CHICAGO, Feb. 19, 2024 /PRNewswire/ — According to Arizton’s latest research report, the industrial fasteners market will grow at a CAGR of 5.74% from 2023 to 2029.
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Industrial Fasteners Market Report 2024-2029
Browse In-depth TOC on the Industrial Fasteners Market
376 – Pages
133 – Tables
78 – Figures
Industrial Fasteners Market Report Scope
|
Report Scope |
Attributes |
|
Market Size (2029) |
USD 124.98 Billion |
|
Market Size (2023) |
USD 89.43 Billion |
|
CAGR (2023-2029) |
5.74 % |
|
Historic Year |
2019-2022 |
|
Base Year |
2023 |
|
Forecast Year |
2024-2029 |
|
Market Segments |
Material, Product, Type, End-user, Distribution Channel, and Geography |
|
Geographic Analysis |
North America, Europe, APAC, Latin America, and Middle East & Africa |
|
Market Dynamics |
• Growth in Construction Industry • Increasing Demand for Lightweight Fasteners • Green Initiatives and Regulations Leading to Rise in Renovations |
The global economic scenario, impacted by events like the COVID-19 pandemic, is crucial in shaping various industries, including manufacturing and construction, affecting the demand for fasteners. Despite initial setbacks due to the pandemic, the demand for industrial fasteners has rebounded, driven by resumed manufacturing and construction activities worldwide. Developing economies like China and India are experiencing significant growth opportunities, with infrastructure development being a key driver. Government policies and economic reforms in countries like Mexico, the UAE, and Peru aim to counter economic weaknesses and stimulate investment. Accommodative monetary policies in Europe are expected to sustain domestic demand and production. In the US, factors such as labor market expansion and infrastructure programs could boost industrial growth. The demand for fasteners is projected to continue growing as economies recover and industries expand, with China and India expected to witness notable development.
Green Initiatives Propel Growth of Industrial Fasteners Market in the Renovation Sector
The surge in global green initiatives and regulations has catalyzed significant growth in the industrial fasteners market, particularly within renovation projects. As countries and industries prioritize environmental sustainability, the demand for energy-efficient and eco-friendly construction practices has soared. Industrial fasteners play a vital role in supporting these initiatives by securing new energy-efficient components and sustainable construction materials. Renovation projects aligned with green initiatives emphasize energy efficiency, sustainable materials, compliance with green building codes, and the principles of the circular economy. Additionally, the pursuit of green building certifications, water management system upgrades, indoor air quality improvements, and climate-responsive construction practices have further propelled the demand for specialized fasteners. Government incentives for green renovations further drive the adoption of sustainable construction practices, including eco-friendly fasteners. Overall, integrating green principles into renovation projects underscores the essential role of industrial fasteners in creating a more sustainable and resilient built environment.
Mergers and Acquisitions Reshape the Global Industrial Fasteners Market
Mergers and acquisitions have become a significant trend in the industrial fasteners market, shaping its landscape through strategic transactions like mergers, acquisitions, consolidations, or partnerships. Companies engage in these activities to achieve various strategic objectives. One primary motivation is market expansion, allowing companies to broaden their geographical presence, tap into new customer bases, and strengthen their competitive position. Additionally, mergers and acquisitions drive economies of scale, enabling streamlined operations, optimized supply chains, and reduced costs, thereby enhancing profitability and resilience. Integration of technology and innovation is another key driver, as companies aim to stay competitive by acquiring advanced technologies and offering a broader product portfolio. Financial considerations also play a crucial role, with acquisitions providing access to additional resources, diversifying revenue streams, and bolstering financial stability. Overall, mergers and acquisitions are instrumental in reshaping the industrial fasteners market, driving growth, innovation, and competitiveness among industry players.
