The Automotive Fasteners Market is expected to grow at a CAGR of 6%, reaching a market value of USD 47,174.7 million by 2032, up from USD 26,342.1 million in 2022.
Recently, global companies have been increasing investments in research and development to improve machine productivity, and automotive fasteners with industry-specific designs and shapes are becoming more popular among end users. These fasteners are increasingly used in applications like housing, door panels, and other vehicle components, driving market demand.
Key drivers of the market include shifting consumer preferences toward smart vehicles, higher disposable incomes, and the integration of advanced technologies in automobiles. Additionally, the rising demand for lightweight vehicles is pushing for lighter automotive components, essential for better vehicle performance and fuel efficiency.
In-Depth Market Analysis: A Complete Report
Key Insights from the Automotive Fasteners Market Report:
- Europe holds the largest market share in the automotive fasteners market, expected to retain its position through the forecast period with 26% of the share, driven by sales in commercial vehicles, including passenger cars and electric buses.
- North America is the second-largest market, with growth supported by advancements in electric vehicles and a 16% share in the global market.
- The presence of major auto companies like General Motors and Ford strengthens the U.S. market within North America.
Competitive Landscape:
The automotive fasteners market is fragmented by the key players that help to develop the market all around the globe during the forecast period. These players are showing their efforts and focus on increasing the automotive fasteners’ market share. The key players are using various tricks and marketing terms to acquire the lion’s share in the automotive fasteners market size.
Key Companies Profiled
- Permanent Technologies, Inc.
- Phillips screw company
- Westfield Fasteners Limited
- com Inc.
- Atotech Deutschland GmbH
- Stanley Engineered Fastening
- PennEngineering
- Shanghai Tianbao Fastener Manufacturing Co., Ltd.
- Jiangsu Xing Chang Jiang International Co., Ltd.
- Shamrock International Fasteners
- Birmingham Fastener, Inc.
- Sundram Fasteners Limited
Key Segments in The Automotive Fasteners Market
By Material:
- Iron
- Aluminum
- Brass
- Nickel
- Stainless steel
- Plastic
By Characteristics:
- Removable
- Semi-permanent
- Permanent
By Types:
- Threaded
- Nuts
- Screws
- Rivets
- Studs
- Nonthreaded
- Snap rings
- Clips
By Coating:
- Passivated coating
- Cadmium coating
- Dry film lube coating
By Distribution Channel:
- OEM (Original Equipment Manufacturers)
- Aftermarket
By Region:
- North America
- Latin America
- Asia Pacific
- Middle East and Africa
- Europe
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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