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Global Market for Automotive Fasteners

Global Market for Automotive Fasteners

Global Market for Automotive Fasteners

Dublin, June 16, 2023 (GLOBE NEWSWIRE) — The “Automotive Fasteners: Global Strategic Business Report” report has been added to ResearchAndMarkets.com’s offering.

The global market for Automotive Fasteners estimated at US$16.6 Billion in the year 2022, is projected to reach a revised size of US$24.4 Billion by 2030, growing at a CAGR of 4.9% over the analysis period 2022-2030.

Removable, one of the segments analyzed in the report, is projected to record a 5.4% CAGR and reach US$14.8 Billion by the end of the analysis period.

Taking into account the ongoing post pandemic recovery, growth in the Permanent segment is readjusted to a revised 4.4% CAGR for the next 8-year period.

The U.S. Market is Estimated at $2.8 Billion, While China is Forecast to Grow at 7.3% CAGR

The Automotive Fasteners market in the U.S. is estimated at US$2.8 Billion in the year 2022. China, the world’s second largest economy, is forecast to reach a projected market size of US$6.3 Billion by the year 2030 trailing a CAGR of 7.3% over the analysis period 2022 to 2030.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.8% and 3.7% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 3.4% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$4.5 Billion by the year 2030.

Select Competitors (Total 117 Featured) –

  • ARaymond

  • Acument Global Technologies

  • Illinois Tool Works, Inc.

  • Koninklijke Nedschroef Holding N.V.

  • LISI Automotive

  • NIFCO, Inc.

  • Penn Engineering

  • Phillips Screw Company

  • Rocknel Fastener, Inc.

  • STANLEY Engineered Fastening

  • TR Fastenings Ltd.

  • Westfield Fasteners Limited;

Key Attributes:

Report Attribute

Details

No. of Pages

606

Forecast Period

2022 – 2030

Estimated Market Value (USD) in 2022

$16.6 Billion

Forecasted Market Value (USD) by 2030

$24.4 Billion

Compound Annual Growth Rate

4.9%

Regions Covered

Global

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

  • The Race Between the Virus & Vaccines Intensifies. Amidst this Chaotic Battle, Where is the World Economy Headed?

  • Progress on Vaccinations: Why Should Businesses Care?

  • With IMF’s Upward Revision of Global GDP Forecasts, Most Companies are Bullish about an Economic Comeback Despite a Continuing Pandemic

  • A Strong Yet Exceedingly Patchy & Uncertain Recovery Shaped by New Variants Comes Into Play: World Economic Growth Projections (Real GDP, Annual % Change) for 2020 through 2022

  • Easing Unemployment Levels in 2021 Although Moderate Will Infuse Hope for Industries Reliant on Consumer Discretionary Incomes: Global Number of Unemployed People (In Million) for Years 2019, 2020, 2021, and 2022

  • Industrial Activity Remains Subdued in 2020 with Strong Hopes of Long Term Recovery

  • Global PMI Index Points for the Years 2018, 2019 & 2020

  • Onset of COVID-19 Brings Automotive Fasteners Industry to a Screeching Halt

  • Automotive Fastener Manufacturers Face the Pandemic Music

  • Automotive Fasteners – Global Key Competitors Percentage Market Share in 2022 (E)

  • Competitive Market Presence – Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)

  • An Introduction to Automotive Fasteners

  • Mechanical Automotive Fasteners

  • Segmental Overview

  • Fastener Finishing

  • Fasteners: “Holding the Automotive Industry Together”

  • Structure of the World Automotive Fasteners Market: Percentage Breakdown of Value Sales of Fasteners by Type – Bolts, Nuts, Washers and Others

  • Ubiquity of Fasteners in Automobile Design: A Review

  • Unmasking the Deceptive Simplicity of Fasteners

  • Modular Manufacturing & Production Platforms: The Cornerstone of Fastener Demand

  • Global Market Prospects & Outlook

  • Dynamic Elements with Potential to Amplify Outlook of Automotive Fasteners Market

  • Asia-Pacific, the Largest Auto Production Hub, Dominates the Global Market

  • With About 55% Share in World Production of Automobiles, Asia-Pacific Ranks as a Massive Market for Automotive Fasteners: Percentage Breakdown of Volume Production of Automobiles by Geographic Region for the Years 2017 & 2020

