Self Locking Nuts Market Size, Share, and Industry Analysis, By Material Type (Steel, Aluminum, Brass, Alloy Material, and Others (Polymer)), By Industry (Steel & Power, Manufacturing, Automotive, Oil & Gas, and Others (Food & Packaging)), and Regional Forecast, 2024-2032

Self locking nuts or prevailing torque nuts are indispensable components in various industries worldwide. These specialized nuts play a crucial role in maintaining the integrity of the fastened connections. It helps prevent vibration-induced loosening and ensures the safety of critical equipment.

The nuts are designed and manufactured to provide additional strength to the fastened objects. It helps minimize loosening by the thread distortion and internal springs. It is preferred over the traditional fasteners made through materials such as steel, brass, aluminum, and others due to features such as rust-proof, corrosion-free, and strength properties.

The global self locking nuts market is estimated to grow steadily with expanding industrialization and production facilities through rising investment in the manufacturing sector. The globally expanding  automotive and aerospace industries are set to raise the demand for fasteners and locking nuts over the forthcoming years.

The demand for self locking nuts experienced tough challenges in the component market during the COVID-19 pandemic. The disruption in the global supply chain and reduced capital expenditure across industries, particularly in production, significantly decreased the demand for new equipment. Further, reduced infrastructure construction activities, which are major end-users of steel and related products, also experienced delays and cancellations during the pandemic, significantly reducing the demand for self locking nuts.

However, the revival in steel manufacturing and construction activities recommenced the demand for self locking nuts for the metal and fabrication work. The emphasis on automation, efficiency, and steel component manufacturing helped drive the market.

Key Insights:

The report covers the following key insights:

• Recent Industry Trends and Developments


• Competitive Landscape & Strategic Key Players


• Complete Background Analysis, Including Assessment of the Global Self Locking Nuts Market


• Complete Analysis of Segments


• Impact of COVID-19 on the Global Self Locking Nuts Market

Segmentation:

By Application Analysis:

Market developments are driven by the expansion of aviation and automotive sectors. It is also expected that the growing use of self locking nuts in industrial equipment will lead to increased revenue generation opportunities for the industry. To take advantage of value grab opportunities, market players are developing new products. Aircraft nuts with integrated self locking mechanisms, which can also be reused, are the focus of companies. To expand their global presence, market players are investing in research and development. Nylon insert lock nuts are becoming increasingly common due to accessibility and adaptability in different settings. In both residential and automotive maintenance, they are often used.

Regional Analysis:

• The North American region is estimated to grow potentially with rising investments across infrastructure and construction activities. The significant demand for steel and fabrication in the U.S. and Canada are the key contributors to the market.


• Europe also has matured steel sector and stringent quality control standards for the sheet metal industry. The region records a robust demand for electric vehicles from countries such as the U.K. and Germany. Furthermore, supported demand for manufacturing of fabricated goods from France and Italy are prominent contributors to the region.


• Asia Pacific is one of the fastest-growing markets for components such as self locking nuts. The region is the epicenter of many steel-producing countries such as China, Japan, and India. The rapid urbanization and infrastructure development in these countries. Furthermore, manufacturing and metal fabrication projects are the drivers raising the product demand across the industry.


• Latin America has a significant presence in the mining industry. Countries such as Brazil and Mexico have robust manufacturing sectors that are pushing the capabilities of these countries and driving the demand for locking nuts.


• The Middle East & Africa region is growing stable with potential investments in infrastructure development and construction activities across countries such as Turkey, Israel, and the GCC.

Distribution of the Self Locking Nuts Market, By Region:

• North America – 31%


• Europe – 21%


• Asia Pacific – 26%


• Middle East and Africa – 14%


• South America – 8%

Key Players Covered:

The report includes the profiles of key players such as NBK America LLC, Böllhoff, Howmet Fastening Systems, Monroe JHP Fasteners, Inc., Captive Fastener Corporation, Caliber Enterprises, Suraj Metal Corporation, J.LANFRANCO, J C Gupta & Sons., Würth Industrie Service GmbH & Co. KG, Fastenright Limited, Jiaxing Upright Export & Import Limited Company, Mendizabal, COLOC, Chin Hsing Precision Industry Co., Ltd, and Simmonds Marshall.

Key Industry Developments:

In November 2022 – Trifast PLC Group expanded its Europe presence with a new manufacturing facility located in Budapest named TR Fastenings Hungary to meet the rising demand from this region.  

In November 2022 – Bossard Group, a leading fastening and assembly solution, acquired the PENN Engineered Fasteners Corporation (PEF), a Canada-based innovative fastening solution provider that generates the annual sales of USD 25 million.

In August 2022 – Penn Engineering introduced a new self-clinching free-running locknut that offers resistance to vibrational loosening and can be used with aluminum and steel sheets of grade less than HRB 80/ HB 150.