Selbyville, Delaware, May 04, 2020 (GLOBE NEWSWIRE) --

According to latest report “Automotive Fastener Market by Product (Threaded [Nuts, Bolts, Washers], Non-Threaded), Materials (Steel, Plastics), Characteristic (Permanent, Non-Permanent), Distribution (Automotive OEM, Aftermarket), Application (Passenger Car, LCV, HCV), Regional Outlook, Price Trends, Competitive Market Share & Forecast 2026”, by Global Market Insights, Inc., the market valuation of automotive fasteners will reach $20 billion by 2026.

The thriving automotive industry and fundamental requirement of fasteners in all vehicles will advance the market development. In addition, mechanical enhancements and improvement in quality and toughness of fasteners are some aspects impacting the market demand. The simplicity of replacing these clasps from automobiles makes it considerably more accommodating for the end-use consumers to get fasteners for their cars. Furthermore, the increasing awareness for decreased weight of the automobiles will support adoption for the use of lightweight fasteners over welding, which will bolster the market.

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Based on the products, the market is grouped into threaded and non-threaded fasteners. Threaded fasteners are anticipated to grow at over 4% CAGR during the forecast period. It is further segmented as washers, nuts, bolts and few others such as studs, threaded inserts etc. 

Based on materials, the automotive fastener market is classified into plastic, steel and few other metallic fasteners such as brass, aluminum, copper etc. The other metallic fastener materials such as brass are very popular in the market owing to its widespread use in adjoining various engine components and door clamps.

The characteristic of the automotive fasteners is expanded into non-permanent and permanent fasteners. Non-permanent clamps will observe dominance over the permanent ones due to their removable property. These are also very helpful during customization and modification activities of the vehicle.

As per distribution structure, the automotive fastener market is divided based on aftermarket and automotive OEMs. Automotive OEM is considered to garner a volume share over 45% in 2019 and will grow significantly.

According to applications, the industry is categorized into light commercial vehicles (LCV), heavy commercial vehicles (HCV) and passenger cars. LCVs are probable to grow considerably in the recent years with a CAGR around 4% by 2026.

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North America automotive fastener market is projected to cover more than 15% of the overall market by 2026. The ongoing and future automobile developments in the region will prove to be a main aspect surging the vehicle fastener market in the next few years.

The key competitors in the market are Fontana, Agrati Group, KAMAX, Shanghai Prime Machinery Company, Bulten AB, Sundram Fasteners Limited, IWT Inc., SFS Group, Westfield Fasteners, KOVA Fasteners, etc.

Some major findings of the automotive fastener market report include:

  • Easy replaceability of the product makes it convenient for the end use consumers to purchase only the parts required. This is expected to boost the automotive fastener demand in the automotive industry.
  • Threaded fasteners will witness the leading growth covering more than 80% market share in 2019.
  • Non-permanent and steel fasteners will be the leading fastener type owing to it’s their high resistance, flexibility and vast use across various automotive applications.
  • Asia Pacific followed by Europe is projected to dominate the product consumption due to the presence of huge numbers of automobile manufacturer in the regions.

Table of Contents (ToC) of the report:

Chapter 3. Automotive Fastener Market Insights

3.1. Industry segmentation

3.2. Industry size and forecast, 2016 – 2026

3.3. Industry ecosystem analysis

3.3.1.   Value addition

3.3.2.   Distribution channel analysis

3.3.3.   Value chain disruption analysis (COVID-19 impact)

3.3.4.   Vendor matrix    List of key manufacturers/suppliers    List of key potential customers

3.3.5.   Future trends including COVID-19 impact

3.4. Raw material analysis

3.4.1.   COVID-19 impact on raw material supply, by region    North America    Europe    Asia Pacific    LATAM    MEA

3.5. Regulatory trends

3.6. Industry impact forces

3.6.1.   Growth drivers

3.6.2.   Industry pitfalls & challenges

3.7. Growth potential analysis

3.8. Porter’s analysis

3.8.1.   Supplier power

3.8.2.   Buyer power

3.8.3.   Threat of new entrants

3.8.4.   Threat of substitutes

3.8.5.   Industry Rivalry

3.9. Competitive landscape

3.9.1.   Company market share analysis, 2019

3.9.2.   Strategy dashboard

3.10. Price trends

3.10.1. Regional price trends

3.10.2. Price by product

3.10.3. COVID-19 impact on pricing

3.10.4. Cost structure analysis    R&D Cost    Manufacturing and Equipment cost    Raw Material Cost    Distribution Cost    Operating Cost    Miscellaneous Cost

3.11.   PESTEL analysis

3.12.          COVID-19 impact on automotive fasteners demand by application

3.12.1. Passenger Car (PC)

3.12.2. Light Commercial Vehicle (LCV)

3.12.3. Heavy Commercial Vehicle (HCV)

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About Global Market Insights, Inc.

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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