Automotive Fasteners Market Size, Share, Growth Analysis, By Product, By Material, By Characteristics, By Electric Vehicle Type, By Vehicle Type, By Distribution Channel, By Region - Industry Forecast 2025-2032

Global Automotive Fasteners Market size was valued at USD 21 billion in 2022 and is poised to grow from USD 21.4 billion in 2023 to USD 24.88 billion by 2031, growing at a CAGR of 1.9% in the forecast period (2024-2031).

The global automotive fasteners market is made up of a variety of international and local service providers who are constantly developing to strengthen their market position. The growing demand for stainless steel for the manufacture of automobiles and the rising sales of electric cars are the main drivers of market expansion. However, it is anticipated that during the projection period, high capital needs may restrain market expansion. To maintain their market position on a global scale, automobile fastener manufacturers compete on the basis of product technology, efficacy, and reliability. In order to hold their market share and acquire a competitive edge, automotive fastener producers must offer goods or services that meet the demands of the sector, those of their clients, and cutting-edge technology. Vendors are concentrating on advancing their technologies, their products, and their expansion into developing nations. 'Bulten AB ', 'KAMAX Holding GmbH & Co. KG ', 'Nifco Inc. ', 'Stanley Black & Decker Inc. ', 'Illinois Tool Works Inc. ', 'LISI Group ', 'SFS Group AG ', 'Bossard Group ', 'Westfield Fasteners Limited ', 'Shanghai Tianbao Fastener Manufacturing Co. Ltd. ', 'KOVA Fasteners Private Limited ', 'The Phillips Screw Company ', 'Jiangsu Xing Chang Jiang International Co. Ltd. ', 'Indfast Automotive (Indiana Automotive Fasteners) ', 'TR Fastenings ', 'Böllhoff Group ', 'Norma Group SE ', 'Ejot Holding GmbH & Co. KG ', 'PennEngineering ', 'Sundram Fasteners Limited'

The benefits of automobiles and public transportation as answers to our increasing mobility needs have come under more attention as a result of changing lifestyles and the expansion of the service sector. When choosing a material for a technical solution, social, economic, and environmental factors are taken into account. The development of electric vehicles has seen significant investment from the automobile industry. The usage of electric vehicles to minimise fuel consumption and conserve foreign exchange reserves is being promoted by numerous governments from various nations and regulatory organisations globally. Electric mobility is the best option for short- and medium-distance individual transportation because it provides high levels of comfort, is simple to operate, and does away with the need for a conventional vehicle.

The market's dominant segment in the threaded fastener category, and this trend is expected to continue during the forecast period. Threaded fasteners are unique items of hardware that have either internal or external linings that are commonly referred to as threads. These have numerous uses in the assembling and disassembling of various sections and elements of any vehicle. Bolts, nuts, and washers are the most prevalent types of these fasteners. Nuts will experience the fastest growth among these threaded fasteners, with significant growth projected through 2026. In order to hold many pieces together, nuts are often used in conjunction with bolts and washers on vehicles. By grouping their inner linings, these fasteners stay and connect together. Moreover, during the forecasted period, the increased demand for light-weight automobiles would present profitable prospects for market participants. Additionally, as manufacturers switch from using standard fasteners to using customised fasteners, this new development will increase market demand.

The fastest rate of growth is anticipated in North America during the forecast period. The requirement for replacement parts increases as more automobiles are put on the road. Additionally, this region is able to support the growth of automotive fasteners due to the existence of significant automotive and car manufacturers as well as the accessibility of cutting-edge technologies.