Automotive Fasteners Market Overview:
Global automotive fasteners market has seen high growth; expected to rise at a CAGR of ~4.5%. The continuous growth in the sales of automobiles and the growing automotive components industry drive the automotive fasteners market. The growing need for technical development and design improvement in automotive fasteners will increase the demand in the global market for automotive fasteners. The trend for using replaceable fasteners in vehicles will further increase the ease of use for automotive fasteners and boost the market growth. The increased demand for vehicle stability and reduced vehicle weight will lead to the preference of fasteners over welding. This will be a growth opportunity for the global automotive fasteners market.
In recent times, manufacturers have majorly been focusing on improving the design and quality of fasteners. They have been acquiring design companies for enhancing the designs of their automotive fasteners. However, there are various substitutes in the global market for automotive fasteners such as welding and clinching, which might hinder the market growth. Moreover, the large unorganized aftermarket for automotive fasteners might also be a challenge for the manufacturers.
The prominent players in the Automotive Fasteners Market are-
The prominent players in the automotive fasteners market include The Phillips Screw Company (US), Permanent Technologies Inc. (US), Atotech (Germany), Shanghai Tianbao Fastener Manufacturing Co., Ltd. (China), and Shamrock International (US). Jiangsu Xing Chang Jiang International Co., Ltd. (China), Nifco Inc. (Japan), KOVA Fasteners Pvt Ltd (India), Bulten AB (Sweden), and Westfield Fasteners Limited (UK) are among others.
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Automotive Fasteners Market Segmentation:
Global automotive fasteners market is segmented on the basis of type, material, distribution channel, end-use, and region.
On the basis of type, the market has been segmented as threaded and non-threaded.
On the basis of material, the market has been segmented as iron, aluminum, stainless steel, nickel, and others.
On the basis of distribution channel, the market has been segmented as OEM and aftermarket.
On the basis of end-use, the market has been segmented as removable, semi-permanent, and permanent.
Regional Analysis:
Geographically, the global automotive fasteners market has been segmented into the four major regions of North America, Europe, Asia-Pacific, and the Rest of the World. The global automotive fasteners market in Asia-Pacific is expected to grow during the forecast period followed by Europe. Developing countries such as China and India and developed countries such as Japan that are the major hubs for automotive industry, will boost the market share for Asia-Pacific. Growing automotive fasteners sales in the aftermarket will further enhance the sales in Asia-Pacific market. In Europe, the increased manufacturing of vehicles is expected to increase the demand for automotive fasteners which will enhance the market in the future.
The report for Global Automotive Fasteners Market of Market Research Future covers extensive primary research. This is accompanied with detailed analysis of qualitative and quantitative aspects by various industry experts and key opinion leaders to gain deeper insights into the market and industry performance. The report gives a clear picture of the current market scenario, which includes the historical and forecast market size, in terms of value and volume, technological advancement, macroeconomic, and governing factors of the market. The report provides comprehensive information about the strategies of the top companies in the industry, along with a broad study of the different market segments and regions.
More info @
https://www.marketwatch.com/press-release/automotive-fasteners-market-2019-global-industry-size-share-trends-key-players-analysis-growth-factors-demand-forecast-to-2023-2019-01-11
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