Automotive Fasteners Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Automotive Fasteners Market
The global automotive fasteners market size was valued at USD 22.99 billion in 2023, and the market is now projected to grow from USD 24.08 billion in 2024 to USD 37.11 billion by 2032, exhibiting a CAGR of 5.55% during the forecast period (2024-2032).
The COVID-19 pandemic notably impacted the automotive fastener demand because of the haltered or reduced manufacturing and sales of cars. During the pandemic outbreak, governmental restrictions stopped manufacturing activities is many facilities around the globe. All of this negatively affected the automotive fasteners market growth.
Automotive fasteners clamp numerous car elements together to keep away from wobbling, leak prevention of joints, and transmit masses. Depending upon their usage, it could be made either from steel metal or plastic. The continuously surging demand for passenger as well as commercial vehicles is said to be the main driving factor of the automotive fasteners market share.
The growing adoption of electrical vehicles (EV) creating a great possibility for the fasteners industry. EV producers are that specialize in cost-powerful fasteners to reduce and optimize manufacturing charges. There’s also been a great funding being made in EVs by government authorities as well as private players.
Comprehensive Analysis of Automotive Fasteners Market
The automotive fasteners market is seen growing at a swift pace owing to its market segmentation. These market segmentations are then bifurcated into type analysis, material analysis, characteristics analysis, vehicle type analysis, and region. Based on type analysis, threaded type segment takes lead. In terms of material analysis, metal segment holds the largest market share. As per characteristics analysis, removable segment dominates the industry. Wherein, on the basis of vehicle type, passenger vehicles captured highest share in 2023.
Based on regional analysis, the Asia Pacific regional market dominates the global automotive fasteners industry. The region held the highest market share in 2023 owing to surge in automotive industry. Additionally, countries such as India, and China, has government initiatives that help them setting up advanced manufacturing facilities. The introduction of EVs is said to fuel the market growth in upcoming years.
Strategic partnerships are being carried out by key industry operators in order to sustain their market share. The entities are continuously entering mergers and acquisitions to support growth and expand their functions.These companies include, Bulten AB (Switzerland), KAMAX Holding GmBH & Co. KG (Germany), Stanley Black & Decker, Inc. (U.S.), Berkshire Hathaway Inc. (U.S.), Illinois Tool Works Inc. (U.S.), MEIDOH Co., LTD. (Japan), Sterling Tools Ltd. (India), Westfield Fasteners Ltd (U.K.), Shanghai Prime Machinery Company Limited (China), Sundaram Fasteners (India).
In January 2024, a leading automotive fasteners manufacturer, MEIDOH Co. Ltd, acquired an aerospace fastener manufacturer, Pilgrim Screw Corp. The said acquisition will allow MEIDOH Co. Ltd. to expand its business empire across the aerospace industry.
Segmentation Table
Automotive Fasteners Market Scope
Study Period 2019-2032
Base Year 2023
Estimated Year 2024
Forecast Period 2024-2032
Historical Period 2019-2022
Growth Rate CAGR of 5.55% from 2024-2032
Unit Value (USD Billions)
Segmentation By Type, By Material, By Characteristics, By Vehicle Type, By Geography
By Type Threaded
Non-Threaded
By Material Metal
Plastics
By Characteristics Removable
Permanent
By Vehicle Type Passenger Cars (PC)
Commercial Vehicles
By Geography North America (By Type, By Material, By Characteristic, By Vehicle Type)
- U.S.(By Type, By Material, By Characteristic, By Vehicle Type)
- Canada (By Type, By Material, By Characteristic, By Vehicle Type)
