The Industrial Fasteners Global Market Report 2023, provides comprehensive information on the industrial fasteners market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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In accordance with The Business Research Company’s Industrial Fasteners Global Market Report 2023, there is a discernible trajectory indicating substantial growth in the global industrial fasteners market. Forecasts reveal an anticipated increase from the 2022 valuation of $84.95 billion to an estimated $90.32 billion in 2023, reflective of a commendable compound annual growth rate (CAGR) of 6.3%. However, the geopolitical unrest resulting from the Russia-Ukraine conflict has cast a shadow over the world’s economic recovery post-COVID-19, particularly in the short term. This discord has triggered a cascade of economic sanctions, a spike in commodity prices, and consequential disruptions in global supply chains, culminating in inflationary pressures across goods and services and manifesting repercussions across diverse global markets. Despite these challenges, the global industrial fasteners market is poised for continued expansion, with projections indicating a market size of $110.6 billion in 2027, underpinned by a steady CAGR of 5.2%. This underscores the resilience and inherent growth potential of the industrial fasteners sector amidst the prevailing geopolitical and economic complexities.
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A prevailing trend in the industrial fasteners market centers around the pivotal role of product innovations. Leading companies within this sector are strategically concentrating their efforts on the research, development, and launch of novel and advanced products to fortify their competitive standing. A notable illustration of this commitment to innovation is exemplified by Valley Forge & Bolt, a distinguished US-based industrial fasteners manufacturer. In March 2021, the company introduced a groundbreaking product named High Temp Maxbolt. This innovation is specifically designed to mitigate downtime, prevent premature wear, and avert catastrophic joint failures in critical industries such as processing, mining, and energy. Distinguishing features include a high-temperature lens and an easy-to-read gauge, rendering the new bolt well-suited for rapid thermal cycle applications and prolonged high-temperature scenarios. The introduction of such cutting-edge solutions not only showcases the industry’s commitment to excellence but also addresses the evolving needs of sectors requiring reliability and durability in adverse conditions.
The industrial fasteners market is segmented:
1) By Type: Externally Threaded, Internally Threaded, Non-Threaded, Aerospace Grade
2) By Raw Material: Metal, Plastic
3) By Application: Automotive, Aerospace, Construction, Industrial Machinery, Plumbing Products, Other Application
Top Major Players
Acument Global Technologies Inc.
Nippon Industrial Fasteners Company (Nifco) Inc.
Asia-Pacific was the largest region in the industrial fasteners market in 2022.
The table of contents in TBRC’s industrial fasteners market report includes:
1. Executive Summary
2. Industrial Fasteners Market Characteristics
3. Industrial Fasteners Market Trends And Strategies
4. Industrial Fasteners Market – Macro Economic Scenario
5. Industrial Fasteners Market Size And Growth
……..
26. Africa Industrial Fasteners Market
27. Industrial Fasteners Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Industrial Fasteners Market
29. Industrial Fasteners Market Future Outlook and Potential Analysis
30. Appendix
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