Reports > Automotive And Mobility > Automotive Fasteners Market Report
Automotive Fasteners Market Size, Share, Industry Trends and Forecast to 2033
This report provides a comprehensive analysis of the Automotive Fasteners market, covering key insights, data on market sizes, growth trends, and forecasts from 2023 to 2033. It offers an in-depth look into various segments, regional trends, and top industry players.
| Metric | Value |
|---|---|
| Study Period | 2023 - 2033 |
| 2023 Market Size | $21.50 Billion |
| CAGR (2023-2033) | 5.8% |
| 2033 Market Size | $38.29 Billion |
| Top Companies | Stanley Engineered Fastening, Illinois Tool Works Inc., Thyssenkrupp AG, Nifco Inc., Bossard Group |
| Last Modified Date | 15 Nov 2024 |
Automotive Fasteners Market Report (2023 - 2033)
Automotive Fasteners Market Overview
What is the Market Size & CAGR of Automotive Fasteners market in 2023?
Automotive Fasteners Industry Analysis
Automotive Fasteners Market Segmentation and Scope
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Automotive Fasteners Market Analysis Report by Region
Europe Automotive Fasteners Market Report:
In 2023, Europe’s automotive fasteners market stands at about $6.77 billion. It is projected to reach $12.06 billion by 2033. The growth is fueled by increasing electric vehicle adoption and stringent safety regulations, necessitating advanced fastener solutions.Asia Pacific Automotive Fasteners Market Report:
In 2023, the Asia Pacific automotive fasteners market is valued at approximately $3.96 billion, projected to grow to $7.06 billion by 2033. This growth is driven by rising automotive manufacturing in countries like China, Japan, and India, where significant investments are being made into automotive production and technology.North America Automotive Fasteners Market Report:
North America's automotive fasteners market is set to grow from $7.92 billion in 2023 to $14.10 billion by 2033. The market is driven by high automotive production in the U.S. and the growing trend of electric vehicles, which require specialized fastening solutions.South America Automotive Fasteners Market Report:
The South American automotive fasteners market was valued at about $1.92 billion in 2023 and is expected to reach $3.42 billion by 2033. The growth is primarily due to increasing automotive sales, particularly in Brazil and Argentina, alongside efforts to localize production.Middle East & Africa Automotive Fasteners Market Report:
Middle East and Africa’s automotive fasteners market is valued at approximately $0.93 billion in 2023, with projections to reach $1.65 billion by 2033. The automotive sector is expanding in countries like South Africa and the UAE, providing growth opportunities for fastener manufacturers.Request a custom research report for industry.
Automotive Fasteners Market Analysis By Material
Global Automotive Fasteners Market, By Material Market Analysis (2023 - 2033)
In terms of material, metal fasteners dominate the market with a share of 62.25% in 2023, growing with demand for high strength fasteners, which are essential for vehicle safety and performance. Plastic fasteners, while smaller in market size at 22.41%, are gaining traction in specific applications due to their lightweight and corrosion-resistant properties.
Automotive Fasteners Market Analysis By Type
Global Automotive Fasteners Market, By Type Market Analysis (2023 - 2033)
Bolts form the largest segment of the market with a total size of $11.32 billion in 2023, projected to increase to $20.16 billion by 2033. Nuts and screws follow with market sizes of $5.22 billion and $2.31 billion, respectively, emphasizing the importance of these products in vehicle assembly and structure.
Automotive Fasteners Market Analysis By Application
Global Automotive Fasteners Market, By Application Market Analysis (2023 - 2033)
Engine applications account for a significant 52.64% share of the total market in 2023. This is followed by chassis applications, which represent 24.29% of the market. Rapid advancements in engine technology and the expanse of alternative fuel vehicles play a crucial role in this growth.
Automotive Fasteners Market Analysis By Vehicle Type
Global Automotive Fasteners Market, By Vehicle Type Market Analysis (2023 - 2033)
The passenger car segment leads the market with a 62.25% share in 2023, valued at $13.38 billion. Commercial vehicles and electric vehicles represent 22.41% and 15.34% of the market, highlighting the growing acceptance of electric technologies within the automotive sector.
Automotive Fasteners Market Analysis By Grade
Global Automotive Fasteners Market, By Grade Market Analysis (2023 - 2033)
High strength fasteners dominate with a market size reflecting 62.25% share, emphasizing their importance in safety-critical applications in vehicles. Standard fasteners follow with 22.41%, while specialized fasteners capture 15.34% of the market, indicating diverse requirements across spectra of automotive applications.
Automotive Fasteners Market Trends and Future Forecast
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Global Market Leaders and Top Companies in Automotive Fasteners Industry
Stanley Engineered Fastening:
A leading provider of fastening solutions, offering a range of engineered fasteners for automotive applications and focusing on innovation to meet evolving customer needs.Illinois Tool Works Inc.:
Specializes in manufacturing industrial products, including automotive fasteners, known for their focus on quality and extensive product portfolio serving various automotive segments.Thyssenkrupp AG:
A major player in the automotive fasteners field, offering a wide array of fasteners and engineering services aimed at enhancing automotive safety and efficiency.Nifco Inc.:
A specialist in plastic fasteners, contributing to innovations that reduce weight and improve fuel efficiency in vehicles, particularly in the growing electric vehicle segment.Bossard Group:
Focuses on logistics and fastening solutions, providing comprehensive services that enhance supply chain efficiency for automotive manufacturers.We're grateful to work with incredible clients.
