The "Automotive Fasteners Market - Growth, Trends, and Forecast (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
The automotive fasteners market is expected to exhibit a CAGR of 5% during the forecast period (2020-2025).
The rise in electrification trend across the globe, especially in Europe and emerging economies such as China is fueling the market growth for automotive fasteners. Electric vehicles require different fasteners than IC engine vehicles to fasten battery and other components. By 2030, International Energy Agency predicts the global market share of 30% for electric vehicles
- Bulten AB
- Shanghai Tianbao Fastener Manufacturing company Limited
- Westfield Fasteners Limited
- The Phillips Screw Company
- KOVA Fasteners Private Limited
- KAMAX Holding GmbH & Co. KG
- LISI Group
- Illinois Tool Works Inc.
- The SFS Group AG
- Nifco Inc.
- Jiangsu Xing Chang Jiang International Co., Ltd.
Key Market Trends
Infrastructure Development is Driving the Market Growth for Automotive Fasteners
The automotive industry is going through a period of declining sales and production that started during late 2018 owing to slow economic growth. The global vehicle production in 2019 stood at 91.78 million vehicles (passenger and commercial), which was 5.2% as compared to 2018. In addition to this, the coronavirus outbreak that started during second half of December 2019 has hardly hit China, South Korea and Europe, the major automotive and automotive component producing geographies, leading to shutting down of manufacturing facilities by many manufacturers such as Hyundai and Tesla motors.
However, the global electric vehicle, autonomous vehicles and two-wheeler markets are expected to show a good growth during the forecast period.
The used car market across the world is growing rapidly. The main reasons for the same has been the advent of organized players in developing nations, rise in income levels, increasing demand for luxury cars, shorter car ownership periods, booming import-export and a growing preference of two-wheeler owners to upgrade to small and compact cars. Organized players provide a decent warranty and better service than aftermarket players and change vehicle components if necessity arises. Aforementioned factors are driving the growth of the used car market and thus automotive fasteners market due to replacement cycle.
Asia Pacific to Exhibit the Highest Growth Rate During the Forecast Period
Countries such as India, China and South Korea are major OEM hubs in the world and prominent automotive makers source fasteners from several players located in these geographies. The domestic demand in Asia Pacific is also on the rise owing to the increased investment in infrastructure development, growth in shared mobility market, etc.
Increase in disposable income in emerging economies such as China and India have allowed customers to spend on travel. Air travel industry grew by 6% in 2018. This is resulted in increased usage of Airport transportation system. More than 50% of car rental revenue came from airport usage in 2019 which is expected to grow to 57.66% by 2025.
Owing to the growing tourism and increasing construction, mining, and logistics activities across several countries in the Asia Pacific region, the demand for heavy-duty commercial vehicles is likely to increase during the forecast period. The aforementioned factor is expected to drive the market growth for automotive fasteners.
Key Topics Covered:
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.2.1 Passenger Vehicles
5.2.2 Commercial Vehicles
5.3.1 IC Engine Vehicles
5.3.2 Electric Vehicles
5.6.1 North America
5.6.4 South America
6 COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles
6.2.1 Bulten AB
6.2.2 Shanghai Tianbao Fastener Manufacturing company Limited
6.2.3 Westfield Fasteners Limited
6.2.4 The Phillips Screw Company
6.2.5 KOVA Fasteners Private Limited
6.2.6 KAMAX Holding GmbH & Co. KG
6.2.7 LISI Group
6.2.8 Illinois Tool Works Inc.
6.2.9 The SFS Group AG
6.2.10 Nifco Inc.
6.2.11 Jiangsu Xing Chang Jiang International Co., Ltd.
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
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