Global Automotive Fasteners Market By Material Type, By Application, And By Region (North America, Europe, Asia Pacific, Latin America, And Middle East & Africa) – Global Forecast From 2020 To 2029
28th August 2019
find_in_page Our Research Methodology is based on the following main points:
- Data Collections and Interpretation
- Data Validation
- Final Projections and Conclusion
“Global Automotive Fasteners Market” is a published report offered by MarketResearch.biz. The global automotive fasteners market is expected to be valued at approximately US$ 21 Bn in 2020 and is projected to register a CAGR of 3.6% over the 10-year forecast period. The global automotive fasteners market report has been segmented on the basis of material type, application, and region.
A fastener is a hardware device that joins objects together. The joints created by fasteners are non-permanent that can be dismantled or removed without damaging components joined together. Automotive fasteners are mechanical components, which are used in vehicles and in various automotive assemblies. Automotive fasteners are generally used to join together or connect multiple parts of the vehicles. Various automotive fasteners include nuts, bolts, screws, rivets, inserts, washers, retaining rings, concrete anchors, and threaded rods used exclusively for production of automotive. By holding various parts of vehicles together, automotive fasteners prevent separation, wobbling, transmitting loads, and leakage from joints. Nickel, stainless steel, iron, brass, plastic, and aluminum are used to produce automotive fasteners. Automotive fasteners are available in different shapes, sizes, and designs and can also be customized as per requirements. Automotive fasteners play a major role in the performance of vehicles.
Owing to a rapidly increasing demand for automotive fasteners from the growing automotive industry worldwide, the global automotive fasteners market is expected to grow during the forecast period. The increasing research and development activities by major manufacturers for the development of innovative materials to increase strength and lower the overall weight of automotive fasteners is expected to further drive demand for automotive fasteners in the global automotive fastener market. Increasing demand for plastic fasteners over metal ones owing to various benefits and advantages such as corrosion resistance characteristics, improved design and lightweight, and growing usage for automotive interior applications is projected to drive growth of the global automotive fasteners market over the forecast period.
Due to global car production is currently witnessing steady growth, especially in developed countries in regions such as North America and Europe, growth of the global market is expected to increase further. However, markets in developing countries in the Asia Pacific are expected to witness high revenue growth rates in the coming years. In addition, high revenue growth of these regions is attributed to increasing disposable income among consumers in countries in the regions. This, in turn, is expected to drive growth of the global automotive market to a significant extent and the global automotive fasteners market subsequently over the forecast period. Another factor driving growth of the global automotive fasteners market is growing product optimization for different automotive applications. In addition, focus of governments to improve safety and related features in cars and other commercial vehicles through mandatory norms and regulations are expected to drive growth of the market.
availability of various substitutes such as clinching and welding for automotive fasteners is a major factor that may hamper demand and restrain growth of the global automotive fastener market over the forecast period. In addition, fluctuating raw material prices due to environmental regulation is another factor, which may also restrain new players enter the market. Various shortcomings of different types of plastics available are also expected to hamper growth of the market. Increasing demand for Electric Vehicles (EV) globally is projected to result in increased production capacity and uptake of raw material used for electric vehicles, especially automotive fasteners. Various established car manufacturers, as well as domestic players, are focusing on introducing and setting up plants and manufacturing facilities across the globe. This is expected to create more opportunities for manufacturers to gain a competitive edge in the global automotive fasteners market.
Global Automotive Fasteners Market Segment Analysis:
By Material Type: Among material type segments, the stainless steel segment is projected to account for major revenue share in the target market. The stainless steel segment is projected to register highest CAGR of over 4.3% over the forecast period.
By Application: Among application segments, the passenger car segment is projected to account for major revenue share and is projected to register highest CAGR of over 3.2% over the forecast period.
Global Automotive Fasteners Market Regional Analysis:
Asia Pacific market is estimated to contribute highest revenue share in the global automotive fasteners market. The Asia Pacific market is projected to register highest growth rate of over 4% over the next 10 years.
