Press release
Automotive Fasteners Market on Path to Hit $31.17 Billion by 2029 at 2.2% CAGR
Automotive Fasteners
Automotive Fasteners Market Outlook: What Size And CAGR Are Anticipated By 2025?
The size of the automobile fasteners market has seen a slight increase in recent years. It's projected to expand from $28.23 billion in 2024 to $28.55 billion in 2025, experiencing a compound annual growth rate (CAGR) of 1.1%. Factors contributing to the growth during the historical period include a rise in the production of automobiles, heightened demand for commercial vehicles, and robust economic growth in the emerging markets.
What Is the Expected CAGR for the Automotive Fasteners Market Growth Through 2029?
In the coming years, the automotive fasteners market is projected to experience a consistent increase in its market size, reaching $31.17 billion by 2029, with a compound annual growth rate (CAGR) of 2.2%. This prospective development during the projected period is mainly due to the rising demand for electric cars and favorable government policies. Noticeable trends predicted to shape this time frame include the introduction of self-clinching fasteners, the advancement of new technological solutions, the launch of lightweight carbon fiber fasteners, the unveiling of novel products, and the engagement in partnerships and collaborations.
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What Are the Primary Drivers Behind Automotive Fasteners Market Growth?
The escalating consumer preference for electric cars is anticipated to fuel the expansion of the automotive fasteners market in the future. Electric vehicles are those that rely wholly or partially on electricity. Essential electric vehicle infrastructure and battery enclosures necessitate top-notch fastenings for enhanced protection. Consider, for example, in April 2024, the France-based International Energy Agency (IEA), an independent intergovernmental agency reported about 14 million new electric car registrations worldwide in 2023. The sales of electric cars in 2023 marked an increase of 3.5 million units from the previous year, translating to a 35% year-over-year surge. Consequently, the growth in the electric vehicle industry will stimulate the expansion of the automotive fasteners market.
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What Are the Key Segments Driving Automotive Fasteners Market Growth?
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
What Are the Technological Trends Impacting the Automotive Fasteners Market?
Firms in the market are innovating and introducing new products to augment their product line and maintain their market competitiveness. For example, Henkel, a chemical and consumer goods firm based in Germany, in July 2022, added a new product to its portfolio - Loctite DRI 2250-W, a medium to high-strength pre-applied thread locker, designed for high-speed, eco-friendly automotive applications. This product provides fast throughput, resilience to high temperature, and incorporates the environmental benefits of a water-based material.
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Who Are the Major Competitors in the Global Automotive Fasteners Market?
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 Region Dominates the Automotive Fasteners Market Share in 2025?
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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