Automotive Fasteners Market is Forecasted to Reach US$ 28.7 billion in 2030, Says Stratview Research

The global automotive fasteners market is projected to witness a growth rate of 2.2% annually from 2024 to 2030, with an anticipated size of US$ 28.7 billion by 2030, according to an analysis by Stratview Research.

Stratview Research, a global market research firm has launched a report on the global automotive fasteners market which provides a comprehensive outlook of the global and regional market, industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.

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Report Highlights:
Market Size in 2030: US$ 28.7 billion
Growth (CAGR): 2.2% during 2024-2030
Forecast Period: 2024-2030
Trend Period: 2018-2022
Base Year: 2023
Number of Segments Covered: 7
Number of Tables & Graphs: 100+
Country-Level Market Assessment: 20

Segment Insights on the Automotive Fasteners Market:

The global automotive fasteners market is segmented based on vehicle type, powertrain type, material type, threading type, application type, fastener type, and region.

Based on vehicle type - Light vehicles (LV) are anticipated to drive the highest demand for automotive fasteners during the forecast period.
• The automotive fasteners market is segmented into LV and M&HCV. Despite using fewer fasteners than their medium and heavy counterparts, light vehicles are projected to drive the highest demand in the forecasted period.
• LV (light vehicle) includes passenger cars and LCVs (light commercial vehicles). Increasing motorization rate and higher production of passenger cars and LCVs are the key factors behind its dominance.

Based on material type - Metal is expected to remain the dominant material type of the market during the forecast period.
• In terms of material type, the market is segmented into metal fasteners and plastic fasteners.
• Metal is the most preferred material type in the market owing to its advantages, such as high tensile strength, resistance to rust and heat, shockproof, recyclable, versatility, compatibility with coatings, cost-effectiveness, high machinability, and resistance to wear and tear.
• Plastic is expected to remain the fastest-growing material type during the forecast period owing to its properties, such as lightweight, cost-efficient production, corrosion resistance, excellent electrical insulation, design flexibility, and eco-friendly innovations.

Based on threading type - Threaded fasteners are projected to maintain their dominance and experience faster growth in the market throughout the forecast period.
• In terms of threading type, the market is segmented into threaded and non-threaded fasteners.
• Threaded fasteners provide reliable and easily removable joints, and hence, they are applicable in many automobile parts, ensuring their continued demand and growth.
• Threaded fastener's ability to be easily assembled, disassembled, and reused for repairs or maintenance contributes to their widespread use and market expansion.

Based on application type - Body-in-white is the widely used application in the automotive fasteners market and is expected to retain its dominant position in the forecasted period.
• In terms of application type, the market is segmented into body in white, engine & powertrain, chassis, interiors, exteriors, and others.
• Body-in-white is the base of a car and needs many fasteners to provide strength and stiffness to the structure. Thus, the demand for this segment remains high.
• Vehicle bodies are subjected to stringent safety regulations, which include fasteners for securing components. Trends towards lightweight car body construction also require specialized fasteners. The fasteners used for the body in the white application must be adapted to these new designs and performance specifications.

Based on fastener type - Rivets represent the largest fastener type, whereas nuts hold the second leading position in the market.
• In terms of fastener type, the market is segmented into clips, nuts, bolts, screws, rivets, and others.
• Rivets hold the dominant position in the market. Technological advancements within assembly methods, including self-piercing rivets and automated riveting systems, drive the demand for rivets in modern automotive assembly processes.
• Nuts hold the second dominant position in the market. Nuts play a crucial role in automotive fasteners owing to their versatility, cost-effectiveness, strength, and adaptability to various materials and applications. Key applications of nuts include engines, suspension, chassis, interior components, and body assemblies. They are compatible with bolts, screws, and threaded studs, making them versatile fasteners.

To know the most attractive segments, click here:
https://www.stratviewresearch.com/439/Automotive-Fastener-Market.html

Which Region Shows the Most Promising Growth Forecast and Opportunity?

The analysis suggests that Asia-Pacific is expected to remain the largest market for automotive fasteners during the forecast period. This growth outlook is majorly attributed to the following-

• The market is segmented by region into North America, Europe, Asia-Pacific, and the Rest of the World.
• Asia-Pacific is the manufacturing hub of the automotive industry. It significantly contributes to the global production of both light and heavy vehicles, which drives the demand for automotive fasteners. The region is home to key automotive manufacturers such as Toyota, Honda, Hyundai, Kia, Tata Motors, and Nissan.
• China is the largest country in the global and Asia-Pacific fasteners market, owing to its status as the largest automotive manufacturer. It offers cost-effective production, technological advancements, a rising vehicle fleet, and a strong push toward electric vehicles.
• Europe and North America are also projected to generate sizeable demand for automotive fasteners during the forecast period. The USA, Germany, France, and the UK are key markets for automotive fasteners due to their innovation, manufacturing excellence, and strong automotive industry.

Automotive Fasteners Market Drivers:

Some of the key drivers listed in the report are given below.
The key drivers of the automotive fasteners market are the rising production of passenger and commercial vehicles globally, an increase in motorization rate, the development of advanced lightweight materials and unique fasteners for fuel efficiency and safety, customization and modular vehicle designs create a need for more fasteners, expansion in EV, and stringent safety regulations which includes advanced and high-strength fasteners for securing components.

Top Companies in the Automotive Fasteners Market:
Stratview Research has identified the following companies as the top market players (Based on Dominance).
• ITW
• Aoyama Seisakusho Co., Ltd.
• Nifco Inc.
• Shanghai Prime Machinery Co., Ltd.
• Stanley Black & Decker, Inc.
• Kamax Group
• Lisi Automotive

What Unique Insights Does this Report Offer?
This report provides comprehensive insights into the Automotive Fasteners Market, answering critical questions like:
• How big is the sales opportunity?
• Which regions offer the best sales opportunities?
• Which are the most attractive market segments?
• Which are the top players and their market positioning?
• How complex is the business environment?
• What are the factors affecting the market?

For Customization or Any Other Queries, Get in Touch with Our Industry Experts at - sales@stratviewresearch.com

Related Reports:
• Electric Vehicle (EV) Fasteners Market: https://www.stratviewresearch.com/3903/electric-vehicle-ev-fasteners-market.html
• Aircraft Titanium Fasteners Market: https://www.stratviewresearch.com/356/Aircraft-Titanium-Fasteners-Market.html

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