Global Automotive Fasteners Market industry valued approximately USD 20.84 billion in 2016 is anticipated to grow with a healthy growth rate of more than 4.88% over the forecast period 2017-2025. Automotive fasteners are a group of products which are usually used in vehicle and automotive assembly. They are normally designed for specific models of the vehicles. The major factors driving the growth are the increasing significance of fasteners, the comfortable replaceability of automotive fasteners, the blossoming automobile industry, and technical advancements & enhancements in the quality and resilience of fasteners.
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Automotive Fasteners industry has also experienced technical advancements like improvements to light weight fasteners and establishment of in-die fasteners have bolstered the growth of the industry. Furthermore, escalating vehicle manufacturing, and rising inclination of OEMs from traditional fasteners to custom-made fasteners have added to the progress in the industry. Such advancements will drive the market growth in the coming years.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
Light Commercial Vehicle (LCV)
Heavy Commercial Vehicle (HCV)
Original Equipment Manufaacturer (OEM)
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Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2015
Base year – 2016
Forecast period – 2017 to 2025
Some of the key manufacturers involved in the market are:
Bulten AB, Stanley Engineered Fastening, Illinois Tools Work Inc., Rocknel Fastener Inc., Phillips Screw Company, Sundarm Fasteners Limited, Precision Castparts Corp. and Trifast PLC.
Acquisitions and effective mergers are some of the strategies adopted by the key manufacturers. New product launches and continuous technological innovations are the key strategies adopted by the major players.
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