As per the fresh report, published by MRFR, on the Global Automotive Fasteners market has seen remarkable growth; expected to rise at a CAGR of 4.5%. The increase in sales of automobiles and the demand for lightweight vehicles will influence the sales and Automotive Fasteners market revenue.
Automotive Fasteners Market 2019 Global Industry Analysis To 2023, report on “Global Automotive Fasteners Industry” published by Market Research Future. Global Automotive Fasteners Market Information by Type (Threaded, Non-Threaded), Material (Iron, Aluminum, Brass, Nickel, Others), Distribution Channel, End-use (Removable, Semi-Permanent, Permanent) and Region – Forecast till 2023.
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Major Automotive Fasteners Companies covered in the market report include Phillips Screw Company (the U.S.), Permanent Technologies Inc. (the U.S.), Atotech (Germany), Jiangsu Xing Chang Jiang International Co., Ltd. (China),Shanghai Tianbao Fastener Manufacturing Co., Ltd. (China), and Shamrock International (the U.S.), Nifco Inc. (Japan), KOVA Fasteners Pvt Ltd (India), Bulten AB (Sweden), and Westfield Fasteners Limited (the U.K.) and others
Global Market Highlights:
Global Automotive Fasteners market has seen remarkable growth; expected to rise at a CAGR of 4.5%.
The continuous growth in the sales of automobiles and the growing automotive components industry drive the automotive fasteners market. The growing need for technical development and design improvement in automotive fasteners will increase the demand in the global market for automotive fasteners. The trend for using replaceable fasteners in vehicles will further increase the ease of use for automotive fasteners and boost the market growth. The increased demand for vehicle stability and reduced vehicle weight will lead to the preference of fasteners over welding. This will be a growth opportunity for the global automotive fasteners market. In recent times, manufacturers have majorly been focusing on improving the design and quality of fasteners. They have been acquiring design companies for enhancing the designs of their automotive fasteners. However, there are various substitutes in the global market for automotive fasteners such as welding and clinching, which might hinder the market growth. Moreover, the large unorganized aftermarket for automotive fasteners might also be a challenge for the manufacturers.
Increasing utilization of automobiles in developed and developing countries as result of rapid rise in population is leading to the high demand for maintenance of passenger, and commercial vehicles are majorly propelling the growth of the global automotive fasteners market during the assessment period. Rapid expansion of automotive industry, high demand for passenger as well as commercial vehicles, and increased manufacturing of automotive are also considered to be the contributing factors for the growth of the global automotive fasteners market.
The scope of the study segments the global automotive fasteners market by type, materials, distribution channel, end-use, and regions.
By Distribution Channel:
The Europe region has retained second position in the global automotive fasteners market with respect to market size. Surge in demand for automobiles, development and utilization fuel based as well as electric vehicles, increased production of automotive tires and rapid industrialization are majorly fueling the growth of the automotive fasteners market in the Europe region. Proliferation in automotive manufacturers, increased investments for business development and rise in import of automotive are primary contributing factors for the expansion of the automotive fasteners market in the North America region.
Global automotive fasteners market has been geographically segmented into five major regions such as North America, Asia Pacific (APAC), Europe and the rest of the world. The Asia Pacific region commands the dominant share of the global automotive fasteners market during the assessment period. Rapid expansion of automotive industry, high demand for passenger as well as commercial vehicles, increased automotive manufacturing due to the availability of cheaper raw materials and increased export of automotive parts in the emerging economies of China and India are majorly fueling the growth of the automotive fasteners market in the Asia Pacific region.
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List of Tables:
TABLE 1 GLOBAL AUTOMOTIVE FASTENERS MARKET: BY REGION, 2018-2023
TABLE 2 NORTH AMERICA AUTOMOTIVE FASTENERS MARKET: BY COUNTRY, 2018-2023
TABLE 3 EUROPE AUTOMOTIVE FASTENERS MARKET: BY COUNTRY, 2018-2023
TABLE 4 ASIA-PACIFIC AUTOMOTIVE FASTENERS MARKET: BY COUNTRY, 2018-2023
List of Figures:
FIGURE 1 RESEARCH PROCESS OF MRFR
FIGURE 2 TOP DOWN & BOTTOM UP APPROACH
FIGURE 3 MARKET DYNAMICS
FIGURE 4 IMPACT ANALYSIS: MARKET DRIVERS
FIGURE 5 IMPACT ANALYSIS: MARKET RESTRAINTS
FIGURE 6 PORTER’S FIVE FORCES ANALYSIS
FIGURE 7 VALUE CHAIN ANALYSIS
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