Automotive Fastener Market (By Product: Threaded [Nuts, Bolts, Washers, Others], Non-Threaded; By Packaging Material: Stainless Steel, Iron, Bronze, Nickel, Aluminum, Brass, Plastic; By Distribution Channel: Automotive OE, Aftermarket; By Characteristic: Removable Fasteners, Permanent Fasteners, Semi-Permanent Fasteners; By Vehicle Type: Passenger Car (PC), Light Commercial Vehicle (LCV), Heavy Commercial Vehicle (HCV)) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027

Acumen research and consulting estimates that the global automotive fastener market is anticipated to reach market size of around US$ 26,000 Mn by 2027 and is anticipated to grow at a CAGR of around 3% in terms of revenue during the forecast period 2020 – 2027. Mechanical components used to link or connect two or more joints and body parts are the automotive fasteners. The connectors are made of copper, nickel, steel and other materials. The primary function of automotive attachments is to hold vehicle parts together in order to avoid separation and to prevent joint leakage. Due to the various shapes , sizes, designs and qualities, the automotive industry is flooded with a number of attachments especially for the components.

Market Insights

A significant driving force for automotive fasteners market is the booming automobile industry and the essential importance of fasteners in vehicles. Another driving factor in the automotive fasteners market are technological developments and improvements in the quality and durability of fasteners. The quick replacement of automotive fasteners market makes it easier for customers to buy fasteners for their vehicles to further stimulate the car fastening aftermarket. However, the rise of automotive fasteners will slow down the alternatives to car fixtures, such as clinches and welding.

Report coverage

The market research study on “Automotive Fastener Market (By Product: Threaded (Nuts, Bolts, Washers, Others), Non-Threaded; By Packaging Material: Stainless Steel, Iron, Bronze, Nickel, Aluminum, Brass, Plastic; By Distribution Channel: Automotive OEM, Aftermarket; By Characteristic: Removable Fasteners, Permanent Fasteners, Semi-Permanent Fasteners; By Vehicle Type: Passenger Car (PC), Light Commercial Vehicle (LCV), Heavy Commercial Vehicle (HCV)) - Global Industry, Analysis, Market Size, Opportunities and Forecast, 2020 - 2027” offers detailed insights on the global automotive fastener market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report also provides competitive landscape to understand the current stance of particular player. The report provides insights on global automotive fastener market are product, packaging material, distribution channel, vehicle type, end-use and major geographic regions. The automotive fastener market analysis is provided for major regional markets including North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. For each region, the market size for different segments has been covered under the scope of report.

Asia-Pacific currently dominates the demand for automotive fasteners, and its dominant position will also continue in the projected period. The region rising countries are China, Japan, South Korea, and India. Increasing automobile production, particularly in China and India, as a result of the increasing population and rising disposable income, as well as the economic reform from developed economies into China and India, are the main reasons for a healthy fasteners market in the region. Over the next five years, Europe and North America, two main regions, will also generate strong demand for automotive fasteners. Italy, France, and the UK are Europe's largest markets, while the USA and Canada are North America main markets. The market dynamics of automotive fasteners also have an impact on stringent rules on fuel quality improvements and reductions in carbon dioxide emissions, as the need for plastic fasteners has risen in order for manufacturers to minimize the vehicle's gross weight more.

In the middle of the global economic crisis and trade war between China and the U.S., the industry is facing a heavy headwind. In addition, a variety of other variables influence the growth rate of industry in one area at regional level. The reduction in India's automotive industry growth is responsible, for instance, the increased GST on passenger cars and the compulsory introduction of BS-VI from April 2020. While the sector can't recover from these factors, the recent COVID-19 pandemic hit a severe brake. Corona virus spread across the globe forced the companies to close down, the supply chain was interrupted and the work force quarantined. Major auto giants such as Toyota, Hyundai, Volkswagen AG, and Tesla have shut down production facilities for a certain period, with severe implications for the automotive sector globally.

Key Players

Major players included in this report are Atotech, Permanent Technologies, Inc., The Phillips Screw Company, Fastener Technology, Shamrock International, Shanghai Tianbao Fastener Manufacturing Co., Ltd., Stanley Engineered Fastening, Jiangsu Xing Chang Jiang International Co., Ltd., Acument Global Technologies, Nifco Inc., Bulten AB, Westfield Fasteners Limited, KOVA Fasteners Pvt Ltd., APL, Birmingham Fastener, and others.

The global automotive fastener market is segmented as below:

Market Segmentation

Automotive Fastener Market By Product

Threaded

• Nuts
• Bolts
• Washers
• Others

Non-Threaded

Automotive Fastener Market By Packaging Material

Stainless Steel

Iron

Bronze

Nickel

Aluminum

Brass

Plastic

Automotive Fastener Market By Distribution Channel

Automotive OE

Aftermarket

Automotive Fastener Market By Characteristic

Removable Fasteners

Permanent Fasteners

Semi-Permanent Fasteners

Automotive Fastener Market By Vehicle Type

Passenger Car (PC)

Light Commercial Vehicle (LCV)

Heavy Commercial Vehicle (HCV)

Automotive Fastener Market By Geography

North America

• U.S
• Canada

Europe

• U.K
• Germany
• France
• Spain
• Rest of Europe

Asia-Pacific

• China
• Japan
• India
• Australia
• South Korea
• Rest of Asia-Pacific

Latin America

• Brazil
• Mexico
• Rest of Latin America

Middle East & Africa

• GCC
• South Africa
• Rest of Middle East & Africa