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Lock Washer Market Expected to Reach $1,251.5 Mn by 2025 at 8.2% CAGR, Says AMR

The unprecedented surge of automotive, aerospace, and construction industries along with an increased demand for maintenance and repair activities propel the growth of the global lock washer market

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Allied Market Research

10 Apr, 2019, 10:52 GMT

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PORTLAND, Oregon, April 10, 2019 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Lock Washer Market by Product Type (Split Lock Washer, Tooth Lock Washer, and Others) and Application (Automotive, Aerospace, Machinery & Equipment, Construction, and Others): Global Opportunity Analysis and Industry Forecast, 2018 - 2025". According to the report, the global lock washer market generated $673.7 million in 2017 and is projected to reach $1,251.5 million by 2025, registering a CAGR of 8.2% during the forecast period, 2018-2025.

The growth of the global lock washer market is driven by rapid growth in the automotive, aerospace, machinery, and construction industries. Market growth is also supplemented by increased demand for maintenance and repair activities. However, the high possibility of corrosion to lock washers and surging prices of steel restrain market growth. Nonetheless, the rise in demand for ready, sustainable, and better quality washers is set to provide lucrative opportunities to emerging market players in the near future.

Flat 20% Discount on this report (valid till 20th April 2019)

Purchase Now: https://www.alliedmarketresearch.com/checkout/703593 

Split Lock Washers to remain the dominant segment through 2025

By type, the split lock washers segment is expected to continue its dominance throughout the forecast period and occupy two-fifths of the global share by 2025, owing to its sturdy design that supports more sustainability across various end-user industries. However, the others segment is poised to grow at the highest CAGR of 8.6% from 2018 to 2025, on account of growing penetration of other types such as wedge lock washers, etc. in construction and industrial applications.

Construction to grow at the fastest CAGR in the future

By industry, the construction segment is projected to register the highest CAGR of 8.6%, due to a surge in demand for lock washers in building & infrastructure activities across emerging economies around the world. Moreover, the automotive segment garnered more than a quarter of the global revenue in 2017 and would continue the trend throughout the forecast period. This is attributed to the strong demand for lock washers in the automotive sector due to high reliability and increased application.

Download Sample Report: https://www.alliedmarketresearch.com/request-sample/5226  

Asia-Pacific to generate the highest global revenue in the forecast period

Occupying almost two-fifths of the global market, Asia-Pacific is expected to garner the highest revenue throughout the forecast period, owing to high demand from the automotive, aerospace and machinery & tools sectors. However, North America is expected to grow at the highest CAGR of 8.7%, due to increasing local production capabilities and growing demand in several industries.

Key market players

The key players analyzed in the report include Nord-Lock, Shakeproof, Disc-Lock Inc., Schnorr, Titan Fasteners, Hangzhou spring washer Co., Ltd., Midwest Acorn Nut Co., HEICO-LOCK (HWICO Group), Earnest Machine, and Wrought Washer Manufacturing, Inc. They have adopted different strategies including collaborations, joint ventures, partnerships, expansions, mergers & acquisitions, and others to gain a strong position in the industry.

Access KNOWLEDGE TREE (Premium on-demand, subscription-based pricing model) at:https://www.alliedmarketresearch.com/knowledgetree

Knowledge tree is a cloud-based intelligence platform that offers more than 2,000 selective, off-the-shelf reports on niche markets to enable our clients gain deep insights on the latest trends, dynamic technologies, and emerging application areas.

Similar Reports:Turbocompressor Market Expected to Reach $18,424 Million, Globally, by 2022

Increasing global LNG trade is one of the key drivers for the global turbocompressor market. Turbocompressor play a key role in the LNG trade. These equipment are used for feed gas services to compress natural gas and transport it along the pipeline to the processing plant. Turbocompressor also help the natural gas industry to improve the efficiency and reduce their overall cost.

Portable Generators Market Size Expected to Reach $4,913 Million, Globally by 2022

The 3-10kW segment was the highest contributor in 2014, accounting for around 64.6% of global market. This segment possesses dual applicability and can be used for both small and large power requirement purposes. Moreover, portable generators functioning through natural energy sources are expected to see high demand from the market in the coming years. This will be due to changing environment norms and regulations restricting carbon levels of engines exhaust in developed regions including North America and Europe.

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:

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