Automotive Fastener Market to offer profitable growth during 2019-24 with a healthy CAGR of 3.2%
February 20, 2020
Automotive Fastener Market Overview:
Fasteners are used in a wide array of applications out of which the automotive industry is undoubtedly one of the largest segments. The market for fasteners in the automotive industry seems resilient and 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.
The Dievrse Stand Points:
The true picture of the market shall not emerge till the time the market is analysed from various point of views. Each vantage point give better understanding of the market. The market of Automotive Fastener has been view from various perspectives such as:
- By Product Type (Threaded Fastener, Non-Threaded Fastener)
- By Characteristic Type (Removable Fastener, Permanent Fastener, Semi-Permanent Fastener)
- By Fastener Type (Bolts, Screws, Nuts, Rivets, Others)
- By Material Type (Stainless Steel Fasteners, Plastic Fasteners, Aluminum Fasteners, Iron Fasteners, Bronze Fasteners, Brass Fasteners, Nickel Fasteners)
- By Coating Type (Zinc Coating, Passive Coating, Cadmium Coating, Dry Film Lube Coating, Others)
- By Vehicle Type (Passenger Car, Light-Duty Commercial Vehicle, Medium- and Heavy-Duty Commercial Vehicle)
- By Application Type (Engine, Chassis, Interior Trim, Front/Rear Axle, Steering, Transmission, Other)
- By End User Type (OE, Aftermarket)
- By Region (North America, Europe, Asia-Pacific, and RoW)
Each view helps us answer a prominent question, and we bring out the best market intelligence which is of interest to each and every player in the market, no matter where he lies in the value chain.
The answers to the prominent questions which are evinced out of above slicing of the market are:
- Which are the best performing segments of the market?
- Which is the most dominant region?
- Who are the movers and shakers of the market?
- What are the regional growth hotspots?
- What are the segmental growth forecasts?
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Automotive Fastener Market Segment Insights:
Passenger Car: The growth engine
Based on the vehicle type, the market is segmented into passenger car, light commercial vehicle, and medium & heavy commercial vehicle. The passenger car segment is expected to remain the largest segment during the forecast period, propelled by a large production of passenger across the world. Increasing disposable income coupled with improving lifestyle, especially in emerging economies, such as China and India, are leading to a greater appetite of customers to buy passenger cars. In passenger car segment, hatchbacks and SUVs are creating a greater demand for fasteners.
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https://www.stratviewresearch.com/toc/439/Automotive-Fastener-Market.html
Dominance of: Interior Trim Application
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 towards the fuel efficiency enhancement has led to a greater adoption of lightweight materials, such as plastics and aluminum. The 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.
A highly/moderately/fragment consolidated Market
Some of the major automotive fastener manufacturers 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, and Boltun Corporation. The development of lightweight fasteners and proximity to major clients are some of the major strategies of the key players in order to remain competitive in the market
Regional Hegemony of Asia-Pacific
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.
Europe and North America, other major markets, are also likely to generate a healthy demand for fasteners in the coming five years. Germany, France, and the UK are the major markets in Europe, whereas the USA and Mexico are the major markets in North America. Stringent regulations regarding the fuel efficiency enhancements and the carbon emission reductions are also impacting the market dynamics of fasteners as there has been a greater demand for plastic fasteners in order to help automakers to further reduce the overall gross vehicle weight of the vehicle.
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Salient Features of the Report
The Research Report offers an in-depth view of the market, its health and growth, the factors shaping the industry, the competitive dynamics and a glimpse of the future.
The following are the key features of the report:
- Strategic segmentation
- Market analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Detailed Competitive Rivalry landscaping
- Market trend and forecast analysis
- Future Growth Boulevards
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