Automotive Fasteners Market Size, Share, Revenue, Trends, And Drivers For 2024-2033

The Business Research Company has updated its global market reports with latest data for 2024 and projections up to 2033

LONDON, GREATER LONDON, UK, July 19, 2024 /EINPresswire.com/ -- The automotive fasteners market has experienced robust growth in recent years, expanding from $27.74 billion in 2023 to $28.65 billion in 2024 at a compound annual growth rate (CAGR) of 3.3%. The growth in the historic period can be attributed to increased automobiles production, increased demand for commercial vehicles, and strong economic growth in emerging markets.

Strong Future Growth Anticipated
The automotive fasteners market is projected to grow strongly, reaching $31.81 billion in 2028 at a compound annual growth rate (CAGR) of 2.7%. The growth in the forecast period can be attributed to increasing demand for electric vehicles and supportive government regulations.

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Growth Driver Of The Automotive Fasteners Market
The increasing demand for electric vehicles is expected to propel the growth of the automotive fasteners market going forward. Electric vehicles refer to vehicles that have been either partially or fully powered by electricity. EV general infrastructure equipment and battery casings require high-quality fastenings to provide security settings.

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Major Players And Market Trends
Key players 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.

Companies in the market are focusing on launching new, innovative products to improve their product offerings and to stay competitive in the market.

Segments:
1) By Product: Threaded, Non-Threaded
2) By Material Type: Iron, Steel, Aluminum, 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

Geographical Insights: Asia-Pacific Leading The Market
Asia-Pacific was the largest region in the automotive fasteners market in 2023. Asia-Pacific is expected to be the fastest-growing region during the forecast period, driven by expanding healthcare facilities and increasing awareness of the benefits of automotive fasteners.

Automotive Fasteners Market Definition
Automotive fasteners refer to hardware devices that help to hold vehicle parts together mechanically. These fasteners are used to clamp parts of the vehicle, prevent leakages, and improve the performance of vehicles. Fasteners can typically be permanent or non-permanent, but they are frequently employed to construct joints that are not permanent. This makes it possible to remove or disassemble the joints without harming the linked components.

Automotive Fasteners Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Automotive Fasteners Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on automotive fasteners market size, automotive fasteners market drivers and trends, automotive fasteners market major players, automotive fasteners competitors' revenues, automotive fasteners market positioning, and automotive fasteners market growth across geographies. The automotive fasteners market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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