Industrial Fasteners Market
Industrial Fasteners Market Forecasts to 2028 - Global Analysis By Product (Internally Threaded Fasteners, Non-threaded Threaded Fasteners, Externally Threaded Fasteners and Other Products), Raw Material Plastic Fasteners, Metal Fasteners) and others
|
Years Covered |
2020-2028 |
|
Estimated Year Value (2022) |
US $94.17 BN |
|
Projected Year Value (2028) |
US $137.41 BN |
|
CAGR (2022 - 2028) |
6.5% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
Asia Pacific |
|
Fastest Growing Market |
North America |
According to Stratistics MRC, the Global Industrial Fasteners Market is accounted for $94.17 billion in 2022 and is expected to reach $137.41 billion by 2028 growing at a CAGR of 6.5% during the forecast period. Industrial fasteners are mostly high-quality fastening components used in the automotive, aerospace, marine, and construction industries. Due to the economy's expansion and significant investment spending, rising machinery, motor vehicle, and other durable goods production is projected to boost the growth of the market as a whole. The demand for bolts, nuts, screws, rivets, nails, washers, and studs is expected to rise in the coming years. Rapid industrialization and the expanding construction sector could fuel market expansion.
According to the United Nations Industrial Development Organization, the world’s manufacturing production showed a steady growth at the rate of 3.1% in the second quarter of 2022. According to the European Automobile Manufacturers' Association, The European auto industry is a global player, delivering quality ‘Made in Europe’ products around the world, and generating USD 85.50 billion trade surplus for the EU.
Market Dynamics:
Driver:
Demand from Aerospace Industry
The aerospace fasteners market is primarily driven by accelerating technical development, rising R&D expenditure in the defence industry, and expanding commercial aircraft production capacity. Eventually, the demand for the products will rise due to an increase in aircraft and passenger traffic worldwide. Due to the increased demand for aircraft, aerospace makers concentrate on regional expansion and work with OEMs to grow their businesses.
Restraint:
Availability of alternatives
The availability of substitutes is a difficult element that is anticipated to restrain the growth of the global market for industrial fasteners. The market growth may be constrained by the increasing replacement of metal fasteners in NVH and bonding applications by adhesives and tapes.
Opportunity:
Considerable growth in the construction industry
The market is primarily driven by the construction industry's rapid expansion. This might be linked to the rising demand for construction projects for homes and businesses around the world. Additionally, a significant growth-inducing aspect is the rising product usage in applications for cable management and home interiors. The market is expanding due to the rising need for developing innovative lightweight product versions for various automotive applications. Additionally, the manufacturing of aircraft structural hardware is undergoing constant technical progress, which is encouraging the market outlook.
Threat:
Increasing consumption of welds and rivets in aircraft
The market growth of industrial fasteners may be constrained by a rise in the usage of tapes and adhesives to replace metal fasteners. Additionally, the business has been somewhat hindered by the emergence of alternatives like welding and car component clinching.
Covid-19 Impact
The demand for and supply of non-COVID-19-related medical care has decreased as a result of the COVID-19 pandemic. Patients are delaying or avoiding a variety of treatments, including as urgent care for serious illnesses, regular checkups, and advised cancer screenings. Untreated illnesses and delayed treatment will have detrimental effects on long-term health. The confluence of life science and health care, rapid advancements in digital health technology, new talent and care delivery models, to mention a few, and a range of current and emerging healthcare trends have all been pushed by COVID-19.
The Externally Threaded Fasteners segment is expected to be the largest during the forecast period
The Externally Threaded Fasteners segment is estimated to have a lucrative growth, due to an increase in the number of vehicle production. Externally threaded studs are favoured for aerospace applications over bolts because of their stronger design. A frequently utilised material for making internally threaded goods is stainless steel. The additional raw materials utilised to make these products include alloy steel, brass, and aluminium.
