Automotive fasteners are components used in assembling a
vehicle in the production line. The choice of the right fasteners and emphasis
on safety are likely to trigger its demand among automotive manufacturers. The
global automotive fasteners market report by
Market Research Future (MRFR) contains valuable insights gleaned through
painstaking efforts by analysts and identification of trends, drivers, and
challenges for the period of 2018 to 2023 (forecast period). The sudden
outbreak of the COVID-19 virus and its impact on the industry are analyzed in
granular detail.
Market
Scope
The global automotive fasteners market is expected to rise at
a CAGR of 4.5% over the forecast period. The surge in vehicle production, focus
to lightweight vehicles, and use of infotainment systems, telematics, and
ignition can induce the need for fasteners. The rise of injection molding and
use of plastic components to lower vehicle weight can bolster the market demand
exponentially. Resistance to corrosion, salt, and climatic conditions are
likely features enticing its use in commercial and passenger vehicles.
The use of plastic fasteners due to the need for reducing
vehicle weight and eschew the usage of stainless steel and nickel can fuel the
market growth. Removable fasteners are likely to be in huge demand due to the
corrosive nature of bolts, studs, and nuts and the frequent need to replace it.
Competitive Outlook
Atotech, Westfield Fasteners Limited, Bulten AB, Jiangsu Xing
Chang Jiang International Co., Ltd., Permanent Technologies Inc., The Phillips
Screw Company, Shamrock International, Shanghai Tianbao Fastener Manufacturing
Co., Ltd., Nifco Inc., and KOVA Fasteners Pvt Ltd are key players of the global
automotive fasteners market. The high competition among players has led to them
innovating in fasteners to attain a larger share of the automotive fasteners
market share till 2023.
Get Free Sample Report @ https://www.marketresearchfuture.com/sample_request/6399
Segmentation
- ·
On the basis of type, the market has been divided into
threaded and non-threaded.
- ·
On the basis of material, the market has been
segmented into nickel, iron, aluminum, stainless steel, and others. The
stainless steel segment is likely to garner huge revenues owing to its
application in engine parts, door panels, and airbag housings.
- ·
On the basis of distribution channel, the market has
been segmented into OEM and aftermarket. The aftermarket channel can dominate
the market owing to car manufacturers doling out similar components for
refurbishment of old and legacy cars. In addition, the market for used cars is
likely to be a new revenue pocket for the segment and the global automotive
fasteners.
- ·
On the basis of end-use, the market has been segmented
into permanent, semi-permanent, and removable.
Regional
Analysis
Geographically, the global automotive fasteners market has
been segmented into the four major regions of North America, Europe, Asia
Pacific (APAC), and Rest-of-the-World (RoW).
The global automotive fastener market in APAC is expected to
grow during the forecast period followed by Europe. Developing countries such
as China, India and Japan are major hubs for automotive industry which can
boost the market growth share for APAC. Growing automotive fasteners sales in
the aftermarket will further enhance the sales. Regulations for
lightweight components and emphasis on safety of passengers are expected to
facilitate market growth till 2023.
In Europe, the increased manufacturing of vehicles is
expected to increase the demand for automotive fasteners which will enhance the
market in the future. The presence of prominent manufacturers, supportive
regulations, establishment of new emission and safety standards, and pacts for
creating safe cars can bode well for the market.
Major Highlights of TOC Covers:
- Executive Summary
- Key Business Trends
- Regional Trends and Growth
- Product Trends
- End-use Trends
- Definition and Forecast Parameters
- Automotive Fastener Market Segmentation
- Automotive Fastener Market Landscape
- Vendor Matrix
- Company Profiles
More…
If you have any
requirements, let know and we will customize the report according to your need.
Get More Information: https://www.marketresearchfuture.com/reports/automotive-fasteners-market-6399
About Us:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
Contact Us
Market Research Future
Office No. 528, Amanora
Chambers
Magarpatta Road, Hadapsar,
Pune
- 411028
Maharashtra, India
+1 646 845 9312
Email: sales@marketresearchfuture.com
No comments:
Post a Comment