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    Automotive Fastener Market Size, Share & Forecast (2019-2024) | Covid-19 Impact Analysis

    Automotive Fastener Market Size, Share & Forecast (2019-2024) | Covid-19 Impact Analysis

    Automotive Fastener Market Size, Share & Forecast (2019-2024) | Covid-19 Impact Analysis
    Report code - SRTI147 Delivery - 2 Weeks
    Automotive Fastener Market Size, Share, Trend, Forecast, & Competitive Analysis: 2019- See more...
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    Impact of COVID-19 on Automotive Fastener Market

    Covid-19 has impacted the market dynamics, competition, and global...

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    Impact of COVID-19 on Automotive Fastener Market

    Covid-19 has impacted the market dynamics, competition, and global supply chains. The revenues has gone down in 2020 and may resume an uptrend gradually form 2021. Companies optimizing their operation and strategy will sustain and beat the competition.

    Note: The summary below might not have included insights on covid impact since we have large number of reports.

    Automotive Fastener Market Insights

    Fasteners are used in a wide array of applications out of whcih the automotive industry is undoubtedly one of the largest segments. The market for fasteners in the automotive industry seems resilient and is likely to witness a healthy CAGR of 3.2% during the forecast period. Increasing automobile production across regions, especially in Asia-Pacific and Eastern Europe and increasing demand for electric and alternative powertrain vehicles are the major driving factors of the fasteners market in the automotive industry.

    Automotive Fastener Market Forecast

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    Apart from the organic growth of automobile production, there are several other factors contributing to the growth of the fasteners market in the automotive industry. One of the key factors is the introduction of stringent regulations, such as CAFÉ Standards and EU’s Carbon Emission Reduction Targets, which are compelling automakers to incorporate lightweight materials in order to enhance the fuel efficiency. Fastener companies could not get escaped from this and started facing enormous pressure for reducing the weight of fasteners. They are unraveling the challenges by developing lightweight plastic and aluminum fasteners for a wide array of auto applications.

    Automotive Fastener Market Share Analysis

    Automotive Fastener Market Share by Characteristic Type

    Based on the characteristic type, the automotive fasteners market is segmented as removable fastener, permanent fastener, and semi-permanent fastener. Removable fasteners lead the fasteners market in the automotive industry and are expected to maintain its leading position in the foreseen future. Removable fasteners contribute the maximum in the total number of fasteners used in an automobile as they can be conveniently removed by hand or power tools without causing any damage to part or fastener itself.

    Automotive Fastener Market Share by Vehicle Type

    Based on the vehicle type, the market is segmented into passenger car, light commercial vehicle, and medium & heavy commercial vehicle. The passenger car segment is expected to remain the largest segment during the forecast period, propelled by a large production of passenger across the world. Increasing disposable income coupled with improving lifestyle, especially in emerging economies, such as China and India, are leading to a greater appetite of customers to buy passenger cars. In passenger car segment, hatchbacks and SUVs are creating a greater demand for fasteners.

    Automotive Fastener Market Share by Application Type

    Based on the application type, the automotive fastener market is segmented as engine, chassis, interior trim, front/rear axle, steering, transmission, and others. Interior trim is expected to be the fastest-growing segment during the forecast period. Increasing focus towards the fuel efficiency enhancement has led to a greater adoption of lightweight materials, such as plastics and aluminum. The similar trend is also being observed in the fasteners market for interior trim. All the major automakers are now focusing on plastic and aluminum fasteners, especially in interior trims, to unravel the requirement of CAFÉ Standards and EU carbon emission reduction targets.

    Regional Insights

    In terms of regions, Asia-Pacific currently dominates the automotive fasteners market and is expected to maintain its leading position during the forecast period as well. China, Japan, South Korea, and India are the growth engines of the region. Increasing automobile production, especially in China and India, owing to rising population coupled with increasing disposable income, and a gradual shift of automobile manufacturing plants from the developed economies to China and India are the major factors generating a healthy demand for fasteners in the region.

    Automotive Fastener Market Regional Analysis

    Europe and North America, other major markets, are also likely to generate a healthy demand for fasteners in the coming five years. Germany, France, and the UK are the major markets in Europe, whereas the USA and Mexico are the major markets in North America. Stringent regulations regarding the fuel efficiency enhancements and the carbon emission reductions are also impacting the market dynamics of fasteners as there has been a greater demand for plastic fasteners in order to help automakers to further reduce the overall gross vehicle weight of the vehicle.

    Key Players

    Some of the major automotive fastener manufacturers are Illinois Tool Works Inc., LISI Group, Shanghai Prime Machinery Company Limited, Bulten AB, Stanley Black & Decker, Inc., The SFS Group AG, Meidoh Co. Ltd., NIPMAN Automotive Solutions, The Würth Group, Piolax Inc., Westfield Fasteners Limited, Changshu City Standard Parts Factory, Fontana Gruppo Srl, Simmonds Marshall Limited, Sterling Tools Limited, Bollhoff, Nedschroef Machine Industry,  Nifco Group, and Boltun Corporation. The development of lightweight fasteners and proximity to major clients are some of the major strategies of the key players in order to remain competitive in the market.

