(EMAILWIRE.COM, October 11, 2019 ) The Global Automotive Fastener Market is projected to grow from an estimated USD 21.45 Billion in 2018 to USD 25.30 Billion by 2025, at a CAGR of 2.39% from 2018 to 2025.

The market is anticipated to grow owing to various reasons such as the growing vehicle production, shifting focus toward lightweight vehicles, and the increasing use of electronics such as ignition, carputers, telematics, and in-car entertainment systems in vehicles.

The study covers all the major players in the automotive fastener market, including established players such as Bulten AB (Sweden), KAMAX (Germany), Sundram Fasteners (India), Stanley Black & Decker (US), Shanghai Prime Machinery Company (China), SFS Group (Switzerland), and Lisi Group (France). These companies collectively account for a major share of the automotive fastener market. The report also comprises a few other players such as Meidoh Co. (Japan), Nipman Fasteners (India), Piolax (US), Westfield Fasteners (UK), Fontana Gruppo (Italy), Bollhoff (Germany), Nedshroef (Netherlands), Nifco Group (Japan), Boltun Corporation (Taiwan), Chanshu City Standard Parts (China), Wurth Group (Germany), and Simmonds Marshall (India)

Opportunities:

• Government Mandates Related to Safety Features & Increasing Use of Electronics in Vehicle
• Significant Developments in Powertrain Innovations
• Growth in the Number of Semi-Autonomous Cars
• Growth in the Electric Vehicle Industry

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Removable automotive fasteners enable the parts to be disconnected readily without any damage. These fasteners contribute the maximum share in the total number of fasteners used in an automobile. Removable automotive fasteners such as nuts, bolts, and studs can be installed and removed easily with the help of hand tools or power tools. These types of fasteners have a long life and can be used multiple times. The penetration of removable fastener in automobiles is high due to its properties.

The interior trim segment is estimated to be the fastest-growing segment of the fastener market, by application, in terms of value. Automobile manufacturers are now focusing on using lightweight fasteners in the major application areas to reduce the weight of the vehicle. The automakers’ focus is high on the interior trims where the application of plastic and aluminum fasteners is increasing to achieve weight reduction, which will drive the requirement of fasteners.

The passenger car segment is estimated to be the largest segment in the automotive fastener market, by vehicle type. Increasing demand for lightweight fasteners, government mandates for fuel economy and emission reduction, and an increase in per capita income are the factors fueling the demand for passenger cars in developing countries such as China and India. The production of passenger cars has shown steep growth in developing countries. Developed countries in Europe and North America have a high demand for SUVs and premium cars, which will further boost the demand for the passenger car segment. Also, the demand for premium vehicles in India and China has also witnessed an upward market trend in the last few years. These factors have boosted the global demand for the fastener market for the passenger car segment.

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Target Audience:

• Manufacturers of automotive fasteners
• Automotive OEMs
• Electric vehicle manufacturers
• Industry associations and experts
• Traders, distributors, and suppliers of automotive fasteners