- Mexico (By Type, By Material, By Characteristic, By Vehicle Type)
Europe (By Type, By Material, By Characteristic, By Vehicle Type)
- Germany (By Type, By Material, By Characteristic, By Vehicle Type)
- France (By Type, By Material, By Characteristic, By Vehicle Type)
- U.K. (By Type, By Material, By Characteristic, By Vehicle Type)
- Rest of Europe (By Type, By Material, By Characteristic, By Vehicle Type)
Asia Pacific
- China (By Type, By Material, By Characteristic, By Vehicle Type)
- Japan (By Type, By Material, By Characteristic, By Vehicle Type)
- India (By Type, By Material, By Characteristic, By Vehicle Type)
- South Korea (By Type, By Material, By Characteristic, By Vehicle Type)
- Rest of Asia Pacific (By Type, By Material, By Characteristic, By Vehicle Type)
Rest of the World (By Type, By Material, By Characteristic, By Vehicle Type)
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- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
- 4. Key Insights
- 4.1. Key Industry Developments –Mergers, Acquisitions and Partnerships
- 4.2. Porters Five Forces Analysis
- 4.3. Technological Development
- 4.4. Impact of Covid-19
- 5. Global Automotive Fasteners Market Analysis, Insights and Forecast, 2019-2032
- 5.1. Key Findings / Definitions
- 5.2. Market Analysis, Insights and Forecast – By Type
- 5.2.1. Threaded
- 5.2.2. Non-threaded
- 5.3. Market Analysis, Insights and Forecast – By Material
- 5.3.1. Metal
- 5.3.2. Plastic
- 5.4. Market Analysis, Insights and Forecast – By Characteristics
- 5.4.1. Permanent
- 5.4.2. Non-permanent
- 5.5. Market Analysis, Insights and Forecast – By Vehicle type
- 5.5.1. Passenger Car
- 5.5.2. Commercial Vehicle
- 5.6. Market Analysis, Insights and Forecast – By Region
- 5.6.1. North America
- 5.6.2. Europe
- 5.6.3. Asia pacific
- 5.6.4. Rest of the world
- 6. North America Automotive Fasteners Market Analysis, Insights and Forecast, 2019-2032
- 6.1. Market Analysis, Insights and Forecast – By Type
- 6.1.1. Threaded
- 6.1.2. Non-threaded
- 6.2. Market Analysis, Insights and Forecast – By Material
- 6.2.1. Metal
- 6.2.2. Plastic
- 6.3. Market Analysis, Insights and Forecast – By Characteristics
- 6.3.1. Permanent
- 6.3.2. Non-permanent
- 6.4. Market Analysis, Insights and Forecast – By Vehicle Type
- 6.4.1. Passenger Car
- 6.4.2. Commercial Vehicle
- 6.5. Market Analysis – By Country
- 6.5.1. The U.S.
- 6.5.1.1. By Type
- 6.5.1.2. By Material
- 6.5.1.3. By Characteristics
- 6.5.1.4. By Vehicle Type
- 6.5.2. Canada
- 6.5.2.1. By Type
- 6.5.2.2. By Material
- 6.5.2.3. By Characteristics
- 6.5.2.4. By Vehicle Type
- 6.5.3. Mexico
- 6.5.3.1. By Type
- 6.5.3.2. By Material
- 6.5.3.3. By Characteristics
- 6.5.3.4. By Vehicle Type
- 7. Europe Automotive Fasteners Market Analysis, Insights and Forecast, 2019-2032
- 7.1. Market Analysis, Insights and Forecast – By Type
- 7.1.1. Threaded
- 7.1.2. Non-threaded
- 7.2. Market Analysis, Insights and Forecast – By Material
- 7.2.1. Metal
- 7.2.2. Plastic
- 7.3. Market Analysis, Insights and Forecast – By Characteristics
- 7.3.1. Permanent
- 7.3.2. Non-permanent
- 7.4. Market Analysis, Insights and Forecast – By Vehicle Type
- 7.4.1. Passenger Car
- 7.4.2. Commercial Vehicle
- 7.5. Market Analysis – By Country
- 7.5.1. The U.K
- 7.5.1.1. By Type
- 7.5.1.2. By Material
- 7.5.1.3. By Characteristics
- 7.5.1.4. By Vehicle Type
- 7.5.2. Germany
- 7.5.2.1. By Type
- 7.5.2.2. By Material
- 7.5.2.3. By Characteristics
- 7.5.2.4. By Vehicle Type
- 7.5.3. France
- 7.5.3.1. By Type
- 7.5.3.2. By Material
- 7.5.3.3. By Characteristics
- 7.5.3.4. By Vehicle Type
- 7.5.4. Rest of Europe
- 7.5.4.1. By Type
- 7.5.4.2. By Material
- 7.5.4.3. By Characteristics
- 7.5.4.4. By Vehicle Type
- 8. Asia Pacific Automotive Fasteners Market Analysis, Insights and Forecast, 2019-2032
- 8.1. Market Analysis, Insights and Forecast – By Type
- 8.1.1. Threaded
- 8.1.2. Non-threaded
