Report Scope & Overview:
Automotive Fasteners Market Size was valued at USD 23.33 billion in 2022 and is expected to reach USD 29.56 billion by 2030 and grow at a CAGR of 3% over the forecast period 2023-2030.
A fastener is a mechanical piece that holds or joins two or more things together in a way that is not permanent. Automotive fasteners are used to hold parts together, stop leaks, and make cars run better. Most of the time, they are made of plastic and stainless steel. Plastic fasteners are not as strong as steel fasteners, but they can handle shocks and vibrations well. Steel fasteners are used in many parts of a car, such as door panels, small engine parts, airbag housing, and many more. There are nuts, screws, retainers, and washers among the fasteners for cars. In order to prevent the separation of car components and the subsequent leaking from joints, automotive fasteners provide the fundamental job of holding the components together. Due to the wide range of sizes, forms, styles, and quality of fasteners, the automotive sector is overrun with them.
In 2021, Tridur ZnNi H5.2 is an electroplating coating that was released by Atotech Deutschland GmbH. This coating can minimize contact corrosion for a variety of fasteners. It is possible to use the Tridur ZnNi H5.2 on zinc-nickel surfaces that are either alkaline or acidic.
MARKET DYNAMICS:
KEY DRIVERS:
The rising popularity of fuel-efficient and safer automobiles is fueling an increase in demand.
Recent advances in material composition and product development also boost the global market.
Several countries' strict rules are boosting the manufacturing and sales of electric vehicles.
RESTRAINTS:
Due to a lack of consumer knowledge about automobile parts, the market is expected to be restrained.
The demand is expected to be restrained by the high cost of automotive components.
OPPORTUNITIES:
Government rules for lightweight vehicles have contributed to technological advances in the region.
Improvements in fastener quality and design are being made by a variety of design firms.
Increasing the use of battery-powered systems in trains will increase the demand in battery packs and charging stations.
CHALLENGES:
There was an interruption in the supply chain due to a global shortage of raw materials.
Rising clenching and welding in automobile manufacturing limit fastener utilization.
IMPACT OF COVID-19:
COVID-19 has been spreading rapidly over the world, and automakers are taking severe measures to stop the epidemic by closing down their plants. As more European businesses go on strike and as automakers in the United States and Asia-Pacific prolong their work stoppages, the situation remains murky. The planned development of automobiles in North America is an attempt to slow the spread of the virus COVID-19. Even still, the outbreak's current worldwide hub is the area, with more confirmed cases being reported there every day than in any other place. There has been a combination of state or provincial, federal, and local government measures in the United States and Canada. Governments in certain countries appear to be enforcing increasingly restrictive rules on social engagement, travel, and work attendance. A similar set of circumstances affects these regions, and the car industry stands at the core of this upheaval, which has a significant impact on the economy and society.
KEY MARKET PLAYERS:
The Philips Screw Company (U.S.), Lisi Group (France), Permanent Technologies Inc. (U.S.), Atotech (Germany), KAMAX (Germany), SFS Group (Switzerland), Fontana Gruppo (Italy), Nifco Inc. (Japan), Kova Fasteners Pvt. Ltd. (India), Shanghai Tianbao Fastener International (U.S.), Bulten AB (Sweden), Westfield Fasteners Limited (U.K.) are some of the affluent competitors with significant market share in the Automotive Fasteners Market.
MARKET ESTIMATION:
Market, By Product:
The global market has been divided into Threaded, and Non-Threaded Based on products segment. It is expected that the threaded fastener segment will continue to hold the majority of the market share for the foreseeable future. The assembly and disassembly of numerous automobile parts and components can be facilitated with the use of threaded fasteners.
Market, By Material Type:
The global market has been divided into Stainless Steel, Iron, Bronze, Nickel, Aluminum, Brass, and Plastic Based on the material type segment. As far as materials go, steel fasteners occupy nearly 90% of the market share and are expected to take the lead in the future. The great tensile strength and corrosion resistance of the material are to blame. Aside from the corrosive environment of tropical and coastal areas, the steel fasteners play a significant function in protecting automobiles from corrosion.
Market, By Application:
The global market has been divided into Engine, Chassis, Transmission, Steering, Front/rear axle, Interior trim, and Others based on the application segment. The CAGR for wire harnesses is expected to be the highest of all automotive fastening applications. Fastening wire bundles, which are increasingly being used to secure automotive components, is a major factor in the overall growth of the Automotive Fastener Market.
MARKET SEGMENTATION:
By Product:
Threaded
Non-Threaded
By Material Type:
Stainless Steel
Iron
Bronze
Nickel
Aluminum
Brass
Plastic
By Application:
Engine
Chassis
Transmission
Steering
Front/rear axle
Interior trim
Others
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REGIONAL ANALYSIS:
The global market for automotive fasteners has been segmented into the following regions: North America, Europe, Asia-Pacific, and the Rest of the World. Due to the increasing number of automobiles sold in countries across Asia-Pacific, such as New Zealand, Australia, India, China, Japan, South Korea, and Indonesia, the market for fasteners is anticipated to experience growth in this region. In 2020, the automotive fasteners market will be dominated by the Asia Pacific region. Fasteners for automobiles are popular in China, India, and Japan. In 2020, China's share of global automotive fastener production is expected to be over 55%. As a result, India and Japan accounted for more than 28 percent of the overall production of automotive fasteners in the Asia Pacific area, which is related to a change from standard to customized automobile parts, as well as a rise in the per capita income of Asian consumers. During the projected period, electric vehicle adoption is expected to increase significantly in the Asia Pacific region. Consequently, the Asia Pacific market for automotive fasteners is likely to grow in the near future.
