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Automotive Fastener Market Regional Growth Drivers, Opportunities and Trends 2021-2027|Stanley Engineered Fastening, Illinois Tools Work Inc, Sundarm Fasteners
The global Automotive Fastener market was valued at 2174.04 Million USD in 2020 and will grow with a CAGR of 2.54% from 2021 to 2027. The market is expected to rise as a result of factors such as increased vehicle production, a shift toward lighter vehicles, and more usage of electronics in vehicles. Furthermore, manufacturers are moving away from standard fasteners and toward customised fasteners, which will fuel the industry.In emerging countries, the production of passenger cars has increased dramatically. SUVs and premium automobiles are in great demand in developed countries in Europe and North America, which will boost demand for passenger cars even more. In addition, premium vehicle demand in India and China has increased in recent years. These reasons have increased demand for fasteners in the passenger automobile segment around the world.
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Top Key Players Included in Automotive Fastener Market Report: Stanley Engineered Fastening, Illinois Tools Work Inc, Sundarm Fasteners, Bulten AB, Trifast, Koninklijke Nedschroef Holding B.V, Penn Engineering & Manufacturingoration, Phillips Screw, Rocknel Fastener, Precision Castparts
North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa are the five regions that make up the worldwide Automotive Fastener market. Due to cheap labour costs, lower capital investment for manufacturers, rising demand for Australian origin, and an increase in cell maintenance banks and speciality research institutes, Asia Pacific is likely to continue to expand. As new and technologically advanced items are initially introduced in the country, large expenditures in research and development are made, and demand from research institutes grows, North America is likely to dominate the global market.
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Automotive Fastener Market segment by Type:
Iron
Nickel
Brass
Stainless Steel
Aluminum
Automotive Fastener Market segment by Application:
Passenger Car
Commercial Vehicle
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