The global industrial fasteners market is expected to reach USD 134.20 billion by 2025 The growing demand for automobiles, electronics appliances, aircraft, industrial machinery, and medical equipment will drive product demand over the upcoming years. Furthermore, increasing government spending on infrastructure and machinery sector is expected to aid in the market expansion.
The usage of industrial fasteners in maintenance, repair, and overhaul (MRO) industry will foresee substantial revenue growth at a CAGR of 5.3% from 2016 to 2025. Rising MRO activities in various sectors including automotive, aerospace, electronics, construction, and electrical will increase market size. The growing requirement for enhanced efficiency from machines is anticipated to fuel the need for MRO activities, which in turn is expected to spur the industrial fastener demand over the upcoming years.
The industrial fasteners industry is projected to grow significantly at a CAGR of 5.7% on account of their increasing application in automotive and construction industries in emerging countries such as China, India, South Korea, Brazil, Thailand and Saudi Arabia.
North America accounted for 20.9% of the global revenue share in 2015 and is projected to show growth on account of rising usage of the product in the aerospace and automotive sectors over the upcoming years. Moreover, the presence of the large automotive manufacturers, such as Chrysler, Dodge, Jeep, Ford, Chevrolet, Buick, Cadillac, and Lincoln, will drive demand over the forecast period.
- Alcoa, Inc.
- Precision Castparts Corporation
- Illinois Tool Works Incorporated (ITW)
- Acument Global Technologies
- Dokka Fasteners
- LISI Group - Link Solutions for Industry
- Nippon Industrial Fasteners Company (Nifco)
- Stanley Black & Decker
- Penn Engineering
- Hilti AG
- Standard Fasteners Ltd.
- Kova Fasteners Pvt. Ltd.
- MW Industries
Key Topics Covered:
1. Methodology and Scope
2. Executive Summary
3. Industrial Fasteners Market Variables, Trends & Scope
4. Industrial Fasteners Market: Product Estimates & Trend Analysis
5. Industrial Fasteners Market: Application Estimates & Trend Analysis
6. Industrial Fasteners Market: Regional Estimates & Trend Analysis
7. Competitive Landscape
8. Competitive Landscape
For more information about this report visit http://www.researchandmarkets.com/research/tf769x/industrial
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To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/industrial-fasteners-market-to-reach-1342-billion-by-2025-growing-demand-for-automobiles-electronic-appliances-aircrafts-industrial-machinery--medical-equipment-to-drive-growth---research-and-markets-300414739.html
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