Mechanical Anchors Market Size, Share & Trends Analysis Report By Material (Carbon Steel, Stainless Steel), By Application (Residential, Commercial), By Region, And Segment Forecasts, 2023 - 2030

Mechanical Anchors Market Size & Trends

The global mechanical anchors market size was estimated at USD 1,855.1 million in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 2.8% from 2023 to 2030. The mechanical anchors have high potential demand and installation across the building and construction sector including historic masonry materials. These anchors mechanically hold themselves in the base material with the help of friction and some type of movement to achieve holding values. Mechanical concrete anchors are gaining growth in the market due to their wide range and benefits in concrete applications. Various types of mechanical anchors are available in the market including wedge anchors, sleeve anchors, machine screw anchors, hammer drive anchors, single expansion anchors, and double expansion anchors. They have usage across various applications in accordance with their properties and benefits which are expected to boost their demand in the market.

The U.S. mechanical anchor industry is anticipated to witness moderate growth over the coming years owing to rising demand for machinery tools from the automotive, construction, and aerospace & defense industries. Despite the downturn in 2020 caused by the COVID-19 pandemic, rising emphasis on the production of building tools in the region, along with the continuation of construction operations, is anticipated to prove beneficial for the demand for the anchor in the upcoming years.

The major manufacturers in the mechanical anchor market include DeWalt Industrial Tool Company, Guangdong KinLong Hardware Products Co., Ltd., Hilti Corporation, Simpson Strong-Tie Company, Inc., ITW RED HEAD, and Koelner Rawlplug IP which supplies the final product to the wholesaler, distributor, or supplier for the final distribution to the retailer or the end-users across the construction or residential sector.

Mechanical anchors are also having potential users across the stone masonry. These are commonly installed in historic masonry materials. Moreover, signage installations, scaffolding lateral supports, and telecommunication launching systems. Structural engineers are improvising the designs and specifications of the mechanical anchors according to the development and advancement in the structural design market. The aforementioned factors are expected to propel product demand.

The fluctuating prices of raw materials, particularly steel, whose price is increasing in the international market is likely to limit the growth to an extent over the forecast period. The steel prices are increasing owing to the bolstering demand for steel in other end-use markets like automotive body manufacturing, which is a rapidly growing sector across the globe. As a result, the strong global demand and high international steel and iron ore prices are likely to limit the growth of mechanical anchors in the global market. 

Material Insights

Stainless steel was the largest and fastest growing market segment and accounted for 54.2% of the revenue share in 2022 as stainless steel hardly gets oxidized when compared to other materials including iron, and carbon steel. Additionally, aesthetic shining appearance, corrosion resistance, low maintenance, and strength make stainless steel a widely used material for manufacturing mechanical anchors.

Carbon steel accounted for USD 674.1 million for the year 2022 owing to its high strength. The presence of high carbon content makes them good at resisting abrasion and retaining shape under excess load in construction buildings. In addition, the material is primarily heat-treated by austenitizing, and quenching, followed by tempering to enhance its mechanical properties including yield and tensile strength.

In terms of the price standpoint, stainless steel is primarily more expensive than carbon steel. The high price of stainless steel is attributed to the wide array of other metals that are added to the stainless steel including chromium, manganese, and nickel. These additional elements increase the cost of stainless steel metal over carbon steel which is widely used in the building & construction industry.

Other materials used on a small scale to produce mechanical anchors include alloy steel which is expected to expand at a CAGR of 2.8%. These are primarily iron-based mixtures resulting in the formation of alloy steel having different element compositions including manganese, silicon, and copper. Other materials are also used in small quantities including nickel, chromium, and molybdenum in the alloy steel to achieve the required hardness, strength, and chemical resistance.

Application Insights

The mechanical anchors industry is segmented into residential and commercial based on the applications. The residential application segment holds a comparatively small share when compared to commercial applications which accounted for 74.3% of the market. In commercial sectors, mechanical anchor finds its wide application in various malls, hotels, sports complexes, and industries.

The building design of malls, hotels, and sports & recreational stadiums is becoming more complex and is fitted with a wide variety of pipes, tubes, and cables suspended from the ceiling. These are primarily held on metal trenches which are fitted with mechanical anchors to fasten them to the underside of the concrete deck for support and hold.

