DUBLIN, Jan. 9, 2024 /PRNewswire/ — The “Automotive Fasteners – Global Strategic Business Report” report has been added to ResearchAndMarkets.com’s offering.
Global Automotive Fasteners Market to Reach $24.4 Billion by 2030
The global market for Automotive Fasteners estimated at US$17.6 Billion in the year 2022, is projected to reach a revised size of US$24.4 Billion by 2030, growing at a CAGR of 4.1% over the analysis period 2022-2030.
This report sheds light on how automotive fastener manufacturers grappled with the challenges posed by the pandemic. It provides an overview of the Global Key Competitors’ Percentage Market Share in 2022, categorizing their Competitive Market Presence as strong, active, niche, or trivial.
The report starts with an introduction to automotive fasteners and their critical role in the automotive industry, emphasizing their role in holding vehicles together. It also delves into the various types of mechanical automotive fasteners and the importance of fastener finishing. A segmental overview highlights the different categories within the industry, such as bolts, nuts, washers, and others, showcasing the breakdown of value sales. The ubiquity of fasteners in automobile design is emphasized, revealing their crucial role in vehicle assembly.
Removable, one of the segments analyzed in the report, is projected to record 4.6% CAGR and reach US$14.8 Billion by the end of the analysis period. Growth in the Permanent segment is estimated at 3.6% CAGR for the next 8-year period. The report also touches upon the complexity of fasteners, emphasizing their deceptive simplicity. It discusses how modular manufacturing and production platforms have become the cornerstone of fastener demand, driving their importance in the automotive industry.
Global market prospects and outlook are explored, with dynamic elements that have the potential to amplify the growth of the automotive fasteners market. The Asia-Pacific region, as the largest auto production hub, dominates the global market, with about 55% share in world automobile production. The competitive scenario in the industry is detailed, highlighting the diverse strategies employed by players to remain competitive.
The U.S. Market is Estimated at $3.1 Billion, While China is Forecast to Grow at 8.2% CAGR
The Automotive Fasteners market in the U.S. is estimated at US$3.1 Billion in the year 2022. China, the world’s second largest economy, is forecast to reach a projected market size of US$6.3 Billion by the year 2030 trailing a CAGR of 8.2% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 1.7% and 2.8% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 2.4% CAGR.
What’s New?
Special discussions on the global economic climate and market sentiment
Coverage on global competitiveness and key competitor percentage market shares
Market presence analysis across multiple geographies – Strong/Active/Niche/Trivial
Online interactive peer-to-peer collaborative bespoke updates
Access to digital archives and trademarked research platform
Complimentary updates for one year
Access to curated YouTube video transcripts of market sentiments shared by CEOs, domain experts and market influencers via interviews, podcasts, press statements and event keynotes
MARKET TRENDS & DRIVERS
Thriving Trends Taking Automotive Fasteners Market to the Next Level
Rise in Vehicle Recalls Due to Fastener Failure Fuels Emphasis on Quality
Fastener Failures & Vehicle Recalls Create Pressing Need for Quality-Oriented Initiatives
OEM Migration from Standard Parts to Customized Parts Drives the Importance of Customized Fasteners
Changing Automotive Manufacturing Trends Impact Opportunities for Fasteners
Automotive Lightweighting Forces Smarter & Tougher Fastener Innovations
Massive Engineering Interest in Lightweighting, as Measured by the Robust Demand for Automotive Lightweight Materials, Catalyzes Fastener Material & Design Innovations: Global Automotive Lightweight Materials Market (In US$ Billion) for Years 2022, 2024 & 2026
Lightweighting Benefits Spur the Commercial Value of Self-Tapping, Self Locking & Self Sealing Fasteners
Growing Shift Towards Lightweight Materials in Automobile Construction Spurs Development of Self-Tapping & Self-Locking Fasteners: % Breakdown of Automotive Materials Used by Type for the Years 2017 & 2030
Anticipated Stable Automobile Production to Fuel Growth Opportunities in the OEM Market
World Automobile Production in Million Units: 2008-2022
Global Production Capacity of the Automobile Industry (In Million Units) by Region for the Years 2017 and 2022
Nearshoring Trend Positions Brazil & Mexico as a Strong Production Centers for CVs
An Inevitable Rebound in Market Prospects to Encourage Growth in Sales of Fasteners: Global Commercial Vehicle Sales (In 000 Units) for Years 2018, 2020, 2022, 2024 & 2026
How the Automotive Industry was Impacted by the Pandemic & What’s the New Normal?
Car Production YoY % Growth in 2020 Across Major Regional Markets
Global Automotive Market Reset & Trajectory – Growth Outlook (In %) For Years 2019 Through 2025
Unprecedented Disruptions in the Supply Chain Triggered by COVID-19 Accelerates the Urgency to Rethink Supply Chain Management
Unprecedented Losses Sustained in the Supply Chain Pushes Up the Focus on Resilience & Supply Chain Reinvention: Global Losses in Supply Chain as a % of Earnings Before Interest, Taxes, Depreciation & Amortization (EBITDA) in the Year 2020
How Are OEMs Responding?
Automotive Fasteners Take Charge to Handle Thrilling Ride of Electric Vehicles
Rising Passenger Car Density & Aging Vehicles Spur Opportunities in the Repair & Maintenance Services Sector
Average Age of Light Vehicles (Car & Light Commercial Vehicles) in the US for Years 2010, 2018 and 2022E
Tough Emission Control Regulations to Benefit Automotive Fasteners
Transportation is the Biggest Contributor to GHG Emissions: Global CO2 Emissions (In Billion Metric Tons) for the Year 2021
Demographic Trends Create Fertile Environment for Long-Term Growth of Automobile Market
Urban Sprawl
World Urban Population in Millions: 1950-2050
Degree of Urbanization Worldwide: Urban Population as a % of Total Population by Geographic Region for the Years 1950, 1970, 1990, 2018, 2030 and 2050
Growing Affluence of Middle Class Population
Global Middle Class Population (In Million) by Region for the Years 2020, 2025 and 2030
Global Middle Class Spending (US$ Trillion) by Region for the Years 2020, 2025, 2030
Large Base of Millennials
Global Millennials Population Spread by Region (in %): 2021E
Millennial Population as a Percentage (%) of Total Population in Developing Countries: 2021E
Rising Living Standards
Shape Memory Fasteners: The Future of Automotive Assembling
Metal Fasteners Continue to Reign
Plastic Fasteners Grow in Popularity
Acceptance of Adhesive Fasteners Casts a Long Shadow of Threat Over Mechanical Fasteners
Remote Fastening Technology: The Focus Area for Future R&D
FOCUS ON SELECT PLAYERS (Total 117 Featured)
Avery Dennison Corporation
APM Automotive Holdings Bhd.
Bharat Forge Ltd.
Acument Global Technologies, Inc.
Adolf Wurth Gmbh & Co. KG (Wurth Group)
AVK Industrial Products
Arconic, Inc.
ATF, Inc.
Avibank Mfg., Inc.
Aoyama Seisakusho Co., Ltd.
A. Agrati SpA
Armour Screw Company
Avdel (India) Pvt. Ltd.
Abbott Interfast LLC
A & G Fasteners Pty Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/cspaqz
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Media Contact:
Research and Markets
Laura Wood, Senior Manager
[email protected]
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg
SOURCE Research and Markets
