Sarasota, FL, Feb. 02, 2017 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Industrial Fasteners Market (Externally Threaded, Aerospace Grade, Standard, and Others) for Automotive OEM, Machinery OEM, MRO (Maintenance, Repair, & Operations) and Construction, Other OEM Applications - Global Industry Perspective, Comprehensive Analysis, Size, Share, Growth, Segment, Trends and Forecast, 2016 – 2022”. According to the report, global industrial fasteners market was valued at USD 84.9 billion in 2016, is expected to reach USD 116.5 billion in 2022 and is anticipated to grow at a CAGR of 5.4 % between 2017 and 2022.
Fasteners are used to join together the various parts of the automobile such as spot welding, soldering, nuts & bolts, washers, screws, clips, clamps among others. The global industrial fastener market is primarily driven by rapidly increasing demand from the end-use industries such as automotive, aerospace, and construction. Furthermore, strong recovery in construction and the automotive segment is sustaining growth in the developed countries. In addition, rising demand for high-value titanium fasteners in aerospace applications and light weight plastic fasteners in automotive is expected to drive the demand in near future. However, the potential threat of substitution from alternative joining technologies such as adhesives is expected to negatively impact the market growth.
Browse through 29 Market Tables and 35 Figures spread through 110 Pages and in-depth TOC on “Global Industrial Fasteners Market: By Type, Product, Application, Industry Size, Share, Trends, Analysis, Segment and Forecast 2016 – 2022”.
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In 2016, the automotive segment dominated industrial fasteners market. The automotive industry is one of the major end users of industrial fasteners market. The automotive sector utilizes several types of fasteners like stainless steel, steel, among others. Standard externally threaded fasteners product segment accounted for half of overall industrial fastener sales in 2016 and is expected to register the largest revenue gains through 2022. This product segment growth is fueled by continued strength in motor vehicle production.
In 2016, Asia pacific dominated the overall industrial fasteners market in terms of revenue owing to growing industrialization in the region. China is one of the largest producers and exporters of industrial fasteners in the world followed by Taiwan. Increased production of industrial machinery, motor vehicles, and electrical and electronic components coupled with the renovation of infrastructure provide abundant opportunity for growth of the market in China. Government support and investments in commercial and military aircraft propelled the market demand for aerospace fasteners in the region. Japan is flourishing in the automotive fasteners market because of the automobile giants like Toyota, Suzuki.
Browse the full "Industrial Fasteners Market (Externally Threaded, Aerospace Grade, Standard and Others) for Automotive OEM, Machinery OEM, MRO (Maintenance, Repair, & Operations) and Construction, Other OEM Applications - Global Industry Perspective, Comprehensive Analysis, Size, Share, Growth, Segment, Trends and Forecast, 2016 – 2022" report at https://www.zionmarketresearch.com/report/industrial-fasteners-market
North America and Europe is expected to experience sluggish growth in the near future. The U.S. accounted for the highest share of the industrial fasteners market in 2016. U.S. is the leading market in this region by acquiring more than half market share in the market.
Latin America is expected to be the future market for industrial fasteners and is expected to show decent growth in next five years. Brazil is seen as the most potential business sector in Latin America for industrial fasteners market. Brazil relatively has a high number of track bolt manufacturer. Screw, track bolt, and nuts are mostly used in automotive, construction, and mechanical industry. Latin America shows promising growth for industrial fasteners market.
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The Middle East is witnessing significant growth in industrial fasteners market due to growing market opportunities in industries such as automotive, construction, and mechanical industry. With the speedy economic growth, many industries in the Middle East develops healthy demand for industrial fasteners in this region.
The global industrial fasteners market is highly fragmented. The top four industrial fasteners producers accounted for around 45% of the global market revenue in 2016. Precision Castparts Corporation, Stanley Black & Decker Inc., Wilhelm Bollhoff GmbH & Co. KG and Nitto Seiko Co., Ltd. are recognized as the top industrial fasteners producers. Other prominent vendors in the market are Standard Fasteners Ltd., Acument Global Technologies, Kova Fasteners Pvt. Ltd., Nifco, LISI Group, ITW, Alcoa, ATF Inc. and MW Industries Inc.
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The report segments the global industrial fasteners market into:
Global Industrial Fasteners Market: Product Segment Analysis
- Externally Threaded
- Aerospace Grade
- Standard
- Others (electrical and electronics, aerospace & defense)
Global Industrial Fasteners Market: Application Segment Analysis
- Automotive OEM
- Machinery OEM
- MRO and Construction
- Other OEM
Global Industrial Fasteners Market: Regional Segment Analysis
- North America
- U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- Middle East and Africa
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