Market Overview:
The global acorn lug nut market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in the market can be attributed to the increasing demand for automobiles and trucks, and rising popularity of racing events. Additionally, the growing demand for lightweight components in vehicles is also contributing to the growth of this market. The global acorn lug nut market can be segmented on the basis of type into open type and closed type. Closed type lug nuts are more popular than open type ones as they are less likely to loosen or fall off due to vibrations while driving. On the basis of application, this market can be segmented into automobile, truck, racing, and others (marine applications, agricultural equipment etc.). Automobiles account for a major share of this market owing to their high demand across different regions worldwide. Trucking is another key application area for acorn lug nuts as these components play an important role in ensuring safety while transporting goods over long distances.
Product Definition:
A lug nut is a type of nut that is used to secure a wheel on an axle. Acorn lug nuts are a type of lug nut that has a domed top. They are used to secure wheels on cars and trucks.
Open Type:
Open type or Standard Type is a term used to define nuts that are cast as opposed to being forged. The process of casting involves the use of molds and dies which create an identical copy of the original nut. Open type nuts are cheaper than their counterparts, have no wastage during machining and can be produced in bulk quantities making them ideal for OEMs (Original Equipment Manufacturers).
Closed Type:
Closed type acorn lug nut market is expected to witness significant growth over the forecast period owing to its increasing demand in light commercial vehicles. The closed type has a shorter and sturdier stem than the open type which makes it suitable for heavy-duty applications. It also offers better protection from dirt, dust, water and road grime as there are no gaps between the cap and base making it impossible for dirt to get inside.
Application Insights:
Automobile was the largest application segment in 2017 and is expected to continue its dominance over the forecast period. The product has a long history in automobile manufacturing as acorn nuts were once used as original equipment manufacturers (OEM) nuts on account of their high quality and durability. Acorn lug nut is still an OEM nut for vehicles manufactured by Ford Motor Company, General Motors Company, Tesla Inc., Mercedes-Benz, Porsche AG, Volkswagen Group SE among others.
The truck segment held a significant share of the global market owing to increasing demand for heavy machinery across various construction industries around the world such as mining & quarrying, road building and maintenance etc. In addition, growing popularity of trucks with a payload capacity ranging from 5 tons to 20 tons coupled with ease of handling makes them popular choices among end users which further drives up demand for acorn lug nuts globally.
Regional Analysis:
North America dominated the global market in terms of revenue with a share of over 40.0% in 2017. This is attributed to increasing demand for lightweight vehicles and high vehicle safety standards, which have resulted in increased sales of premium cars equipped with acorn lugs nuts. Moreover, growing popularity for sports car and muscle cars has also contributed to the growth of this regional market.
Asia Pacific is expected to be the fastest-growing region from 2018 to 2030 owing to rapid urbanization resulting in increased automobile production and sales across countries such as China, India, Japan etc., coupled with rising disposable income especially among middle class population groups that can afford higher priced vehicles equipped with advanced safety features such as anti-lock braking system (ABS) & electronic stability program (ESP). These aforementioned factors are anticipated to drive product demand over next eight years.
Growth Factors:
- Increasing demand for automobiles
- Rising disposable income of consumers
- Technological advancements in the automotive industry
- Growing awareness about the benefits of using lug nuts
- Stringent government regulations for vehicle safety
Scope Of The Report
Report Attributes
Report Details
Report Title
Acorn Lug Nut Market Research Report
By Type
Open Type, Closed Type
By Application
Automobile, Truck, Racing, Others
By Companies
Gorilla Automotive, White Knight Wheel Accessories, RHI Automotive, Custom Wheel Accessories, McGard, Sickspeed, Dorman, Aodhanwheels, Bloxracing
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
136
Number of Tables & Figures
96
Customization Available
Yes, the report can be customized as per your need.
Global Acorn Lug Nut Market Report Segments:
The global Acorn Lug Nut market is segmented on the basis of:
Types
Open Type, Closed Type
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Automobile, Truck, Racing, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Gorilla Automotive
- White Knight Wheel Accessories
- RHI Automotive
- Custom Wheel Accessories
- McGard
- Sickspeed
- Dorman
- Aodhanwheels
- Bloxracing
Highlights of The Acorn Lug Nut Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Open Type
- Closed Type
- By Application:
- Automobile
- Truck
- Racing
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Acorn Lug Nut Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Acorn lug nuts are a type of wheel nut used on vehicles. They are made from a metal alloy and have a hexagonal shape.
Some of the key players operating in the acorn lug nut market are Gorilla Automotive, White Knight Wheel Accessories, RHI Automotive, Custom Wheel Accessories, McGard, Sickspeed, Dorman, Aodhanwheels, Bloxracing.
The acorn lug nut market is expected to register a CAGR of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Acorn Lug Nut Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Acorn Lug Nut Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Acorn Lug Nut Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Acorn Lug Nut Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Acorn Lug Nut Market Size & Forecast, 2020-2028
4.5.1 Acorn Lug Nut Market Size and Y-o-Y Growth
4.5.2 Acorn Lug Nut Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Open Type
5.2.2 Closed Type
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Automobile
6.2.2 Truck
6.2.3 Racing
6.2.4 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Acorn Lug Nut Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Acorn Lug Nut Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Open Type
9.6.2 Closed Type
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Automobile
9.10.2 Truck
9.10.3 Racing
9.10.4 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Open Type
10.6.2 Closed Type
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Automobile
10.10.2 Truck
10.10.3 Racing
10.10.4 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Open Type
11.6.2 Closed Type
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Automobile
11.10.2 Truck
11.10.3 Racing
11.10.4 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Open Type
12.6.2 Closed Type
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Automobile
12.10.2 Truck
12.10.3 Racing
12.10.4 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Open Type
13.6.2 Closed Type
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Automobile
13.10.2 Truck
13.10.3 Racing
13.10.4 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Acorn Lug Nut Market: Competitive Dashboard
14.2 Global Acorn Lug Nut Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Gorilla Automotive
14.3.2 White Knight Wheel Accessories
14.3.3 RHI Automotive
14.3.4 Custom Wheel Accessories
14.3.5 McGard
14.3.6 Sickspeed
14.3.7 Dorman
14.3.8 Aodhanwheels
14.3.9 Bloxracing
