Automotive Fastener Market: Key Highlights
Automotive Fastener Market: Key Market Dynamics
Automotive Fastener Market: Regional Overview
The growth in the Asia-Pacific region is attributed to the highest production and sales of automobiles and the adoption of premium and smart vehicles, that will penetrate the high usage of the automotive fastener. The government regulations for lightweight vehicles have led to advancements in technology for manufacturing lightweight and durable products in this region. A prominent country like China holds the largest automobile share in this region which is expected to boost the growth for the automotive Fastener market.
In Europe, the increasing vehicle production, technological advancements, and customers’ preference towards SUVs and premium vehicles have resulted in the boost for automotive fastener market growth. Moreover, Germany, UK, and France hold the major share for automobile production which indirectly propels the automotive fastener market growth in this region.
Automotive Fastener Market: Key Players Overview
Bulten AB company manufactures fastener in the European automotive industry. The company's product range includes customer-specific standard products to specialists and customized fasteners. In December 2019, the company acquired PSM International Holdings Limited which manufactures, develops and supplies fasteners to the automotive industry. This was the company’s strategy to strengthen its position in the international fastener market.
Stanley Black & Decker, Inc. is a US-based company that manufactures industrial tools, healthcare solutions, mechanical access, and electronic security solutions, engineered fastening systems, and more. In January 2018, the company announced plans to purchase Nelson Fastener Systems, a manufacturer of fasteners excluding its stud welding business for approximately USD 400 million.
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