Global Industrial Fasteners Business Report 2023: Market to Reach $124.9 Billion by 2030 - Lighter the Better Driving Sales, Titanium Aerospace Fasteners to Grow in Importance

DUBLIN, Dec. 6, 2023 /PRNewswire/ -- The "Industrial Fasteners - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.

Global Industrial Fasteners Market to Reach $124.9 Billion by 2030

The global market for Industrial Fasteners estimated at US$89.7 Billion in the year 2022, is projected to reach a revised size of US$124.9 Billion by 2030, growing at a CAGR of 4.2% over the analysis period 2022-2030. Metal, one of the segments analyzed in the report, is projected to record 4.1% CAGR and reach US$110.4 Billion by the end of the analysis period. Growth in the Plastic segment is estimated at 5.5% CAGR for the next 8-year period.

The industrial fasteners market faced significant challenges due to the COVID-19 pandemic, resulting in supply chain disruptions and difficulties in meeting demand. This industry is highly competitive and fragmented, with numerous key players vying for market share. In the aerospace fasteners segment, competition remains fierce, as reflected in the global market share percentages.

The global industrial fasteners market is on a positive growth trajectory, driven by key sectors like manufacturing, construction, and automotive. Increased vehicle sales and a resurgence in air travel are expected to boost the automotive and aerospace fasteners markets, respectively. Other application segments also show promise in maintaining their market presence.

The U.S. Market is Estimated at $16.9 Billion, While China is Forecast to Grow at 5.6% CAGR

Regional dynamics play a crucial 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 Industrial Fasteners market in the U.S. is estimated at US$16.9 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$24.9 Billion by the year 2030 trailing a CAGR of 5.6% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.9% and 3.5% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 3.1% CAGR.

What`s New?

• Special discussions on the global economic climate and market sentiment
• Coverage on global competitiveness and key competitor percentage market shares
• Market presence analysis across multiple geographies - Strong/Active/Niche/Trivial
• Online interactive peer-to-peer collaborative bespoke updates
• Access to digital archives and research platform
• Complimentary updates for one year
• Access to curated YouTube video transcripts of market sentiments shared by CEOs, domain experts and market influencers via interviews, podcasts, press statements and event keynotes

