Automotive Fastener Market 2019 Growth Analysis Trends & Forecast 2019-2025

Based on distribution channel, automotive fastener market is segmented into OEMs and aftermarket. OEMs have major share owing to their strategic tie ups with automobile manufacturers. These are manufacturing customized components to retain their share. Aftermarket has moderate share and expected to grow with rise is after sales service centers.

Increased technological advancements for manufacturing lightweight and high durability products will drive automotive fasteners market. Government regulations for light weight vehicles shall support its use. Recent processes such as 3-D printing has made it easy to design and fabricate with complex geometry requirements. Manufacturers are drifting from standard to customized parts that has given positive outlook to automotive fastener market.

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Automotive fastener is used in all the passenger cars, Light Commercial Vehicles (LCV), Heavy Commercial Vehicles (HCV). Passenger cars have major share with growth in demand of personal cars and private cabs. LCV and HCV have moderate contribution and expected to depict healthy growth with rise in industrial sector and strengthening transportation sector.

Europe, led by Germany has substantial share in automotive fastener market with well-established and flourishing automobile industry hosting big players namely Audi and Volkswagen. Asia Pacific has significant share owing to growing number of automobile manufacturers and demand of automobiles.

North America automotive fastener market has a substantial share due to presence of OEMs and after sales centres that cater to local as well as overseas demand. Further, presence of key manufacturing companies including, Fords and General Motors has enhanced the product demand in the region. Middle East & Africa has nascent share and anticipated to show moderate growth with rise in income level and demand for automobiles.

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Companies are investing heavily in research & development activities for new product innovation in automotive fastener market. For instance, in April 2017, Acument global technologies launched a product named ‘TechiClean’ that provides better finish and cleanliness level as compared to conventional types.

Automotive fastener market is fragmented with the presence of substantial number of regional players. Some of the key players include Permanent Technologies, Shamrock International, Phillips Screw Company, Westfield, Atotech Deutschland, Shanghai Tianbao, Stanley Engineering Jiangsu Xing Chang Jiang International, Acument Global Technologies, NIFCO and BUlten.

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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