Key Developments by Companies
Stanley Black & Decker (Stanley Engineered Fastening) (Year-2018)
Corporate Changes/Expansions; In April, the company announced to build a fuel cell generation facility that would generate 20 megawatts of power.
Contracts/Agreements; In May, the company and Oxehealth entered into a partnership to serve the UK mental health sector.
Acquisitions/Mergers/Takeovers; In August, the company agreed to acquire International Equipment Solutions Attachments for US$690 million.
New Products/Services; In August, the company's division Sargent and Greenleaf launched S&G Lock Shop, its first direct to consumer e-commerce site.
Contracts/Agreements; In September, the company entered into an agreement to acquire 20% stake in MTD Products Inc., a manufacturer of outdoor power equipment, for US$234 million.
Acquisitions/Mergers/Takeovers; In April, the company acquired Nelson Fastener Systems from Doncasters Group.
Financing Agreements; In September, Evolve Additive Solutions, raised US$19 million in an equity investment led by the LEGO Brand Group with Stanley Black and Decker Investments.
Sundram Fasteners Limited (Year-2018)
Acquisitions/Mergers/Takeovers; In April, the company acquired Precision Technology Supplies, a stainless steel fastenings supplier and distributor in the UK.
The Group has continued to perform well across all our regions, delivering another year of strong growth. Revenues have increased by 5.8% at CER and are up 5.7% to £209.0m at Actual Exchange Rate (‘AER’) for FY2019. This reflects a solid organic performance of 2.2% (AER: 2.1%). In addition, there has been a very successful first year in the Group for our latest acquisition, Precision Technology Supplies (PTS), who has contributed a further 3.6% of growth to the top-line.
Global Automotive Fasteners Market Segmentation:
By Material Type:
- Stainless Steel
- Passenger Car
- Commercial Vehicle
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
- Illinois Tool Works Inc
- Stanley Black & Decker (Stanley Engineered Fastening)
- Sundram Fasteners Limited
- Trifast plc
- Rocknel Fastener, Inc
- Shanghai Prime Machinery Co., Ltd
- Penn Engineering & Manufacturing
- Bulten AB
- THE PHILLIPS SCREW COMPANY
- Berkshire Hathaway, Inc.
- Chapter 1 Global Automotive Fasteners Market Insights
- 1.1 Introduction
- 1.2 Global Automotive Fasteners market is segmented on the basis of material type, application, and region:
- 1.3 Drivers of the Global Automotive Fasteners Market
- 1.4 Restraints of the Global Automotive Fasteners Market
- 1.5 Opportunities for Global Automotive Fasteners Market
- 1.6 Trends of Global Automotive Fasteners Market
- 1.7 Macro-economic Factors
- 1.8 Opportunity Map Analysis
- 1.8.1 Optimistic Scenario:
- 1.8.2 Likely Scenario:
- 1.8.3 Conservative Scenario:
- 1.9 Opportunity Orbits
- 1.10 Market Investment Feasibility Index
- 1.11 Pest Analysis
- 1.12 PORTER’s Five Forces Analysis
- 1.13 Regional Market Share and BPS Analysis
- 1.14 Cost Analysis
- Chapter 1 Global Automotive Fasteners Market Insights
Frequently Asked Questions (FAQ)
Illinois Tool Works Inc, Stanley Black & Decker (Stanley Engineered Fastening), Sundram Fasteners Limited, Trifast plc, and Rocknel Fastener, Inc. are the leading five key players in the global automotive fasteners market
Revenue from the iron segment in the global automotive fasteners market is projected to expand at a CAGR of 2.8% over the forecast period
The projected revenue share difference between stainless steel and aluminum segments in the North America market in 2029 is US$ 275.40 Mn.
Asia Pacific market is projected to account for highest revenue share of US$ 10,534.0 Mn in 2022.
In 2026, electro stainless steel segment is projected to account for revenue share of US$ 7,917.9 Mn
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