What is the global market size of Industrial Fasteners Market?

Global Industrial Fasteners Market size was valued at USD 88.43 billion in 2021 and is poised to grow from USD 92.41 billion in 2022 to USD 131.42 billion by 2030, growing at a CAGR of 4.5% in the forecast period (2023-2030).

Industrial Fasteners Market Size, Share, Growth Analysis, By Material (Metal, Plastic), By Product (Externally Threaded, Internally Threaded), By Application (Automotive, Aerospace), By Region - Industry Forecast 2025-2032

Report ID: SQMIG15B2042 | Region: Global | Published Date: November, 2024
Pages: 211 | Tables: 92 | Figures: 76

Industrial Fasteners Market Dynamics

Industrial Fasteners Market Drivers

Its Demand in Defence Sector to Bolster Market Growth

The increasing demand from the aerospace industry will foster the industrial fasteners market growth during 2022–2028. Because the usage of hardware items such as nuts, bolts, cables, washers, and others to help in structuring aircrafts. The market is growing due to the increasing research & development and expenditure in the defense sector along with the increasing commercial aircraft production capacity.

Industrial Fasteners Market Restraints

Alternatives available in the Global Market will Obstruct Market Development

The replacement of metal fasteners for tapes, adhesives, and others are anticipated to inhibit the market growth during the forecasting period. The automotive sector is mainly affected due to the presence of alternatives including welding and auto parts clinching.

Industrial Fasteners Market Report Snapshots

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Industrial Fasteners Market size was valued at USD 92.4 Billion in 2023 and is poised to grow from USD 96.56 Billion in 2024 to USD 137.52 Billion by 2032, growing at a CAGR of 4.5% during the forecast period (2025-2032).

Global industrial fasteners market is highly competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D. 'Stanley Black & Decker (U.S.) ', 'Illinois Tool Works (ITW) (U.S.) ', 'Hilti (Liechtenstein) ', 'Berkshire Hathaway (U.S.) ', 'Howmet Aerospace (U.S.) ', 'LISI Group (France) ', 'NIFCO (Japan) ', 'Fontana Gruppo (Italy) ', '3M (U.S.) ', 'Böllhoff Group (Germany) ', 'PennEngineering (U.S.) ', 'KAMAX (Germany) ', 'MacLean-Fogg Company (U.S.) ', 'Bulten AB (Sweden) ', 'Deepak Fasteners (India) ', 'ARaymond (France) ', 'Elgin Fastener Group (U.S.) ', 'MW Industries (U.S.) ', 'Sesco Industries (U.S.) ', 'Würth Group (Germany)'

The increasing demand from the aerospace industry will foster the industrial fasteners market growth during 2022–2028. Because the usage of hardware items such as nuts, bolts, cables, washers, and others to help in structuring aircrafts. The market is growing due to the increasing research & development and expenditure in the defense sector along with the increasing commercial aircraft production capacity.

Rising demand in other application industries such as construction and machine manufacturing, as well as urbanisation and industrialization, all positively impact the industrial fasteners market. Manufacturers are well aware of this, which is why they are constantly innovating to introduce industrial fasteners that improve on existing structural features and address issues with previous products.

Asia Pacific is expected to dominate the global market during the anticipated period owing to the contributions of multinational and domestic players engaged in automotive, machinery, and component manufacturing operations coupled with the major manufacturing enterprises in India and China are expected to further drive the market.

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Industrial Fasteners Market Size, Share, Growth Analysis, By Material (Metal, Plastic), By Product (Externally Threaded, Internally Threaded), By Application (Automotive, Aerospace), By Region - Industry Forecast 2025-2032

Industrial Fasteners Market Dynamics

Industrial Fasteners Market Report Snapshots

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