The Metal Fasteners segment is expected to have the highest CAGR during the forecast period
The Metal Fasteners segment is anticipated to witness the fastest CAGR growth during the forecast period. When made using casting or powder metallurgical processes, metal products need to be sturdy enough to support heavy loads. Construction equipment and industrial machinery benefit from metals' superior resilience and mechanical strength, which is projected to fuel market demand. In order to advance in the value chain and improve their competitiveness, businesses are providing a wide variety of metal products to their end users.
Region with highest share:
Asia Pacific is projected to hold the largest market share during the forecast period owing to a rise in foreign capital inflow. The need for fasteners is being driven by the steady increase in the manufacturing of electronic and industrial machines. The government's targeted expenditures in aviation and aerospace projects are also helping to bolster the market for industrial fasteners.
Region with highest CAGR:
North America is projected to have the highest CAGR over the forecast period, owing to rising demand for advanced fasteners from a variety of end use industries like automotive, aerospace, building & construction, industrial machinery, and others. Another factor anticipated to promote growth of the target market in this area is the presence of significant players in the countries.
Key players in the market
Some of the key players profiled in the Industrial Fasteners Market include Ford Fasteners, Inc., American Bolt & Screw, SFS Group, Nobel Precision Metal Co., Ltd., Birmingham Fastener, Delta Fastener Corp., MacLean-Fogg Component Solutions (MFCS), American Fastener Technologies Corporation, Arconic Fastening Systems and Rings, Eurofast, MISUMI group Inc., Precision Castparts Corp, Nippon Industrial Fasteners Company, Reliable Polymer Industries, AF Fastener and Midwest Fastener Corp.
Key Developments:
In February 2022, MacLean-Fogg Component Solutions (MFCS) launched Threadstrong Line of Made-In-USA aftermarket wheel fasteners and the accompanying e-commerce website www.Threadstrong.us. These fasteners will be available direct to customers via the website. This strategy is expected to help the company grow its business and market share.
In November 2021, MISUMI group Inc. relocated and expanded its Indian subsidiary (sales site, distribution site, and production site). This move helped the company increase the total warehouse floor space by approximately 60% compared to the previous location, double the number of in-stock items to around 90,000, and strengthen the delivery time and supply.
April 2021, Birmingham Fastener & Supply Company, Inc. announced the acquisition of Steel City Bolt and Screw. From now on, all the operations performed by Steel City Bolt and Screw is to be mingled with the production unit at the headquarters of Birmingham Fastener & Supply Company located at Alabama. By this integration the level of service to customers is expected to be enhanced and increased.
In December 2019, The SFS Group acquired Moderne Befestigungselemente GmbH, a supplier of painted fasteners for high-performance façade systems. The acquisition is expected to give SFS direct access to specialty retailers for premium façade solutions and expand the product range of SFS.
Products Covered:
• Internally Threaded Fasteners
• Non-threaded Threaded Fasteners
• Externally Threaded Fasteners
• Aerospace Grade Fasteners
• Standard Fasteners
• Application Specific Fastener
• Other Products
Raw Materials Covered:
• Plastic Fasteners
• Metal Fasteners
• Other Raw Materials
