Press release
Automotive Fasteners Market is projected to reach to USD XX.XX Million by 2022| Major Vendors are - Phillips Screw, Permanent Technologies, Inc., Fastener Technology, Atotech, Shanghai Tianbao, Fastener Manufacturing Co., Ltd., Shamrock International, Sta
The mechanical parts that connect two or more parts of a vehicle are called automotive fasteners. These products are not permanently joined, which allows you to assemble or disassemble parts of the vehicle without damaging any part. Different materials, namely, iron, stainless steel, aluminum, nickel, brass and plastic are used to make fasteners for motorized vehicles. The latter can be customized to produce different types of shapes and designs. Various coatings are used to counteract oscillations and leaks in the joints. Currently, threaded fasteners, which have internal and external threads and find use for assembly and disassembly, are experiencing increasing demand in the market for automotive fasteners. Threaded fasteners, in addition to being made of screws that show maximum absorption, also consist of nuts, rivets and bolts. According to the characteristics, the closures of automobiles are of three types: permanent, semi-permanent and demountable. Among them, the Semi-Permanent owns most of the market due to its widespread use in a range of components.
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Automotive Fasteners Market Value:
According to the research report, the Automotive Fasteners Market was valued at USD XX Million in 2016, and it is expected to reach at USD XX Million by the end of the 2022, with increasing a CAGR of XX% during the forecast period 2016-2022
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Automotive Fasteners Market Drivers and Restraints:
Massive demand for automotive fasteners is at the forefront of demand in the global market. In fact, demand has exploded in the last two years due to the greater spending capacity of the population and the increasing urbanization in the world. In addition, the emergence of more advanced automotive technology and higher quality materials, generating a greater number of advanced automotive fasteners also has a positive impact on the market. The easily replaceable nature of automobile fasteners, forcing consumers to buy those from their vehicles is influencing the secondary automotive market. On the other hand, alternatives such as welding and pressing prevent the automotive fastener market from reaching its maximum potential. In addition, the increase in the number of mechanical assembly parts in a single vehicle chassis also slows down the market. However, the market will increase steadily due to the increase in car sales. In particular, passenger vehicles contribute due to the strong demand for passenger cars and the lower rates of car loans. Commercial vehicles also generate sales of automobile closures.
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Automotive Fasteners Market Geographical segmentation:
Geographically, the Asia-Pacific region ranks first in the motor vehicle accessories market, driven mainly by the main developing economies of India and China. The production and consumption of passenger vehicles and commercial vehicles is high in both regions due to its large population and growing wealth. While consumption is high due to their rapidly developing economies that have lifted millions of people out of poverty and given them money to improve their lifestyle, production is also high due to cheaper land and labor.
Automotive Fasteners Market Key Players:
Among the main players in the automotive fastener market are Phillips Screw, Permanent Technologies, Inc., Fastener Technology, Atotech, Shanghai Tianbao, Fastener Manufacturing Co., Ltd., Shamrock International, Stanley Fasteners, Acument Global Technologies, Jiangsu Xing Chang Jiang International Co., Ltd., Nifco Inc., KOVA Fasteners Pvt Ltd., Bulten AB, Westfield Fasteners Limited, APL and Birmingham Fastener and Supply Inc.
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