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Global Automotive Fastener Market to Rise from USD 23.70 Billion in 2022 to USD 33.27 Billion by 2029 at 4.96% CAGR - Automotive Fastener Market forecast
Automotive Fastener Market
According to Maximize Market Research, the global Automotive Fastener Market was valued at USD 23.70 billion in 2022 and is projected to reach USD 33.27 billion by 2029, expanding at a compound annual growth rate (CAGR) of 4.96%.
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Key Highlights
Market Size & CAGR: USD 23.70 billion in 2022 → USD 33.27 billion by 2029 at 4.96% CAGR.
Regional Momentum: Asia-Pacific leads both current share and forecast growth, fueled by booming automotive production in China and India.
Growth Drivers: Rising electric and alternative powertrain vehicle adoption, lightweighting trends, and expansion in developing automotive industries.
Segment Trends: Threaded fasteners dominate; lightweight materials (aluminum, composites) and specialty fasteners for EVs are growing fast.
Competitive Landscape: Key players include Sundram Fasteners, LISI Group, Bollhoff, Stanley Black & Decker, Bulten, and others.
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Body Content
Market Outlook
The Automotive Fastener Market is on a growth trajectory from USD 23.70 billion in 2022 to USD 33.27 billion by 2029, at a 4.96% CAGR, supported by global automotive expansion and the shift toward electric and smarter vehicle platforms.
Regional Insights
Asia-Pacific dominates with nearly half the global share, propelled by increasing auto production and EV component localization.
North America & Europe continue steady growth, aided by lightweight mandates and advanced fastener tech for structural and EV assemblies.
Product & Material Trends
Threaded fasteners (bolts, nuts, screws) hold majority share; specialty and lightweight fasteners are growing due to EV demands.
Material shift toward aluminum and composite fasteners is rising (~5.66% CAGR), aiding lightweight vehicle architectures.
Drivers, Challenges & Trends
Key Drivers:
Rising EV and lightweight vehicle adoption.
Expansion of automotive manufacturing in emerging economies.
Constraints: Substitution threats from welding and clinching methods may cap growth.
Emerging Trends: Specialty fasteners for EVs, protective coatings, and modular fastening solutions gain traction.
Competitive Landscape
Leading fastener manufacturers-Sundram Fasteners, LISI Group, Bollhoff, Bulten, Stanley Black & Decker, SFS Group, among others-are focusing on R&D, lightweight materials, and global expansion to capitalize on the evolving automotive landscape.
To learn more about the findings of this research, please check:https://www.maximizemarketresearch.com/market-report/global-automotive-fastener-market/29346/
Quote
"With the Automotive Fastener Market forecast aiming for USD 33 billion by 2029, the winners will be fasteners that combine lightweight design, advanced materials, and EV compatibility while navigating emerging assembly alternatives," said an industry analyst.
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Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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