industrial fastener market
DUBLIN, Dec. 5, 2023 (Globe Newswire) — The “Industrial Fasteners – Global Strategic Business Report” report has been added. ResearchAndMarkets.com Recruitment.
Global industrial fasteners market expected to reach $124.9 billion by 2030
The global market for industrial fasteners, estimated at USD 89.7 billion in 2022, is projected to reach a revised size of USD 124.9 billion by 2030, increasing by 4.2% over the analysis period 2022-2030. Grows at CAGR. Metals, one of the segments analyzed in the report, recorded a CAGR of 4.1% and is projected to reach USD 110.4 billion by the end of the analyzed period. The growth of the plastics sector is estimated at 5.5% CAGR over the next eight years.
The industrial fasteners market faced significant challenges due to the coronavirus disease (COVID-19) pandemic, resulting in supply chain disruptions and difficulty meeting demand. The industry is highly competitive and fragmented, with many major companies vying for market share. Competition remains fierce in the aerospace fasteners sector, as reflected in the global market share percentage.
The global industrial fasteners market is on a positive growth trajectory, driven by key sectors such as manufacturing, construction, and automotive. Rising auto sales and revival of air travel are expected to boost the automotive and aerospace fasteners market respectively. Other application areas can also be expected to maintain their presence in the market.
The US market is estimated at $16.9 billion, while China is projected to grow at a CAGR of 5.6%
Regional dynamics play an important role in the growth of the global industrial fasteners market. Overall, industrial fasteners continue to be a critical component in various industries, supporting infrastructure development and manufacturing activities.
The US industrial fasteners market is estimated at USD 16.9 billion in 2022. China, the world’s second largest economy, is expected to reach a projected market size of USD 24.9 billion by 2030, trending at a CAGR of 5.6% YoY. The analysis period is from 2022 to 2030. Other notable geographic markets include Japan and Canada, which are expected to grow by 2.9% and 3.5%, respectively, over the 2022-2030 period. Among Europe, Germany is projected to grow at a CAGR of approximately 3.1%.
What’s new?
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Special discussion on global economic conditions and market sentiment
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Coverage on global competitiveness and market share percentage of major competitors
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Market Presence Analysis Across Multiple Regions – Strong/Active/Niche/Minor
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Tailor-made updates for online interactive peer-to-peer collaboration
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Access to digital archives and research platforms
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1 year of free updates
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Access to selected YouTube video transcripts of market sentiment shared by CEOs, subject matter experts, and market influencers through interviews, podcasts, press statements, and event keynotes
Key attributes:
report attributes |
detail |
number of pages |
888 |
Forecast period |
2022-2030 |
Estimated market value in 2022 (USD) |
$89.7 billion |
Projected market value to 2030 (USD) |
$124.9 billion |
compound annual growth rate |
4.2% |
Target area |
global |
Market trends and drivers
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Review of the latest trends and advances in the Industrial Fasteners market
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Fastening technology and sustainability
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The use of industrial fasteners in the manufacture of automotive, aerospace, and medical device parts is rapidly increasing.