    Research Methodology

    For calculating the market size, our analysts follow either Top-Bottom or Bottom-Top approach or both, depending upon the complexity or availability of the data points. Our reports offer high-quality insights and are the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. We leverage multitude of authenticated secondary sources, such as company annual reports, government sources, trade associations, journals, investor presentation, white papers, and articles to gather the data. More than 10 detailed primary interviews with the market players across the value chain in all four regions and industry experts are usually executed to obtain both qualitative and quantitative insights.

    Market Scope & Segmentation

    Research Scope

    Trend & Forecast Period

    2013-2024

    Forecast

    3.2% CAGR during 2019-2024

    Regions Covered

    North America, Europe, Asia-Pacific, Rest of the World

    Countries/Subregions Covered

    The USA, Canada, Mexico, Germany, France, the UK, Russia, China, Japan, India, South Korea, Brazil, Argentina and Others

    Figures & Tables

    >150

    Customization

    Up to 10% customization available free of cost

    The market is segmented in the following ways:

    Automotive Fastener Market Size, Share & Forecast by Product Type:

    • Threaded Fastener (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Non-Threaded Fastener (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Automotive Fastener Market Size, Share & Forecast by Characteristic Type:

    • Removable Fastener (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Permanent Fastener (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Semi-Permanent Fastener (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Automotive Fastener Market Size, Share & Forecast by Fastener Type:

    • Bolts (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Screws (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Nuts (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Rivets (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Automotive Fastener Market Size, Share & Forecast by Material Type:

    • Stainless Steel Fasteners (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Plastic Fasteners (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Aluminum Fasteners (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Iron Fasteners (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Bronze Fasteners (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Brass Fasteners (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Nickel Fasteners (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Automotive Fastener Market Size, Share & Forecast by Coating Type:

    • Zinc Coating (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Passive Coating (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Cadmium Coating (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Dry Film Lube Coating (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Automotive Fastener Market Size, Share & Forecast by Vehicle Type:

    • Passenger Car (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Light-Duty Commercial Vehicle (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Medium- and Heavy-Duty Commercial Vehicle (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Automotive Fastener Market Size, Share & Forecast by Application Type:

    • Engine (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Chassis (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Interior Trim (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Front/Rear Axle (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Steering (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Transmission (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Other (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Automotive Fastener Market Size, Share & Forecast by End-User Type:

    • OE (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Aftermarket (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Automotive Fastener Market Size, Share & Forecast by Region:

    • North America (Country Analysis: the USA, Canada, and Mexico)
    • Europe (Country Analysis: Germany, France, the UK, Russia, and Rest of Europe)
    • Asia-Pacific (Country Analysis: China, Japan, India, and Rest of Asia-Pacific)
    • Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

    Report Features

    This report, from Stratview Research, studies the automotive fastener market over the trend period from 2013 to 2018 and forecast period from 2019 to 2024. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.

    The following are the key features of the report:

    • Market structure: Overview, industry life cycle analysis, supply chain analysis.
    • Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
    • Market trend and forecast analysis.
    • Market segment trend and forecast.
    • Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
    • Attractive market segments and associated growth opportunities.
    • Emerging trends.
    • Strategic growth opportunities for the existing and new players.
    • Key success factors.

     

    Report Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to 3 players)
    • SWOT analysis of key players (up to 3 players)

    Market Segmentation

    • Current market segmentation of any one of the vehicle types by application type.  

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

    Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at [email protected]. 


    Frequently Asked Questions (FAQs)

    What will be the growth rate of the Automotive Fasteners Market in the foreseeable years?

    Driven by a number of factors like Increasing automobile production across regions, the automotive fasteners market is projected to grow at CAGR of 3.2% during 2019-2024.

    Which country/region is expected to dominate the Automotive Fasteners Market?

    Asia-Pacific currently dominates the automotive fasteners market and is expected to maintain its leading position during the forecast period as well. China, Japan, South Korea, and India are the growth engines of the region.

    Who are the key players in the Automotive Fasteners Market?

    Illinois Tool Works Inc., LISI Group, Shanghai Prime Machinery Company Limited, Bulten AB, Stanley Black & Decker, Inc., The SFS Group AG, Meidoh Co. Ltd., NIPMAN Automotive Solutions, The Wrth Group, Piolax Inc., Westfield Fasteners Limited, Changshu City Standard Parts Factory, Fontana Gruppo Srl, Simmonds Marshall Limited, Sterling Tools Limited, Bollhoff, Nedschroef Machine Industry, Nifco Group, and Boltun Corporation. are among the key players in the automotive fasteners market.

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