Global Automotive Fasteners Market By Material Type (Iron, Nickel, Brass, & Others), By Application (Passenger Cars, Commerc), And By Region (North America, Europe, Asia Pacific, Latin America, And Middle East & Africa) – Global Forecast From 2020 To 2029

“Global Automotive Fasteners Market” is the title of a recently published market report compiled by MarketResearch.Biz. The report contains information and data, and inputs from both primary and secondary data sources, that have been verified and validated by experts in the target market. The report presents a thorough study of revenues, historical data, and information, key developments, and strategies by major players that offer vital insights and perspectives in to various scenarios market. Besides critical data and related information, the report includes key trends (both present and future), factors that are driving market growth, factors that are or could be potential restraints to market growth, as well as opportunities that can be leveraged for potential revenue generation in untapped regions and countries. It also covers threats or challenges for existing as well as new entrants in the market. The global automotive fasteners market has been segmented on the basis of material type, application, as well as regions and countries.

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The Global Automotive Fasteners Market was valued at UЅD $21,365.6 Мn in 2020, and is projected to achieve a valuation of UЅD $29,400.7 Мn by 2030, at a САGR of 4.0%.

Overview:

An automotive fastener is a device that is used to mechanically join (or fasten) two or more objects together. There are many different types that can be made from a wide range of materials, but, they can be generally classified under two types - permanent and non-permanent automotive fasteners.

Dynamics:

The steady surge in automobile manufacture and production across the world, especially in emerging economies, is resulting in an exponential increase in the demand for components such as automotive fasteners, etc. This is a primary factor that is expected to significantly boost the revenue growth of the global automotive fasteners market over the next 10 years.

Moreover, respective governing bodies and key industry manufacturers of various countries are focusing their efforts, now more than ever, towards the compliance with, and improvement of, industry safety standards/norms as well as the use of quality components in all their respective products. This is also expected to further augment future market growth of this global industry.

However, in light of the recent COVID-19 outbreak, the operations of numerous industries have either been temporarily halted or are functioning with a minimal workforce due to enforced lockdowns and imposed restrictions by respective governing bodies. The global automotive fasteners market is no different, and is a factor that is expected to have a significantly negative impact on the revenue growth of this industry in the coming years. Additionally, the growing availability of quality substitutes is also slated to negatively impact the market growth of this global industry.

Nonetheless, increasing investments by key industry players towards the development of improved components, as well as the growing demand for electric vehicles in the coming years, are some of the other factors that are expected to have a positive influence on the revenue growth of the global automotive fasteners market in the foreseeable future.

Segmentation of the global automotive fasteners market is as follows:

In terms of material type, the stainless steel segment accounted for the maximum number of revenue shares of the global automotive fasteners market in 2020, and is expected to continue doing so over the forecast period. The aluminum segment is also anticipated to register a considerable CAGR over the next 10 years.

With regards to application, the passenger vehicle segment accounted for the highest number of revenue shares of the global automotive fasteners market in 2020. However, the commercial vehicle segment is expected to register the highest CAGR in the years to come.

Regional Segmentation and Analysis:

The markets in the Asia Pacific region accounted for the maximum number of revenue shares of the global automotive fasteners market in 2020, and is expected to index a high CAGR over the remainder of this forecast period. The markets in Europe and North America accounted for the second-, and third-most number of revenue shares in 2020, and are anticipated to continue doing so over the next 10 years.

Segmentation of the Global Automotive Fasteners Market:

Segmentation by Material Type:

• Iron
• Nickel
• Brass
• Stainless Steel
• Aluminum
• Plastic

Segmentation by Application:

• Passenger Cars
• Commercial Vehicles

Segmentation by Regions:

• North America
• Europe
• APAC
• South America
• MEA