Global Automotive Fastener Market was valued US$ 20.50 Bn in 2019 and is expected to reach 30.20 Bn by 2027, at a CAGR of 4.96 % during a forecast period.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
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Automotive fasteners are commonly used for the clamping parts of a vehicle to combine their separation or wobbling, transmitting loads and prevent leakage of joint.
The rapid expansion of the automotive industry in developing countries across the globe, rising demand for electric and alternative powertrain vehicles are the major driving factors of the global automotive fastener market. Additionally, key players are focusing on the change in the production of the fasteners from standard fasteners to customized fasteners are expected to boom the global automotive fastener market. On the other side, the presence of substitute like welding and clinching for automotive fasteners are limiting to reach its full potential growth in the global automotive fastener market.
Currently, the threaded fasteners, which have internal and external screw threads are widely used for both assembling and disassembling. Threaded fasteners include nuts, screws, rivets, and studs. With these fasteners, there is also a large number of special fasteners are available, which are greatly specialized in nature and created just for a particular application. As technology advances special fasteners have also been given protective coatings to make them more durable and reliable in nature. For instance, vehicles run on different territory and in various weather conditions, so the fasteners have to withstand the contact to the elements. Those fasteners, which are used in the area of the engine should have the capability to bear high temperatures, which can prevalent these parts.
Automotive fasteners have mainly been made from steel. The industry requirements have led to changes in the materials. Currently, fasteners are made from different materials like stainless steel, iron, brass, aluminum, nickel, and even plastics and composites. The different types of general fasteners are bolts, nuts, and washers, screws, studs, rivets, nails, keys and adhesives.
Automotive fasteners are going through a lot of changes and new innovations are coming at a rapid pace. In the automotive sector, some of the trends emerging in the fastener industry. There are precise functional permanence fasteners, which can be installed permanently and later on joined with nominal loose hardware to complete the attachment. They are different from conventional fasteners like adhesives and rivets in such a way, which allow parts to be disassembled once joined together, without affecting damage to them.
The automotive fastener market in the Asia Pacific is expected to reach US $ XX Bn by 2026, which is supported by automotive demand and an increase in the disposable income of the consumers. China is the automotive fastener market leader and India is also projected to experience significant growth in the automotive fastener market during the forecast period. The automotive industry in this region is ranked as one of the largest automotive industry in the world.
The demand from the main market like the US and the middle east and Africa is still growing, which is the great news for developing countries exporters in this region. The automotive industry sector in developing countries like China and India attracts enormous attention from foreign investors as they can experience various benefits in terms of manufacturing cost, technology, and innovations. The development in the sector like an automobile, industrial goods, and infrastructure with the technical and human resource pool are expected to grow the automotive fastener market in the region with a XX % rate of CAGR.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding dynamics, structure by analysing the market segments and, project the Global Automotive Fastener Market The report also provides a clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Global Automotive Fastener Market The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders in arranging the efforts and investment in the near future to a particular market segment.
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Global Automotive Fastener Market, By Product
Global Automotive Fastener Market, By Application
• Front/rear axle
• Interior trim
Global Automotive Fastener Market, By Characteristics
• Removable Fasteners
• Permanent Fasteners
• Semi-Permanent Fasteners
Global Automotive Fastener Market, By Material Type
• Stainless Steel
Global Automotive Fastener Market, By Vehicle Type
• Passenger Car (PC)
• Light Commercial Vehicle (LCV)
• Heavy Commercial Vehicle (HCV)
Global Automotive Fastener Market, By Electric Vehicle Type
• Battery Electric Vehicle (BEV)
• Hybrid Electric Vehicle (HEV)
• Plug-in Hybrid Electric Vehicle (PHEV)
Global Automotive Fastener Market, By Geography
• North America
• Asia Pacific
• Middle East & Africa
• South America
Key players, Global Automotive Fastener Market
• Sundram Fasteners Limited
• LISI Group
• Sterling Tools Limited
• Bulten Ab
• Stanley Black & Decker
• SFS Group AG
• Shanghai Prime Machinery Company Limited
• Meidoh Co. Ltd.
• Westfield Fasteners Limited
• Changshu City Standard Parts Factory
• Fontana Gruppo
• Nipman Fasteners
• Wurth Group
• Simmonds Marshall Limited
• Nifco Group
• Boltun Corporation
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