Press release
Lock Washer Market Growing at a CAGR of 8.2% to Reach $1,251.5 Million by 2025
Lock Washer Market
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Asia-Pacific secured the highest market share in 2017, owing to industrialization and urbanization particularly in the developing nations. In addition, increase in demand for lock washers from various manufacturing industries such as automobile, machinery, and construction is expected to boost the Asia-Pacific market growth. North America and Europe are also expected to register a high growth during the forecasted period.
The lock washer market size is not high in U.S. and Western Europe. China is to expand its lock washer market share in forecasting period, owing to the expansion in automobile sector. Asia-Pacific has many lock washer manufacturer and producers, it produces the products for industrial sectors. Companies in developing countries, in contrast, put more effort on direct selling business. The competitor companies are more likely to develop their dealer network for the business expansion.
Key Players
The major players operating in the lock washer market 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.
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Key Lock Washer Market Segments:
By Product Type
Split
Tooth
Others
BY Application
Automotive
Aerospace
Machinery & Equipment
Construction
Others
By Region
North America
Europe
Asia-Pacific
LAMEA
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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 domains.
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