Global Automotive Fasteners Market By Material Type (Iron, Nickel, Brass, Stainless Steel, Aluminum, Plastic), By Application (Passenger Car, Commercial Vehicle) And By Region – Global Forecast To 2028

Market.us announces publication of its most recently generated research report titled, “Global Automotive Fasteners Market by Material Type (Iron, Nickel, Brass, Stainless Steel, Aluminum, Plastic), By Application (Passenger Car, Commercial Vehicle) and by Region – Global Forecast to 2028”, which offers a holistic view of the Global Automotive Fasteners Market through systematic segmentation that covers every aspect of the target market.

The Global Automotive Fasteners Market is projected to be US$ 20,708.3 Mn in 2019 to reach US$ 29,400.7 Mn by 2029 at a CAGR of 3.6%.

Automotive fasteners are mechanical components used in vehicle and automotive assembly. Automotive fasteners join or connect multiple parts of the vehicle. Automotive fasteners include screws, bolts, nuts, rivets, washers, inserts, concrete anchors, retaining rings, and threaded rods used exclusively for automotive manufacturing. Automotive fasteners hold various vehicle parts together and prevent separation, transmitting loads, wobbling, and leakage from joints. The automotive fasteners are made of various materials such as iron, nickel, brass, stainless steel, aluminum, and plastic. They are also available in various shapes, designs, and sizes and also can be customized as per need. Automotive fasteners play an essential role in the improvement of vehicle performance.

Request Covid - 19 Impact

Global automotive fasteners market is expected to increase moderately, owing to the increasing demand for automotive fasteners from the growing automotive industry worldwide. The increasing research and development activities by major manufacturers for the development of innovative materials to increase strength and lower the overall weight of automotive fasteners is expected to bolster growth of the market. Increasing preference towards plastic fasteners over metal ones due to advantages and benefits such as improved design and lightweight, corrosion resistance characteristics, rising usage for automotive interior applications is expected to propel growth of the overall target market

Global Automotive Fasteners Market Revenue (US$ Mn), 2019–2029 

Global car material is currently witnessing steady growth, especially in developed countries in regions such as North America and Europe. However, markets in developing countries in the Asia Pacific are expected to witness high revenue growth rates in the coming years. Well-developed automotive sector and increasing R&D activities by major manufacturers for the development of innovative materials to increase strength and lower the overall weight of automotive fasteners is expected to bolster growth of the market. In addition, growing Material optimization for different automotive applications is also expected to increase support growth of the target market. Increasing preference towards plastic fasteners over metal ones due to advantages and benefits such as improved design and lightweight, corrosion resistance characteristics, rising usage for automotive interior applications is expected to propel growth of the overall target market over the forecast period

However, low impact resistance and mechanical strength properties offered by these Materials limits it to only light- and medium-duty applications. In addition, different types of plastics have various shortcomings

Global Automotive Fasteners market is segmented on the basis of material type, application, and region. On the basis of material type, the market is segmented into Iron, Nickel, Brass, Stainless Steel, Aluminum, Plastic. Among material type, the stainless steel segment is accounted for significant share revenue. On the basis of application, the market is segmented into Passenger Car, Commercial Vehicle. The Passenger Car segment accounts for a majority share in the Global Automotive Fasteners market.

Global Automotive Fasteners Market Attractiveness Index by Material Type, 2019

On the basis of region, the market is segmented into North America, Europe, APAC, South America and MEA. The APAC accounts for the majority share in the global Automotive Fasteners market, owing to growing the automobile sector in these regions

The research report on the Global Automotive Fasteners Market includes profiles of some of major companies such as Illinois Tool Works Inc., Stanley Black & Decker, Sundram Fasteners Limited, Trifast plc, Shanghai Prime Machinery Co., Ltd, Rocknel Fastener, Inc, Penn Engineering & Manufacturing, Bulten AB, THE PHILLIPS SCREW COMPANY, Berkshire Hathaway, Inc.

Key Market Segments:

Type

• Iron
• Nickel
• Brass
• Stainless Steel
• Aluminum
• Plastic

Application

• Passenger Car
• Commercial Vehicle

Key Market Players included in the report:

• Illinois Tool Works Inc.
• Stanley Black & Decker
• Sundram Fasteners Limited
• Trifast plc
• Shanghai Prime Machinery Co.Ltd
• Rocknel Fastener Inc.
• Penn Engineering & Manufacturing
• Bulten AB
• THE PHILLIPS SCREW COMPANY
• Berkshire Hathaway Inc.

For the Automotive Fasteners Market research study, the following years have been considered to estimate the market size: