Automotive Self-Piercing Rivets Market Forecast, Trend Analysis & Competition Tracking - Global Market insights 2015 to 2031

Automotive Self-Piercing Rivets Market Introduction

Self-piercing rivets (SPR) fasten or join materials that do not require predrilling or punching holes or pre-treatment surfaces. A variety of materials used in automotive can be mechanically joined using self-piercing rivets that includes steel, aluminum, nylon, plastic, rubber, composites, etc. SPR can be used on similar as well as different material combinations with varying thicknesses. Self-Piercing Rivets are available in a range of diameters and body lengths. SPR process can be easily automated and eases process monitoring.

Global Automotive Self-Piercing Rivets Market Revenue Outlook:

The global automotive self-piercing rivets market revenue was valued at US$ 931.6 Mn in 2020 and is projected to register а САGR of 12.6% by 2031.  Global automotive self-piercing rivets market is expected to expand at a CAGR of XX% and is projected to reach at US$ XX Mn in 2030, owing to increasing technological advancements such as self-piercing riveting method assisted by ultrasonic.

Nonetheless, various industry players in the global automotive self-piercing rivets market are now increasing their focus towards the establishment of successful collaborations, acquisitions, and/or joint venture activities as a means to enhance their respective customer bases. In doing so, these players are also increasing their supply capabilities to meet customer requirements on a local as well as global-scale. This factor paired with promising industrialization prospects in developing economies of the Asia-Pacific region, such as China, India, Taiwan, Indonesia, etc., are expected to create massive business opportunities for key players over the forecast period.

Growth in automotive industry is an essential factor resulting in increasing the demand for automotive self-piercing rivets

Over the years, lightweighting of automobiles has become one of the biggest challenges facing automobile manufacturers. Regulatory pressures to improve fuel economy and reduce emissions have proposed the development of new materials for vehicles. The increasing use of self-piercing rivets-as an ideal solution for large-capacity structural connections of various materials, is another factor in the anticipated surge the demand for rivets in this target sector. In addition, advancements and technological innovations in terms of customized products and techniques to fit the rising OEM requirements towards their goal of lightweighting, coupled with presence of high number of major manufacturers of self-piercing rivets is also likely to fuel demand for self-piercing rivets over the forecast period.

Production of Motor Vehicle (Units), By Country, 2019

Country	2019 (Million Units)
China	25.72
The U.S.	10.88
Japan	9.68
Germany	4.66
India	4.51
Mexico	3.98
South Korea	3.95
Brazil	2.94
Spain	2.82
France	2.2
Total	91.78

Opportunities for the Global Automotive Self-Piercing Rivets Market 

Increasing use of servo technology for installing self-piercing rivets has been registered amongst several automakers. The technology uses accurate encoders to detect whether the right rivet has been placed at the right position and can instantly alert if the positioning is incorrect. Moreover, the technology is versatile for riveting head with maximum capacity. It is also the ideal solution to process harder rivets or larger diameter ones. This is an ongoing trend in the industry that is likely to garner significant traction in the coming years. In addition, increasing innovations towards self-piercing rivets for compatibility and  light weighting of electric vehicles is expected to provide lucrative opportunities for the players in the global automotive self-piercing rivets market.

COVID-19 Impact Analysis

The COVID-19 impact on the global integrated automotive sector has been swift and severe. Initial concerns over interruptions in exports of Chinese parts, quickly escalated into large-scale manufacturing stoppages in several regions. The rising shock of the pandemic exacerbates an exisiting downshift in the global demand. From the supply side, a significant stoppage in raw material availability, halts in production activities, etc. is expected to increase risk of inflated prices. On the other hand, a subdued demand from consumers is giving signs of an impending global recession. These factors are expected to adversely affect growth of the target market till the first half of 2021 or till the overall situation diffuses.

Automotive Self-Piercing Rivets Market Dynamics

The global automotive self-piercing rivets market is segmented based on material type, application, and regions. Under the segmentation of material type, the ALMAC segment is expected to account for the majority revenue share of this target market. The ALMAC segment is estimated to account for a XX% revenue share in 2020, and is expected to register a CAGR of XX% during the forecast period. Among the application segment, luxury vehicle segment is expected to accounts for the largest revenue shares of this sector. The luxury vehicle segment is estimated to be the most lucrative segment in global automotive self- piercing rivets market with an attractiveness index of 5.9, and projected CAGR of 17.2%.

The Global Automotive Self-Piercing Rivets Market is segmented into different regions, North America, Europe, APAC, Latin America and MEA. Among regions, Europe are estimated to account for the maximum number of revenue shares, and are also expected to retain their respective market position in the years to come. Moreover, the Asia-Pacific region is expected to hold high CAGR during the forecast period. Europe is estimated to be the most lucrative market in the global automotive self-piercing rivets market with XX revenue share in 2020 and is expected to register a CAGR of XX% over the forecast period.

Competitive Landscape

Some of the leading manufacturers operating in automotive self-piercing rivets market include

• Stanley Black & Decker
• Atlas Copco
• Wilhelm Böllhoff GmbH & Co. KG
• Richard Bergner Holding GmbH & Co. KG
• Fukui Byora Co., Ltd.
• Chicago Rivet & Machine Co.
• National Rivet & Manufacturing Co.
• Allied Rivet, Inc.
• Other Key Industry Players

Some notable developments in the market include:

• STANLEY® Engineered Fastening – US-based renowned provider of industrial fastening products, announced its entry in the North America market with its “next-generation self-pierce rivets”. The company has a wide variety of self-piercing products and caters to a number of OEMs across Europe and North America.

Report Scope

• Forecast Period: 2022-2031
• Actual Year: 2021
• Historical Data Available for: 2015-2020

Key Regions Covered

• North America
  • US
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • South Korea
  • India
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Israel
  • Rest of MEA

Key Segments Covered

Global Automotive Self-Piercing Rivets Market, By Material Type

• ALMAC
• Aluminum
• Steel
• Other Material Types

Global Automotive Self-Piercing Rivets Market, By Application

• Luxury Vehicle
• Crossover Vehicle
• Hatchback Vehicle
• Other Vehicles