Residential applications accounted for a revenue share of over USD 476.0 million in 2022. The use of mechanical anchors in residential applications includes fixing wooden or plastic frames to the concrete or masonry units, railing and fences, and cable trenches. Metals such as aluminum and steel are widely used in the manufacturing of windows and doors in buildings owing to the lightweight and highly durable properties exhibited by the metals.

Furthermore, critical design and construction considerations for the adequate connection of the wooden frames and structural systems to concrete or stone base are the major key areas where mechanical fasteners are used in residential applications. In addition, increasing security concerns among the residential areas are amplifying the need for railing and fencing that uses mechanical anchors which get fixed to the railing bars with the boundary wall of the house. The above-mentioned factors are expected to boost the market demand during the forecast period.

Regional Insights

Asia Pacific accounted for the largest and fastest market with a 36.7% market share in 2022 owing to the increasing expansion of petrochemical plants along with the growing construction sector in the region. In addition, the growing demand for fuels and consumer goods is increasing the expansion of crude oil capacity coupled with rising investment for new infrastructural projects in the countries such as India, Australia, Hong Kong, Japan, Thailand, and Vietnam is propelling the market for mechanical anchors in these countries.

North America is one of the prominent regional markets for mechanical anchors owing to higher market penetration in the developed economies of the region such as the U.S. and Canada. Growing construction activities in developing economies such as Mexico is the key factor propelling the usage of the mechanical anchor. Rising investment toward the renovation of existing residential buildings and increasing disposable incomes are the major factors contributing to the growth of the market in the region.

In Europe, the European Organization for Technical Assessment (EOTA) is a non-profit organization offering the regulations for the European Technical Assessment (ETA) of construction products to ensure consistent product performance information. It has given regulations and guidelines to which the companies have to adhere by and take approval for every product launched. Any product with a label of ETA ensures safety application in order to prevent any failure and collapse of the structure installed.

The Middle East & Africa accounted for 4.8% of the market share in 2022 as it is the world leader in crude oil production. Many major countries in the region including Kuwait, Oman, Bahrain, Libya, Iraq, Iran, and Saudi Arabia are economically dependent on oil businesses. Mechanical tools are used in the assembly of rotary drilling equipment, and drilling rigs in setting up offshore drilling machinery.

Key Companies & Market Share Insights

The global market is highly competitive with large players catering to the international demand and local players to the regional demand. Also, the availability of a large number of product suppliers across the regions is likely to restrain the entry of new players in the industry.

The value chain of the mechanical anchor market comprises raw material suppliers, manufacturers, suppliers/distributors/exporters, and end-users. The raw materials include carbon steel and stainless steel. These raw materials are used in the manufacturing of anchors and are procured directly by steel manufacturers or their distributors or suppliers, while these anchor manufacturers sign agreements with the steel manufacturers for the smooth supply of raw materials. Some of the prominent players in the global mechanical anchors market include:

• Stanley Black & Decker, Inc.

• Guangdong Kin Long Hardware Products Co., Ltd

• Hilti Group

• Simpson Strong-Tie Company, Inc.

• Illinois Tool Works Inc.

• Koelner Rawlplug IP

• Mungo Befestigungstechnik AG

• Prosoco, Inc.

• MITEK IN

• Mudge Fasteners, Inc.

• MKT Fastening, LLC

• Mechanical Plastic Corporation

• UCAN FASTENING PRODUCTS

• fisher Group of Companies

• NINGBO LONDEX INDUSTRIALS CO., L.T.D.

• Cobra Anchors

Mechanical Anchors Market Report Scope

Global Mechanical Anchors Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global mechanical anchors market report based on the material, application, and region:

• Material Outlook (Revenue, USD Million, 2018 - 2030)

  • Carbon Steel

  • Stainless Steel

  • Others

• Application Outlook (Revenue, USD Million, 2018 - 2030)

  • Residential

  • Commercial

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • UK

    • Germany

    • France

    • Italy

  • Asia Pacific

    • China

    • Japan

    • India

    • Australia

    • New Zealand

  • Central & South America

    • Brazil

    • Argentina

  • Middle East & Africa