Automotive Fastener Market Outlook By Opportunity and Demand Analysis, Forecast 2026
Estimates claim that the North America automotive fastener market might register over 15% of the global market within the predicted timeframe. This growth can be attributed to numerous ongoing and future automotive developmental activities being conducted within the region. This would ensure healthy growth prospects of automotive fastener manufacturers over the next few years.
Factors like improvement in toughness and quality of fasteners and mechanical enhancements could play a vital role in driving the adoption of these fasteners. Besides, the ability to easily replace these clasps from vehicles make it ideal for end-user.
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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.
Growing inclination towards lightweight fasteners due to rising demand for fuel-efficient vehicles could enhance the business outlook. Increasing demand for lightweight fasteners over welding could significantly boost the automotive fastener market size. On
However, diminishing growth of the global automotive sector since 2018 could hinder the growth of automotive fastener industry. In addition to this, rampant spread of coronavirus has compelled various automotive companies to enforce lockdown to protect their employees. This halt in the global automotive economy could negatively impact the product demand in the future.
Earlier in 2019, the automotive OEMs were considered to amass a volume share of more than 45% and is expected to maintain healthy growth over the forecasted period. In terms of materials, the industry is bifurcated into steel, plastic, and other metallic fasteners such as aluminum, brass, copper etc. The other metallic fastener materials like brass are popular in the market owing to its extensive use in adjoining engine components and door clamps.
In a bid to establish a dominant position over the automotive fastener market, several industry players like Agrati Group, Fontana, KOVA Fasteners, KAMAX, Sundram Fasteners Limited, Bulten AB, Westfield Fasteners, Shanghai Prime Machinery Company, SFS Group, and IWT Inc. are undertaking diverse organic growth strategies like inking merger or partnership deals, launching new products, and acquiring new assets.
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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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