Market Research Future (MRFR) Announces the Publication of its Cooked Research Report — Global Automotive Fasteners Market 2020-2026.
The mechanical components used to connect or join two or more joints and parts in the vehicle are called automotive fasteners. Aluminum, nickel, stainless steel, and others are used to make fasteners. Holding vehicles together to avoid their separation and prevent leakage from joints is the primary function of automotive fasteners. Due to various shapes, sizes, designs, and qualities, the automotive industry is flooded with various fasteners, specifically for components. With the growing need for technical development and design improvement in automotive fasteners, the automotive fasteners market share is rising. To create opportunities for automotive fasteners vendors across the globe, there is increased demand for vehicle stability and reduced vehicle weight.
Stainless steel is an example of how social, economic, and environmental factors in material selection can result in a sustainable technical solution for manufacturing automotive parts, fasteners, and chassis. The stainless steel delivers fire-resistant, easy fabrication, and a high strength-to-weight ratio, which is the most preferred option for automotive fasteners. It gets easier to patch steel with steel fasteners as the chassis of most new automobiles are made with steel or have steel as a major component. Moreover, concerning strain rate, high-strength stainless steel provides great energy absorption. -40° C and +80° C are the suitable temperature ranges for the stainless steel fasteners.
However, automotive fasteners market trends include the opening of a new production plant in Taipei, Taiwan, by Bulten AB through its subsidiary PSM Fasteners Taiwan Ltd. The company's position as a global provider of fastener solutions was bolstered by this development, which also set the framework for managing future expansion.
Browse In-depth Details [Table of Content, List of Figures, List of Tables] of Automotive Fasteners Market Research Report
Illinois Tool Works and Amphenol Corporation also disclosed a deal in which ITW would buy the MTS Corporation system test as part of Amphenol's acquisition.
The use of battery-powered trains is an increasing trend and an alternate means of energy conservation for trains that run on non-electrified units. While traveling on non-electrified portions, the trains' large batteries are charged by electrified sections. Additionally, the expanding use of battery-powered devices to replace combustion engines lowers maintenance and energy expenses. As a result, battery-powered technologies to improve passenger convenience are successfully used in trains. Additionally, as battery-powered systems become increasingly popular, the automotive fasteners market trends in battery packs and charging stations are predicted to rise. This is because these fasteners can extend the lifespan of components connected by rivets or nuts and bolts
Automotive Fasteners Market
The market study has been segmented by geography into North America, Europe, Asia-Pacific, and the Rest of the world. Due to the region's strong automotive sales in nations like New Zealand, India, China, Japan, South Korea, and Indonesia, the automotive fasteners market share is anticipated to expand in Asia-Pacific. Due to the increasing demand for vehicles with improved safety and fuel efficiency. For manufacturing lightweight and durable products in the region, technological advancements are led by government regulations for lightweight vehicles. According to the automotive fasteners market forecast, the factors restraining the demand for automotive fasteners are the high and low awareness regarding automotive components.
Automotive Fasteners Market Segmentation
The automotive fasteners market is segmented by product, application, characteristics, material type, vehicle type, and electric vehicle type.
Based on product, the market is divided into Threaded and Non-Threaded.
Based on application, the market is divided into engine, chassis, transmission, steering, front/rear axle, interior trim, and others.
Based on characteristics, the market is divided into removable fasteners, permanent fasteners, and semi-permanent fasteners.
Based on material type, the market is divided into stainless steel, iron, bronze, nickel, aluminum, brass, and plastic.
Based on vehicle type, the market is divided into passenger car (PC), light commercial vehicle (LCV), and heavy commercial vehicle HCV)
Based on electric vehicle type, the market is divided into battery electric vehicle (BEV), hybrid electric vehicle (HEV), and plug-in hybrid electric vehicle (PHEV)
The companies involved in the market of automotive fasteners are:
- The Phillips Screw Company (U.S.)
- Permanent Technologies Inc. (U.S.)
- Atotech (Germany)
- KAMAX (Germany)
- Lisi Group (France)
- SFS Group (Switzerland)
- Fontana Gruppo (Italy)
- Shanghai Tianbao Fastener International (U.S.)
- Nifco Inc. (Japan)
- KOVA Fasteners Pvt Ltd. (India)
- Bulten AB (Sweden)
- Westfield Fasteners Limited (U.K.)