Press release
Industrial Fasteners Market Is Expected To Witness Growth On Account Of Increasing Government Investments In Commercial Aircraft & Aerospace In Asia Pacific Region Till 2020
Externally threaded fasteners were the largest product segment and accounted for over 45% of market share in 2013. Growth can be attributed to increasing use of fasteners in the automotive OEM, machinery OEM and construction industry.
Further key findings from the study suggest:
• Automotive OEM was the second largest application market accounting for over 20% of revenue share in 2013 and is expected to show significant growth over the forecast period as a result of increasing production of automobiles in China, Japan, Australia, Mexico, U.S. and India.
• Construction is expected to witness swift demand growth at an estimated CAGR of 6.9% from 2014 to 2020, due to rising government funding for large scale infrastructure and residential construction in emerging markets of China, Argentina, India, Saudi Arabia and Indonesia.
• Asia Pacific was the largest regional market accounting for over 30% revenue share in 2013 and is expected to witness growth at an estimated CAGR of around 7% from 2014 to 2020, owing to increasing production of motor vehicles, industrial machinery and electrical & electronic components. In addition, growing construction industry in China, Japan, India, Thailand, Australia, South Korea and Taiwan is expected to further fuel market growth.
• Key market participants include Acument Global Technologies, ITW, Nifco, LISI Group, Alcoa, Standard Fasteners Ltd., Dokka Fasteners, Kova Fasteners Pvt. Ltd., Hilti, Penn Engineering, Precision Castparts Corp., EJOT, ATF Inc., Stanley Black & Decker and MW Industries Inc. Various companies are employing nanocomposite material processing technique for the production of aerospace fasteners which is anticipated to improve performance characteristics along with cost reduction.
For the purpose of this study, Grand View Research has segmented the global industrial fasteners market on the basis of product, application and region:
Global Industrial Fasteners Product Outlook (Revenue, USD Million, 2012 - 2020)
• Externally Threaded
• Aerospace Grade
• Other Standard Fasteners
Global Industrial Fasteners Application Outlook (Revenue, USD Million, 2012 - 2020)
• Automotive OEM
• Machinery OEM
• Construction
• MRO
• Other OEM
Global Industrial Fasteners Regional Outlook (Revenue, USD Million, 2012 - 2020)
• North America
• Europe
• Asia Pacific
• RoW
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
Press Contact
Sherry James - Corporate Relations Specialist
28 2nd Street, Suite 3036
San Francisco, CA 94105
United States
Phone: 1-415-349-0058
Email: sales@grandviewresearch.com
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