The Global Automotive Fastener Market will grow at highest pace owing to increasing automotive manufacturing
Automotive fasteners are connecting components that are used to join or fix two or more parts together in a vehicle. Some common types of automotive fasteners include nuts, bolts, screws, washers, and rivets. Automotive fasteners are vital components in vehicle manufacturing as they help in easily assembling different vehicle parts such as bumpers, doors, engines, instrument panels, and more. Growth in the automotive industry has resulted in increased demand for innovative and durable fastening solutions that can withstand extreme pressure, vibrations and temperatures.
The Global Automotive Fastener Market is estimated to be valued at US$ 33.9 Bn in 2024 and is expected to exhibit a CAGR of 4.7% over the forecast period 2024 To 2031.
Key Takeaways
Key players operating in the Global Automotive Fastener market are Atotech Deutschland GmbH, Birmingham Fastener, Inc., Bulten AB, Jiangsu Xing Chang Jiang International Co., Ltd., KAMAX, KOVA Fasteners Private Limited, Lisi Group, PennEngineering, Permanent Technologies, Inc., Phillips screw company, SFS Group, Shamrock International Fasteners, Shanghai Prime Machinery Company, Shanghai Tianbao Fastener Manufacturing Co., Ltd., Stanley Black Decker, Sundram Fasteners Limited, Westfield Fasteners Limited. The rising global automotive production and implementation of stringent fuel efficiency regulations are fueling the demand for light weight fasteners. Major manufacturers are investing in research and development to develop new fastener designs using lightweight materials like aluminum and magnesium alloys to reduce vehicle weight. Automotive fastener companies are increasingly adopting 3D printing and robotics for automating the manufacturing process to improve productivity and quality.
Market Trends
Growing electric vehicles market: With increasing focus on developing electric and hybrid vehicles globally, automotive OEMs are focusing on developing lightweight fasteners to improve vehicle efficiency. This will drive demand for innovative fasteners optimized for electric vehicles.
Increasing adoption of 3D printing: 3D printing technology enables complex fastener designs with intricate geometries that are difficult to manufacture through conventional methods. Leading automakers are collaborating with fastener companies to utilize 3D printing for low volume production and customized just-in-time supply.
Get More Insight On :
https://www.newsstatix.com/global-automotive-fastener-market-demand-share-analysis/
The Global Automotive Fastener Market will grow at highest pace owing to increasing automotive manufacturing
Automotive fasteners are connecting components that are used to join or fix two or more parts together in a vehicle. Some common types of automotive fasteners include nuts, bolts, screws, washers, and rivets. Automotive fasteners are vital components in vehicle manufacturing as they help in easily assembling different vehicle parts such as bumpers, doors, engines, instrument panels, and more. Growth in the automotive industry has resulted in increased demand for innovative and durable fastening solutions that can withstand extreme pressure, vibrations and temperatures.
The Global Automotive Fastener Market is estimated to be valued at US$ 33.9 Bn in 2024 and is expected to exhibit a CAGR of 4.7% over the forecast period 2024 To 2031.
Key Takeaways
Key players operating in the Global Automotive Fastener market are Atotech Deutschland GmbH, Birmingham Fastener, Inc., Bulten AB, Jiangsu Xing Chang Jiang International Co., Ltd., KAMAX, KOVA Fasteners Private Limited, Lisi Group, PennEngineering, Permanent Technologies, Inc., Phillips screw company, SFS Group, Shamrock International Fasteners, Shanghai Prime Machinery Company, Shanghai Tianbao Fastener Manufacturing Co., Ltd., Stanley Black Decker, Sundram Fasteners Limited, Westfield Fasteners Limited. The rising global automotive production and implementation of stringent fuel efficiency regulations are fueling the demand for light weight fasteners. Major manufacturers are investing in research and development to develop new fastener designs using lightweight materials like aluminum and magnesium alloys to reduce vehicle weight. Automotive fastener companies are increasingly adopting 3D printing and robotics for automating the manufacturing process to improve productivity and quality.
Market Trends
Growing electric vehicles market: With increasing focus on developing electric and hybrid vehicles globally, automotive OEMs are focusing on developing lightweight fasteners to improve vehicle efficiency. This will drive demand for innovative fasteners optimized for electric vehicles.
Increasing adoption of 3D printing: 3D printing technology enables complex fastener designs with intricate geometries that are difficult to manufacture through conventional methods. Leading automakers are collaborating with fastener companies to utilize 3D printing for low volume production and customized just-in-time supply.
Get More Insight On : https://www.newsstatix.com/global-automotive-fastener-market-demand-share-analysis/
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