Demand: Industrial Fasteners Market Size & Share to Surpass $ 109.57 Billion by 2028 | Vantage Market Research

December 16, 2022

WASHINGTON, Dec. 16, 2022 (GLOBE NEWSWIRE) -- Global Industrial Fasteners Market is valued at USD 87.10 Billion in 2021 and is projected to reach a value of USD 109.57 Billion by 2028 at a CAGR (Compound Annual Growth Rate) of 3.90% over the forecast period 2022-2028. One of the most significant economic areas is the industrial fasteners business, and consistent expansion is projected going forward. Despite the industry's turmoil, numerous things could affect its development or demise. This study assesses both the current trends and the anticipated future changes to provide a full insight of the sector. Additionally, it provides details on the significant industry players and their expansion strategies. The report provides a thorough analysis of international producers and suppliers and their current situation and future prospects. It also details the global drivers of the demand for industrial fasteners, including rising investment requirements, developing technology, and new laws. Get Access to the In-depth Free Sample Report @ Market Overview According to Vantage Market Research, some of the key factors anticipated accelerating the industrial fasteners market growth over the forecast period. One of the main factors propelling the industrial fasteners market is the rise in fastener consumption in the construction sector. Steel fasteners have a considerable standard of endurance and longer corrosion resistance. Thus the demand for machine designs utilizing stainless steel fasteners and bolts is also rising. We forecast that the automotive category in industrial fasteners market sales will account for more than 60% of total sales by 2028. Automotive OEM is a significant market for industrial fasteners. Over the last few years, the sector has been driven by high manufacturing quantities of automotive cars across Asia Pacific. Asia Pacific region dominates the market throughout the projection period. The automobiles, mechanical components, telecommunications, and construction industries dominate the regional market for industrial fasteners. The need for better urban facilities, such as motorways, harbors, bridges, and train line transportation networks, has expanded due to the region's economic expansion, which is expected to drive the market there. Market Dynamics Presence of Active Market Players in Developing Nations to Boost Market Growth With numerous participants, the industrial fasteners industry is fragmented. The emergence of several local players is anticipated to increase competition over the next few years. Manufacturers in the industrial fasteners market emphasize the material aspect and innovative designs for better grip. Many businesses are working hard to satisfy customer requests in line with current trends. To stop corrosion of the surface kind, they are launching novel goods like nano-laminated metallic-coated fasteners. Expansion of construction and automobile industries Drive the Market Growth The growing demand for industrial fasteners and the rising breadth of the construction and automotive industries are some of the key factors anticipated to propel the global market for industrial fasteners. Additionally, the market is anticipated to be driven shortly by developments in this sector's technology, increased urbanization and industrialization, and rising demand for fasteners in the aerospace sector. Limited Time Offer | Buy this Premium Research Report with Exclusive Discount and Immediate Delivery@ Top Players in the Global Industrial Fasteners Market Acument Global Technologies IncArconic IncBulten ABSTANLEY Engineered FasteningFortana GroupHilti CorporationLISI GroupMacLean-Fogg CompanyMISUMI Group IncNifco IncPrecision Castparts CorpThe SFS GroupA&G FastenersSA Fasteners For Additional Information on Industrial Fasteners Market Players and Detail List, Download a Report PDF Brochure Top Trends in Global Industrial Fasteners Market One trend that Vantage Market Research (VMR) expects to see in the industrial fasteners industry is the growing technology advances in the market. The demand is characterized by continuous technological advancements that result in cutting-edge inexpensive goods used in automobiles and other industry sectors. It is anticipated that as technology advances, there will be an increase in demand for hybridization fasteners, which combine aluminum and thermoformed plastic components.Another trend that VMR predicts will continue in the industrial fasteners industry is the increased usage of micro fasteners. Several variables encourage the use of micro fasteners, including structural necessity, compact designs, installed hardware, and limitations on the available space. Key Developments February, 2022, MacLean-Fogg Component Solutions (MFCS) launched Threadstrong Line of Made-In-USA aftermarket wheel fasteners and the accompanying e-commerce website These fasteners will be available direct to customers via the website. This strategy is expected to help the company grow its business and market share.November, 2021, MISUMI group Inc. relocated and expanded its Indian subsidiary (sales site, distribution site, and production site). This move helped the company increase the total warehouse floor space by approximately 60% compared to the previous location, double the number of in-stock items to around 