Automotive Fastener Market Growth Opportunities and Forecast To 2026
The automotive fastener market is poised to amass considerable gains owing to rapid expansion activities in the automobile sector. Over the years, the automotive industry has observed an exponential rise in vehicle demand, fundamentally driving the requirement for fastener. Customers are increasingly demanding for vehicles with enhanced safety features.
Growing inclination towards lightweight fasteners due to rising demand for fuel-efficient vehicles may enhance business outlook over the forthcoming years. While growing demand for lightweight fasteners over welding could significantly boost the automotive fastener market size.
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Diminishing growth of the global automotive sector since 2018 could impede automotive fastener market share. Rampant spread of coronavirus has compelled various automotive companies to enforce lockdown to protect their employees. This halt in global automotive economy could negatively impact the product demand in the future.
Improvement in automotive component toughness and quality as well as mechanical enhancements could play a vital role in driving the adoption of fasteners. The ability to easily replace these clasps by users have supported the deployment of fasteners in new vehicles.
Based on materials, the automotive fastener market is bifurcated into steel, plastic, and metallic fasteners like aluminum, brass, and copper. Fastener made out of brass is very popular as it is largely used in adjoining several door clamps and engine components.
On the regional front, North America is considered to be a lucrative market for the automotive fastener manufacturers. Estimates suggest that the region is likely to cover over 15% of the global market within the projected timeframe.
This growth can be attributed to the numerous ongoing and future automotive developmental activities being conducted within the region. This would ensure healthy growth prospects to the region’s vehicle fastener market over the next few years.
In a bid to ascertain a dominant position over the vehicle fastener market, several industry players are undertaking organic growth strategies like inking merger or partnership deals, launching new products, and acquiring new assets. As of now, the automotive fastener market is being led by companies like Agrati Group, Fontana, KOVA Fasteners, KAMAX, Sundram Fasteners Limited, Bulten AB, Westfield Fasteners, Shanghai Prime Machinery Company and SFS Group, IWT Inc.
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Partial Chapter of the Table of Content
Chapter 6. Automotive fastener Market, By Characteristic
6.1. Automotive fastener industry, by characteristic insights
6.2. Permanent
6.2.1. Market estimates and forecasts, 2016 – 2026
6.2.2. Market estimates and forecasts by region, 2016 – 2026
6.3. Non-permanent
6.3.1. Market estimates and forecasts, 2016 – 2026
6.3.2. Market estimates and forecasts by region, 2016 – 2026
Chapter 7. Automotive fastener Market, By Distribution
7.1. Automotive fastener industry, by distribution insights
7.2. Automotive OEM
7.2.1. Market estimates and forecasts, 2016 – 2026
7.2.2. Market estimates and forecasts by region, 2016 – 2026
7.3. Aftermarket
7.3.1. Market estimates and forecasts, 2016 – 2026
7.3.2. Market estimates and forecasts by region, 2016 – 2026
Chapter 8. Automotive fastener Market, By Application
8.1. Automotive fastener industry, by application insights
8.2. Passenger cars
8.2.1. Market estimates and forecasts, 2016 – 2026
8.2.2. Market estimates and forecasts by region, 2016 – 2026
8.3. Light commercial vehicles
8.3.1. Market estimates and forecasts, 2016 – 2026
8.3.2. Market estimates and forecasts by region, 2016 – 2026
8.4. Heavy commercial vehicles
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