Automotive Fastener Market Promises a Maximum Growth Rate in the Upcoming Years – Report by MarketsandMarkets™

Automotive Fastener Market Promises a Maximum Growth Rate in the Upcoming Years – Report by MarketsandMarkets™ 2

The study covers all the major players in the automotive fastener market, including established players like Bulten AB (Sweden), KAMAX (Germany), Sundram Fasteners (India), Stanley Black & Decker (US), Shanghai Prime Machinery Company (China), SFS Group (Switzerland), and Lisi Group (France). These companies collectively account for a major share of the automotive fastener market. The report also lists other players like Meidoh Co. (Japan), Nipman Fasteners (India), Piolax (US), etc.
The report defines, describes, and forecasts the global Automotive Fastener Market by Characteristics, Products, Material Type, Application, Electric Vehicle Type, and Region. It also offers a detailed qualitative and quantitative analysis of the market. The report provides a comprehensive review of the major market drivers, restraints, opportunities, and challenges. It also covers various important aspects of the market.

The global automotive fasteners market is projected to grow from an estimated USD 21.45 billion in 2018 to USD 25.30 billion by 2025, at a CAGR of 2.39% during the forecast period. The growth of automotive fastener market is influenced by factors such as increasing vehicles production and sales.      

The governments of several countries have made stringent regulations for the use of basic safety products such as seatbelts and airbags. In the US and Europe, the governments have already implemented regulations related to mandatory safety features for all vehicles sold in the respective countries, which are followed by automakers. The inclusion of advanced safety features will increase the volume of fasteners required by the automotive industry. This, in turn, will create several opportunities for automotive fastener suppliers.

The Rest of World includes key conutries such as Russia and Brazil, which are estimated to be the fastest growing markets, in terms of value, for automotive fasteners. There have been huge investment activities in Brazil as it is one of the fastest developing countries in South America. Brazil has the presence of most of the large global automotive companies. There has been significant growth in total sales volume of automobiles, which is the major growth driver for the automotive fasteners market in this country.

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Semi-permanent fasteners are expected to be the fastest growing segment, by value. Wide application in automobile and a huge demand as fixtures/joints will drive the growth of semi-permanent fasteners in the coming years.

In an effort toward the weight reduction of a vehicle, automotive engine manufacturers are offering small and compact engines that are lightweight. This provides an opportunity for fastener manufacturers to supply complex, specially engineered fasteners, and fasteners for components made from exotic materials that can maintain performance under high heat levels. Also, growing electrification in the automotive industry and semi-autonomous car technology will benefit the fastener market. The global electric vehicle industry has witnessed significant growth in recent years. Government regulations for emission and fuel economy, price reduction of vehicles, and subsidies to electric vehicle manufacturers to reduce the production cost have driven the growth of the electric vehicles, which are equipped with batteries which, in turn, require a large number of fasteners.

Key Players:- Bulten AB (Sweden), KAMAX (Germany), Sundram Fasteners (India), Stanley Black & Decker (US), Shanghai Prime Machinery Company (China), SFS Group (Switzerland) and Lisi Group (France).

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