REGIONAL COVERAGE:
North America
The USA
Canada
Mexico
Europe
Germany
The UK
France
Italy
Spain
The Netherlands
Rest of Europe
Asia-Pacific
Japan
south Korea
China
India
Australia
Rest of Asia-Pacific
The Middle East & Africa
Israel
UAE
South Africa
Rest of Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
| Report Attributes | Details |
|---|---|
| Market Size in 2022 | US$ 23.33 Billion |
| Market Size by 2030 | US$ 29.56 Billion |
| CAGR | CAGR of 3% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2020-2021 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • by Product (Threaded, Non-Threaded) • by Material Type (Stainless Steel, Iron, Bronze, Nickel, Aluminum, Brass, Plastic) • by Application (Engine, Chassis, Transmission, Steering, Front/rear axle, Interior trim, Others) |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | The Philips Screw Company (U.S.), Lisi Group (France), Permanent Technologies Inc. (U.S.), Atotech (Germany), KAMAX (Germany), SFS Group (Switzerland), Fontana Gruppo (Italy), Nifco Inc. (Japan), Kova Fasteners Pvt. Ltd. (India), Shanghai Tianbao Fastener International (U.S.), Bulten AB (Sweden), Westfield Fasteners Limited (U.K.) |
| Key Drivers | •The rising popularity of fuel-efficient and safer automobiles is fueling an increase in demand. •Recent advances in material composition and product development also boost the global market. |
| RESTRAINTS | •Due to a lack of consumer knowledge about automobile parts, the market is expected to be restrained. •The demand is expected to be restrained by the high cost of automotive components. |
CAGR of Automotive Fasteners Market is 3% over the forecast period 2023-2030.
The major players are The Philips Screw Company (U.S.), Lisi Group (France), Permanent Technologies Inc. (U.S.), Atotech (Germany), KAMAX (Germany), SFS Group (Switzerland), Fontana Gruppo (Italy), Nifco Inc. (Japan), Kova Fasteners Pvt. Ltd. (India), Shanghai Tianbao Fastener International (U.S.), Bulten AB (Sweden), and others.
A fastener is a mechanical piece that holds or joins two or more things together in a way that is not permanent. Automotive fasteners are used to hold parts together, stop leaks, and make cars run better.
Asia Pacific region is dominate the Automotive Fasteners Market.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Global Automotive Fasteners Market Segmentation, By Product
8.1 Threaded
8.2 Non-Threaded
9. Global Automotive Fasteners Market Segmentation, By Material Type
9.1 Stainless Steel
9.2 Iron
9.3 Bronze
9.4 Nickel
9.5 Aluminum
9.6 Brass
9.7 Plastic
10. Global Automotive Fasteners Market Segmentation, By Application
10.1 Engine
10.2 Chassis
10.3 Transmission
10.4 Steering
10.5 Front/rear axle
10.6 Interior trim
10.7 Others
11. Regional Analysis
11.1 Introduction
11.2 North America
11.2.1 the USA
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 the UK
11.3.3 France
11.3.4 Italy
11.3.5 Spain
11.3.6 The Netherlands
11.3.7 Rest of Europe
11.4 Asia-Pacific
11.4.1 Japan
11.4.2 South Korea
11.4.3 China
11.4.4 India
11.4.5 Australia
11.4.6 Rest of Asia-Pacific
11.5 The Middle East & Africa
11.5.1 Israel
11.5.2 UAE
11.5.3 South Africa
11.5.4 Rest
11.6 Latin America
11.6.1 Brazil
11.6.2 Argentina
11.6.3 Rest of Latin America
12. Company Profiles
12.1 Lisi Group (France),
12.1.1 Financial
12.1.2 Products/ Services Offered
12.1.3 SWOT Analysis
12.1.4 The SNS view
12.2 The Philips Screw Company (U.S.)
12.3 Permanent Technologies Inc. (U.S.)
12.4 Atotech (Germany)
12.5 KAMAX (Germany)
12.6 SFS Group (Switzerland)
12.7 Fontana Gruppo (Italy)
12.8 Nifco Inc. (Japan)
12.9 Kova Fasteners Pvt. Ltd. (India)
12.10 Shanghai Tianbao Fastener International (U.S.)
12.11 Bulten AB (Sweden)
12.12 Westfield Fasteners Limited (U.K.)
13. Competitive Landscape
13.1 Competitive Benchmarking
13.2 Market Share analysis
13.3 Recent Developments
14. Conclusion
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