Stratview Research has added a new research report on the ‘Automotive Fastener Market’ to its database. This report covers the top regions & countries of the world and shows the Industry size, influencing factors, competition, challenges, regional development status, market shares, revenue, and strategies to enhance growth. This report provides a pre-historic and future estimate for the segment and a comprehensive overview of the global market size, growth, supply, demand, share, and key stakeholders.
Market Segments’ Analysis
According to the report, the Automotive Fastener Market is likely to witness a healthy CAGR of 3.2% during the forecast period. Increasing automobile production across regions, especially in Asia-Pacific and Eastern Europe and increasing demand for electric and alternative powertrain vehicles are the major driving factors of the fasteners market in the automotive industry.
Based on the characteristic type, the automotive fasteners market is segmented as removable fasteners, permanent fasteners, and semi-permanent fasteners. Removable fasteners lead the fasteners market in the automotive industry and are expected to maintain their leading position in the foreseen future. Removable fasteners contribute the maximum in the total number of fasteners used in an automobile as they can be conveniently removed by hand or power tools without causing any damage to the part or fastener itself.
Based on the vehicle type, the market is segmented into passenger cars, light commercial vehicles, and medium & heavy commercial vehicles. The passenger car segment is expected to remain the largest segment during the forecast period, propelled by a large production of passengers across the world. Increasing disposable income coupled with improving lifestyles, especially in emerging economies, such as China and India, are leading to a greater appetite of customers to buy passenger cars. In the passenger car segment, hatchbacks and SUVs are creating a greater demand for fasteners.
Based on the application type, the automotive fastener market is segmented as engine, chassis, interior trim, front/rear axle, steering, transmission, and others. Interior trim is expected to be the fastest-growing segment during the forecast period. Increasing focus on fuel efficiency enhancement has led to greater adoption of lightweight materials, such as plastics and aluminum. A similar trend is also being observed in the fasteners market for interior trim. All the major automakers are now focusing on plastic and aluminum fasteners, especially in interior trims, to unravel the requirement of CAFÉ Standards and EU carbon emission reduction targets.
In terms of regions, Asia-Pacific currently dominates the automotive fasteners market and is expected to maintain its leading position during the forecast period as well. China, Japan, South Korea, and India are the growth engines of the region. Increasing automobile production, especially in China and India, owing to rising population coupled with increasing disposable income, and a gradual shift of automobile manufacturing plants from the developed economies to China and India are the major factors generating a healthy demand for fasteners in the region.
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Key Players
The supply chain of this market comprises raw material manufacturers, distributors, and users. Some of the key players in the Automotive Fastener Market are-
- Illinois Tool Works Inc.
- LISI Group
- Shanghai Prime Machinery Company Limited
- Bulten AB
- Stanley Black & Decker, Inc.
- The SFS Group AG
- Meidoh Co. Ltd.
- NIPMAN Automotive Solutions
- The Würth Group
- Piolax Inc.
- Westfield Fasteners Limited
- Changshu City Standard Parts Factory
- Fontana Gruppo Srl
- Simmonds Marshall Limited
- Sterling Tools Limited
- Bollhoff
- Nedschroef Machine Industry
- Nifco Group
- Boltun Corporation.
The Automotive Fastener Market is segmented by–
- By Product Type
- By Characteristic Type
- By Fastener Type
- By Material Type
- By Coating Type
- By Vehicle Type
- By Application Type
- By End-User Type
- By Region
Why invest in this report?
The present report provides critical insights into the market dynamics and enables strategic decision-making for the existing market players as well as those wanting to enter the market. This report provides market size information to assist with planning and deciding growth strategies. It also helps the users understand market dynamics to provide a deeper insight into industry competition and the supply chain.
The following are the key features of the report:
· Market composition: Outline, industry life cycle analysis, supply chain assessment
· Market situation assessment: Growth drivers and constraints
· Upcoming market trends and forecast assessment
· Competitive landscape and dynamics: Market share, Product portfolio, New product launches, etc.
· Attractive market segments and associated growth opportunities
· Strategic growth opportunities for the existing and new players
· Key success factors.
Custom Research:
Stratview Research studies and reports on several industries across the globe. The clients rely on the information and data provided by Stratview Research to stay ahead of the pack and update themselves with the current and future trends affecting the industries. With this report on Automotive Fastener Market, Stratview research also offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to [email protected].