Bolt Sizes Covered:
• 1/4- 3/4
• Less than 1/4
• More than 1
• 3/4 -1
• Other Bolt Sizes
Types Covered:
• Washers
• Nuts
• Rivets
• Nails
• Bolts
• Screws
• Other Types
Applications Covered:
• Building & Construction
• Automotive OEM
• Furniture
• Industrial Machinery
• Motors & Pumps
• Plumbing Products
• Home Appliances
• Lawns & Gardens
• Aerospace
• Machinery OEM
• Maintenance, Repair, & Operations (MRO)
• Other Applications
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 Application Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Industrial Fasteners Market, By Product
5.1 Introduction
5.2 Internally Threaded Fasteners
5.3 Non-threaded Threaded Fasteners
5.4 Externally Threaded Fasteners
5.5 Aerospace Grade Fasteners
5.6 Standard Fasteners
5.7 Application Specific Fastener
5.8 Other Products
6 Global Industrial Fasteners Market, By Raw Material
6.1 Introduction
6.2 Plastic Fasteners
6.3 Metal Fasteners
6.4 Other Raw Materials
7 Global Industrial Fasteners Market, By Bolt size
7.1 Introduction
7.2 1/4- 3/4
7.3 Less than 1/4
7.4 More than 1
7.5 3/4 -1
7.6 Other Bolt Sizes
8 Global Industrial Fasteners Market, By Type
8.1 Introduction
8.2 Washers
8.3 Nuts
8.4 Rivets
8.5 Nails
8.6 Bolts
8.6.1 Anchor Bolt
8.6.2 Flange Bolts
8.6.3 Hex Tap Bolts
8.6.4 Carriage Bolts
8.6.5 Lag Bolts
8.6.6 Hex Head Bolts
8.6.7 Machine Bolts
8.7 Screws
8.7.1 Hex Lag Screws
8.7.2 Sheet Metal Screws
8.7.3 Deck Screws
8.7.4 Self-Drilling Screws
8.7.5 Wood Screws
8.8 Other Types
8.8.1 Anchors
8.8.2 Rings
8.8.3 Inserts
9 Global Industrial Fasteners Market, By Application
9.1 Introduction
9.2 Building & Construction
9.3 Automotive OEM
9.4 Furniture
9.5 Industrial Machinery
9.6 Motors & Pumps
9.7 Plumbing Products
9.8 Home Appliances
9.9 Lawns & Gardens
9.10 Aerospace
9.11 Machinery OEM
9.12 Maintenance, Repair, & Operations (MRO)
9.13 Other Applications
9.13.1 Petro-chemical
9.13.2 Maritime
10 Global Industrial Fasteners Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa
11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies
12 Company Profiling
12.1 Ford Fasteners, Inc.
12.2 American Bolt & Screw
12.3 SFS Group
12.4 Nobel Precision Metal Co., Ltd.
12.5 Birmingham Fastener
12.6 Delta Fastener Corp.
12.7 MacLean-Fogg Component Solutions (MFCS)
12.8 American Fastener Technologies Corporation
12.9 Arconic Fastening Systems and Rings
12.10 Eurofast
12.11 MISUMI group Inc.
12.12 Precision Castparts Corp
12.13 Nippon Industrial Fasteners Company
12.14 Reliable Polymer Industries
12.15 AF Fastener
12.16 Midwest Fastener Corp
List of Tables
1 Global Industrial Fasteners Market Outlook, By Region (2020-2028) ($MN)
2 Global Industrial Fasteners Market Outlook, By Product (2020-2028) ($MN)
3 Global Industrial Fasteners Market Outlook, By Internally Threaded Fasteners (2020-2028) ($MN)
4 Global Industrial Fasteners Market Outlook, By Non-threaded Threaded Fasteners (2020-2028) ($MN)
5 Global Industrial Fasteners Market Outlook, By Externally Threaded Fasteners (2020-2028) ($MN)
6 Global Industrial Fasteners Market Outlook, By Aerospace Grade Fasteners (2020-2028) ($MN)
7 Global Industrial Fasteners Market Outlook, By Standard Fasteners (2020-2028) ($MN)
8 Global Industrial Fasteners Market Outlook, By Application Specific Fastener (2020-2028) ($MN)
9 Global Industrial Fasteners Market Outlook, By Other Products (2020-2028) ($MN)
10 Global Industrial Fasteners Market Outlook, By Raw Material (2020-2028) ($MN)
11 Global Industrial Fasteners Market Outlook, By Plastic Fasteners (2020-2028) ($MN)
12 Global Industrial Fasteners Market Outlook, By Metal Fasteners (2020-2028) ($MN)
13 Global Industrial Fasteners Market Outlook, By Other Raw Materials (2020-2028) ($MN)