  • Competitive Scenario: Players Target Diverse Spectrum of Strategies to Stay Competitive

  • Recent Market Activity

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

  • Thriving Trends Taking Automotive Fasteners Market to the Next Level

  • Rise in Vehicle Recalls Due to Fastener Failure Fuels Emphasis on Quality

  • Fastener Failures & Vehicle Recalls Create Pressing Need for Quality-Oriented Initiatives

  • OEM Migration from Standard Parts to Customized Parts Drives the Importance of Customized Fasteners

  • Changing Automotive Manufacturing Trends Impact Opportunities for Fasteners

  • Automotive Lightweighting Forces Smarter & Tougher Fastener Innovations

  • Massive Engineering Interest in Lightweighting, as Measured by the Robust Demand for Automotive Lightweight Materials, Catalyzes Fastener Material & Design Innovations: Global Automotive Lightweight Materials Market (In US$ Billion) for Years 2022, 2024 & 2026

  • Lightweighting Benefits Spur the Commercial Value of Self-Tapping, Self Locking & Self Sealing Fasteners

  • Growing Shift Towards Lightweight Materials in Automobile Construction Spurs Development of Self-Tapping & Self-Locking Fasteners: % Breakdown of Automotive Materials Used by Type for the Years 2017 & 2030

  • Anticipated STable Automobile Production to Fuel Growth Opportunities in the OEM Market

  • World Automobile Production in Million Units: 2008-2022

  • Global Production Capacity of the Automobile Industry (In Million Units) by Region for the Years 2017 and 2022

  • Nearshoring Trend Positions Brazil & Mexico as a Strong Production Centers for CVs

  • An Inevitable Rebound in Market Prospects to Encourage Growth in Sales of Fasteners: Global Commercial Vehicle Sales (In 000 Units) for Years 2018, 2020, 2022, 2024 & 2026

  • How the Automotive Industry was Impacted by the Pandemic & What’s the New Normal?

  • Car Production YoY % Growth in 2020 Across Major Regional Markets

  • Global Automotive Market Reset & Trajectory – Growth Outlook (In %) For Years 2019 Through 2025

  • Unprecedented Disruptions in the Supply Chain Triggered by COVID-19 Accelerates the Urgency to Rethink Supply Chain Management

  • Unprecedented Losses Sustained in the Supply Chain Pushes Up the Focus on Resilience & Supply Chain Reinvention: Global Losses in Supply Chain as a % of Earnings Before Interest, Taxes, Depreciation & Amortization (EBITDA) in the Year 2020

  • How Are OEMs Responding?

  • Automotive Fasteners Take Charge to Handle Thrilling Ride of Electric Vehicles

  • Rising Passenger Car Density & Aging Vehicles Spur Opportunities in the Repair & Maintenance Services Sector

  • Average Age of Light Vehicles (Car & Light Commercial Vehicles) in the US for Years 2010, 2018 and 2022E

  • Tough Emission Control Regulations to Benefit Automotive Fasteners

  • Transportation is the Biggest Contributor to GHG Emissions: Global CO2 Emissions (In Billion Metric Tons) for the Year 2021

  • Demographic Trends Create Fertile Environment for Long-Term Growth of Automobile Market

  • Urban Sprawl

  • World Urban Population in Millions: 1950-2050

  • Degree of Urbanization Worldwide: Urban Population as a % of Total Population by Geographic Region for the Years 1950, 1970, 1990, 2018, 2030 and 2050

  • Growing Affluence of Middle Class Population

  • Global Middle Class Population (In Million) by Region for the Years 2020, 2025 and 2030

  • Global Middle Class Spending (US$ Trillion) by Region for the Years 2020, 2025, 2030

  • Large Base of Millennials

  • Global Millennials Population Spread by Region (in %): 2021E

  • Millennial Population as a Percentage (%) of Total Population in Developing Countries: 2021E

  • Rising Living Standards

  • Shape Memory Fasteners: The Future of Automotive Assembling

  • Metal Fasteners Continue to Reign

  • Plastic Fasteners Grow in Popularity

  • Acceptance of Adhesive Fasteners Casts a Long Shadow of Threat Over Mechanical Fasteners

  • Remote Fastening Technology: The Focus Area for Future R&D

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETITION

For more information about this report visit https://www.researchandmarkets.com/r/25i0p2

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