Overview and Scope
Automotive fasteners refer to hardware devices that help to hold vehicle parts together mechanically. These fasteners are used to clamp parts of the vehicle, prevent leakages, and improve the performance of vehicles. Fasteners can typically be permanent or non-permanent, but they are frequently employed to construct joints that are not permanent. This makes it possible to remove or disassemble the joints without harming the linked components.
Sizing and Forecast
The automotive fasteners market size has grown steadily in recent years. It will grow from $27.74 billion in 2023 to $28.65 billion in 2024 at a compound annual growth rate (CAGR) of 3.3%. The growth in the historic period can be attributed to increased automobiles production, increased demand for commercial vehicles, and strong economic growth in emerging markets.
The automotive fasteners market size is expected to see steady growth in the next few years. It will grow to $31.81 billion in 2028 at a compound annual growth rate (CAGR) of 2.7%. The growth in the forecast period can be attributed to increasing demand for electric vehicles and supportive government regulations. Major trends in the forecast period include launching self-clinching fasteners, developing new technological solutions, launching lightweight carbon fiber fasteners, launching new, innovative products, undergoing partnerships and collaborations.
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Segmentation & Regional Insights
The automotive fasteners market covered in this report is segmented –
1) By Product: Threaded, Non-Threaded
2) By Material Type: Iron, Steel, Aluminium, Brass, Plastic, Other Material Types
3) By Propulsion: IC (Internal Combustion) Engine Vehicles, Electric Vehicles, Hybrid And Alternative Fuel Vehicles
4) By Application: Engine, Chassis, Transmission, Steering, Front Or Rear Axle, Interior Trim, Other Applications
Asia-Pacific was the largest region in the automotive fasteners market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive fasteners market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The increasing demand for electric vehicles is expected to propel the growth of the automotive fasteners market going forward. Electric vehicles refer to vehicles that have been either partially or fully powered by electricity. EV general infrastructure equipment and battery casings require high-quality fastenings to provide security settings. For instance, according to a study by Bloomberg New Energy Finance (BNEF) report, electric vehicles will account for 10% of global passenger vehicle sales by 2025, rising to 28% in 2030 and 56% in 2040. Therefore, the rise of electric vehicles will drive the growth of the automotive fasteners market.
Key Industry Players
Major companies operating in the automotive fasteners market report are Illinois Tool Works Inc., KAMAX Holding GmbH & Co. KG, Lisi S.A., Stanley Black & Decker, Bulten AB, Nifco Inc., PennEngineering, Sundram Fasteners Limited, The SFS Group AG, Agrati, KOVA Fasteners Pvt. Ltd., Deepak Fasteners Limited (DFL), TorqBolt Inc., Jyoti Engineering (Jyoti), Boltport Fasteners (BPF), Kaloti Group of Companies, Ananka Fasteners Manufacturers, Caliber Enterprises (India), Yijin Hardware Co., Ltd., Shanghai Jianxin Hardware Co., Ltd., Jiaxing Qimu Trading Co., Ltd., Handan Zhongpin Fasteners Manufacturing Co., Ltd., Tianjin Fine Fasteners Co., Ltd., Tucker GmbH, Keller & Kalmbach GmbH, GWR Fasteners Limited, Kebrell Nuts & Bolts Ltd., FASTENEX, S.L., Rivit s.r.l., Bontempi Vibo, TR VIC Italy, Fiera srl, Zavod Signal, Ideal-Plast LLC, LitPromGarant –NN LLC, Proftruba LLC, Coba Automotive Rus LLC, Spring Alians LLC, Ural Spring Plant, Nedschroef, Zwick Roell Group, Belenus of Brazil S / A, METALAC, Fastener SRL, BULONERA BAF SRL, AI-Rashed Fasteners, Prince Fasteners Manufacturing Co Ltd., Petrofast Middle East FZC, Asia Bolts Industries LLC, EJOT Middle East, TripleFast Middle East, Kuban Karare, Phillips screw company, Westfield Fasteners Limited
The automotive fasteners market report table of contents includes:
1. Executive Summary
2. Automotive Fasteners Market Characteristics
3. Automotive Fasteners Market Trends And Strategies
4. Automotive Fasteners Market – Macro Economic Scenario
5. Global Automotive Fasteners Market Size and Growth
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31. Automotive Fasteners Market Other Major And Innovative Companies
32. Global Automotive Fasteners Market Competitive Benchmarking
33. Global Automotive Fasteners Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Automotive Fasteners Market
35. Automotive Fasteners Market Future Outlook and Potential Analysis
36.Appendix
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