Industrial Fasteners Market Is Forecasted to Progress at A Steady CAGR of 5.1% BY 2032

The industrial fasteners Market worldwide was valued at US$ 102.8 billion in 2022, and by the end of 2032, it is expected to have grown at a steady CAGR of 5.1% to reach US$ 168.7 billion. Industrial fasteners are high-quality fastening items that serve as glue to firmly join various pieces in various industries. Fasteners are necessary for a variety of industries, including aircraft, construction, and transportation. Governments from all around the world are investing a lot of money in constructing and modernizing their aerospace and defense facilities.

Due to the rising demand from the transportation sector, particularly the automobile and railroad sectors, the market for industrial fasteners is expected to expand significantly. The automotive industry offers a diverse range of application scenarios, and each car uses between 50 and 90 kg of fasteners on average.

𝗗𝗼𝘄𝗻𝗹𝗼𝗮𝗱 𝗦𝗮𝗺𝗽𝗹𝗲 𝗖𝗼𝗽𝘆 𝗼𝗳 𝗧𝗵𝗶𝘀 𝗥𝗲𝗽𝗼𝗿𝘁-
https://www.factmr.com/connectus/sample?flag=S&rep_id=5679?PJ

To create specifically adapted vehicle fasteners, several automakers are collaborating with coating and fastener producers.

For instance, Greeknote, a leading manufacturer of anti-corrosion coatings, has created G5K, which provides coating performance for at least 5,000 hours and eliminates the issue of hydrogen embrittlement on fasteners.

The automotive industry has experienced steady demand from emerging markets. Large oil & gas producing nations such as Russia and the U.S. have been constantly undertaking the cyclical maintenance of their refineries to produce highly marketable oil & gas products.

Short Term (2022 Q2 to 2025): Growing transportation, power generation, and automobile industries will positively impact industrial fasteners market growth.

Medium Term (2025-2028): China and the U.S. are projected to witness comparatively higher demand for industrial fasteners due to their large construction and automobile industries.

Long Term (2028-2032): Automation, as a result of Industry 4.0, will lead to some modifications in fasteners so that they can be adapted to end-use industries. Upgraded features such as compact size, vast work envelopes, high speed, accuracy.

From 2017 to 2021, the global market for industrial fasteners registered a CAGR of 2.1%. Fact.MR, a market research and competitive intelligence provider, predicts that the market will exhibit growth at 5.1% CAGR between 2022 and 2032.

𝗞𝗲𝘆 𝗧𝘆𝗽𝗲𝘀 𝗼𝗳 𝗜𝗻𝗱𝘂𝘀𝘁𝗿𝗶𝗮𝗹 𝗙𝗮𝘀𝘁𝗲𝗻𝗲𝗿𝘀:

Bolts: Bolts are threaded fasteners that typically require a nut for secure fastening. They come in various shapes, sizes, and materials to suit different applications.

Nuts: Nuts are used in conjunction with bolts to create a threaded connection. They come in different types, such as hex nuts, lock nuts, and wing nuts.

Screws: Screws are versatile fasteners with threads designed to create their mating threads when turned. They are commonly used in woodworking, metalworking, and construction.

Rivets: Rivets are permanent fasteners that create a strong, secure connection by deforming and clamping two or more materials together.

Washers: Washers are used with bolts and nuts to distribute load, reduce friction, and prevent surface damage.

𝗞𝗲𝘆 𝗧𝗮𝗸𝗲𝗮𝘄𝗮𝘆𝘀 𝗳𝗿𝗼𝗺 𝗠𝗮𝗿𝗸𝗲𝘁 𝗦𝘁𝘂𝗱𝘆

The global industrial fasteners market is projected to grow 1.6X and reach US$ 168.7 billion by 2032.

Between 2017 and 2021, the market exhibited 2.1% CAGR.

Under product type, bolts dominate the market with US$ 20.1 billion valuation in 2022.

The transportation segment is currently valued at US$ 23.1 billion.

Europe leads the global market with 26.9% share in 2021.