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Fast-growing automotive and construction industries drive demand for industrial fasteners
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Automotive industry: major end user of industrial fasteners
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Global Automotive Fasteners Market Structure: Fastener Sales Percentage by Type – Bolts, Nuts, Washers, Others
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Automotive fastener industry comes to a sudden halt due to the outbreak of the new coronavirus infection (COVID-19)
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Impact of the pandemic and the new normal
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Global Automotive Market Reset and Trajectory – Growth Outlook 2019-2025 (%)
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World car production (million units): 2008-2022
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2020 year-over-year growth rate of vehicle production in key regional markets (%)
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Global automotive industry production capacity by region in 2017 and 2022 (million units)
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Increase in vehicle recalls due to zipper defects accelerates emphasis on quality
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Increasing passenger vehicle density and aging fleet accelerates opportunities in the repair and maintenance services sector
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Average model year of light vehicles (passenger cars and light commercial vehicles) in the United States in 2010, 2018, and 2022
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Changing automotive manufacturing trends impact fastener opportunities
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Accelerating innovation by focusing on reducing vehicle weight
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Massive engineering interest in weight reduction, measured by strong demand for automotive lightweight materials, drives innovation in fastener materials and designs: Global automotive lightweight materials market in 2022, 2024 and 2026 (US$ billion)
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Performance characteristics of common lightweight materials
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Increasing shift towards lightweight materials in automotive construction accelerates development of self-tapping and self-locking fasteners: breakdown of automotive materials by type in 2017 and 2030 (%)
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New coating to reduce weight of automotive fasteners
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Adoption of thermoplastics in vehicle production drives advances in automotive fasteners
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Shape memory fasteners: the future of automotive assembly
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Plastic fasteners grow in popularity
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Acceptance of adhesive fasteners casts a long shadow of threat over mechanical fasteners
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Metal fasteners continue to be the mainstream
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Aerospace industry: a strong end-use market for fasteners
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Outlook for the airline industry due to the pandemic
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Impact of the COVID-19 pandemic Airline revenue: Commercial airline revenue growth (%) from 2010 to 2020
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Global airline regional performance: 2020 and 2019
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Downturn in aviation industry impacts demand for aerospace fasteners
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Civil Aviation Sector Growth Patterns Leading to Growth Opportunities
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Global commercial airline revenue in 2010, 2015, 2020 and 2025 (US$ billion)
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Increasing air passenger numbers and demand for modern aircraft provide long-term growth opportunities for the market
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Global aircraft deliveries by region: 2021-2040
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Forecast of global commercial aircraft fleet: Breakdown of fleet by region in 2019 and 2040 (units)
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Years of Fastener Innovation
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Thermission coating to protect the zipper surface longer
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Technological innovation drives demand
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Focus on safety spur tool innovation
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“The lighter the better” – the new mantra to drive sales
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Aerospace titanium fasteners are gaining importance
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Development of precision engineering solutions and cutting-edge technology in industrial applications: the basis for market adoption
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Demand and production of general manufacturing and industrial machinery augers are strong in the market
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Impact of fastener technology on the manufacturing sector
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Construction sector’s northward trajectory driving market growth
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Construction sector recovery accelerates growth
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Global construction spending 2020-2028 (US$ trillion)
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Insights into Construction Fastener Development
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Modern fasteners make motors and pumps more efficient
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Electrical and electronic equipment: a field that is expected to grow in the coming years
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Special end-use industries supporting growth
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Medical device industry: another important end-use sector
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Development of industrial fastener industry
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Emergence of innovative technologies to streamline supply chain networks
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Introduction of advanced industrial engineering equipment that allows companies to minimize production costs
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Increasing interest in minimizing environmental pollution levels increases the demand for environmentally friendly industrial fasteners
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Notes on technological advances
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recent innovations
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Issues to consider
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Secondary locking device that bites into the zipper part
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Impact of e-business and e-commerce on the industrial fastener industry
Focus on carefully selected players(376 posts in total)
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A. Agrati SpA
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Bulletin AB
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Full-fledged mechanical products company
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federal screw works
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Howmet Aerospace Co., Ltd.
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Illinois Tool Works Co., Ltd.
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Infasco
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KAMAX Holding GmbH & Co. KG
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LISI Group
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LISI Aerospace
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LISI Automotive
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McLean Fogg Co.
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Atlas Bolt & Screw Company LLC
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MNP Co., Ltd.
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Japan Industrial Fasteners Co., Ltd. (Nifco)
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Nitto Seiko Co., Ltd.
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New Core Co., Ltd.
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Precision Cast Parts Co., Ltd.
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cherry aerospace
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STANLEY designed fasteners
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Sundrum Fasteners Limited
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TR Fastening Co., Ltd.
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Wilhelm Bolhoff GmbH & Co. KG
For more information on this report, please visit https://www.researchandmarkets.com/r/2fm6fe.
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