NEW YORK, Feb. 11, 2023 /PRNewswire/ — The global automotive fasteners market is expected to grow by $8,379.8 million between 2022 and 2027. The market is poised to grow at a CAGR 8% – Request a sample report
A.AGRATI Spa – This company offers fasteners and components such as nuts and female fasteners for various applications in the car and truck markets.
Acument Global Technologies Inc. – This company offers a range of fasteners such as external threaded fasteners, external threaded fastening systems and internal threaded fastening systems.
Bulten AB – the company offers a wide range of fasteners, including custom-made standard products.
EJOT HOLDING GmbH & Co. KG – the company offers a wide range of fasteners, including large diameter bolts, for aviation, aerospace and construction equipment.
The global automotive fasteners market is fragmented due to the presence of several global and regional suppliers. Some of the well-known suppliers of automotive fasteners on the market are: A.AGRATI Spa, Acument Global Technologies Inc., Bulten AB, EJOT HOLDING GmbH and Co. KG, Illinois Tool Works Inc., KAMAX Holding GmbH and Co KG, Koninklijke Nedschroef Holding BV, Nifco Inc., Norm Holding, Penn Engineering, Phillips Screw Co., Precision Castparts Corp., Raygroup SASU, Rocknel Fastener Inc., SBE VARVIT Spa, Simmonds Marshall Ltd., Stanley Black and Decker Inc., Sterling Tools Ltd. , Sundaram Fasteners Ltd, Trifast plc, etc.
Renowned suppliers develop and manufacture fasteners and adhesives for the automotive industry. Due to stringent regulatory requirements, the focus is on improving the reliability and service life of automotive fasteners. Therefore, vendors must differentiate their offerings with clear and unique value propositions in order to survive and succeed in such a competitive environment over the forecast period.
Global Automotive Fasteners Market – Customer Environment To help companies evaluate and formulate growth strategies, the report describes:
Market Segment Overview Technavio has segmented the market based on end user (OEM and aftermarket) and vehicle type (passenger car and commercial vehicle).
The market share growth of the OEM segment will be higher than that of other segments during the forecast period. Original equipment manufacturers use fasteners for a variety of applications in the automotive industry. Automotive fasteners are used to join dissimilar materials without the use of glue. With the growth of manufacturing activity in the automotive industry, the demand for automotive fasteners will increase in the forecast period. These factors will drive the growth of this segment over the forecast period.
Geographic Overview Geographically, the global automotive fasteners market is segmented into Asia Pacific, Europe, North America, South America, the Middle East and Africa. The report offers useful insights and evaluates the contribution of all regions to the growth of the Global Automotive Fasteners Market.
The Asia-Pacific region is estimated to account for 59% of the global market growth during the forecast period. The market in this region is expected to grow at a faster rate than in Europe and North America. Most of the revenue in the Asia-Pacific region is expected to come from China, Japan and India due to increased car production. This is due to the fact that major automakers such as General Motors, Ford, Volkswagen and Daimler have moved their production bases to the developing countries of the Asia-Pacific region. These factors will drive the growth of the regional market over the forecast period.
Leading Drivers – The economic advantage of using plastic automotive fasteners is driving market growth. Plastics are being replaced by metals in many automotive applications due to cost advantages such as material and labor costs. In addition, plastics have faster turnaround times and productivity than metals, increasing productivity while lowering manufacturing costs per part. Therefore, the cost advantage, lack of corrosion, and versatility of plastic fasteners will drive the market during the forecast period.
Key trends. A key trend in the market is the growing popularity of lightweight fasteners. With advances in the automotive industry, manufacturers are introducing lightweight innovations to improve the strength and performance of fasteners. Lightweight materials are used in vehicles such as the body, chassis and interior, as well as powertrain components. To connect these parts, manufacturers use various methods such as rivets, thread drilling screws, and self-tapping screws. With these automotive mounting technologies, the weight of the vehicle can be reduced. While these technologies are commonly used in luxury vehicles, they are expected to expand to mid-size vehicles over the forecast period, accelerating market growth.
Main problems. Fastener recalls due to poor manufacturing processes represent a challenge for the automotive fastener market during the forecast period. The cost of product recalls is shared throughout the value chain in the automotive industry. When it comes to automotive fasteners, the use of poor quality materials and poor design and assembly of fasteners are two of the main causes of failure. These problems can be reduced or eliminated by following proper manufacturing and quality control procedures during and after the manufacture of fasteners. Therefore, product recalls due to fastener-related issues will hinder market growth during the forecast period.
Drivers, trends, and issues can influence market dynamics, which in turn affects business. Find some ideas from sample reports!
Detailed information on factors that will drive Automotive Fasteners market growth in 2023-2027
Accurately estimate the Automotive Fasteners market size and its contribution to the parent market.
Automotive Fastener Market Growth in Asia Pacific, Europe, North America, South America, Middle East & Africa
Comprehensive analysis of the factors that will hinder the growth of automotive fasteners market players.
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A.AGRATI Spa, Acument Global Technologies Inc., Bulten AB, EJOT HOLDING GmbH and Co. KG, Illinois Tool Works Inc., KAMAX Holding GmbH and Co KG, Koninklijke Nedschroef Holding BV, Nifco Inc., Norm Holding, Penn Engineering, Phillips Screw Co., Precision Castparts Corp., Raygroup SASU, Rocknel Fastener Inc., SBE VARVIT Spa, Simmonds Marshall Ltd., Stanley Black and Decker Inc., Sterling Tools Ltd., Sundaram Fasteners Ltd., Trifast plc.
Analysis of the parent market, drivers and barriers to market growth, analysis of fast-growing and slow-growing segments, analysis of the impact of COVID-19 and recovery, and future consumer dynamics, and analysis of the state of the market during the forecast period.
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About us Technavio is the world’s leading technology research and consulting company. Their research and analysis focuses on emerging market trends and provides actionable insights that help businesses identify market opportunities and develop effective strategies to optimize their market position. Technavio’s reporting library of over 500 professional analysts includes over 17,000 reports and scoring covering 800 technologies and covering 50 countries. Their client base includes businesses of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and hands-on market insight to identify opportunities in existing and potential markets and assess their competitive position in a changing market scenarios.
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Post time: Feb-16-2023
