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Mechanical Anchor Market Report
Mechanical Anchor Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2023-2028
The mechanical anchor market is estimated to grow at a healthy CAGR of 4.9% during the forecast period to reach a value of US$ 2.8 billion in 2028.
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Anchors are used to connect structural elements of base material to masonry and concrete in buildings and structures. The basic purpose of an anchor is to provide a means of attachment between two or more separate elements. Mechanical anchors use friction to anchor themselves in place. They are used to expand in diameter when they are pushed into the hole. This expansion grips the base material tightly and causes the anchor to be firmly wedged in place.
Major factors such as, expanding worldwide construction industry, rise in capital expenditure on infrastructure development and increasing demand for commercial and residential construction due to rapid urbanization, industrialization, and increasing disposable income are likely to be the major demand generators for mechanical anchors during the forecast period.
COVID-19 Impact
In the year 2020, the outbreak of the COVID-19 pandemic hit hard the construction industry. Supply chain disruptions, project delays, limited demand for new buildings, labor and raw material shortages, and lockdowns across the world were some of the major consequences of the COVID-19 pandemic. The mechanical anchor market was no exception to it and recorded a decline of -9.9% in 2020. However, the market got recovered from the disruption brought by the pandemic in the year 2021, and regained its pre-pandemic level in 2021 only.
The market is highly populated with the presence of several local, regional, and global players. Most of the major players compete in some of the governing factors including price, product offerings, regional presence, etc. The following are the key players in the mechanical anchors market.
Recent Market JVs and Acquisitions:
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Segmentations |
List of Sub-Segments |
Dominant and Fastest-Growing Segments |
|
Product-Type Analysis |
Expansion Anchor, Screw Anchor, Undercut Anchor, and Others |
Expansion anchor is estimated to maintain its lead in the market in the years to come. |
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Substrate-Type Analysis |
Concrete, Masonry, Natural Stone, and Others |
Concrete is expected to remain the dominant substrate type during the forecast period. |
|
End-User-Type Analysis |
Infrastructure, Commercial, Residential, and Industrial |
Infrastructure is expected to be the biggest growth engine for mechanical anchors during the forecast period. |
|
Regional Analysis |
North America, Europe, Asia-Pacific, and the Rest of the World |
Europe is expected to remain the largest market over the next five years, whereas Asia-Pacific is likely to grow at the fastest rate. |
Based on the product type, the market is segmented as expansion anchor, screw anchor, undercut anchor, and others. Expansion anchor is expected to remain the largest as well as the fastest growing segment of the market during the forecast period, owing to extensive usage in concrete and masonry substrates. In addition to that, increasing demand from various end-users due to reliability and wide applicability is further expected to propel the demand for expansion anchors during the forecast period.
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Based on the substrate type, the market is segmented as concrete, masonry, natural stone, and others. Concrete is expected to remain the largest segment of the market during the forecast period. Concrete is a popular choice for construction due to its high compressive strength, durability, versatility, and fire and water resistance.
Based on the end-user type, the market is segmented as infrastructure, commercial, residential, and industrial. Infrastructure held the largest share of the market, due to increased spending on infrastructure projects, a boost in infrastructure development, especially in emerging economies, coupled with urbanization, and economic expansion.
In terms of regions, Europe is expected to remain the largest market for mechanical anchors over the forecast period driven by major factors such as increasing construction activities, growing disposable income, and rapid urbanization and industrialization. In addition to that, Europe is home of leading players such as Hilti Group, Wurth Group, and Fischer Group. Asia-Pacific is expected to witness the highest growth rate during the same period due to major factors such as growing construction projects in the developing economies, rapid economic growth, and increasing population.
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The mechanical anchors market is segmented into the following categories:
This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s mechanical anchors market realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market.
The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 12 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.
The following are the key features of the report:
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The market is estimated to grow at a CAGR of 4.9% by 2028. The growing construction industry and increasing spending in infrastructure development are likely to be the major demand generators for mechanical anchors during the forecast period. In addition to that, cost-effectiveness, high load capacity, and easy installation of mechanical anchors are the several reasons for increase in demand during the forecast period.
Hilti Corporation, Würth Group, Fischer Group, Illinois Tool Works Inc. and Simpson Strong Tie Co. Inc. are the leading players in the market.
Europe is estimated to remain dominant in the market in the foreseeable future. The presence of major players in the region coupled with several factors such as population growth, urbanization, and an increase in demand for residential, commercial, and industrial spaces is likely to remain the growth engine of the region’s market.
Asia-Pacific is estimated to remain the fastest-growing market for mechanical anchors in the foreseeable future. Increasing construction activities especially in developing economies, investment in infrastructure projects, and growth of manufacturing and logistics industries are expected to drive the regional market for mechanical anchors. In addition to that, the demand for residential and commercial properties has been increasing in many Asian countries, driven by population growth, urbanization, and rising incomes is further expected to fuel the region’s market growth.
Infrastructure is likely to maintain its dominance in the market in the next five years. Rapid economic growth coupled with rising infrastructure development, especially in the emerging economies, such as China and India, are fuelling the demands for construction materials including fasteners as well as mechanical anchors.
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