ID: MRFR/AM/4938-HCR | February 2021 | Region: Global | 100 pages
The mechanical components that are used for joining or connecting parts in the vehicles and two or more joints are commonly called automotive fasteners. These automotive fasteners are generally made up of nickel, aluminum, stainless steel, iron, brass, and many other materials. Automotive fasteners are typically used for holding vehicle parts to avoid leakage from joints and separation. Owing to the variety of components available in varied designs, shapes, qualities, and design, the automotive fasteners market is growing tremendously in the global market.
It is expected that the automotive fasteners market in the global market will grow at a high CAGR of 4.5% to account for a higher market value by the end of the forecasted period from 2017 to 2023.
The situation of the global pandemic of COVID 19 has abruptly affected the lives of the people. Now, with the outbreak of COVID 19, one has to deal with the financial crises along with the health issues. This global pandemic problem has pushed the economies into forced recession. During the lockdown situation and post-lockdown period, the manufacturing units and production units, along with their distribution channels in the market were shut down all across the globe which resulted in the downfall of revenues and profit margins in the market in the global market.
It is expected that the automotive fasteners market in the global market will recover from this global pandemic loss situation by the end of the second quarter of the coming year during the forecasted period from 2017 to 2023.
The increasing growth of the automotive fasteners market in the global market is a great achievement. Some factors that drive the growth of the market in the global market are increasing demand for automotive components and an increase in sales of automobiles throughout the globe drives themarket in the global market. Also, the increasing development in the design of automotive fasteners along with technical improvement boosts the market for market. Moreover, the increasing use of replaceable fasteners in vehicles also accelerates the growth of the automotive fasteners industry.
The market is growing tremendously in the global market and provides various growth opportunities during the forecasted period. Owing to the reduction in the weight of vehicles and increase in demand stability of vehicles provides growth opportunities for market in the global market as compared to welding. Owing to increasing improvement in quality and design in fasteners which is done by various design companies provides opportunities for growth in the market in the global market.
The automotive fasteners market in the global market is increasing at an alarming rate but some factors restrict the growth of the market like the availability of huge substitution for automotive fastener market like clinching and welding that hampers the market for automotive fasteners rmarket distribution channel in the automotive fasteners industry.
The automotive fasteners market is growing at a fast pace in the global market owing to the increasing use of automotive fasteners in vehicles of all types all across the globe for providing value to society. It is diversifying and flourishing at a higher speed in the Asia-Pacific region owing to the presence of competitive countries like India and China for providing connective joints in various automobiles for avoiding leakage and hence increases efficiency in the working for the automotive fasteners industry in the global market.
The market in the global market has been divided based on type, material, distribution channels and end-users.
Themarket in the global market has been divided based on type into the threaded type and non-threaded type.
The market in the global market has been divided based on material into aluminium material, iron material, stainless steel material, nickel material and other material.
The market in the global market has been divided based on distribution channels into OEM distribution channel and aftermarket distribution channel.
The market in the global market has been divided based on end-users into the semi-permanent sector, removable sector, and permanent sector.
The automotive fasteners market in the global market has been divided based on the region into the North America region, Asia-Pacific region, Europe region and the rest of the world. The largest market share in the automotive fasteners industry in the global market is held by the Asia-Pacific region as is the fastest-growing region owing to the presence of various developing countries like India and China and various developed countries like Japan and Indonesia that has the highest automotive industry.
The second-largest share in the automotive fasteners market in the global market has been held by the Europe region owing to its increasing manufacturing of vehicles for tackling the increasing demand for automotive fasteners in the country like Germany during the forecasted period followed by the North America region owing to the presence of developed nations like U.S. and Canada and the increasing demand for automotive fasteners boost its growth in the global market.
The most prominent market players in the automotive fasteners market in the global market are as follows:
These prominent market key players use various policies and strategies to sustain their market position in the automotive fasteners market in the global market by increasing their customer base by doing a collaboration, mergers and acquisitions along with partnerships, product innovation, a new development in the production process and many creative policies.
This global automotive fasteners market research report consist of the following elements:
This global automotive fasteners market research report contains various factors that drive the automotive fasteners industry along with the factors that restrict its growth. This report contains various growth opportunities in the automotive fasteners industry during the forecasted period along with the impact of the global pandemic of COVID 19 on the market. The future market share and demand of the market is also estimated and mentioned. We hope that the real-time insights of this report Will help you know about the future of this market.
Manufacturers of automotive fasteners, automotive OEMs, electric vehicle manufacturers, industry associations and experts, traders, distributors, and suppliers of automotive fasteners, and many others are the consumers or rather the users of this market.
|Market Size||2027: Significant Value|
|CAGR||4.5% CAGR (2020-2027)|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type, Material, Distribution Channel, End-use|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||The Philips 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.)|
|Key Market Opportunities||
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
Shamrock International (US), Shanghai Tianbao Fastener Manufacturing Co., Ltd. (China), Jiangsu Xing Chang Jiang International Co., Ltd. (China), and Nifco Inc. (Japan) are vying for a share in the global market.
A CAGR of 4.5% is expected to be seen in the market globally.
The Asia Pacific region is anticipated to advance as the leading region through the forecast period.
The augmented demand for vehicle stability and condensed vehicle weight is predicted to push the market’s development.
Material, end-use, type, distribution channel, and region are the notable segments in the market.
The most prominent key players in the automotive fasteners market in the global market are Atotech (Germany), Shamrock International (U.S.), KAMAX (Germany), Shanghai Tianbao Fastener Manufacturing Co. Ltd. (China), Westfield Fasteners Limited (U.K.), SFS Group (Switzerland), Philips Screw Company (U.S.), Bulten AB (Sweden), Permanent Technologies Inc. (U.S.) and many others.