Lucintel anticipates that Asia Pacific and ROW will be the fastest growing regions in the automotive fastener market
According to a new market report published by Lucintel, the future of the global automotive fastener market looks promising with opportunities in the passenger car and light commercial vehicle segment. The global automotive fastener market is expected to reach an estimated $25.9 billion by 2022 and it is forecast to grow at a CAGR of 3.1% from 2017 to 2022.
The major growth drivers for this market are increasing vehicle production and increasing migration of OEMs from standard fasteners to customized fasteners.
In terms of materials, various type of fasteners are used which includes iron aluminum, brass, stainless steel nickel, and plastics.
By product type, threaded and non-threaded fasteners are the major segments of the automotive fastener market. Threaded fastener is expected to remain the largest market, as it offers high corrosion resistance and durable bond than non-threaded fasteners.
Fasteners are used to join car body, chassis, powertrain, and electric mechatronics. The powertrain and electric mechatronics segment will be the fastest growing market, integration of new features and technological advancements in vehicles will results in the growth of the powertrain and electric mechatronics segment.
By characteristics, removable fasteners, permanent fasteners, and semi-permanent fasteners are the major segments of the automotive fastener market. Permanent fastener segment is expected to remain the largest segment due to its increasing penetration in light commercial vehicle market.
By end user, OEM and aftermarket are the major segments of the automotive fastener market. OEM segment is expected to remain the largest segment due to increasing vehicle production and technological advancement.
Zinc coating, passive coating, cadmium coating, and dry film lube coating are the major segments of the automotive fastener market by coating type. Zinc coating is the largest segment as it is considered as non-toxic and low cost galvanizing coatings, which are mostly preferred by OEMs and auto component manufacturer.
Nuts, bolts, screws, and rivets are the major market segment by fastener type. 1 inch (M6), 1.2 and 1.25 inch (M8) fasteners are the dominating segment by fastener size.
Asia Pacific and ROW are expected to experience significant growth over the forecast period because of high vehicle production over the forecast period.
Emerging trends, which have a direct impact on the dynamics of the industry, include the development of light weight material fasteners and introduction of self-contained in-die fasteners. Stanley Engineered Fastening, Bulten AB, Sundaram Fasteners Ltd, Illinois Tool Works, and Trifast plc are the major suppliers in the global automotive fastener market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global automotive fastener market by product type, material type, coating type, characteristics, end user, type, application, vehicle type, and region. Lucintel has compiled a comprehensive research report entitled “Growth Opportunities in the Global Automotive Fastener Market 2017-2022: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions.
The study includes a forecast for the global automotive fastener market by product type, material type, coating type, characteristics, end user, type, application, vehicle type, and region, as follows:
By Product Type ($ Million from 2011 to 2022)
- Threaded Fasteners
- Non-threaded Fasteners
By Characteristic ($ Million from 2011 to 2022)
- Removable Fasteners
- Permanent Fasteners
- Semi-Permanent Fasteners
By Coating Type ($ Million from 2011 to 2022)
- Zinc Coating
- Passive Coating
- Cadmium Coating
- Dry Film Lube Coating
By Material Type ($ Million from 2011 to 2022)
- Stainless Steel
By End User ($ Million from 2011 to 2022)
By Fastener type ($ Million from 2011 to 2022)
By Application ($ Million from 2011 to 2022)
- Car body
- Electric Mechatronics
By Vehicle Type ($ Million from 2011 to 2022)
- Passenger Car
- Light Commercial Vehicle
- Heavy Commercial vehicle
By Region [Volume (Million Units) $ Million from 2011 to 2022]
- North America
- o US
- o Canada
- o Mexico
- o United Kingdom
- o France
- o Germany
- o Italy
- o Russia
- Asia Pacific
- o China
- o India
- o Japan
- o Indonesia
- o South Korea
- The Rest of the World
- o Brazil
- o Turkey
This 283-page research report will enable you to make confident business decisions in this globally competitive marketplace.
For more information:Make an Inquiry about this report HERE!