Press release
Automotive Fasteners Industry Report 2025-2034: Market Dynamics, Trends, And Forecasts
Automotive Fasteners
What Is the Expected Automotive Fasteners Market Size During the Forecast Period?
Recent years have witnessed stable growth in the automotive fasteners market size. The projections suggest that it will expand from $28.23 billion in 2024 to $28.98 billion in 2025, indicating a compound annual growth rate (CAGR) of 2.6%. The growth witnessed during the historic period can be credited to a surge in the production of automobiles, growing demand for commercial vehicles, and robust economic progress in upcoming markets.
The market size of automotive fasteners is forecasted to enjoy consistent advancement in the coming years, with a projection to reach $32.36 billion in 2029 and an accumulated annual growth rate of 2.8%. The upswing during this forecasted period is predicted to be driven by rising demand for electric cars and favourable governmental regulatory measures. The major trends anticipated within this period extend to the introduction of self-clinching fasteners, the development of advanced technological solutions, the initiation of lightweight carbon fiber fasteners, the release of new and novel products, as well as the undertaking of strategic partnerships and collaborations.
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What Are the High-Growth Segments in the Automotive Fasteners Market?
The automotive fasteners market covered in this report is segmented -
1) By Product: Threaded, Non-Threaded
2) By Material Type: Iron, Steel, Aluminium, Brass, Plastic, Other Material Types
3) By Propulsion: IC (Internal Combustion) Engine Vehicles, Electric Vehicles, Hybrid And Alternative Fuel Vehicles
4) By Application: Engine, Chassis, Transmission, Steering, Front Or Rear Axle, Interior Trim, Other Applications
Subsegments:
1) By Threaded: Bolts, Nuts, Screws, Studs
2) By Non-Threaded: Washers, Rivets, Clips, Pins
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What Key Drivers Are Expected to Influence Future Automotive Fasteners Market Growth?
The surge in electric vehicle demand is predicted to fuel the expansion of the automotive fasteners market. Electric vehicles, which are either partially or entirely powered by electricity, necessitate superior fastenings for the security settings of general infrastructure equipment and battery casings. For example, data from the International Energy Agency (IEA), an autonomous intergovernmental organization based in France, indicate that about 14 million new electric cars were registered worldwide in 2023, as of April 2024. The sale of electric cars in 2023 increased by 3.5 million units year on year from 2022, illustrating a 35% growth. Hence, the burgeoning of electric vehicles will be a driving factor for the automotive fasteners market's growth.
Which Companies Hold the Largest Share Across Different Automotive Fasteners Market Segments?
Major companies operating in the automotive fasteners market include Illinois Tool Works Inc, KAMAX Holding GmbH & Co. KG, Lisi S.A., Stanley Black & Decker, Bulten AB, Nifco Inc, PennEngineering, Sundram Fasteners Limited, The SFS Group AG, Agrati, KOVA Fasteners Pvt. Ltd., Deepak Fasteners Limited (DFL), TorqBolt Inc., Jyoti Engineering (Jyoti), Boltport Fasteners (BPF), Kaloti Group of Companies, Ananka Fasteners Manufacturers, Caliber Enterprises (India), Yijin Hardware Co., Ltd, Shanghai Jianxin Hardware Co., Ltd, Jiaxing Qimu Trading Co., Ltd., Handan Zhongpin Fasteners Manufacturing Co., Ltd, Tianjin Fine Fasteners Co., Ltd, Tucker GmbH, Keller & Kalmbach GmbH, GWR Fasteners Limited, Kebrell Nuts & Bolts Ltd, FASTENEX, S.L., Rivit s.r.l., Bontempi Vibo, TR VIC Italy, Fiera srl, Zavod Signal, Ideal-Plast LLC, LitPromGarant -NN LLC, Proftruba LLC, Coba Automotive Rus LLC, Spring Alians LLC, Ural Spring Plant, Nedschroef, Zwick Roell Group, Belenus of Brazil S / A, METALAC, Fastener SRL, BULONERA BAF SRL, AI-Rashed Fasteners, Prince Fasteners Manufacturing Co Ltd, Petrofast Middle East FZC, Asia Bolts Industries LLC, EJOT Middle East, TripleFast Middle East, Kuban Karare, Phillips screw company, Westfield Fasteners Limited
What Trends Are Driving Growth in The Automotive Fasteners Market?
Market players are honing their focus on the introduction of novel and inventive solutions with the aim of enhancing product portfolios and maintaining their competition in the market. For example, Henkel, a German corporation specializing in chemicals and consumer goods, rolled out a fresh product in July 2022. Named as Loctite DRI 2250-W, it is a medium to high-strength pre-applied thread locker catered towards high-speed, eco-friendly automotive applications. This product delivers high-speed throughput, resilience to high temperatures, and benefits from being a water-based solution.
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What Are the Emerging Geographies for The Automotive Fasteners Market Growth?
Asia-Pacific was the largest region in the automotive fasteners market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive fasteners market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Automotive Fasteners Market?
2. What is the CAGR expected in the Automotive Fasteners Market?
3. What Are the Key Innovations Transforming the Automotive Fasteners Industry?
4. Which Region Is Leading the Automotive Fasteners Market?
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