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.
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownload.asp?id=10053940
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).
Speak to Analyst to know more about Automotive Fastener Market:
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Company Name: MarketsandMarkets
Contact Person: Mr. Shelly Singh
Email: Send Email
Address:630 Dundee Road Suite 430
Country: United States