14 Global Industrial Fasteners Market Outlook, By Bolt size (2020-2028) ($MN)
15 Global Industrial Fasteners Market Outlook, By 1/4- 3/4 (2020-2028) ($MN)
16 Global Industrial Fasteners Market Outlook, By Less than 1/4 (2020-2028) ($MN)
17 Global Industrial Fasteners Market Outlook, By More than 1 (2020-2028) ($MN)
18 Global Industrial Fasteners Market Outlook, By 3/4 -1 (2020-2028) ($MN)
19 Global Industrial Fasteners Market Outlook, By Other Bolt Sizes (2020-2028) ($MN)
20 Global Industrial Fasteners Market Outlook, By Type (2020-2028) ($MN)
21 Global Industrial Fasteners Market Outlook, By Washers (2020-2028) ($MN)
22 Global Industrial Fasteners Market Outlook, By Nuts (2020-2028) ($MN)
23 Global Industrial Fasteners Market Outlook, By Rivets (2020-2028) ($MN)
24 Global Industrial Fasteners Market Outlook, By Nails (2020-2028) ($MN)
25 Global Industrial Fasteners Market Outlook, By Bolts (2020-2028) ($MN)
26 Global Industrial Fasteners Market Outlook, By Anchor Bolt (2020-2028) ($MN)
27 Global Industrial Fasteners Market Outlook, By Flange Bolts (2020-2028) ($MN)
28 Global Industrial Fasteners Market Outlook, By Hex Tap Bolts (2020-2028) ($MN)
29 Global Industrial Fasteners Market Outlook, By Carriage Bolts (2020-2028) ($MN)
30 Global Industrial Fasteners Market Outlook, By Lag Bolts (2020-2028) ($MN)
31 Global Industrial Fasteners Market Outlook, By Hex Head Bolts (2020-2028) ($MN)
32 Global Industrial Fasteners Market Outlook, By Machine Bolts (2020-2028) ($MN)
33 Global Industrial Fasteners Market Outlook, By Screws (2020-2028) ($MN)
34 Global Industrial Fasteners Market Outlook, By Hex Lag Screws (2020-2028) ($MN)
35 Global Industrial Fasteners Market Outlook, By Sheet Metal Screws (2020-2028) ($MN)
36 Global Industrial Fasteners Market Outlook, By Deck Screws (2020-2028) ($MN)
37 Global Industrial Fasteners Market Outlook, By Self-Drilling Screws (2020-2028) ($MN)
38 Global Industrial Fasteners Market Outlook, By Wood Screws (2020-2028) ($MN)
39 Global Industrial Fasteners Market Outlook, By Other Types (2020-2028) ($MN)
40 Global Industrial Fasteners Market Outlook, By Anchors (2020-2028) ($MN)
41 Global Industrial Fasteners Market Outlook, By Rings (2020-2028) ($MN)
42 Global Industrial Fasteners Market Outlook, By Inserts (2020-2028) ($MN)
43 Global Industrial Fasteners Market Outlook, By Application (2020-2028) ($MN)
44 Global Industrial Fasteners Market Outlook, By Building & Construction (2020-2028) ($MN)
45 Global Industrial Fasteners Market Outlook, By Automotive OEM (2020-2028) ($MN)
46 Global Industrial Fasteners Market Outlook, By Furniture (2020-2028) ($MN)
47 Global Industrial Fasteners Market Outlook, By Industrial Machinery (2020-2028) ($MN)
48 Global Industrial Fasteners Market Outlook, By Motors & Pumps (2020-2028) ($MN)
49 Global Industrial Fasteners Market Outlook, By Plumbing Products (2020-2028) ($MN)
50 Global Industrial Fasteners Market Outlook, By Home Appliances (2020-2028) ($MN)
51 Global Industrial Fasteners Market Outlook, By Lawns & Gardens (2020-2028) ($MN)
52 Global Industrial Fasteners Market Outlook, By Aerospace (2020-2028) ($MN)
53 Global Industrial Fasteners Market Outlook, By Machinery OEM (2020-2028) ($MN)
54 Global Industrial Fasteners Market Outlook, By Maintenance, Repair, & Operations (MRO) (2020-2028) ($MN)
55 Global Industrial Fasteners Market Outlook, By Other Applications (2020-2028) ($MN)
56 Global Industrial Fasteners Market Outlook, By Petro-chemical (2020-2028) ($MN)
57 Global Industrial Fasteners Market Outlook, By Maritime (2020-2028) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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