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(Transportation-News.com, February 22, 2019 )
As per the latest market intelligence report published by Stratview Research, the Automotive fasteners market is anticipated to grow at 3.2% CAGR by 2024.
The research studies Automotive fasteners market in the trend period of 2013 to 2018 and forecasted period of 2019 to 2024 under nine segments by Product Type (Threaded Fastener and Non-Threaded Fastener), by Characteristic Type (Removable Fastener, Permanent Fastener, and Semi-Permanent Fastener), by Fastener Type (Bolts, Screws, Nuts, Rivets, and Others), by Material Type (Stainless Steel, Plastic, Aluminum, Iron, Bronze, Brass, and Nickel), by Coating Type (Zinc Coating, Passive Coating, Cadmium Coating, and Dry Film Lube Coating), by Vehicle Type (Passenger Car, Light Commercial Vehicle, and Medium & Heavy Commercial Vehicle), by Application Type (Engine, Chassis, Interior Trim, Front/Rear Axle, Steering, Transmission, and Other), by End-User Type (OEM and Aftermarket), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2019-2024
The study finds –
• Asia-Pacific currently dominates the automotive fasteners market and is expected to maintain its leading position during the forecast period as well. China, Japan, South Korea, and India are the growth engines of the region.
• The passenger car segment is expected to remain the largest segment during the forecast period, propelled by a large production of passenger across the world.
• Removable fasteners lead the fasteners market in the automotive industry and are expected to maintain its leading position in the foreseen future
• Interior trim is expected to be the fastest-growing segment, based on application type , during the forecast period. Increasing focus towards the fuel efficiency enhancement has led to a greater adoption of lightweight materials, such as plastics and aluminum.
Click here to read the detailed description: https://www.stratviewresearch.com/439/Automotive-Fastener-Market.html
Go through the TOC: https://www.stratviewresearch.com/toc/439/Automotive-Fastener-Market.html
The Automotive Fastener Market: Highlights
Fasteners are used in a wide array of applications out of whcih the automotive industry is undoubtedly one of the largest segments. The market for fasteners in the automotive industry seems resilient and is likely to witness a healthy CAGR of 3.2% during the forecast period. Increasing automobile production across regions, especially in Asia-Pacific and Eastern Europe and increasing demand for electric and alternative powertrain vehicles are the major driving factors of the fasteners market in the automotive industry.
Apart from the organic growth of automobile production, there are several other factors contributing to the growth of the fasteners market in the automotive industry. One of the key factors is the introduction of stringent regulations, such as CAFÉ Standards and EU’s Carbon Emission Reduction Targets, which are compelling automakers to incorporate lightweight materials in order to enhance the fuel efficiency. Fastener companies could not get escaped from this and started facing enormous pressure for reducing the weight of fasteners. They are unraveling the challenges by developing lightweight plastic and aluminum fasteners for a wide array of auto applications.
Stratview Research
Ritesh Gandecha
+1-313-307-4176
sales@stratviewresearch.com
Source: EmailWire.Com 
Source: EmailWire.com
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