What Fueled Automotive Fasteners Market?
The automotive fasteners market has seen considerable growth due to a variety of factors.
• The market size of automotive fasteners has witnessed consistent growth in the past few years. The market, which was worth $28.23 billion in 2024, is projected to increase to $28.98 billion in 2025, registering a compound annual growth rate (CAGR) of 2.6%.
Factors such as heightened production of automobiles, rising demand for commercial vehicles, and robust economic development in burgeoning markets can be credited for the growth experienced in the historical period.
What Does the Future Hold for the Automotive Fasteners Market?
The automotive fasteners market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the automotive fasteners market is projected to experience consistent expansion. The market size is expected to reach $32.36 billion in 2029, escalating at a compound annual growth rate (CAGR) of 2.8%.
This growth forecasted for the period can be ascribed to the escalating demand for electric vehicles coupled with encouraging government regulations. During the forecast period, significant trends will consist of the introduction of self-clinching fasteners, development of technologically advanced solutions, launch of lightweight carbon fiber fasteners, debut of innovative products, and engagement in partnerships and alliances.
What Are the Critical Driver Fuelling the Automotive Fasteners Market's Growth?
The automotive fasteners market is forecasted to witness robust growth, driven by the surging demand for electric vehicles. These are vehicles that run partially or entirely on electricity. Key components such as general infrastructure equipment and battery casings in EVs necessitate the use of high-grade fasteners for secure installations. For instance, as stated by the France-based International Energy Agency (IEA) in April 2024, approximately 14 million new EVs were registered worldwide in 2023. There was an increase of 3.5 million units in electric car sales from 2022, which represents a remarkable 35% rise on a year-on-year basis. Thus, the flourishing electric vehicle sector is anticipated to act as a catalyst for the expansion of the automotive fasteners market.
What Are The Primary Segments In The Global Automotive Fasteners Market?
The automotive fasteners market covered in this report is segmented –
1) By Product: Threaded, Non-Threaded
2) By Material Type: Iron, Steel, Aluminium, 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
Subsegments:
1) By Threaded: Bolts, Nuts, Screws, Studs
2) By Non-Threaded: Washers, Rivets, Clips, Pins
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Which Key Trends Are Driving Changes In The Automotive Fasteners Market?
In an effort to enhance their product portfolio and maintain a competitive edge in the market, companies are concentrating on the rollout of novel, pioneering products. For instance, Henkel, a chemical and consumer goods organization based in Germany, unveiled a new product Loctite DRI 2250-W in July 2022. This medium to high-strength pre-applied thread locker is perfectly suited for high-speed, eco-friendly automotive applications, offering high-speed throughput, resistance to high temperatures, and the eco-benefits of a water-based material.
Who Are the Key Players in the Automotive Fasteners Market?
Major companies operating 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
• Shanghai Jianxin Hardware Co. Ltd
• Jiaxing Qimu Trading Co. Ltd.
• Handan Zhongpin Fasteners Manufacturing Co. Ltd
• Tianjin Fine Fasteners Co. Ltd
• Tucker GmbH
• Keller & Kalmbach GmbH
• GWR Fasteners Limited
• Kebrell Nuts & Bolts Ltd
• FASTENEX
• S.L.
• Rivit s.r.l.
• Bontempi Vibo
• TR VIC Italy
• Fiera srl
• Zavod Signal
• Ideal-Plast LLC
• LitPromGarant –NN LLC
• Proftruba LLC
• Coba Automotive Rus LLC
• Spring Alians LLC
• Ural Spring Plant
• Nedschroef
• Zwick Roell Group
• Belenus of Brazil S / A
• METALAC
• Fastener SRL
• BULONERA BAF SRL
• AI-Rashed Fasteners
• Prince Fasteners Manufacturing Co Ltd
• Petrofast Middle East FZC
• Asia Bolts Industries LLC
• EJOT Middle East
• TripleFast Middle East
• Kuban Karare
• Phillips screw company
• Westfield Fasteners Limited
What Is The Most Dominant Region In The Automotive Fasteners Market?
Asia-Pacific was the largest region in the automotive fasteners market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive fasteners market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
