Global Automotive Fastener Market, By Product (Threaded and Non-Threaded), Application (Engine, Chassis, Transmission, Steering, Front/Rear Axle, Interior Trim and Others), Characteristics (Removable Fasteners, Permanent Fasteners and Semi-Permanent Fasteners), Material Type (Stainless Steel, Iron, Bronze, Nickle, Aluminum, Brass and Plastic), Vehicle Type (Passenger Car (PC), Light Commercial Vehicle (LCV), Heavy Commercial Vehicle (HCV)), Electric Vehicle Type and Plug-in Hybrid Electric Vehicle (PHEV)), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia Pacific, South Africa, Saudi Arabia, U.A.E, Israel, Egypt, Rest of Middle East and Africa) Industry Trends and Forecast to 2029
Market Analysis and Insights Global Automotive Fastener Market
Data Bridge Market Research analyses that the automotive fastener market would exhibit a CAGR of 4.19% for the forecast period of 2022-2029 and would likely to reach an estimated amount of USD 28.23 billion in the forecast period of 2022-2029.
Automotive fasteners are mechanical components that connect or join two or more vehicle joints and parts. Aluminium, nickel, stainless steel, and other metals are used to make fasteners. The primary function of automotive fasteners is to hold vehicle parts together in order to prevent separation and leakage from joints. Because of the various shapes, sizes, designs, and qualities, the automotive industry is flooded with various fasteners, particularly for components.
The increase in demand for light weight vehicles due to the implementation of stringent emission norms around the world is likely to increase the adoption of lightweight components in vehicles, which is expected to boost the automotive fasteners market globally.
Due to the coronavirus pandemic, consumers' disposable income has increased, and tax rates on passenger and commercial vehicles have been reduced. The expansion of small and medium-sized industries engaged in the production of automotive components around the world is expected to fuel the global automotive fasteners market.
Advances in automotive technology and material composition are resulting in the development of cutting-edge automotive fasteners, which is boosting the global automotive fasteners market. The increasing use of fasteners in commercial vehicles is also expected to fuel the global automotive fasteners market.
However, the cost of research and development for automotive fasteners is much higher than for other automotive components. A significant amount of investment is required due to the scale of automobiles as a mode of transportation over long distances acts as a restrain to the market growth, the critical safety requirements and technical standards that are set to effectively regulate operations, and the need to deliver suitably long-life.
This automotive fastener market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on automotive fastener market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Automotive Fastener Market Scope and Market Size
Automotive fastener market is segmented on the basis of product, application, characteristics, material type and vehicle type. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of product, the automotive fastener market is segmented into threaded, and non-threaded.
- On the basis of application, the automotive fastener market is segmented into engine, chassis, transmission, steering, front/rear axle, interior trim, and others.
- On the basis of characteristics, the automotive fastener market is segmented into removable fasteners, permanent fasteners, and semi-permanent fasteners.
- On the basis of material type, the automotive fastener market is segmented into stainless steel, iron, bronze, nickle, aluminum, brass, and plastic.
- On the basis of vehicle type, the automotive fastener market is segmented into passenger car (PC), light commercial vehicle (LCV), heavy commercial vehicle (HCV), electric vehicle type and plug-in hybrid electric vehicle (PHEV).
Automotive Fastener Market Country Level Analysis
The global automotive fastener market is analysed and market size insights and trends are provided by country, product, application, characteristics, material type and vehicle type as referenced above.
The countries covered in the automotive fastener market report are U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), South Africa, Saudi Arabia, U.A.E, Israel, Egypt, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
Asia-Pacific dominates the automotive fastener market and will continue to flourish its trend of dominance during the forecast period owing to the automotive fasteners market is expanding as a result of rising demand for vehicles that are safer and more fuel efficient. Furthermore, government regulations for lightweight vehicles have resulted in technological advancements in the region for manufacturing lightweight and durable products.
The country section of the automotive fastener market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Competitive Landscape and Automotive Fastener Market Share Analysis
The automotive fastener market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to automotive fastener market.
Some of the major players operating in the automotive fastener market are Arconic, Bulten AB, STANLEY Engineered Fastening, HILTI INDIA PVT LTD, LISI SA, MacLean-Fogg, MISUMI Corporation, Nifco Inc, Precision Castparts Corp, SFS Group, A & G FASTENERS Pty Ltd, Penn Engineering, Illinois Tool Works Inc, Stanley Black & Decker, Inc., MW Industries, Inc, Brunner Manufacturing Co., Inc., Hilti Corporation, MW Industries, Inc., Birmingham Fastener and Supply Inc. and Sesco Industries Inc. among others.
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