Growth in the automotive, aerospace, machinery, and construction industries is expected to drive the lock washer market during the forecast year.
PORTLAND, OR, UNITED STATES, August 29, 2021 /EINPresswire.com/ — A lock washer is a disk-shaped thin plate, typically with a hole in the middle, which is normally used to distribute the load of a threaded fastener. It often has an outer diameter about twice as compare to its inner diameter, which can vary according to its design. The most commonly used metal in the production of washers is steel.
The lock washer market size accounted for $673.7 million in 2017 and is expected to reach $1,251.5 million by 2025, growing at a CAGR of 8.2% from 2018 to 2025.
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The global lock washer market has witnessed a substantial growth over the past few years and expected to record similar growth during the coming years. Increase in demand for lock washers in the automotive, aerospace, machinery, and construction industries is expected to drive the market growth during the forecast year. In addition, increase in industrialization and urbanization, particularly in the emerging markets, further fuels the market growth.
Top 10 Leading Players
Hangzhou spring washer co., ltd
Midwest Acorn Nut Co.
HEICO-LOCK (HWICO Group)
Wrought Washer Manufacturing, Inc.
Key Benefits for Lock Washer Market:
The report provides an extensive analysis of the current and emerging global lock washer market trends and dynamics in the global lock washer market.
An in-depth analysis is conducted by constructing market estimations for the key market segments between 2017 and 2025.
Extensive analysis of the global lock washer market is conducted by following key product positioning and monitoring of the top competitors within the market framework.
A comprehensive analysis of all regions is provided to determine the prevailing opportunities in these geographies.
Key market players within the lock washer market are profiled in this report and their strategies are analyzed thoroughly, which helps understand the competitive outlook of the global lock washer market.
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Key Market Segments
By Product Type
Machinery & Equipment
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