Automotive Fastener Market - By Product (Threaded, Non-threaded), By Materials (Steel, Plastics), By Characteristic (Permanent, Non-permanent), By Distribution (Automotive OEM, Aftermarket), By Application & Forecast, 2022-2028

Industry Trends

Automotive Fastener Market size exceeded USD 14.81 billion in 2021 and is set to grow at over 5.9% CAGR from 2022 to 2028.
 

Non-threaded automotive fastener will show positive growth through 2028. These fasteners help in distributing loads evenly onto the bearing surface and are found in different thicknesses, materials & sizes, depending upon the requirement. Non-threaded automotive fastener provides force distribution and vibration absorption. Besides this, non-threaded fastener reduces cost and save time.
 

To get more details on this report: Request Free Sample PDF
 

The growing demand for electric vehicles is a factor favoring the automotive fastener market growth. Fasteners are not only needed in electric vehicles but also in charging units, battery casings, and general infrastructural equipment. A rise in requirement for low emission commuting together with the government supporting zero emissions, long-range vehicles via tax rebates, and subsidies have propelled players to provide electric vehicles globally. Automotive fasteners play a major role in terms of new & specific applications, surrounding electrification and unique technical requirements.
 

The growing automobile industry and the essential significance of fastener in different vehicles are key aspects of the market. In addition to this, mechanical advancements, sturdiness of fastener, and enhancement in quality are boosting market elements. The ease of replacing fastener from vehicles enables the end-users to acquire fastener for their vehicles. Moreover, the heightening demand for lightweight vehicles and the demand’s stability will shift inclination toward automotive fastener compared to welding.
 

Non-permanent fastener to garner huge revenue share

To get more details on this report: Request Free Sample PDF
 

The automotive fastener market size from non-permanent fastener segment is slated to witness 6% gains till 2028. Non-permanent automotive fastener, such as screws and bolts, find application in vehicles as they allow the parts to be disassembled and re-assembled as & when required. These fasteners are mainly used for connecting two components which can be removed, and the separated pieces come out without suffering any damage.
 

Automotive OEM to hold significant share

The automotive OEM segment is poised to reach USD 9.5 billion by 2028, holding 45% of the market share. Consumers seeking to replace their damaged vehicle components purchase fastener from automotive OEMs to ensure that the replaced fastener are fully compatible with the vehicle and are manufactured with the same quality standards.
 

Light commercial vehicle segment to be the swiftest growing application

To get more details on this report: Request Free Sample PDF
 

Light commercial vehicles segment is predicted to generate a revenue of about USD 4 billion by 2028. Developments in the automotive industry and incrementing industrial activities will accelerate the demand for light commercial vehicles. A rise in e-commerce activities and third-party logistics will augment the market for light commercial vehicles as they are highly suitable for last-mile deliveries.
 

Asia Pacific is assessed to be the key regional market

The Asia Pacific automotive fastener market demand is likely to account for 3 million tons by 2028. The region will dominate the global automotive market owing to the surging production of vehicles and increasing aftermarket sales of the fastener Japan, China, and India have a stronghold in the industry led by the existence of automobile giants such as Mahindra & Mahindra, Toyota, Suzuki, Isuzu, Dongfeng, TATA Motors, and SAIC Motor. Furthermore, advancing government guidelines in terms of vehicle weight reduction have led to technological developments in the manufacture of durable and lightweight components in the region.
 

The industry is largely fragmented into several prominent & small manufacturers including Kamax Group, Fontana, Agrati, Sundram Fastener Limited, Shanghai Prime Machinery Company Limited, SFS Group AG, Illinois Tool Works Inc., Bulten AB, KOVA Fastener, Meidoh Co., Ltd., Sterling Tools Limited, Changshu City Standard Parts Factory, and Westfield Fastener Limited. Companies are shifting their preferences from standard to customized components that are expected to bolster customized fastener market revenue.
 

This market research report on automotive fastener includes in-depth coverage of the industry with estimates & forecast in terms of volume in kilo tons and revenue in USD million from 2018 to 2028 for the following segments:

Click here to Buy Section of this Report

Market, By Product

• Threaded
• Non-threaded

Market, By Materials

• Steel
• Plastic
• Others

Market, By Characteristic

• Permanent
• Non-permanent

Market, By Distribution

• Automotive OEM
• Aftermarket

Market, By Application

• Passenger Car (PC)
• Light Commercial Vehicle (LCV)
• Heavy Commercial Vehicle (HCV)

The above information is provided on a regional and country basis for the following:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Netherlands
• Asia Pacific
  • China
  • India
  • Japan
  • Indonesia
  • Thailand
  • South Korea
• Latin America (LATAM)
  • Brazil
  • Mexico
• Middle East & Africa (MEA)
  • Saudi Arabia
  • UAE
  • Kuwait
  • South Africa