𝗦𝗲𝗴𝗺𝗲𝗻𝘁𝗮𝘁𝗶𝗼𝗻 𝗼𝗳 𝗜𝗻𝗱𝘂𝘀𝘁𝗿𝗶𝗮𝗹 𝗙𝗮𝘀𝘁𝗲𝗻𝗲𝗿𝘀 𝗜𝗻𝗱𝘂𝘀𝘁𝗿𝘆 𝗥𝗲𝘀𝗲𝗮𝗿𝗰𝗵

𝗕𝘆 𝗠𝗮𝘁𝗲𝗿𝗶𝗮𝗹 :
Metal
Steel
Stainless Steel
Alloy Steel
Copper & its Alloys
Aluminum
Titanium
Nickel & its Alloys
Others
Polymer

𝗕𝘆 𝗧𝘆𝗽𝗲 :
Screws
Wood Screws
Machine Screws
Thread Cutting Machine Screws
Sheet Metal Screws
Self-Drilling
Socket Screws
Others
Nuts
Hexagon Nuts
Flange Nuts
Wing Nuts
Kep Nuts
Push Nuts
Castle Nuts
Coupling Nuts
Pal Nuts
Others
Bolts
Track Bolts
Square Bolts
Plow Bolts
Round Bolts
Lag Bolts
Aircraft Bolts
J-Bolts
U-Bolts
Shoulder Bolts
Elevator Bolts
HR Bolts
HV Bolts
Others
Washers
Lock Washers
Structural Washers
Others
Anchors
Dowel Pins

𝗕𝘆 𝗔𝗽𝗽𝗹𝗶𝗰𝗮𝘁𝗶𝗼𝗻 :
Chemical Industry
Heat Exchangers
Exhaust Systems
Tanks and Vessels
Processing Equipment
Petrochemical Industry
High Pressure Pumps & Vessels
Pumping Stations
MeterinPumps
Others
Transportation
Railways
Trains
Infrastructure
Marine
Decks
Tanks
Ramps
Bulkheads
Others
Automotive
Power Generation & Transmission
Renewable
Onshore
Electrical Equipment
Turbines
Motors
Exhaust Systems
Pumping Systems
Storage Vessels
Offshore
Non-renewable
Construction
Precious Metal Mining
Industrial Metal Mining
Mining
Agriculture
Aerospace & Defense

𝗕𝘆 𝗦𝗮𝗹𝗲𝘀 𝗖𝗵𝗮𝗻𝗻𝗲𝗹 :
Online
Direct to Customer
Third-Party Online
Offline
Authorized Distributors
Garages & Workshops
Specialty Stores

𝗠𝗮𝗿𝗸𝗲𝘁 𝗗𝗿𝗶𝘃𝗲𝗿𝘀:

Several factors drive the demand for Industrial Fasteners:

Construction and Infrastructure Development: Rapid urbanization and infrastructure projects fuel the demand for fasteners used in building construction, bridges, and roads.

Manufacturing and Industrial Production: Fasteners are critical components in machinery, equipment, and manufacturing processes, supporting the growth of industrial sectors.

Automotive Industry: The automotive sector is a major consumer of fasteners for assembling vehicles, including passenger cars, trucks, and commercial vehicles.

Energy and Renewable Energy: The expansion of the energy sector, including wind and solar energy projects, requires a significant supply of fasteners for infrastructure and equipment.

Maintenance and Repair: Ongoing maintenance and repair activities across industries sustain the demand for replacement fasteners.

𝗚𝗲𝘁 𝗖𝘂𝘀𝘁𝗼𝗺𝗶𝘇𝗮𝘁𝗶𝗼𝗻 𝗼𝗻 𝘁𝗵𝗶𝘀 𝗥𝗲𝗽𝗼𝗿𝘁 𝗳𝗼𝗿 𝗦𝗽𝗲𝗰𝗶𝗳𝗶𝗰 𝗥𝗲𝘀𝗲𝗮𝗿𝗰𝗵 𝗦𝗼𝗹𝘂𝘁𝗶𝗼𝗻𝘀 -
https://www.factmr.com/connectus/sample?flag=RC&rep_id=5679?PJ

𝗙𝘂𝘁𝘂𝗿𝗲 𝗢𝘂𝘁𝗹𝗼𝗼𝗸:

The Industrial Fasteners market is expected to witness continued growth, driven by factors such as ongoing construction and infrastructure projects, industrial expansion, and automotive production. Key trends for the future include:

Smart Fasteners: The integration of sensors and IoT technology into fasteners for real-time monitoring of fastener integrity and performance.

Lightweight Materials: As industries seek to reduce weight and improve fuel efficiency, the demand for fasteners designed for use with lightweight materials like composites and aluminum is expected to increase.

Sustainability: Environmental regulations and sustainability goals will drive the development of eco-friendly fasteners and coatings with reduced environmental impact.

3D Printing: Additive manufacturing (3D printing) is being explored for fastener production, offering design flexibility and customization.

Global Expansion: Fastener manufacturers are likely to expand their global presence, especially in emerging markets, to cater to growing demand.

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Fact.MR is a market research and consulting agency with deep expertise in emerging market intelligence. Spanning a wide range - from automotive & industry 4.0 to healthcare, technology, chemical and materials, to even the most niche categories.

This release was published on openPR.