According to a new report, published by KBV research, The Global Automotive Fasteners Market size is expected to reach $33 billion by 2030, rising at a market growth of 5.6% CAGR during the forecast period.
The Threaded segment is generating maximum revenue in the Global Automotive Fasteners Market by Type in 2022; thereby, achieving a market value of $22 billion by 2030. The need for thread fasteners has increased due to rising automobile sales. Threaded fasteners are usually selected for replaceable chassis and engine components that need routine maintenance. Bolts, referred to as threaded automotive fasteners, feature a head on one end and a nut on the other. These fasteners are frequently inserted through a hole and secured with a nut.
The Plastic segment is registering a CAGR of 6.3% during (2023 - 2030). The non-corrosive nature of plastic fasteners significantly lowers the cost of maintenance. Electric vehicles can use plastic fasteners because they don't conduct electricity. Plastic fasteners are expanding due to the rising demand for lightweight fasteners and their affordability and lightweight properties.
The Removable segment is leading the Global Automotive Fasteners Market by Characteristic in 2022; thereby, achieving a market value of $21.4 billion by 2030. For applications that frequently require disassembly and assembly, removable fasteners like screws and bolts are used. They are simple to remove without breaking using hand or power tools. Compared to permanent fasteners, these kinds of fasteners last a long time. Removable fasteners are economical due to their ability to be reused.
The Commercial Vehicles segment would showcase a CAGR of 4% during (2023 - 2030). The demand for light commercial vehicles will increase due to changes in the auto sector and rising industrial activity. The segment’s demand for light commercial vehicles will grow as e-commerce and third-party logistics expand since these vehicles are ideal for making last-mile deliveries.
The Asia Pacific region dominated the Global Automotive Fasteners Market by Region in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $13.4 billion by 2030. The Europe market is poised to grow at a CAGR of 5.2% during (2023 - 2030). Additionally, The North America market would witness a CAGR of 5.4% during (2023 - 2030).
Full Report: https://www.kbvresearch.com/automotive-fasteners-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Bulten AB, KAMAX Holding GmbH & Co. KG, Stanley Black & Decker, Inc., Berkshire Hathaway, Inc., Illinois Tool Works Inc., SFS Group AG, LISI GROUP, Westfield Fasteners Ltd, Shanghai Prime Machinery Co., Ltd. (Shanghai Electric Group Company Limited) and Sundram Fasteners Limited (TVS Group).
By Type
By Material Type
By Characteristic
By Vehicle Type
By Geography
Companies Profiled
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