What is Global Automotive Fasteners Market?
The Global Automotive Fasteners Market is a vast and dynamic sector that plays a crucial role in the automotive industry. These fasteners are essentially hardware devices used to mechanically join or affix two or more objects together. They are used in a variety of automotive applications, including the assembly of engines, chassis, interiors, exteriors, and various other parts of a vehicle. The market for these fasteners is driven by the growing automotive industry, which is constantly in need of durable and reliable fasteners to ensure the efficient and safe functioning of vehicles. The global market value for automotive fasteners was estimated to be US$ 23170 million in 2022. This market is projected to grow at a steady compound annual growth rate (CAGR) of 2.6% from 2023 to 2029, reaching an estimated value of US$ 27790 million by the end of the forecast period.
Threaded Fasteners, Non-threaded Fasteners in the Global Automotive Fasteners Market:
The Global Automotive Fasteners Market is segmented into two main types: Threaded Fasteners and Non-threaded Fasteners. Threaded Fasteners are the most dominant segment in the market, accounting for over 80% of the total market share. These fasteners are widely used due to their superior holding power, ease of installation and removal, and adaptability to various materials and applications. They include screws, bolts, studs, and nuts, among others. Non-threaded Fasteners, on the other hand, are used when the joint may need to be frequently disassembled and reassembled without damaging the fastener or the components it is joining. They include pins, clips, and rivets, among others. The top five manufacturers in this market hold a combined market share of over 20%, indicating a relatively high level of market concentration.
Automotive OEM, Automotive Aftermarket in the Global Automotive Fasteners Market:
The Global Automotive Fasteners Market finds its applications primarily in two areas: Automotive Original Equipment Manufacturers (OEM) and Automotive Aftermarket. Automotive OEMs are companies that manufacture vehicles, and they use fasteners in the production process to assemble various parts of the vehicle. The demand for fasteners in this segment is directly proportional to the production of vehicles. The Automotive Aftermarket, on the other hand, refers to the secondary market of the automotive industry, which is involved in the manufacturing, distribution, retailing, and installation of vehicle parts, equipment, and accessories after the sale of the vehicle by the OEM. This market also requires fasteners for the repair and maintenance of vehicles. The demand in this segment is driven by the need for replacement parts due to wear and tear, accidents, and upgrades.
Global Automotive Fasteners Market Outlook:
To rephrase the market outlook for the Global Automotive Fasteners Market, it can be said that the market was valued at a significant US$ 23170 million in 2022. It is expected to witness a steady growth rate of 2.6% during the forecast period of 2023-2029, reaching a projected value of US$ 27790 million by 2029. The market is dominated by the top five manufacturers, who collectively hold a market share of over 20%. In terms of product segmentation, Threaded Fasteners emerge as the largest segment, commanding a market share of over 80%.
| Report Metric | Details |
| Report Name | Automotive Fasteners Market |
| Accounted market size in 2023 | US$ 23170 million |
| Forecasted market size in 2030 | US$ 27790 million |
| CAGR | 2.6% |
| Base Year | 2023 |
| Forecasted years | 2024 - 2030 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Consumption by Region |
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| By Company | Würth, ITW, Stanley, Araymond, KAMAX, Shanghai PMC (Nedschroef), Aoyama Seisakusho, Meidoh, Fontana, Agrati, LISI, Nifco, Topura, Meira, Böllhoff, Norma, Bulten, Precision Castparts, Chunyu, Boltun, Samjin, Sundram Fasteners, SFS, STL, Keller & Kalmbach, Piolax, EJOT, GEM-YEAR, RUIBIAO, Shenzhen AERO |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
