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(Transportation-News.com, February 01, 2021 ) The Global Automotive Fastener Market is projected to grow from an estimated $21.45 billion in 2018 to $25.30 billion by 2025, at a CAGR of 2.39%.
Opportunities:
1. Government Mandates Related to Safety Features & Increasing Use of Electronics in Vehicle
2. Significant Developments in Powertrain Innovations
3. Growth in the Number of Semi-Autonomous Cars
4. Growth in the Electric Vehicle Industry
The study covers all the major players in the automotive fastener market, including established players such as Bulten AB (Sweden), KAMAX (Germany), Sundram Fasteners (India), Stanley Black & Decker (US), Shanghai Prime Machinery Company (China), SFS Group (Switzerland), and Lisi Group (France). These companies collectively account for a major share of the automotive fastener market. The report also comprises a few other players such as Meidoh Co. (Japan), Nipman Fasteners (India), Piolax (US), Westfield Fasteners (UK), Fontana Gruppo (Italy), Bollhoff (Germany), Nedshroef (Netherlands), Nifco Group (Japan), Boltun Corporation (Taiwan), Chanshu City Standard Parts (China), Wurth Group (Germany), and Simmonds Marshall (India).
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The Asia Pacific is estimated to be the largest market for automotive fasteners during the forecast period. The Asia Pacific automotive fastener market is estimated to be $10.43 billion in 2018 and is projected to reach $12.42 billion by 2025. The increasing production of vehicles in China, Japan, and India and the growing demand for electric vehicles, especially in China and Japan, are expected to drive the automotive fastener market in the region. North America is expected to be the second-largest market for automotive fasteners with an estimated market size of $5.57 billion in 2018.
The interior trim segment is estimated to be the fastest-growing segment of the fastener market, by application, in terms of value. Automobile manufacturers are now focusing on using lightweight fasteners in the major application areas to reduce the weight of the vehicle. The automakers’ focus is high on the interior trims where the application of plastic and aluminium fasteners is increasing to achieve weight reduction, which will drive the requirement of fasteners.
Removable automotive fasteners enable the parts to be disconnected readily without any damage. These fasteners contribute the maximum share in the total number of fasteners used in an automobile. Removable automotive fasteners such as nuts, bolts, and studs can be installed and removed easily with the help of hand tools or power tools. These types of fasteners have a long life and can be used multiple times. The penetration of removable fastener in automobiles is high due to its properties.
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Target Audience:
1. Manufacturers of automotive fasteners
2. Automotive OEMs
3. Electric vehicle manufacturers
4. Industry associations and experts
5. Traders, distributors, and suppliers of automotive fasteners
MarketsandMarkets™
Mr. Aashish Mehra
1-888-600-6441
newsletter@marketsandmarkets.com
Source: EmailWire.Com 
Source: EmailWire.com
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