Stratview Research predicts that the automotive fastener market will grow at a healthy CAGR of 3.2% over the next five years.

These estimates are the result of a market analysis for the period 2013-18, Stratview research delves into the issues shaping the market and estimates the most likely future growth rate for the automotive fastener market for the period 2019-2024.

Identify factors and pathways for growth

The most frequently asked questions and questions that tend to consume the psyche of business visionaries and leaders, the new “Stratview Research” report on the Automotive Fasteners Market answers all important inquiries.

Fasteners are widely used in the automotive industry, of which the automotive industry is undoubtedly one of the largest market segments. The automotive industry fasteners market appears to be resilient and is likely to witness a healthy CAGR of 3.2% over the forecast period. Rising vehicle production in various regions, especially Asia Pacific and Eastern Europe, and increasing demand for electric and alternative powertrain vehicles are the key drivers for the automotive fastener market.

In addition to the organic growth in automotive production, several other factors are contributing to the growth of the automotive industry fasteners market. A key factor is the introduction of stringent regulations, such as the CAF® standard and the EU’s carbon reduction targets, which force automakers to adopt lightweight materials to improve fuel efficiency. Fastener companies could not escape from this and began to face enormous pressure to reduce the weight of their fasteners. They are addressing these challenges by developing lightweight plastic and aluminum fasteners for a variety of automotive applications.

Unlock key segments

The true picture of the market will not emerge until the market is analyzed from various viewpoints. Each vantage point provides a better understanding of the market.

This means that a clear understanding of the various segments of the market and insights into them can be crucial for many players.

Automotive Fasteners Market By Product Type, Feature Type, Fastener Type, Material Type, Coating Type, Vehicle Type, Application Type, End User Type, By Region. Insights from each segment are critical to any player.

Each segment view helps us answer a salient question, and no matter where he is in the value chain, we provide the best market intelligence of interest to every player in the market.

Based on feature type, the automotive fasteners market is segmented into removable fasteners, permanent fasteners, and semi-permanent fasteners. Removable fasteners lead the fastener market in the automotive industry and are expected to maintain its leadership in the future. Removable fasteners make up the largest number of fasteners used in automobiles because they can be easily removed by hand or power tools without causing any damage to the components or the fasteners themselves.

Passenger cars remain dominant

Based on model, the market is segmented into passenger cars, light commercial vehicles, and medium and heavy commercial vehicles. The passenger car market is expected to be the largest segment during the forecast period, driven by a large number of passengers worldwide. Increasing disposable income and improving lifestyles, especially in emerging economies such as China and India, are causing a greater appetite among customers to buy passenger cars. In the passenger car segment, hatchbacks and SUVs are generating greater demand for fasteners.

Interior trim remains the dominant application

On the basis of application type, the automotive fasteners market is segmented into engine, chassis, interior, front/rear axle, steering, transmission, and others. Interiors are expected to be the fastest growing segment during the forecast period. The growing focus on improving fuel efficiency has led to greater adoption of lightweight materials such as plastics and aluminum. A similar trend is seen in the interior fastener market. All major automakers are now focusing on plastic and aluminium fasteners, especially interior parts, to unlock the requirements of the CAF® standard and EU carbon reduction targets.

Asia Pacific will be the largest market

In terms of regions, Asia Pacific currently dominates the automotive fastener market and is also expected to maintain its leadership over the forecast period. China, Japan, South Korea and India are growth engines in the region. Rising vehicle production, especially in China and India, due to population growth coupled with rising disposable income and the gradual shift of auto manufacturing plants from developed economies to China and India, is a major factor affecting fastener demand in the region.

Key markets such as Europe and North America are also likely to generate healthy demand for fasteners over the next five years. Germany, France and the UK are the key markets in Europe, while the US and Mexico are the key markets in North America. Stringent regulations on improving fuel efficiency and reducing carbon emissions are also affecting the fastener market dynamics, as there is a growing demand for plastic fasteners to help automakers further reduce the overall gross vehicle weight of vehicles.