- 8.2. Market Analysis, Insights and Forecast – By Material
- 8.2.1. Metal
- 8.2.2. Plastic
- 8.3. Market Analysis, Insights and Forecast – By Characteristics
- 8.3.1. Permanent
- 8.3.2. Non-permanent
- 8.4. Market Analysis, Insights and Forecast – By Vehicle Type
- 8.4.1. Passenger Car
- 8.4.2. Commercial Vehicle
- 8.5. Market Analysis – By Country
- 8.5.1. China
- 8.5.1.1. By Type
- 8.5.1.2. By Material
- 8.5.1.3. By Characteristics
- 8.5.1.4. By Vehicle Type
- 8.5.2. India
- 8.5.2.1. By Type
- 8.5.2.2. By Material
- 8.5.2.3. By Characteristics
- 8.5.2.4. By Vehicle Type
- 8.5.3. Japan
- 8.5.3.1. By Type
- 8.5.3.2. By Material
- 8.5.3.3. By Characteristics
- 8.5.3.4. By Vehicle Type
- 8.5.4. South Korea
- 8.5.4.1. By Type
- 8.5.4.2. By Material
- 8.5.4.3. By Characteristics
- 8.5.4.4. By Vehicle Type
- 8.5.5. Rest of Asia Pacific
- 8.5.5.1. By Type
- 8.5.5.2. By Material
- 8.5.5.3. By Characteristics
- 8.5.5.4. By Vehicle Type
- 9. Rest of the World Automotive Fasteners Market Analysis, Insights and Forecast, 2019-2032
- 9.1. Market Analysis, Insights and Forecast – By Type
- 9.1.1. Threaded
- 9.1.2. Non-threaded
- 9.2. Market Analysis, Insights and Forecast – By Material
- 9.2.1. Metal
- 9.2.2. Plastic
- 9.3. Market Analysis, Insights and Forecast – By Characteristics
- 9.3.1. Permanent
- 9.3.2. Non-permanent
- 9.4. Market Analysis, Insights and Forecast – By Vehicle Type
- 9.4.1. Passenger Car
- 9.4.2. Commercial Vehicle
- 10. Competitive Analysis
- 10.1. Key Industry Development
- 10.2. Global Market Ranking Analysis (2023)
- 10.3. Competition Dashboard
- 10.4. Comparative Analysis – Major Players
- 10.5. Company Profiles
- 10.5.1. Bulten AB (Sweden)
- 10.5.1.1. Overview
- 10.5.1.2. Products & services
- 10.5.1.3. SWOT analysis
- 10.5.1.4. Recent developments
- 10.5.1.5. strategies
- 10.5.1.6. financials (based on availability)
- 10.5.2. KAMAX Holding GmbH & Co. KG (Germany)
- 10.5.2.1. Overview
- 10.5.2.2. Products & services
- 10.5.2.3. SWOT analysis
- 10.5.2.4. Recent developments
- 10.5.2.5. strategies
- 10.5.2.6. financials (based on availability)
- 10.5.3. Stanley Black & Decker, Inc. (U.S.)
- 10.5.3.1. Overview
- 10.5.3.2. Products & services
- 10.5.3.3. SWOT analysis
- 10.5.3.4. Recent developments
- 10.5.3.5. strategies
- 10.5.3.6. financials (based on availability)
- 10.5.4. Berkshire Hathaway Inc. (U.S.)
- 10.5.4.1. Overview
- 10.5.4.2. Products & services
- 10.5.4.3. SWOT analysis
- 10.5.4.4. Recent developments
- 10.5.4.5. strategies
- 10.5.4.6. financials (based on availability)
- 10.5.5. Illinois Tool Works Inc. (U.S.)
- 10.5.5.1. Overview
- 10.5.5.2. Products & services
- 10.5.5.3. SWOT analysis
- 10.5.5.4. Recent developments
- 10.5.5.5. strategies
- 10.5.5.6. financials (based on availability)
- 10.5.6. MEIDOH Co., LTD. (Japan)
- 10.5.6.1. Overview
- 10.5.6.2. Products & services
- 10.5.6.3. SWOT analysis
- 10.5.6.4. Recent developments
- 10.5.6.5. strategies
- 10.5.6.6. financials (based on availability)
- 10.5.7. Sterling Tools Ltd. (India)
- 10.5.7.1. Overview
- 10.5.7.2. Products & services
- 10.5.7.3. SWOT analysis
- 10.5.7.4. Recent developments
- 10.5.7.5. strategies
- 10.5.7.6. financials (based on availability)
- 10.5.8. Westfield Fasteners Ltd (UK)
- 10.5.8.1. Overview
- 10.5.8.2. Products & services
- 10.5.8.3. SWOT analysis
- 10.5.8.4. Recent developments
- 10.5.8.5. strategies
- 10.5.8.6. financials (based on availability)
- 10.5.9. Shanghai Prime Machinery Company Limited (China)
- 10.5.9.1. Overview
- 10.5.9.2. Products & services
- 10.5.9.3. SWOT analysis
- 10.5.9.4. Recent developments
- 10.5.9.5. strategies
- 10.5.9.6. financials (based on availability)
- 10.5.10. Sundaram Fasteners (India)
- 10.5.10.1. Overview
- 10.5.10.2. Products & services
- 10.5.10.3. SWOT analysis
- 10.5.10.4. Recent developments
- 10.5.10.5. strategies
- 10.5.10.6. financials (based on availability)
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