Automotive Fastener is defined as mechanical device used in vehicles to affix or join two or more parts together. It helps to avoid leakage, wobbling & enables transmission of load from body part to another. Automotive fasteners create non-permanent joints. These are also available in various colors, shapes in order to meet the needs of users. The rise in production & sales of automobiles is expected to accelerate the growth of global automotive fastener market.
The expansion of automobile industry and the importance of fasteners in automobiles is a prominent factor which is expected to boost the global automotive fastener market growth over the forecast period. Ongoing technological developments and improvements in the quality & durability of fasteners is another key driving factor which anticipated propelling the target market growth. The easy replaceable nature of these products makes it convenient for the end use consumers to purchase fasteners for their vehicles will positively influence the market growth.
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The growing demand for vehicle stability and reduced vehicle weight will contribute the global automotive fastener market growth during this forecast period. Furthermore, the increase in spending capacity of individuals and the rise in urbanization across the world will create opportunities for global automotive fastener market growth in the near future.
The presence of alternative to automotive fasteners like clinching and welding may hamper the global automotive fastener market growth during this forecast timeline.
Automotive Fastener Market segmentation
The Global Automotive Fastener Market is segmented into material, coating type, vehicle type, application, and region.
Based on the material market is segmented into Stainless Steel, Aluminium, Titanium, Plastic, Bronze, Nickel, Iron, and Others, by coating type such as Passive Coating, Zinc Coating, Cadmium Coating, and Others, by vehicle type such as Commercial Vehicle, and Passenger Cars. Further, market is segmented into application such as Interior Trim, Engine, Front/Rear Axle, Powertrain, Chassis, and Others.
Also, the Global Automotive Fastener Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
Europe is the market leader in the global automotive fastener market due to the largest automobile hub. Asia Pacific is expected to be the foremost contributor to the overall market growth. The advancing government regulations for use of reduced vehicle weight has led to the improvements in technologies for producing lightweight and durable components in this region. Furthermore, the manufacturers are shifting interest from standard components to customized components which is expected to boost the demand for these products in the Asia Pacific region.
Top Market key Players
Some key operating players are discussed in this report such as The Phillips Screw Company, Atotech, Permanent Technologies Inc., Jiangsu Xing Chang Jiang International Co., Ltd., Nifco Inc, Shanghai Tianbao Fastener Manufacturing Co., Ltd, Shamrock International., KOVA Fasteners Pvt Ltd, Bulten AB, and Westfield Fasteners Limited, etc.
Market Segmentation Analysis
- Stainless Steel
By Coating Type
- Passive Coating
- Zinc Coating
- Cadmium Coating
By Vehicle Type
- Commercial Vehicle
- Passenger Cars
- Interior Trim
- Front/Rear Axle
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
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