Frequently Asked Questions
The global hexagon nuts market was valued at USD 1.1 Billion in 2022.
The hexagon nuts market is expected to grow at a CAGR of 4.30% between 2023 and 2030, reaching USD 1.47 Billion in 2030.
Stainless steel is the leading segment by type, holding over 43% share in terms of value in 2022.
The automotive segment governs the demand for hexagon nuts in the World, holding a massive share of over 80% in 2022.
The machinery segment is expected to post the highest CAGR during the forecast period.
Asia Pacific is fueling the growth of the hexagon nuts industry, with over one-third share in 2022.
The top players include Nobel Precision Metal, Kiran Industries, Haydon Bolts, U- Bolt, Roton Products, S Kumar, Aztech, Taizhou Changlong Fasteners, Dong Tzer Hardware, and BUMAX
The growing population and the benefits of hexagon nuts are the major market drivers.
The availability of substitutes is the major market restraint.
Rapid industrialization and infrastructure growth are the major opportunities in the hexagon nuts industry.