AUTOMOTIVE FASTENER MARKET: Summary
The Global Automotive Fastener Market is projected to reach around USD 32.5 billion by 2027 at a CAGR of around 4.4%.
A fastener is a mechanical device that is used to join or hold two or more objects and parts in the vehicle. The main function is to avoid separation and to connect the vehicle parts and prevent leakage. Materials such as stainless steel, iron, aluminum, brass, nickel, plastic, and others are used to make automotive fasteners. They are classified into three categories such as permanent, semi-permanent and non-permanent fasteners. To improve the corrosion resistance for metal fasteners and leakage in joints, variety of coatings are used such as cadmium, zinc, chromate, bluing, and phosphate.
AUTOMOTIVE FASTENER MARKET: Drivers & Restraint
- Rise in Demand of Electronic Systems
Electrification is growing in the automotive industry as manufacturers are focusing more on developing innovative solutions which provide better connectivity solution. The rise in demand for electric and autonomous vehicles has boosted the demand for electronic systems which needs a vast set of fasteners for qualitative manufacturing. Fasteners play an important role in electric vehicles (EV) as they are used in EV battery casing, charging units, infrastructure equipment, in-car entertainment systems, and others.
Thus, the rise in demand for electronic systems is expected to drive the automotive fastener market growth during the forecast period.
- Increasing Demand for Lightweight Vehicles
Automotive manufacturers are focusing on designing small and compact engines that will result in an overall weight reduction of vehicles and will also help to reduce CO2 emission and increase fuel efficiency. This provides an opportunity for fastener manufacturers to develop complex, specially engineered fasteners, and fasteners made from materials such as aluminum and magnesium which are lighter and can maintain the performance and quality under high heat levels.
Thus, increasing demand for lightweight vehicles is anticipated to boost the market growth during the forecast period.
- Use of Adhesives as an Alternative for Mechanical Fastener
Adhesive fastener is replacing the traditional methods used such as bolts, nuts, rivets, welds, screws and other mechanical fasteners for joining parts in the vehicle. Using adhesive fastener benefits manufacturers in a reduction of assembly time needed by labor reduces material and production cost. Additionally, it provides easy disassembling of parts. For instance, the BONDMASTER company has designed a line of structural bonding adhesives that can replace rivets, screws, and welding. Materials like stainless steel, aluminum, copper, brass as well as combinations of metals and other substrates, including glass and plastics can be bonded with these adhesives.
Thus, the use of adhesives as an alternative for mechanical fasteners is a restraining factor for automotive Fastener market growth during the forecast period.
Automotive Fastener market: Key segments
- Based on Product Type: Threaded Fastener and Non-Threaded Fastener.
- Based on Fastener Type: Nuts, Bolts & Screws, Washers, Rivets, Concrete Anchors, Inserts, Threaded Rod, Retaining Rings and Others.
- Based on Material: Stainless Steel, Aluminum, Iron, Nickel, Brass, Bronze, Plastic and Others.
- Based on Classification: Permanent Fastener, Semi-Permanent Fastener and Non-Permanent Fastener.
- Based on Application: Engine, Chassis, Interior Trim, Steering, Automotive Electronics, Front/Rear Axle, Transmission, and Others.
- Based on Region Covers: North America, South America, Europe, Asia-Pacific, Middle East & Africa and South America, with individual country-level analysis.
Automotive Fastener MARKET: Report SCOPE
The report on the automotive Fastener market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
Historical/Estimated/Forecasted Market Size Years
Base Year for Market Calculation
2020-2027 (2020 estimated year, forecasted up to 2027)
Value (USD Million), Volume (Units)
Product Type, Fastener Type, Material, Classification, and Application
North America, Asia-Pacific, Europe, Middle East & Africa, South Africa
KEY Companies Covered
- THE PHILLIPS SCREW COMPANY (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
- Shanghai Prime Machinery Co.,Ltd.
- Bulten AB
- Stanley Black & Decker, Inc.
- SFS Group
- MEIDOH Co.,LTD.
- Sundram Fasteners Limited
- Adolf Würth GmbH & Co. KG
- Westfield Fasteners Limited
- Fontana Finanziaria S.p.A.,
- Other Key Companies
Automotive Fastener MARKET: report segmentation
For the scope of the report, In-depth segmentation is offered by Forencis Research
Automotive Fastener Market, by Product Type
- Threaded Fastener
- Non-Threaded Fastener
Automotive Fastener Market, by Fastener Type
- Bolts & Screws
- Concrete Anchors
- Threaded Rod
- Retaining Rings
Automotive Fastener Market, by Material
- Stainless Steel
Automotive Fastener Market, by Classification
- Permanent Fastener
- Semi-Permanent Fastener
- Non-Permanent Fastener
Automotive Fastener Market, by Application
- Interior Trim
- Automotive Electronics
- Front/Rear Axle
Automotive Fastener Market, by Region
- North America
- South Korea
- Rest of Asia-Pacific
- Rest of Europe
- Middle East & Africa
- Saudi Arabia
- Rest of Middle East & Africa
- South America
- Rest of South America
Key Questions answered by the report
- What are the prominent developments affecting the market globally and its growth?
- What will be the impact of the developments in the market on the industry and the market players in the future?
- What are the evolving variations of the market worldwide?
- What are the evolving functions of the market globally?
- What are the prominent aspects that will affect market growth globally during the study period?
- Who are the key players operating in the market across the world?
- How are the key players leveraging in the present market scenario globally?
- Automotive Fastener Market Providers
- Automotive Fastener Market Solution and Services Suppliers, Distributors and Dealers
- End-Users of Varied Segments of Automotive Fastener Market
- Government Bodies and Intellectual Institutions
- Associations and Industrial Organizations
- Research & Consulting Service Providers
- Research & Development Organizations
- Investment Banks & Private Equity Firms
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE AUTOMOTIVE FASTENER MARKET STUDY