Global Industrial Fasteners Market was valued US$ 81.60 Bn in 2017 and is expected to reach 105.30 Bn by 2026, at a CAGR of 3.24 % during a forecast period.
Fasteners are commonly used to join the different parts of items by using nuts and bolts, washers, screws, clips, clamps and other products.
Growing mechanization and industrialization across the globe, increasing demand for numerous machinery and equipment is expected to boost the growth in the global industrial fasteners market. Increasing demand for fasteners in the automotive industry, coupled with a rise in construction and manufacturing expenditure in emerging countries like China, and India, is projected to increase the demand for industrial fasteners. Furthermore, the fluctuation in the cost of the raw material is limiting the growth of the global industrial fasteners market.
The metal fasteners are expected to grow at XX% rate of CAGR in the global industrial fasteners market. The usage of metal fasteners in an array of industries is expected to share nearly about 90.0% market share. These fasteners provide exceptional mechanical strength and impact resistance, in heavy-duty applications like industrial machinery, and construction equipment. Additionally, These fasteners are also expected to offer the product a characteristic advantage over their counterparts.
The automotive sector is expected to dominate the global industrial fasteners market. The growth is attributed to increasing the production of medium commercial vehicles, light commercial vehicles, heavy earth moving equipment, textile machinery, machine tools, aircraft, and utility vehicles. Increasing mechanization and automation in the automotive sector is one expected to increase product demand.
Geographically, Asia Pacific is expected to lead the global industrial fasteners market. The leading position in the market can be attributed to factors easy supply of raw material, supportive government policies and the availability of skilled labor and land in the developing countries like China and India. Rapid industrialization is one of the key drivers in the industrial fasteners market in this region.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding dynamics, structure by analysing the market segments and, project the global industrial fasteners market. The report also provides a clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global industrial fasteners market. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders in arranging the efforts and investment in the near future to a particular market segment.
The Scope of the Report for Global Industrial Fasteners Market
Global Industrial Fasteners Market, By Raw Material
- Plastic
- Metal
Global Industrial Fasteners Market, By Product
- Externally Threaded
- Internally Threaded
- Non Threaded
- Aerospace Grade
Global Industrial Fasteners Market, By Application
- Automotive
- Aerospace
- Building & Construction
- Industrial Machinery
- Home Appliances
- Lawn and Garden
- Motors and Pumps
- Furniture
- Plumbing Products
- Others
Global Industrial Fasteners Market, By Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
Key players
- Penn Engineering & Manufacturing Corporation
- Acument Global Technologies Inc.
- Arconic Inc.
- Stanley Black & Decker Inc.
- MW Industries Inc.
- Illinois Tool Works
- Bulten AB
- MacLean-Fogg Company
- MISUMI Group Inc.
- Nifco Inc.
- Fortana Group
- Hilti Corporation
- LISI Group
- Precision Castparts Corp.
- The SFS Group
- A&G Fasteners
- SA Fasteners.
- Stanley Engineered Fasteners
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