Industrial Fasteners Market Poised for Significant Growth Till 2023

October 25, 2018 - ROGM - Research On Global Markets, a global market research firm, published a report on the global and Indian industrial fasteners market. The report, prepared by Netscribes, shows that the global market for industrial fasteners is expected to have a significant compound annual growth rate (CAGR) of 6.5% and will reach a market size of 7,706 Bn by 2023. In India, the market is expected to be worth INR 460 Bn by 2023, expanding at a CAGR of 9.6%.

Rising demand for fasteners in the automotive industry, coupled with an increase in expenditure on construction and manufacturing in emerging countries like China, Brazil, Saudi Arabia, Australia, Indonesia and India are expected to drive the demand for industrial fasteners during the forecast period. However, lack of product differentiation and elasticity of prices of raw materials - such as alloys, stainless steel and copper - are hindering the growth of the market.

In India, thanks to the government’s ‘Make in India’ initiative, the manufacturing sector is expected to generate a huge demand for industrial fasteners in the foreseeable future. Growing usage of fasteners for manufacturing automotive parts such as engines, chassis, moulding, suspension system and wheels, among others, is also expected to drive the growth of the Indian industrial fasteners market. However, the increasing prices of raw materials can pose a serious threat to the growth of this market.

Key highlights of this report:
• Historical, current and forecasted market size data for the global industrial fasteners market
• Historical, current and forecasted market size data for the Indian industrial fasteners market
• Qualitative analysis of the global industrial fasteners market and its segments
• Qualitative analysis of the Indian industrial fasteners market and its segments
• Qualitative analysis of the major drivers and challenges affecting the global industrial fasteners market
• Qualitative analysis of the major drivers and challenges affecting the Indian industrial fasteners market
• Analysis of the competitive landscape and profiles of major players operating in the global and Indian market

This report has been formulated and designed with the purpose of giving businesses a concise understanding of the demand for industrial fasteners in India as well as globally to determine the viability of the market, develop strategies based on the drivers, and help brands identify competition and respond accordingly.

For more information, download the Industrial Fasteners Market Global and India report.
https://www.researchonglobalmarkets.com/industrial-fasteners-market-global-and-india-2018-2023.html

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