New York, NY, Aug 22, 2019 (WiredRelease): Market.us announces the publication of its most recently generated research report titled, “North America Retaining Rings Market by Product Type (Beryllium Copper, Stainless Steel, Carbon Steel), By Application (Commercial, Residential), and by Country – North America Forecast to 2028.”, Which offers a holistic view of North America retaining rings market through systematic segmentation that covers every aspect of the target market.
North America retaining rings market is projected to be US$ 204.6 Mn in 2018 to reach US$ 289.1 Mn by 2028 at a CAGR of 3.5%.
Retaining rings, also known as snap rings, wire rings, etc. This is automated/ mechanical fasteners used to hold/fix components at one place. Retaining rings are fasteners that hold components or assemblies onto a shaft or in a housing/bore, typically in a groove, that resists thrust loading and keeps the assembly together. There are three primary types of retaining namely tapered section retaining rings, constant section retaining rings, and spiral retaining rings. Various types of retaining rings are used for different end-use application.
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Retaining rings are used in several sectors such as automotive, aerospace, appliances, construction, computers, general industry, etc. These rings provide several advantages over traditional fasteners including a smaller finished design footprint with reduced weight. Their primary function is to replace multiple pieces of hardware in an assembly, without any need complicated shaft or housing preparation such as threading, tapping, and drilling leading to lower fabrication time and costs, thereby reducing the cost for manufacturers. Moreover, retaining rings only require a groove where traditional fasteners require threaded components, mating threaded holes, access holes, or counter-bores. These function with a minimal amount of surface preparation to either the shaft or the housing.
Typical materials used to manufacture retaining rings are carbon steel, stainless steel, and beryllium copper, as well as phosphor bronze, Inconel, Elgiloy, Hastelloy, etc. Carbon steel is primarily preferred owing to its high strength, good ductility, and an excellent surface for plating to ensure corrosion resistance. Stainless steel is used due to its high strength and corrosion-resistant properties, as well as, for non-oxidation at high temperatures and beryllium copper is used for non-magnetic, corrosion-resistance and good electrical conductor properties.
North America Retaining Rings Market Revenue (US$ Mn), 2018–2028
The steady growth of end-user industries such as aerospace, automotive, consumer appliances, general industry, computers, etc. is anticipated to drive the growth of the retaining ring’s market in North America. The functioning of retaining rings is comparatively smoother, as they require the least preparation of the surface related to shaft or housing. The retaining rings have extended benefits of positioning accuracy as compared to traditional fasteners. This factor expected to fuel the growth of North America retaining rings market in the forecast period.
In addition, the low cost associated with retaining rings provides a cost advantage to manufacturers, this is expected to increase adoption of retaining rings in various end-use industries and expected to result in the growth of the target market.
However, retaining rings are comparatively less strong and are susceptible to wear and tear, in case of improper maintenance, leads to replacement. This is major factors which are may affect the growth of North America retaining rings market adversely.
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North America Retaining Rings Market by Product Type, 2018
On the basis of product type, the market is segmented into beryllium copper, stainless steel, carbon steel. Carbon steel accounts for the majority share in North America retaining rings market, followed by stainless steel.
Based on the country, market is segmented into the USA, Canada, and Mexico. The USA accounts majority share in North America retaining rings market.
The research report on the North America retaining rings market includes profiles of some of major companies such as RotoPrecision, Inc., Barnes Group Inc., Alco Inc., Gilbert Spring Corporation, Seastrom Manufacturing Co., CAB Incorporated, Rotor Clip Company, Inc., American Ring, SAE Products LLC, Daemar Inc., Smalley Steel Ring Company, MW Industries, Inc., etc.
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Key Market Players included in the report:
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