APAC Leads Global Industrial Fasteners Market with Dynamic Growth and Diverse Contributions
The APAC region stands as a dominant force in the global industrial fasteners market, driven by robust manufacturing activities and a wide range of industries. China, renowned as a manufacturing powerhouse, plays a pivotal role in shaping market dynamics, with its vast industrial base generating significant demand across sectors like automotive, electronics, and construction. Japan, known for its technological prowess, particularly in automotive and electronics, contributes high-quality fasteners, enhancing APAC’s competitiveness. India’s rapid economic growth fuels demand through the construction and automotive sectors, supported by initiatives like smart city development. Other contributors like South Korea, Singapore, and Malaysia add to the region’s vibrancy, each bringing unique strengths in technology and manufacturing capabilities. The APAC market benefits from a diverse ecosystem of fastener manufacturers, fostering innovation and catering to evolving industry needs. With ongoing urbanization, infrastructure development, and industrialization, coupled with the demand for the automotive and electronics sectors, APAC remains a dynamic and pivotal segment in the global industrial fasteners market.
The Industrial Fasteners Market Report Encompasses Crucial Data, Including:
CAGR (Compound Annual Growth Rate) during the forecast period: This metric provides insights into the annual growth rate of the industrial fasteners market over the specified time frame.
Detailed information on growth drivers: The report offers in-depth information on the factors that will propel the industrial fasteners market growth from 2023 to 2029. This includes an analysis of various market influences.
Precise estimation of market size: Accurate assessments of the industrial fasteners market size and its contribution and focusing on key market segments.
Predictions about upcoming trends and changes in consumer behavior: The report offers insights into anticipated trends and shifts in consumer behavior that are likely to impact the industrial fasteners market, helping businesses prepare for future market dynamics.
Geographical market growth: The report covers the development of the industrial fasteners market across different regions, including North America, Europe, APAC, Latin America, the Middle East, and Africa. This provides a comprehensive understanding of the market’s global landscape.
Competitive landscape analysis: A thorough examination of the market’s competitive landscape is presented, including detailed information about companies operating in the industrial fasteners market. This includes an overview of key players, their market share, strategies, and key developments.
Analysis of growth challenges: The report includes a comprehensive analysis of factors that may pose challenges to the growth of companies in the industrial fasteners market, providing a well-rounded view of the market dynamics.
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Key Company Profiles
Stanley Black & Decker
Hilti
ITW
Berkshire Hathaway
Howmet Aerospace
LISI
NIFCO
Fontana Gruppo
3M
A&G Fasteners
Agrati Group
Aoyama Seisakusho
APL
ARaymond
B&B Specialties
Böllhoff Group
Boltfast
Bulten
Caparo
CBC Fasteners
Deepak Fasteners
EJOT
Ever Hardware Industrial
Federal Screw Works
FUCHS Schraubenwerk
Jinyi Industrial Co.
KAMAX
KOVA Fasteners
MacLean-Fogg
PennEngineering
Tong Hwei Enterprise Co.
Würth Industrie Service
Virginia Fasteners
Apex Fasteners
C. & E. FEIN
Hebei Tailian Fastener Manufacturing
Bolt Motorcycle Hardware
MID-CONTINENT STEEL AND WIRE
Kerb-Konus-Vertriebs
Snap-on
Fasteners & Fittings
Southern Fasteners & Supply
Jet-Tek
AMPG (Accurate Manufactured Products Group)
Market Segmentation
Material
Metal
Non-metal
Product
Screws
Nuts
Bolts
Washers
Others
Type
Threaded
Non-threaded
Specialty
End-user
Automotive
Aerospace
Machinery
Construction
Consumer Appliances and Furniture
Others
Distribution Channel
Offline
Online
Geography
APAC
China
India
Japan
South Korea
Singapore
Malaysia
The Rest of APAC
Europe
Germany
France
The UK
Italy
Spain
Russia
Rest of Europe
North America
The US
Canada
Latin America
Brazil
Mexico
Argentina
The Rest of Latin America
Middle East & Africa
The GCC
Turkey
Israel
The Rest of Middle East and Africa
Check Out Detailed TOC @ https://www.arizton.com/market-reports/industrial-fasteners-market?details=tableOfContents
Key Questions Answered in the Report:
How big is the industrial fasteners market?
What is the growth rate of the global industrial fasteners market?
Which region dominates the global industrial fasteners market share?
What are the significant trends in the industrial fasteners market?
Who are the key players in the global industrial fasteners market?
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