Industrial Fasteners Market
The Industrial Fasteners Market was estimated around USD 82 billion in 2019 and is expected to grow at CAGR of 4.5% over the forecast period (2020-2027).
The factors driving the growth of Industrial Fasteners Market includes rise in the production of light wight electric vehicles, growing demand for fasteners in construction, machine manufacturing and ship building and increase in the air passenger traffic around the world. According to the report published by International Energy Agency, 6.6 million units of electric cars were sold worldwide in 2021 and 2 million units were sold in the first quarter of 2022, showing an increase of 75% from the same period in 2021, which will accelerate the Global Industrial Fasteners Market in the approaching years. Moreover, growing emphasis on reducing carbon emissions, rise in the launch of innovative products, technological innovations in the construction industry and emerging need to conserve energy, are some of the additional factors supplementing the Industrial Fastener Market size. In addition, the increasing investments by leading players on research and development, rising disposable incomes and rapid urbanization, are further contributing towards the market growth.
However, the growth of Industrial Fasteners Market is hindered due to availability of substitutes of metal fasteners.
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The major players operating in the market are MW Industries, Inc., Hilti Corporation, Sesco Industries, Acument Intellectual Properties, LLC, Arconic, Dokka Fasteners, Birmingham Fastener and Supply Inc., Nifco Inc, LISI Group and ATF Inc., among others.
Based on Raw Material, the Metal Fasteners segment is predicted to expand at a significant CAGR during the forecast period
Metal fasteners enhances mechanical strength, increases corrosion resistance along with its high tensile properties, are some of the factors responsible for the segment’s growth.
Based on Application, Automotive segment is projected to expand at a remarkable CAGR over the forecast period
Rise in the production of passenger vehicles and growing demand for energy efficient engines, are propelling the segment’s growth.
Based on Region, the Asia-Pacific region is anticipated to capture the largest market share during the forecast period
Government policies supporting the production of electric vehicles, increase in the Foreign Direct Investment (FDI) inflows in the construction sector, rising disposable incomes, rapid urbanization, and high population growth rates, are some of the important factors augmenting the market growth in Asia-Pacific.
Key Developments
- In 2020, Birmingham Fastener and Supply Inc. completed the acquisition of Atlanta Rod and Manufacturing, through this acquisition, the company is plans to expand its foothold in the United States.
- In 2020, Hilti Corporation launched smart fasteners which will enhance jobsite productivity across application chain.
Market Segmentation
Global Industrial Fasteners Market by Raw Material
- Plastic Fasteners
- Metal Fasteners
Global Industrial Fasteners Market by Product
- Internally Threaded Fasteners
- Externally Threaded Fasteners
- Aerospace Grade Fasteners
- Non-Threaded Fasteners
Global Industrial Fasteners Market by Commodity
- Bolts
- Nuts
- Screws
- Others
Global Industrial Fasteners Market by Application
- Aerospace
- Automotive
- Industrial Machinery
- Building & Construction
- Lawns & Gardens
- Home Appliances
- Furniture
- Motors & Pumps
- Plumbing Products
- Others
Global Industrial Fasteners Market by Region
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- North America
- United States of America
- Canada
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
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The global Industrial Fasteners Market research report, published by Value Market Research, is designed to offer various market framework such as market size, portion, trends, growth path, value and factors that impact the current market dynamics over the forecast period 2021-2027.
Most importantly, this report also provides the latest significant strategies adopted by major players along with their market share.The report also covers detailed competitive landscape including company profiles of key players operating in the global market.
The key players in the industrial fasteners market includes Acument Global Technologies, Inc., Arconic Fastening Systems and Rings, ATF, Inc., Birmingham Fastener and Supply, Inc., Dokka Fasteners A S, Hilti Corporation, LISI Group - Link Solutions for Industry, MW Industries, Inc., Nippon Industrial Fasteners Company (Nifco), SESCO Industries, Inc., and others.
An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.Get more information on "Global Industrial Fasteners Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/industrial-fasteners-market/download-sampleMarket DynamicsThe increasing automobile production across the globe coupled with the growing use of fasteners in such industry is propelling the market growth of industrial fasteners.
In addition to this, rapid development in the building and construction industry is further fueling the market demand.
On the other hand, availability of substitutes such as adhesives and tapes in bonding, especially in automotive could restrain the market growth.This detailed market study is centered on the data obtained from multiple sources and is analyzed using numerous tools including porter’s five forces analysis, market attractiveness analysis and value chain analysis.
