GLOBAL AUTOMOTIVE FASTENER MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024 - 2031)
Global automotive fastener market is estimated to be valued at USD 33.9 billion in 2024 and is expected to reach USD 46.88 billion by 2031, exhibiting a compound annual growth rate (CAGR) of 4.7% from 2024 to 2031.
Report Description:
Global automotive fastener market has witnessed significant growth over the past few years owing to rising automobile production around the world. Fasteners play a vital role in automobile manufacturing as these are used to join various vehicle components together. Factors such as growing demand for lightweight vehicles to improve fuel-efficiency and stringent emission regulations boosts R&D towards the development and usage of advanced fastening technologies in the automotive industry. Rising adoption of electric vehicles is also augmenting market opportunities for innovative fasteners that can withstand higher loads and vibrations. Mass production of autonomous vehicles is expected to further boost demand for high-quality automotive fasteners during the forecast period.
Market Dynamics:
The global automotive fastener market is driven by several factors, including the increasing production of automobiles worldwide, especially in emerging economies like China and India. This growth is fueled by the rising demand for lightweight vehicles, as automakers strive to meet stringent fuel-efficiency and emission regulations imposed by governments. To achieve this, manufacturers are turning to lightweight fasteners made from materials like aluminum and magnesium alloys. However, market players face challenges such as volatile raw material prices and the high costs associated with developing advanced fasteners. Despite these hurdles, the growing market for electric vehicles presents promising opportunities, as EVs require specialized fasteners capable of withstanding higher loads and vibrations. Additionally, ongoing research and development, particularly in areas like 3D printing, offer potential for innovation and advancement in fastener technology. Overall, the automotive fastener market is poised for growth, driven by the evolving needs of the automotive industry and advancements in materials and manufacturing techniques.
Key features of the study:
- This report provides in-depth analysis of the global automotive fastener market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global automotive fastener market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
- Key companies covered as a part of this study include Atotech Deutschland GmbH, Birmingham Fastener, Inc., Bulten AB, Jiangsu Xing Chang Jiang International Co., Ltd., KAMAX, KOVA Fasteners Private Limited, Lisi Group, PennEngineering, Permanent Technologies, Inc., Phillips screw company, SFS Group, Shamrock International Fasteners, Shanghai Prime Machinery Company, Shanghai Tianbao Fastener Manufacturing Co., Ltd., Stanley Black & Decker, Sundram Fasteners Limited, Westfield Fasteners Limited are the major players
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
- Global automotive fastener market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global automotive fastener market
Market Segmentation
Table of Contents
*Browse 24 market data tables and 28 figures on “Global Automotive Fastener Market” - Global forecast to 2031
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