MARKET TRENDS & DRIVERS

• Review of Latest Trends and Advancements in the Industrial Fasteners Market
• Fastening Technology and Sustainability
• Use of Industrial Fasteners for Manufacturing Automobiles, Aerospace, and Medical Devices Components Witnesses Surge
• Burgeoning Automobile and Construction Sector Propel Demand for Industrial Fasteners
• Automotive Industry: A Key End-user of Industrial Fasteners
• Structure of the World Automotive Fasteners Market: Percentage Breakdown of Value Sales of Fasteners by Type - Bolts, Nuts, Washers and Others
• Onset of COVID-19 Brings Automotive Fasteners Industry to a Screeching Halt
• Pandemic Impact & the New Normal
• Global Automotive Market Reset & Trajectory - Growth Outlook (In %) For Years 2019 Through 2025
• World Automobile Production in Million Units: 2008-2022
• Car Production YoY % Growth in 2020 Across Major Regional Markets
• Global Production Capacity of the Automobile Industry (In Million Units) by Region for the Years 2017 and 2022
• Rise in Vehicle Recalls Due to Fastener Failure Fuels Emphasis on Quality
• Rising Passenger Car Density & Aging Vehicles Spur Opportunities in the Repair & Maintenance Services Sector
• Average Age of Light Vehicles (Car & Light Commercial Vehicles) in the US for Years 2010, 2018 and 2022E
• Changing Automotive Manufacturing Trends Impact Opportunities for Fasteners
• Focus on Automotive Lightweighting Spurs Innovation
• Massive Engineering Interest in Lightweighting, as Measured by the Robust Demand for Automotive Lightweight Materials, Catalyzes Fastener Material & Design Innovations: Global Automotive Lightweight Materials Market (In US$ Billion) for Years 2022, 2024 & 2026
• Performance Characteristics of Common Lightweight Materials
• Growing Shift Towards Lightweight Materials in Automobile Construction Spurs Development of Self-Tapping & Self-Locking Fasteners: % Breakdown of Automotive Materials Used by Type for the Years 2017 & 2030
• Novel Coatings Help Automotive Fasteners to Comply with Lightweighting
• Adoption of Thermoplastics for Vehicle Production Facilitate Advancements in Automotive Fasteners
• Shape Memory Fasteners: The Future of Automotive Assembling
• Plastic Fasteners Grow in Popularity
• Acceptance of Adhesive Fasteners Casts a Long Shadow of Threat over Mechanical Fasteners
• Metal Fasteners Continue to Reign
• Aerospace Industry: A Strong End-Use Market for Fasteners
• Pandemic Dents Prospects in the Aviation Industry
• COVID-19 Pandemic Dents Airline Revenues: Commercial Airline Revenue Growth (in %) for 2010-2020
• Global Airlines Performance by Region: 2020 Vs 2019
• Drop in Aviation Sector Impacts Demand for Aerospace Fasteners
• Growth Patterns in Commercial Aviation Sector to Guide Growth Opportunities
• Global Commercial Airline Revenues (in US$ Billion) for the Years 2010. 2015, 2020, and 2025
• Rise in Air Passenger Traffic and Demand for Modern Aircraft Present Long-term Growth Opportunities for the Market
• Global Aircraft Deliveries by Region: 2021-2040
• Global Commercial Aircraft Fleet Projections: Breakdown of Fleet (in Units) by Region for 2019 and 2040
• Fastener Innovations over the Years
• Thermission Coating for Longer Lasting Surface Protection for Fasteners
• Technological Innovations Driving Demand
• Focus on Safety Spurs Tool Innovations
• Lighter the Better' - New Mantra Driving Sales
• Titanium Aerospace Fasteners to Grow in Importance
• Development of Precise Engineering Solutions and Cutting-edge Technologies in Industrial Applications: Foundation for Market Adoption
• Rising Demand for and Production of General Manufacturing & Industrial Machinery Augurs Well for the Market
• Fasteners Technology Effect on Manufacturing Sector
• Northbound Trajectory in the Construction Sector to Favor Market Growth
• Recovery in Construction Sector to Boost Growth
• Global Construction Spending (in US$ Trillion) for the Years 2020-2028
• An Insight into Construction Fastener Developments
• Motors and Pumps Become Efficient with the Use of Latest Fasteners
• Electrical & Electronic Equipment: Potential Growth Sector in Years to Come
• Special End-Use Industries Underpin Growth
• Medical Equipment Industry: Yet another Crucial End-use Sector
• Developments in the Industrial Fastener Industry
• Advent of Innovative Technologies Streamlining Supply Chain Networks
• Introduction of Advance Industrial Engineering Devices Enabling Companies to Minimize Production Costs
• Increasing Concerns for Minimizing Environment Pollution Levels Fuel Demand for Eco-Friendly Industrial Fasteners
• A Note on Technological Advancements
• Recent Innovations
• Challenges to Reckon With
• Secondary Locking Devices to Bite into Fastener Share
• Impact of e-business and e-commerce on Industrial Fastener Industry

FOCUS ON SELECT PLAYERS (Total 376 Featured) 

• A. Agrati S.p.A.
• Bulten AB
• Earnest Machine Product Company
• Federal Screw Works
• Howmet Aerospace Inc.
• Illinois Tool Works, Inc.
• Infasco
• KAMAX Holding GmbH & Co. KG
• LISI Group
• LISI Aerospace
• LISI Automotive
• MacLean-Fogg Company
• Atlas Bolt & Screw Company LLC
• MNP Corp.
• Nippon Industrial Fasteners Company (Nifco)
• Nitto Seiko Co., Ltd.
• Nucor Corporation
• Precision Castparts Corp.
• Cherry Aerospace
• STANLEY Engineered Fastening
• Sundram Fasteners Limited
• TR Fastenings Ltd.
• Wilhelm Bollhoff GmbH & Co. KG

For more information about this report visit https://www.researchandmarkets.com/r/je7zz2

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Media Contact:
Research and Markets
Laura Wood, Senior Manager
[email protected]

For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg

SOURCE Research and Markets