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Global Automotive Fasteners Market Forecast 2023-2032 - Size, Lucrative Segments And Leading Regions
Automotive Fasteners Market
The Business Research Company's Automotive Fasteners Global Market Report 2023 identifies increasing demand for electric vehicles as the major driver for the Automotive Fasteners market's growth in the forecast period. Electric vehicles refer to vehicles that have been either partially or fully powered by electricity. EV general infrastructure equipment and battery casings require high-quality fastenings to provide security settings.
The global automotive fasteners market size will grow from $27.38 billion in 2022 to $29.43 billion in 2023 at a compound annual growth rate (CAGR) of 7.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The size of automotive fasteners market is expected to grow to $37.42 billion in 2027 at a CAGR of 6.2%.
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Major competitors in the Automotive Fasteners market are Bulten AB, KAMAX, Sundram Fasteners, Stanley Black & Decker, Shanghai Tianbao Fastener Manufacturing Co. Ltd., Penn Engineering, Lisi Group.
A key trend in the Automotive Fasteners market includes new technological advancements. Major players operating in the automotive fasteners sector are focused on advanced technical improvements and enhancements to lead the market. For instance, in February 2020, Bulten, a Sweden-based supplier of fasteners to the international automotive industry, launched BUFOe, a new product line focusing on energy efficiency. A mix of materials and a manufacturing process are employed in Bulten's new product line, BUFOe, which eliminates the need for heat treatment and produces a fastener with a greatly reduced environmental effect.
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The Automotive Fasteners market is segmented -
• By Product: Threaded, Non-Threaded
• By Material Type: Iron, Steel, Aluminum, Brass, Plastic, Other Material Types
• By Propulsion: IC (Internal Combustion) Engine Vehicles, Electric Vehicles
• By Application: Engine, Chassis, Transmission, Steering, Front/Rear Axle, Interior Trim, Other Applications
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Automotive Fasteners market.
The Business Research Company's "Global Automotive Fasteners Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Automotive Fasteners Market Include:
1. Executive Summary
2. Table Of Contents
3. List Of Figures
4. List Of Tables
5. Report Structure
……………………………………………………..
19. Company Profiles
20. Key Mergers and Acquisitions
21. Opportunities And Strategies
22. Conclusions And Recommendations
23. Appendix
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