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Automotive Fasteners Market: Segmentation by Application
Based on the segmentation by application, the market generated maximum revenue in the passenger vehicles segment in 2020. Due to factors such as the increasing consumer expectation, higher competition prompting OEMs to add features to maintain market share, there will be an increase in the lightweight fasteners for the passenger cars. The growth of the segment will be significant over the forecast period.
Automotive Fasteners Market: Segmentation by Geography
59% of the market’s growth will originate from APAC and held the largest market share in 2020 and the market growth in the region is expected to be faster compared to the growth of the market in other regions. The growth of the market in APAC can be attributed to the growing popularity of lightweight fasteners solutions which will significantly influence automotive fasteners market growth in APAC over the forecast period. China, Japan, and South Korea (Republic of Korea) are the key markets for the automotive fasteners market in the region.
Automotive Fasteners Market: Opportunities
Factors such as improving economic conditions and political stability, rapid urbanization, and infrastructure and industrial growth are enhancing the growth of the market. Over the years, countries across the world have been making significant investments in the automotive sector. This will create considerable demand for the automotive fasteners market thereby opening several growth opportunities for market vendors.
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Key Market Dynamics:
Market Drivers
- Cost advantages of using plastic automotive fasteners
- The growing popularity of structural blind fasteners
- Stringent regulations to control emissions
Market Challenges
- Fasteners related recall due to improper manufacturing procedures
- The increasing number of players in the automotive fastener supply chain
- The sharp decline in automobile production and sales
Companies Mentioned
- Bulten AB
- EJOT Holding GmbH & Co. KG
- Illinois Tool Works Inc.
- KAMAX Holding GmbH & Co. KG
- Koninklijke Nedschroef Holding BV
- Norm Fasteners
- Penn Engineering
- Rocknel Fastener Inc.
- SBE-VARVIT Spa
- Sundaram Fasteners Ltd.
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Available Customization
Along with the market data, Technavio offers customizations as per the specific needs of the companies. The following customization options are available for the automotive fasteners market report.
- Further breakdown of the market segmentation in requested regions.
- Detailed analysis and profiling of additional market players, vendor segmentation, and vendor offerings.
Key Topics Covered
- Executive Summary
- Market Landscape
- Market Sizing
- Five Forces Analysis
- Market Segmentation by Application
- Market Segmentation by Geography
- Customer landscape
- Geographic Landscape
- Vendor Landscape
- Vendor Analysis
- Appendix
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