Automotive Fastener Market Size By Product (Threaded [Nuts, Bolts, Washers], Non-Threaded), By Materials (Steel, Plastics), By Characteristic (Permanent, Non-Permanent), By Distribution (Automotive OEM, Aftermarket), By Application (Passenger Car, Light Commercial Vehicle, Heavy Commercial Vehicle) Industry Analysis Report, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026

Published Date: Apr 2020  |  Report ID: GMI1989  |  Authors: Kiran Pulidindi, Sayan Mukherjee

Report Format: PDF   |   Pages: 350   |   Base Year: 2019




Summary Table of Contents Industry Coverage Methodology

Industry Trends

Automotive Fastener Market size exceeded USD 21 billion in 2019 and is anticipated to witness over 4.4% CAGR between 2020 and 2026. The prospering automobile industry and essential significance of fasteners in various vehicles will drive the market growth.
 

Furthermore, mechanical advancements and enhancement in quality and sturdiness of fasteners is another element boosting the market demand. The ease of replacing fasteners from vehicles makes it much more helpful for the end use buyers to obtain fasteners for their vehicles. Moreover, the surging demand for reduced weight of vehicles and its stability will boost inclination towards automotive fasteners over welding, creating growth opportunities for the market.
 

Automotive Fastener Market

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However, the fall in global automobile industry since 2018 may prove to be a hindering factor in the growth of the automotive fastener market. Also, the spread of COVID-19 has affected the global economy negatively, which would directly affect the market in near future.
 

Automotive Fastener Market Report Coverage
Report Coverage Details
Base Year: 2019 Market Size in 2019: 5.5 Million tons
Historical Data for: 2016 to 2019 Forecast Period: 2020 to 2026
Forecast Period 2020 to 2026 CAGR: 4.4% 2026 Value Projection: 5.2 Million tons
Pages: 350 Tables, Charts & Figures: 400
Geographies covered (24): U.S., Canada, Germany, UK, France, Italy, The Netherlands, China, India, Japan, South Korea, Thailand, Indonesia, Brazil, Mexico, South Africa, Saudi Arabia, UAE, Kuwait
Segments covered: Product, Materials, Characteristic, Distribution, Applications
Companies covered (19): Kamax Group, Fontana, Agrati, Sundram Fasteners Limited, Shanghai Prime Machinery Company Limited, SFS Group AG, Illinois Tool Works Inc., Bulten AB, KOVA Fasteners, Meidoh Co. Ltd., Sterling Tools Limited, Changshu City Standard Parts Factory, Westfield Fasteners Limited
Growth Drivers:
  • Growing adoption of lightweight automotive materials to reduce vehicle weight
  • Ease of availability for raw materials
  • Increasing product manufacturing operations in China to cater the global demand
  • Increasing product demand from numerous automotive manufacturers in Europe
Pitfalls & Challenges:
  • Dip in the automotive industry in the recent period may effect product consumption
  • Spread of COVID-19 will have a negative impact on the global economy

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Threaded fasteners are set to heavily dominate the market outlook

The threaded fastener segment was responsible for over 80% of the market share in 2019, and the dominance is likely to continue till 2026. Threaded fasteners are distinct piece of hardware which contains external or internal linings normally termed as threads. These find extensive applications in the assembly and disassembly of multiple parts and components of any vehicle.
 

The most usual kind of these fasteners are nuts, washers and bolts. Among these, nuts will be the fastest growing threaded fasteners registering a growth of around 5% through 2026. Nuts are used in vehicle conjunctions in combination with bolts and sometimes with washers to fasten several parts collectively. These fasteners stay and adjoin together by grouping of their inner linings.
 

Steel fasteners will accommodate the majority share among other materials

Global automotive fastener market by materials

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Steel fasteners recorded a market share over 90% in 2019 among all the materials used to manufacture automotive fasteners. Steel is esteemed as the most popular material for fasteners owing to its high tensile strength and its resistivity from rust.
 

