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Automotive Fastener Market Latest Trends, Development, Growth Analysis And Forecast by 2026

Author : Ronak Bora | Published Date : 2020-09-16 

3 major trends accelerating automotive fastener market size through 2026

The automotive fastener market is estimated to accrue noteworthy gains owing to rapid expansion activities in the automobile sector and growing adoption of clamping in vehicles. Over the years, the automotive industry has seen exponential growth with rampant technological advancement. Carmakers are placing passenger safety at their top priority as more customers focus on safety features while buying a vehicle.

Factors like improvement in toughness and quality of fasteners and mechanical enhancements could play a vital role in driving the adoption of these fasteners. Besides, the ability to easily replace these clasps from vehicles make it ideal for end-user.

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Growing inclination towards lightweight fasteners due to rising demand for fuel-efficient vehicles could enhance the business outlook. Increasing demand for lightweight fasteners over welding could significantly boost the automotive fastener market size. On this note, Global Market Insights, Inc., estimates that the automotive fastener market could touch USD 20 billion by the year 2026.

However, diminishing growth of the global automotive sector since 2018 could hinder the growth of automotive fastener industry. In addition to this, rampant spread of coronavirus has compelled various automotive companies to enforce lockdown to protect their employees. This halt in the global automotive economy could negatively impact the product demand in the future.

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Mentioned below are some of the ongoing trends fueling automotive fastener market growth:

Promising growth opportunities across North America-
North America is considered to be a lucrative market for automotive fastener. Estimates claim that the region might register over 15% of the global market within the predicted timeframe. This growth can be attributed to numerous ongoing and future automotive developmental activities being conducted within the region. This would ensure healthy growth prospects of automotive fastener manufacturers over the next few years.

Growing inclination towards original equipment-
Earlier in 2019, the automotive OEMs were considered to amass a volume share of more than 45% and is expected to maintain healthy growth over the forecasted period. In terms of materials, the industry is bifurcated into steel, plastic, and other metallic fasteners such as aluminum, brass, copper etc. The other metallic fastener materials like brass are popular in the market owing to its extensive use in adjoining engine components and door clamps.

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Increasing adoption of new business strategies-
In a bid to establish a dominant position over the automotive fastener market , several industry players like Agrati Group, Fontana, KOVA Fasteners, KAMAX, Sundram Fasteners Limited, Bulten AB, Westfield Fasteners, Shanghai Prime Machinery Company, SFS Group, and IWT Inc. are undertaking diverse organic growth strategies like inking merger or partnership deals, launching new products, and acquiring new assets.

Report Content

Chapter 1. Methodology & Scope

1.1. Methodology

1.2. Market definition

1.3. Market estimation & forecast parameters

1.3.1.   COVID-19 impact calculations on industry forecast

1.4. Data sources

1.4.1.   Primary

1.4.2.   Secondary

1.4.2.1. Paid sources

1.4.2.2. Public sources

Chapter 2. Executive Summary

2.1. Automotive fasteners industry 360° synopsis, 2016 – 2026

2.1.1.   Business trends

2.1.2.   Product trends

2.1.3.   Materials trends

2.1.4.   Characteristic trends

2.1.5.   Distribution trends

2.1.6.   Application trends

2.1.7.   Regional trends

Chapter 3. Automotive Fasteners Industry 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

3.3.4.1.    List of key manufacturers/suppliers

3.3.4.2.    List of key potential customers

3.3.5.   Future trends including COVID-19 impact

3.3.5.1.    Production trends

3.3.5.1.1.         North America

3.3.5.1.2.         Europe

3.3.5.1.3.         Asia Pacific

3.3.5.1.4.         LATAM

3.3.5.1.5.         MEA

3.3.5.2.    Demand trends

3.3.5.2.1.         North America

3.3.5.2.2.         Europe

3.3.5.2.3.         Asia Pacific

3.3.5.2.4.         LATAM

3.3.5.2.5.         MEA

3.4. Raw material analysis

3.4.1.   COVID-19 impact on raw material supply, by region

3.4.1.1.    North America

3.4.1.2.    Europe

3.4.1.3.    Asia Pacific

3.4.1.4.    LATAM

3.4.1.5.    MEA

3.5. Regulatory trends

3.5.1.   U.S.

3.5.2.   Europe

3.5.3.   Asia Pacific

3.6. Industry impact forces

3.6.1.   Growth drivers

3.6.1.1.  Growing adoption of lightweight automotive materials to reduce vehicle weight

3.6.1.2.  Ease of availability for raw materials

3.6.1.3.  Increasing product manufacturing operations in China to cater the global demand

3.6.1.4.  Increasing product demand from numerous automotive manufacturers in Europe

3.6.2.   Industry pitfalls & challenges

3.6.2.1.  Dip in the automotive industry in the recent period may effect product consumption

3.6.2.2.  Spread of COVID-19 will have a negative impact on the global economy

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

3.10.4.1.    R&D Cost

3.10.4.2.    Manufacturing and Equipment cost

3.10.4.3.    Raw Material Cost

3.10.4.4.    Distribution Cost

3.10.4.5.    Operating Cost

3.10.4.6.    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)

 

 

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. [email protected] | https://twitter.com/RonakBora26

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