Automotive Fastener Market Overview:
As per the market research that has been made on automotive fasteners market, it is showing a potential growth at the valuation of USD 35,636.5 million with a registered CAGR of 5.95% during the forecast timeline which is still 2026.
The automotive fasteners are mechanical component that is used for connecting or joining more than two joints and also the parts that are present in the vehicle. Fasteners are made from stainless steel, aluminium and nickel to name some. The primary work of such automotive fasteners is to hold the parts of the vehicles all together so the separation can be avoided while the leakage that may happen from the joints can also be prevented. The industry of automotive fasteners is flooded with different types especially for the components because of different sizes, shapes, qualities and designs, the market further is driven by the increased requirement for design improvement and technical development in the automotive fasteners. However, the increased vehicle stability demand along with the reduction in the weight of the vehicle is likely to create more demand for automotive fastener vendors across the world.
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The lifestyle is also changing at a faster pace while there seems to be a growing sector which has further increased the focus on the public transport solution and automotive benefits to the increased requirements of mobility. If stainless steel is to be used for auto components, automotive fasteners and also chassis manufacturing are some of the finest examples of economic, social, and environmental considerations in the material choices for gaining a better technical solution. Stainless sell at a faster pace and is said to be one fine choice for automotive fasteners since it is fire resistant and offers fabrication ease with good strength to the weight proportion. Due to the choices of new automobiles are also made from steel or have used steel as a primary component, it is now easy to pact the steel with steel fasteners. It includes amazing recyclability and the high strength further offers amazing absorption of the energy with regard to the rate of strain.
There has been a continuous spread of the covid 19 virus across the globe which is why automakers are now taking some extreme measures with regard to the form of plant closures and pause of the covid 19 spread. The conditions stay uncertain as the European companies have also suspended the world. Besides, the Asia pacific and US automakers have further extended the period of shutdown. The plans of the automakers on the production in regions like North America are further an effort for slowing the pace of covid 19 virus spread.
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Automotive Fastener Market Key Players:
- The Philips Screw Company (U.S.)
- Permanent Technologies Inc. (U.S.)
- Atotech (Germany)
- KAMAX (Germany)
- Lisi Group (France)
- SFS Group (Switzerland)
- Fontana Gruppo (Italy)
- Shanghai Tianbao Fastener International (U.S.)
- Nifco Inc. (Japan)
- KOVA Fasteners Pvt. Ltd. (India)
- Bulten AB (Sweden)
- Westfield Fasteners Limited (U.K.)
Automotive Fastener Market Segmentation:
As per the sales channel:
- OEM
- Aftermarket
As per the application:
- Copper
- Brass
- Aluminum
- Steel
- Plastic
- Nickel
As per the propulsion:
- ICE
- Electric
As per the type:
- Threaded
- Non-Threaded Fasteners
As per the end use:
- Semi-Permanent
- Intoremovable
- Permanent
Automotive Fastener Market Regional Classification:
As per the regional classification made, Asia pacific region is showing a good market share while other regions like North America, Europe, and the Rest of the World are progressing too.
Automotive Fastener Industry News:
Bulten AB in January 2021 inaugurated from its PSM Fasteners Taiwan Ltd subsidiary a new production facility in Taiwan.
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