Almost all automobiles are exposed to altering weather conditions, where these fastener materials come in handy. Moreover, in the tropical and coastal areas where the salt content is more in its environment, corrosion resistance plays a vital part in surging the lifecycle of the vehicle.
 

Non-permanent chartered fasteners may lead the industry in near future

Non-permanent fasteners will lead the market during the projected timeframe. These fasteners pose a benefit over permanent ones in the automobile industry, since they can be removed with ease using power tools or even hand without creating any harm to the vehicle body or components.
 

Automotive OEMs will witness stable consumption in near future

OEMs in the automotive fastener market is expected to rise at a CAGR of over 4.5% from 2020 to 2026. Escalating vehicle production across the globe is one of the key aspects driving the segment demand. In addition, rising adoption for electric vehicles on account of its eco-friendly properties coupled with unceasing backing from the government bodies to support the ecosystem are further fueling the market size.
 

Elevated passenger cars production across the globe will fuel product demand

The passenger car application segment dominated for more than 60% of the market revenue share in 2019. Growing consumption for lightweight automotive components, emission reduction, rising disposable income across the globe and government directives mandating fuel efficiency are the reasons stimulating the passenger car demand especially in developing nations.
 

The manufacturing of passenger cars has witnessed heavy growth in the developing countries. Most countries in North America Europe, and Asia Pacific region tend to have a huge demand for premium cars and SUVs, which would advance the consumption of passenger cars in near future.
 

Asia Pacific is projected to dominate fastener production as well as demand by 2026

Global automotive fastener market by region

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Asia Pacific is estimated to be the foremost contributor to the automotive fastener market demand, rising at a CAGR of over 5% during the forecast period. The market growth is attributed to surging production of vehicles and, increasing aftermarket sale of vehicle fasteners. Japan, China and India are booming in the market due to presence of automobile giants like Toyota, Suzuki, Mahindra & Mahindra, Isuzu, Dongfeng, SAIC Motor, and TATA Motors.
 

Additionally, the advancing government guidelines for use of reduced vehicle weight has led to the improvements in technologies for producing durable and lightweight components in the region. Moreover, the automotive manufacturers are shifting interest from standard components to customized ones that is expected to bolster the demand for customized fasteners in the APAC region.
 

The major players operating in the market are KAMAX, Fontana, Agrati Group, Bulten AB, Shanghai Prime Machinery Company, Sundram Fasteners Limited, SFS Group, IWT Inc., KOVA Fasteners, and Westfield Fasteners.
 

The market research report on automotive fasteners includes in-depth coverage of the industry, with estimates & forecast in terms of revenue in Kilo Tons and USD Million from 2016 to 2026, for the following segments:
 

Market by Product

  • Threaded
    • Nuts
    • Bolts
    • Washers
    • Others (studs, etc.)
  • Non-threaded

Market by Packaging Materials

  • Steel
  • Plastic
  • Others (aluminium, brass etc.)

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
    • The Netherlands
  • APAC
    • China
    • India
    • Japan
    • Indonesia
    • Thailand
    • South Korea
  • LATAM
    • Brazil
    • Mexico
  • MEA
    • Saudi Arabia
    • UAE
    • Kuwait
    • South Africa
       

Frequently Asked Questions (FAQ) :

Asia Pacific is estimated to be the foremost contributor to the market demand, rising at a CAGR of over 5% during the forecast period.
According to the analysts at GMI, the threaded fastener segment was responsible for over 80% of the market share in 2019, and the dominance is likely to continue till 2026.
The major players operating in the market are KAMAX, Fontana, Agrati Group, Bulten AB, Shanghai Prime Machinery Company, Sundram Fasteners Limited, SFS Group, IWT Inc., KOVA Fasteners, and Westfield Fasteners.
The non-permanent fasteners pose a benefit over permanent ones in the automobile industry, since they can be removed with ease using power tools or even hand without creating any harm to the vehicle body or components.

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Premium Report Details

  • Published Date: Apr 2020
  • Pages: 350
  • Tables: 377
  • Charts / Figures: 23
  • Companies covered: 19
  • Countries covered: 24

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