Automotive Fastener Market 2021 | Size, Growth Prospects, Top Manufacturers, Future Insights and Forecast by 2027

Automotive fasteners are components used in assembling a vehicle in the production line. The choice of the right fasteners and emphasis on safety are likely to trigger its demand among automotive manufacturers. The global Automotive Fasteners Market report by Market Research Future (MRFR) contains valuable insights gleaned through painstaking efforts by analysts and identification of trends, drivers, and challenges for the period of 2018 to 2023 (forecast period). The sudden outbreak of the COVID-19 virus and its impact on the industry are analyzed in granular detail.

Competitive Outlook

Atotech, Westfield Fasteners Limited, Bulten AB, Jiangsu Xing Chang Jiang International Co., Ltd., Permanent Technologies Inc., The Phillips Screw Company, Shamrock International, Shanghai Tianbao Fastener Manufacturing Co., Ltd., Nifco Inc., and KOVA Fasteners Pvt Ltd are key players of the global automotive fasteners market. The high competition among players has led to them innovating in fasteners to attain a larger share of the automotive fasteners market share till 2023.

Market Scope

The global automotive fasteners market is expected to rise at a CAGR of 4.5% over the forecast period. The surge in vehicle production, focus to lightweight vehicles, and use of infotainment systems, telematics, and ignition can induce the need for fasteners. The rise of injection molding and use of plastic components to lower vehicle weight can bolster the market demand exponentially. Resistance to corrosion, salt, and climatic conditions are likely features enticing its use in commercial and passenger vehicles.

The use of plastic fasteners due to the need for reducing vehicle weight and eschew the usage of stainless steel and nickel can fuel the market growth. Removable fasteners are likely to be in huge demand due to the corrosive nature of bolts, studs, and nuts and the frequent need to replace it.

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Segmentation

Global automotive fasteners market is segmented on the basis of type, material, distribution channel, and end-use.

On the basis of type, the market has been divided into threaded and non-threaded.

On the basis of material, the market has been segmented into nickel, iron, aluminum, stainless steel, and others. The stainless steel segment is likely to garner huge revenues owing to its application in engine parts, door panels, and airbag housings.

On the basis of distribution channel, the market has been segmented into OEM and aftermarket. The aftermarket channel can dominate the market owing to car manufacturers doling out similar components for refurbishment of old and legacy cars. In addition, the market for used cars is likely to be a new revenue pocket for the segment and the global automotive fasteners.

On the basis of end-use, the market has been segmented into permanent, semi-permanent, and removable.

Regional Analysis

Geographically, the global automotive fasteners market has been segmented into the four major regions of North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW).

The global automotive fastener market in APAC is expected to grow during the forecast period followed by Europe. Developing countries such as China, India and Japan are major hubs for automotive industry which can boost the market growth share for APAC. Growing automotive fasteners sales in the aftermarket will further enhance the sales. Regulations for lightweight components and emphasis on safety of passengers are expected to facilitate market growth till 2023.

In Europe, the increased manufacturing of vehicles is expected to increase the demand for automotive fasteners which will enhance the market in the future. The presence of prominent manufacturers, supportive regulations, establishment of new emission and safety standards, and pacts for creating safe cars can bode well for the market.

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Table Of Content

TABLE OF CONTENTS

1 EXECUTIVE SUMMARY 20

2 MARKET INTRODUCTION 22

2.1 SCOPE OF THE STUDY 22

2.2 RESEARCH OBJECTIVE 22

2.3 MARKET STRUCTURE 22

3 RESEARCH METHODOLOGY 23

3.1 RESEARCH PROCESS 23

3.2 PRIMARY RESEARCH 24

3.3 SECONDARY RESEARCH 25

3.4 MARKET SIZE ESTIMATION 25

3.5 TOP-DOWN AND BOTTOM-UP APPROACH 26

3.6 FORECAST MODEL 27

3.7 LIST OF ASSUMPTIONS LIMITATIONS 28

4 MARKET DYNAMICS 29

4.1 INTRODUCTION 29

4.2 DRIVERS 30

4.2.1 DEMAND FOR STAINLESS STEEL FOR AUTOMOTIVE MANUFACTURING 30

4.2.2 INCREASING SALES OF ELECTRIC VEHICLES 30

4.2.3 DRIVERS IMPACT ANALYSIS 31

4.3 RESTRAINTS 31

4.3.1 HIGH CAPITAL REQUIREMENTS 31

4.4 OPPORTUNITIES 32

4.4.1 BATTERY-POWERED TRAINS 32

4.5 CHALLENGES 32

4.5.1 UNDERDEVELOPED AFTERMARKET SERVICES 32

4.5.2 VOLATILE RAW MATERIAL PRICES 33

4.6 COVID-19 IMPACT ANALYSIS 33

4.6.1 ECONOMIC IMPACT ON AUTOMOTIVE INDUSTRY 33

4.6.2 IMPACT ON AUTOMOTIVE PRODUCTION 33

4.6.2.1 FORD 34

4.6.2.2 AMERICAN HONDA 34

4.6.2.3 FCA 34

4.6.2.4 KIA 34

4.6.2.5 VOLKSWAGEN 34

4.6.3 ECONOMIC IMPACT ON THE MANUFACTURING INDUSTRY 35

4.6.3.1 ECONOMIC IMPACT 35

4.6.3.2 IMPACT ON SUPPLY CHAIN 35

4.6.3.3 IMPACT ON RAW MATERIALS 35

4.6.3.4 CASH FLOW CONSTRAINTS 36

4.6.3.5 IMPACT ON IMPORT/EXPORT 36

4.6.4 IMPACT ON WORLD TRADE 36

4.7 APPLICATION OF AUTOMOTIVE FASTENERS IN EV INDUSTRY 36

4.7.1 APPLICATION OF AUTOMOTIVE FASTENERS IN EV INFRASTRUCTURE 37

4.7.2 APPLICATION OF AUTOMOTIVE FASTENERS IN EV COMPONENTS 37

5 MARKET FACTOR ANALYSIS 38

5.1 SUPPLY CHAIN ANALYSIS: GLOBAL AUTOMOTIVE FASTENERS MARKET 38

5.1.1 DESIGN DEVELOPMENT 39

Continued………

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