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Lock Washer Market Report by Product (Split Lock Washer, Tooth Lock Washer, and Others), Material (Brass, Bronze, Zinc, Aluminum, Copper, Stainless Steel, and Others), Application (Automotive, Aerospace, Machinery and Equipment, Construction, and Others), and Region 2024-2032
Report Format: PDF+Excel | Report ID: SR112024A6422
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Market Overview:
The global lock washer market size reached US$ 810.7 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 1,294.5 Million by 2032, exhibiting a growth rate (CAGR) of 5.18% during 2024-2032.
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Report Attribute
|
Key Statistics
|
|---|---|
|
Base Year
|
2023
|
|
Forecast Years
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2024-2032
|
|
Historical Years
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2018-2023
|
|
Market Size in 2023
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US$ 810.7 Million |
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Market Forecast in 2032
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US$ 1,294.5 Million |
| Market Growth Rate 2024-2032 | 5.18% |
Lock washers are thin disk-shaped plates with a hole in the middle that distribute the load on fasteners and hold nuts in place. Most lock washers have an outer diameter twice as large as their inner diameter, which varies depending on their design. The shape of a lock washer is beneficial when they are compressed to the load near the bolt's proof strength, thus helping them flatten and twist. The bolted joint's spring rate is reduced by this process, which maintains a greater force under the same vibration levels, further preventing loosening. Most lock washers are split or toothed and made up of steel. Carbon steel, spring steel, and stainless steel are the different types of materials that are used in the production of washers. Some of the other materials that can be used to make these washers include copper, brass, bronze, zinc, aluminum, titanium, and iron.
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Lock Washer Market Trends:
The market is majorly driven by the escalating product demand across numerous end-use industries, such as automotive, heavy machinery, and aerospace. In addition to this, the rapid product utilization in construction, maintenance and repair activities is also providing an impetus to the market. Moreover, the increasing sales of automobiles, along with considerable growth in the transportation sector, is also creating lucrative growth opportunities in the market. Continual product developments, such as the introduction of sustainable, highly efficient and cost-effective lock washer variants to cater to new markets and consumers, are propelling the market. Some of the other factors contributing to the market growth include rapid urbanization and industrialization, the flourishing manufacturing industry, the increasing number of construction projects, inflating disposable income levels and extensive research and development (R&D) activities.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global lock washer market report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on product, material and application.
Breakup by Product:
- Split Lock Washer
- Tooth Lock Washer
- Others
Breakup by Material:
- Brass
- Bronze
- Zinc
- Aluminum
- Copper
- Stainless Steel
- Others
Breakup by Application:
- Automotive
- Aerospace
- Machinery and Equipment
- Construction
- Others
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Disc-Lock Europe Limited (Tension Control Bolts Limited), F.W. Webb Company, Hangzhou Spring Washer Co. Ltd., HEICO Befestigungstechnik GmbH, Illinois Tool Works Inc., International Industrial Springs, KD Fasteners, NORD-LOCK Inc. (Nord-Lock International AB), Phoenix Specialty, Schnorr GmbH and Wrought Washer Manufacturing Inc.
Report Coverage:
| Report Features | Details |
|---|---|
| Base Year of the Analysis | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Units | US$ Million |
| Segment Coverage | Product, Material, Application, Region |
| Region Covered | Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
| Countries Covered | United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico |
| Companies Covered | Disc-Lock Europe Limited (Tension Control Bolts Limited), F.W. Webb Company, Hangzhou Spring Washer Co. Ltd., HEICO Befestigungstechnik GmbH, Illinois Tool Works Inc., International Industrial Springs, KD Fasteners, NORD-LOCK Inc. (Nord-Lock International AB), Phoenix Specialty, Schnorr GmbH and Wrought Washer Manufacturing Inc. |
| Customization Scope | 10% Free Customization |
| Report Price and Purchase Option | Single User License: US$ 3899 Five User License: US$ 4899 Corporate License: US$ 5899 |
| Post-Sale Analyst Support | 10-12 Weeks |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
The global lock washer market was valued at US$ 810.7 Million in 2023.
We expect the global lock washer market to exhibit a CAGR of 5.18% during 2024-2032.
The rising demand for lock washers across various construction, maintenance, and repair activities, along with the introduction of sustainable, highly efficient, and cost-effective lock washer variants, is primarily driving the global lock washer market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations, resulting in the temporary closure of numerous end-use industries for lock washers.
Based on the product, the global lock washer market has been segregated into split lock washer, tooth lock washer, and others. Currently, split lock washer holds the largest market share.
Based on the application, the global lock washer market can be bifurcated into automotive, aerospace, machinery and equipment, construction, and others. Among these, automotive exhibits a clear dominance in the market.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where Asia-Pacific currently dominates the global market.
Some of the major players in the global lock washer market include Disc-Lock Europe Limited (Tension Control Bolts Limited), F.W. Webb Company, Hangzhou Spring Washer Co. Ltd., HEICO Befestigungstechnik GmbH, Illinois Tool Works Inc., International Industrial Springs, KD Fasteners, NORD-LOCK Inc. (Nord-Lock International AB), Phoenix Specialty, Schnorr GmbH, and Wrought Washer Manufacturing Inc.
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