expect.
In April 2024, Samsung announced the launch of a range of AI-powered home appliances and said it aims to exceed customers' expectations in the fast-growing premium appliances market. The new range of appliances with bespoke AI (artificial intelligence) will ensure smarter living for Indian homes and reduce energy consumption
Key Target Audience
Manufactures of Locking Washers, Suppliers and Distributors, Government Regulatory Bodies, Private and Government Research Organizations and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.