Automotive Fastener Market Trends, Growth Rate, Consumption By Regional Data And Forecast 2022-2031

Shibuya-ku, Tokyo, Japan, Japan, Jul 08, 2022, 02:55 /Comserve / -- The report predicts the global Automotive Fastener Market to grow at a healthy CAGR over the forecast period from 2022-2031.

“The significant growth of production in the global automotive industry is expected to drive the automotive fastener market”

The global automotive fastener market is projected to grow from an estimated USD 21.45 billion in 2022 to USD 25.30 billion by 2031, at a CAGR of 2.39% from 2022 to 2031. The market is anticipated to grow owing to various reasons such as the growing vehicle production, shifting focus toward lightweight vehicles, and the increasing use of electronics in vehicles. However, the major restraint for the automotive fastener market is the development of alternatives such as clinching and welding in auto parts, which can potentially reduce the cost of operation and thus can eliminate the use of traditional fasteners.

“The semi-permanent fastener segment is estimated to be the fastest-growing segment of the automotive fastener market, in terms of value”

Semi-permanent fasteners, such as cotter pin, can be disassembled. Semi-permanent automotive fastener is the upcoming trend in the automotive industry. Semi-permanent fasteners segment is expected to show comparatively higher growth in the future due to its wide use in automobiles. It can be used in almost all components of a vehicle. Wide application and advantages over permanent fasteners will drive the growth of semi-permanent fasteners in the coming years.

“The Rest of World region is estimated to be the fastest-growing market for the automotive fasteners in terms of value”

The increasing production of vehicles, specifically in Brazil and Russia, is expected to drive the automotive fastener market in the Rest pof World region. The electric, self-driving, and connected vehicles are global trends and will potentially make the largest impact on the development of the region's car market. The support of the Russian and Brazilian governments to the relevant projetcs will boost the automotive fastener market in the region.

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The study contains insights provided by various industry experts, ranging from automotive fastener manufacturers to automobile OEMs and various automotive associations.

The break-up of the primaries is as follows:

• By Company Type: Tier I–50%, Tier II–30% and Tier III–20%
• By Designation: C Level–40%, D Level–35% and Others –25%
• By Region: Asia Pacific–60%, Europe–25%, North America–15%

Players profiled in the report are:

• Bulten AB (Sweden)
• KAMAX (Germany)
• Stanley Black & Decker (US)
• Shanghai Prime Machinery Company (China)
• SFS Group (Switzerland)
• Lisi Group (France)
• Meidoh Co. (Japan)
• Nipman Fasteners (India)
• Piolax (US)
• Westfield Fasteners (UK)
• Fontana Gruppo (Italy)
• Bollhoff (Germany)
• Nedshroef (Netherlands)
• Nifco Group (Japan),
• Simmonds Marshall (India)

Research Coverage

The report covers the automotive fastener market by characteristics (removable, permanent, semi-permanent), products (threaded, non-threaded), material type (stainless steel, plastic, aluminum, iron, nickel, brass, bronze), application (engine, chassis, transmission, steering, front/rear axle, interior trim, others), vehicle type (passenger car, HCV, LCV), electric vehicle type (BEV, HEV, PHEV) and region (Asia Pacific, Europe, North America and Rest of World).

Reasons to Buy the Report:

The report provides insights into the following points:

• Market Penetration: The report provides comprehensive information on automotive fasteners offered by the top players in the industry.
• Market Development: The report offers comprehensive information about automotive fasteners. The report analyzes the market for automotive fasteners across regions and provides comprehensive information about lucrative emerging markets.
• Market Diversification: The report provides exhaustive information about emerging trends, market dynamics, and investments in the global automotive fastener market.
• Competitive Assessment: The report offers an in-depth assessment of strategies, services, and manufacturing capabilities of leading players in the global fasteners market

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