Automotive Fasteners Market to grow by USD 6.02 billion through 2025|Impacts of Drivers and Challenges|Technavio

NEW YORK, May 25, 2021 /PRNewswire/ — The «Automotive Fasteners Market by Application and Geography – Forecast and Analysis 2021-2025″…

NEW YORK, May 25, 2021 /PRNewswire/ — The «Automotive Fasteners Market by Application and Geography – Forecast and Analysis 2021-2025» report has been added to Technavio’s offering.

The automotive fasteners market is set to grow by USD 6.02 billion, progressing at a CAGR of over 6% during 2021-2025. The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment.

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Automotive Fasteners Market: Segmentation by Application

Based on the segmentation by application, the market generated maximum revenue in the passenger vehicles segment in 2020. Due to factors such as the increasing consumer expectation, higher competition prompting OEMs to add features to maintain market share, there will be an increase in the lightweight fasteners for the passenger cars. The growth of the segment will be significant over the forecast period.

Automotive Fasteners Market: Segmentation by Geography

59% of the market’s growth will originate from APAC and held the largest market share in 2020 and the market growth in the region is expected to be faster compared to the growth of the market in other regions. The growth of the market in APAC can be attributed to the growing popularity of lightweight fasteners solutions which will significantly influence automotive fasteners market growth in APAC over the forecast period. China, Japan, and South Korea (Republic of Korea) are the key markets for the automotive fasteners market in the region.

Automotive Fasteners Market: Opportunities

Factors such as improving economic conditions and political stability, rapid urbanization, and infrastructure and industrial growth are enhancing the growth of the market. Over the years, countries across the world have been making significant investments in the automotive sector. This will create considerable demand for the automotive fasteners market thereby opening several growth opportunities for market vendors.

Know more about Techanavio’s analysis on the impact of Disruption Threats comparing Disruptive sources and Factors driving disruption:

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Key Market Dynamics:

Market Drivers

  • Cost advantages of using plastic automotive fasteners
  • The growing popularity of structural blind fasteners
  • Stringent regulations to control emissions

Market Challenges

  • Fasteners related recall due to improper manufacturing procedures
  • The increasing number of players in the automotive fastener supply chain
  • The sharp decline in automobile production and sales

Companies Mentioned

  • Bulten AB
  • EJOT Holding GmbH & Co. KG
  • Illinois Tool Works Inc.
  • KAMAX Holding GmbH & Co. KG
  • Koninklijke Nedschroef Holding BV
  • Norm Fasteners
  • Penn Engineering
  • Rocknel Fastener Inc.
  • SBE-VARVIT Spa
  • Sundaram Fasteners Ltd.

Get more insights about the global trends impacting the future of the automotive fasteners market,

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Available Customization

Along with the market data, Technavio offers customizations as per the specific needs of the companies. The following customization options are available for the automotive fasteners market report.

  • Further breakdown of the market segmentation in requested regions.
  • Detailed analysis and profiling of additional market players, vendor segmentation, and vendor offerings.

Key Topics Covered

  • Executive Summary
  • Market Landscape
  • Market Sizing
  • Five Forces Analysis
  • Market Segmentation by Application
  • Market Segmentation by Geography
  • Customer landscape
  • Geographic Landscape
  • Vendor Landscape
  • Vendor Analysis
  • Appendix

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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