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Electric Vehicle Surge Driving Growth In Automotive Fasteners Market: Strategic Insights Driving Automotive Fasteners Market Momentum in 2025
Automotive Fasteners Market
Automotive Fasteners Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The market size of automotive fasteners has experienced continuous growth over the past few years. It is projected to expand from $28.23 billion in 2024 to $28.98 billion in 2025, with a compound annual growth rate (CAGR) of 2.6%. The increased production of automobiles, greater need for commercial vehicles, and robust economic expansion in developing markets have contributed to this growth in the historic period.
Automotive Fasteners Market Size Forecast: What's the Projected Valuation by 2029?
Expectations suggest that the automotive fasteners market will continue to grow steadily over the coming years, reaching a value of $32.36 billion in 2029, with a compound annual growth rate (CAGR) of 2.8%. This projected growth can be credited to a rising demand for electric vehicles and favorable government regulations. Key trends for the period include the introduction of self-clinching fasteners, the development of new technological solutions, the release of lightweight carbon fiber fasteners, the launch of innovative products, and partnerships and collaborations.
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What Are the Drivers Transforming the Automotive Fasteners Market?
The growth of the automotive fasteners market is anticipated to be driven by the surging demand for electric vehicles. These vehicles, which are fully or partially powered by electricity, require advanced fastenings for their general infrastructure equipment and battery enclosures as a means of ensuring secure settings. Citing data from the International Energy Agency (IEA), an independent organization based in France, in April 2024, the global registration of new electric cars in 2023 was close to 14 million. The sales figures for electric vehicles witnessed a spike of 3.5 million units in comparison to 2022, indicating a growth rate of 35% year-on-year. Consequently, the escalating rise of electric vehicles is poised to boost the growth of the automotive fasteners market.
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What Long-Term Trends Will Define the Future of the Automotive Fasteners Market?
Market players are concentrating on unveiling unique, state-of-the-art products as a part of their strategy to enhance their offerings and maintain their market position. For example, Henkel, a company based in Germany specializing in chemicals and consumer goods, launched a groundbreaking product named Loctite DRI 2250-W in July 2022. This product, designed as a medium to high-strength pre-applied thread locker for fast, eco-friendly automotive applications, boasts high-speed throughput, resistance to high temperatures and the environmental benefits of being a water-based material.
Which Segments in the Automotive Fasteners Market Offer the Most Profit Potential?
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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Which Firms Dominate the Automotive Fasteners Market by Market Share and Revenue in 2025?
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
Which Regions Offer the Highest Growth Potential in the Automotive Fasteners Market?
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.
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