Automotive Fasteners - Global Market Outlook (2019 -2027)
According to Stratistics MRC, the Global Automotive Fasteners Market is accounted for $21.28 billion in 2019 and is expected to reach $28.67 billion by 2027 growing at a CAGR of 3.8% during the forecast period. Significant growth in the global automotive industry is the major factor propelling the market growth. However, factor such as appearance of alternatives for automotive fasteners is hampering the market growth.
Automotive fasteners are mechanical components used to connect or join two or more joints and parts in the vehicle. Fasteners are made up of aluminium, stainless steel, nickel, and others. The most important function of this market is that of holding vehicle parts mutually to avoid their separation and prevent leakage from joints. The automotive industry is flooded with a variety of fasteners, specifically for components due to the various shapes, designs, sizes, and qualities.
Based on the vehicle type, the passenger car (PC) segment is estimated to have a lucrative growth due to growing demand for lightweight fasteners; government mandates for fuel economy and emission reduction, and raise in per capita income are the factors fueling the demand for passenger cars in developing countries such as China and India. These factors have boosted the global command for the fastener market for passenger car segment.
By geography, Asia Pacific is going to have a lucrative growth during the forecast period due to their large production and sales of vehicles. The government regulations for lightweight vehicles have led to advancements in technology for manufacturing lightweight and durable products in the region. Also, manufacturers are shifting from standard parts to customized parts, which will impel the command for customized fasteners in this region.
Some of the key players profiled in the Automotive Fasteners Market include Shanghai Prime Machinery Company Limited, Nipman Fasteners, Wurth Group, Piolax, Westfield Fasteners Limited, Changshu City Standard Parts Factory, Fontana Gruppo, Simmonds Marshall Limited, Sterling Tools Limited, Bulten Ab, Stanley Black & Decker, SFS Group AG, Kamax, Meidoh Co. Ltd. and Bollhoff.
Material Types Covered:
• Stainless Steel
• Permanent Fasteners
• Removable Fasteners
• Semi-Permanent Fasteners
Electric Vehicle Types Covered:
• Plug-in Hybrid Electric Vehicle (PHEV)
• Hybrid Electric Vehicle (HEV)
• Battery Electric Vehicle (BEV)
Vehicle Types Covered:
• Heavy Commercial Vehicle (HCV)
• Light Commercial Vehicle (LCV)
• Passenger Car (PC)
Distribution Channels Covered:
• Original Equipment Manufacturers (OEM)
• Dry Film Lube Coating
• Passivated Coating
• Cadmium Coating
• Automotive Noise, Vibration & Harshness (NVH)
• Front/Rear Axle
• Interior Trim
• Car Body
• Electric Mechatronics
• Wire Harnessing
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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