Global Automotive Fasteners Market Growth, Trends, Size, Opportunities by Type (Threaded, Non-Threaded), Material (Iron, Aluminum, Brass, Nickel, Others), by Distribution Channel, End-use (Removable, Semi-Permanent, Permanent) and by Region – Forecast till 2023
Automotive Fasteners Market Highlights
Automotive fasteners are used to hold parts and prevent leakage in vehicles by joining to two or more parts through replaceable and permanent rivets. They play a significant role in improving the performance of the vehicle by using lightweight, good quality material, and high-performance fasteners. The increase in sales of automobiles and the demand for lightweight vehicles will influence the sales and market revenue. Growing awareness about fasteners benefit the global market, increasing the demand for quality fasteners that are light in weight, will boost the growth of the market during the forecast period. Growing automotive component market and an increase in sales of various automobile components will create opportunities for manufacturers in the automotive fasteners market. Furthermore, increased sales of components will increase merger and acquisition initiatives in the market for automotive fasteners. However, alternatives such as welding will majorly restrain the growth of the automotive fasteners.
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The prominent players in the automotive fasteners market include The Phillips Screw Company (US), Permanent Technologies Inc. (US), Atotech (Germany), Shanghai Tianbao Fastener Manufacturing Co., Ltd. (China), and Shamrock International (US). Jiangsu Xing Chang Jiang International Co., Ltd. (China), Nifco Inc. (Japan), KOVA Fasteners Pvt Ltd (India), Bulten AB (Sweden), and Westfield Fasteners Limited (UK) are among others.
Market Research Analysis
In terms of region, the global automotive fasteners market is divided into North America, Europe, Asia-Pacific, and Rest of the World. Asia-Pacific is expected to hold the highest market share in terms of both, value and volume, owing to the increased sales in the aftermarket of fasteners in Asia-Pacific. The rapid increase in the sales of automobiles in the market of Asia-Pacific will increase the size of the global automotive fasteners market. Increase in infrastructure development, increased sales of different automobiles, and trend of using high-performance fasteners in automobiles will boost the sales of the product in Asia-Pacific and open opportunities in the region. Europe is expected to lead in terms of CAGR during the forecast period. Presence of top manufacturers of automobiles and their parts in Europe will minimize the costs and enhance sales due to increased demand for quality and innovative design within automotive fasteners and growing sales .
Scope of the Report
This study provides an overview of the global automotive fasteners market, tracking three market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume, and share for North America, Europe, Asia-Pacific, and the Rest of the World. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global automotive fasteners market by type, materials, distribution channel, end-use, and regions.
- Stainless Steel
By Distribution Channel
- North America
- Rest of the World
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