90,000, and strengthen the delivery time and supply. Top Report Findings Based on product type, most of the industrial fasteners market's revenue is controlled by the nuts category due to its expanding use in the construction and automobile industries. The use of fasteners in sub or intended system parts has increased due to the increased production of medium commercial vehicles, light passenger trucks, heavy ground moving equipment, textile machinery, machine tools, airplanes, and utility vehicles.Based on end users, most of the industrial fasteners market's revenue is controlled by the automotive category Consumption of automotive fasteners is predicted to increase shortly as a result of the expansion of the vehicle sector. Automakers are continually upgrading drive-trains and more efficient engines to minimize fuel consumption.Based on the distributional channel, most of the industrial fasteners market's revenue is controlled by the direct sales category. Many people have access to alternative income possibilities through direct selling, which also promotes micro business. Direct-to-consumer (D2C) distribution channels have become more popular due to the emergence of new business models due to the internet ecosystem and changing client demands. Direct selling is a dynamic and fast-expanding method of product and service distribution. Read Full Research Report @ Top 10 Players Generates More Than 45% of the Global Industrial Fasteners Market Revenue The report also found that the largest players in the Industrial Fasteners market are technology providers such as Acument Global Technologies Inc., Arconic Inc., Bulten AB and STANLEY Engineered Fastening. These companies are expected to benefit from increased demand for their products and services and growing investments in new products. Other major players include Acument Global Technologies Inc., Arconic Inc., Bulten AB, STANLEY Engineered Fastening, Fortana Group, Hilti Corporation, LISI Group, MacLean-Fogg Company, MISUMI Group Inc., Nifco Inc., Precision Castparts Corp., The SFS Group, A&G Fasteners, and SA Fasteners. . As per latest report published by Vantage Market Research, top 10 companies are responsible for generating more than 45% revenue of the market. Automotive Category in Industrial Fasteners Market to Generate Over 70% Revenue Industrial Fasteners are an expensive investment. Vantage Market Research has analyzed the market for Industrial Fasteners to understand its current state and potential future growth factors. For better understanding, based on the aircraft type, the industrial fasteners market is divided into product type, end uses and distributional channel. During the forecast period, the market for industrial fasteners is anticipated to experience the highest CAGR for the automotive category. The increased use of industrial fasteners in the automotive industry automobile manufacturers are always developing new drive-trains and more efficient engines to reduce energy consumption. They are using greenhouse gas technology to build cleaner automobiles. On the other hand, aerospace category is anticipated to grow significantly over the forecast period. Aerospace is a significant application category in the global market, using large quantities of prime-grade fasteners. As the quantity used in the manufacture of an aircraft, the aerospace sector is regarded as an important market for industrial fasteners. Global Industrial Fasteners Market Segmentation By Product Type BoltsNutsScrewsWashersRivetsOthers (Anchors, Inserts, Rings etc.) By End-use Industry AutomotiveConstructionAerospaceOil & GasOthers (Petro-chemical, Maritime, etc.) By Distribution Channel Direct SalesIndirect Sales By Region North AmericaEuropeAsia PacificLatin AmericaMiddle East & Africa Browse market data Tables and Figures spread through 146 Pages and in-depth TOC on Industrial Fasteners Market Forecast Report (2022-2028).                         Regional Analysis North America dominates the industrial fasteners market due to rising electric vehicle production, consumer preference for plastic counterparts and adhesives, and rising demand for lightweight automotive components in the region.Europe is expected to grow significantly during forecast period of 2022 to 2028 due to increased demand for lawnmowers and small tractors, as well as widespread use in commercial and residential gardening in the region. Scope of the Report: Report AttributesDetailsMarket Size in 2021USD 87.1 BillionRevenue Forecast by 2028USD 109.5 BillionCAGR3.9% from 2022 to 2028Base Year2021Forecast Year2022 to 2028Key PlayersAcument Global Technologies Inc., Arconic Inc., Bulten AB, STANLEY Engineered Fastening, Fortana Group, Hilti Corporation, LISI Group, MacLean-Fogg Company, MISUMI Group Inc., Nifco Inc., Precision Castparts Corp., The SFS Group, A&G Fasteners, SA Fasteners Customization of the Report: The report can be customized as per client needs or requirements. For any queries, you can contact us on or +1 (202) 380-9727. Our sales executives will be happy to understand your needs and provide you with the most suitable reports. Browse More Reports from Vantage Library: About Vantage Market Research:     We, at Vantage Market Research, provide quantified B2B high quality research on more than 20,000 emerging markets, in turn, helping our clients map out constellation of opportunities for their businesses. 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