Press release
Automotive Fasteners Market to Grow to US$ 36.85 Bn by 2032 - Persistence Market Research
Automotive Fasteners Market
The global automotive fasteners market is poised for significant growth in the coming years, with an estimated market size of USD 24.67 billion in 2025. This market is projected to grow at a compound annual growth rate (CAGR) of 5.9%, reaching USD 36.85 billion by 2032. The automotive fasteners market encompasses a wide variety of fastening solutions used in the manufacturing of vehicles, such as bolts, nuts, screws, washers, and other components that hold automotive structures and parts together. The increasing demand for lightweight materials, the rise of electric vehicles (EVs), and technological advancements in vehicle manufacturing are key drivers of this market's expansion.
A significant portion of this growth is attributed to the accelerating production rates of electric vehicles and the rising adoption of lightweight materials, driven by stringent fuel efficiency and emissions regulations. Additionally, the market is benefiting from increased vehicle customization, which necessitates innovative fastening solutions. Threaded fasteners, in particular, are expected to dominate the market, accounting for a major share due to their versatile use in critical applications such as engine assembly, structural components, and drivetrain systems. Geographically, Asia Pacific is anticipated to hold the largest market share, largely driven by the growing automotive production in countries like China, India, and Japan, along with rising disposable incomes and demand for electric vehicles.
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Key Highlights from the Report
• The global automotive fasteners market size is estimated at USD 24.67 billion in 2025.
• The market is expected to grow at a CAGR of 5.9%, reaching USD 36.85 billion by 2032.
• Threaded fasteners are predicted to lead the market, holding a share of 66.8% in 2025.
• The passenger car segment is projected to account for 48.3% of the market share in 2025.
• North America is forecast to hold 28.3% of the market share in 2025 due to rising EV production.
• Asia Pacific is anticipated to dominate the global market, with a share of 37.9% in 2025.
Market Segmentation
The automotive fasteners market can be broadly segmented based on product type, application, material type, and vehicle type.
• By Product Type: Automotive fasteners are primarily divided into threaded and non-threaded categories. Threaded fasteners dominate the market, accounting for a large portion of global demand. These fasteners are commonly used for critical automotive applications such as engine assembly, drivetrain systems, and structural components. Non-threaded fasteners, while a smaller segment, are also used for specific applications requiring a secure yet removable fastening solution.
• By Vehicle Type: The passenger car segment is the largest market for automotive fasteners, due to the high demand for personal vehicles globally. The increasing trend towards lightweight vehicles and electric vehicles (EVs) is further accelerating the demand for specialized fasteners in this category. The commercial vehicle segment, including light and heavy commercial vehicles, is also growing as these vehicles require robust and durable fastener solutions to support their heavier structural components and systems.
Regional Insights
• North America: North America is expected to experience significant growth in the automotive fasteners market, accounting for 28.3% of the total share in 2025. The demand for fasteners in this region is closely tied to the rapid increase in EV production, with companies like Tesla, General Motors, and Ford playing a crucial role. The region is likely to experience a steady CAGR of 4.9% from 2025 to 2032. Government policies, such as the U.S. Inflation Reduction Act, are also helping drive advancements in automotive manufacturing, creating a favorable environment for fastener innovations.
• Asia Pacific: Asia Pacific is anticipated to hold the largest market share of 37.9% by 2025, driven by the rapid expansion of automotive production in countries like China, India, and Japan. The region is witnessing an increase in vehicle demand, particularly in the electric vehicle segment, with manufacturers like BYD and Tata Motors leading the charge. Local production initiatives such as India's 'Make in India' campaign are further fueling growth, along with significant investments in research and development by automotive giants like Denso Corporation.
Market Drivers
Several factors are contributing to the growth of the automotive fasteners market:
1. Surge in Electric Vehicle Production: The increasing production of electric vehicles (EVs) requires specialized fasteners for battery systems, electrical components, and lightweight structures. Manufacturers are continuously innovating to develop fasteners that can support high-performance, high-voltage systems while maintaining structural integrity.
2. Rising Demand for Lightweight Materials: As governments worldwide impose stricter fuel efficiency and emissions regulations, automakers are increasingly turning to lightweight materials like aluminum, composites, and plastics. Fasteners designed for these materials are critical in ensuring vehicle safety, structural integrity, and improved fuel economy.
3. Technological Innovations: The adoption of smart fasteners, such as those embedded with sensors for real-time monitoring, is transforming the market. These fasteners offer greater reliability and enhance the overall safety and efficiency of automotive systems, particularly in electric and autonomous vehicles.
Market Restraints
While the automotive fasteners market is growing, certain factors may hinder its progress:
1. Raw Material Price Fluctuations: Volatility in the prices of raw materials, particularly steel and aluminum, can significantly affect the cost structure of automotive fasteners. For example, in 2024, a 12% rise in steel prices led to increased manufacturing costs, prompting manufacturers to explore alternative materials.
2. Supply Chain Disruptions: Global supply chain disruptions, exacerbated by events such as the COVID-19 pandemic and geopolitical tensions, have led to delays in fastener production and delivery. Manufacturers are now looking for local supply chain solutions to mitigate risks and ensure timely availability of components.
3. Regulatory Challenges: Stricter regulations regarding material sustainability and recycling in the automotive industry are pushing fastener manufacturers to adopt eco-friendly materials and production methods, which can increase costs and complicate the manufacturing process.
Market Opportunities
1. Artificial Intelligence in Manufacturing: The integration of artificial intelligence (AI) into the automotive manufacturing process is an opportunity for fastener manufacturers. AI can enhance production efficiency, reduce human error, and facilitate the development of customized fasteners for electric and autonomous vehicles.
2. Growing Aftermarket Industry: As vehicle customization becomes more popular, there is increasing demand for automotive fasteners in the aftermarket sector. Customized vehicles require specialized fasteners to accommodate new parts and systems, offering lucrative opportunities for fastener manufacturers.
3. Development of Eco-friendly Fasteners: The demand for sustainable automotive solutions is driving the need for eco-friendly fasteners. Manufacturers are focusing on producing fasteners made from recyclable materials and those with reduced environmental impact, which aligns with the growing trend of green technologies in the automotive industry.
Frequently Asked Questions (FAQs)
• How Big is the Automotive Fasteners Market?
• Who are the Key Players in the Global Automotive Fasteners Market?
• What is the Projected Growth Rate of the Automotive Fasteners Market?
• What is the Automotive Fasteners Market Forecast for 2032?
• Which Region is Estimated to Dominate the Automotive Fasteners Industry through the Forecast Period?
Company Insights
Key players in the automotive fasteners market include:
• Bulten AB
• Stanley Black & Decker
• Sundram Fasteners
• KAMAX
• SFS Group
• Lisi Group
Recent Developments:
1. Sundram Fasteners secured EV orders in India, expanding its manufacturing capacity and product portfolio for electric vehicles.
2. Stanley Black & Decker introduced high-strength bolts specifically designed for electric vehicle platforms, addressing the demand for lightweight and energy-efficient vehicle components.
With an array of innovative products and significant growth prospects, the automotive fasteners market is set to thrive in the coming years, propelled by technological advancements, evolving vehicle designs, and a growing focus on sustainability.
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