Industrial Fasteners Market - Forecast(2024 - 2030)

Report Code: AIR 0394 Report Format: PDF + Excel

Industrial Fasteners Market Overview

Industrial Fasteners Market Size is forecast to reach $95.2 billion by 2026, at a CAGR of 3.9% during 2021-2026. Industrial Fasteners include exhaust bolts, balance wheel bolts, standard hexagon screws/bolts, socket head cap screws, socket shoulder screws, weld nuts, square nuts, hexagon nuts, self-tapping screws and others that are generally used to join the different parts of items. Growth in the automobile industries in developing countries for instance India, China and others along with rising construction activities have boosted the market growth. Growing usage of fasteners such as Thread lockers, Cable ties, Socket screws and others for manufacturing automotive parts such as engines, chassis, moulding, suspension system and wheels among others with the rising use of mild fasteners in manufacturing of automobiles have driven the growth of the market. Surge in economic expansion coupled with the growing machinery, motor vehicles and other durable goods production have boosted the growth of the market.

Report Coverage

The report: “Industrial Fasteners Market Industry Outlook– Forecast (2021-2026)”, by IndustryARC covers an in-depth analysis of the following segments of the Industrial Fasteners Market

By Material: Metal, Plastic

By Product: Externally Threaded, Internally Threaded, Non-Threaded, Aerospace Grade

By Application: Building & Construction, Automotive, Aerospace, Industrial Machinery, Manufacturing, Home Appliances, Lawns & Gardens, Motors & Pumps, Furniture, Marine and others

By Geography: North America (U.S, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Russia and Others), APAC (China, Japan India, Australia and Others), and RoW (Middle East and Africa, South America)

Key Takeaways

  • Surge in the Industrialization along with the growth of Automotive owing to the rising global car demands along with increasing construction activities to modernize the infrastructure have driven the growth of the market.
  • Building & Construction segment is witnessing a significant growth in the market owing to maintenance and repairs, construction of temporary buildings, on-site assembly of pre-cut, panelized, and prefabricated buildings, construction of distribution lines and related buildings and structures for utilities and others.
  • APAC is witnessing a major growth in the market owing to the surge in expenditure for construction and aerospace sector due to advancement in technology and growth of IIoT in manufacturing sector and others.

Global Industrial Fasteners Market, By Region, 2020

Industrial Fasteners Market

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Industrial Fasteners Market Segment Analysis - By Material Type

The Metal segment is growing at a significant market CAGR of 4.4% in the forecast period due to the growth in global automation along with the rise of industry 4.0 and IoT in the manufacturing sector which has led to the adoption of metal fasteners for bolts, nuts, screws and others. IIoT provides the potential to control more devices more effectively and more affordably that makes it much easier to gather and manage large volumes of plant floor data not only in an individual plant, but throughout multiple facilities. When combined with analytics, organizations can obtain greater insights, enabling them to boost manufacturing performance, improve product quality and carry out preventative maintenance. Growing supply chain complexity has increased the demand for industrial fasteners. All these factors are analyzed to boost the growth of the market in the forecast period 2021-2026.

Industrial Fasteners Market Segment Analysis - By Application

Building and Construction sector is expected to witness a highest CAGR of 4.5% in the forecast period as there is a requirement of strength and precision owing to the heavy-duty applications to join materials together. In recent years, there is tremendous growth in construction activities predominantly in the APAC region countries such as India, China, Australia and others. The Victorian Government has approved four new multi-billion dollar building projects in 2020. The South Australian state government has announced that it will fast track new major infrastructure projects. In January 2020, Italy's building production soared 8.4 percent from a year earlier, up from a 1.3 percent decline in the preceding month. It was the largest gain since March 2019 in construction production. Building production rose 7.9 percent on a seasonally adjusted monthly basis, after rising 1.4 percent in December. Investment in the construction sector continues to rise, led by the resumption of public works which are analyzed to boost the market growth in the forecast period in 2021-2026.

Industrial Fasteners Market Segment Analysis - By Geography

Industrial Fasteners Market in APAC region held significant market share of 39.5% in 2020. Growth in the construction activities coupled with the aerospace sector and automobile sector are analyzed to fuel the market in this region. According to the Boeing Services Market Outlook report, in 2019 the commercial aviation industry is expected to have a remarkable growth in APAC. This leads to the rise in commercial airplane deliveries which will, in turn, drive the need for aviation manufacturing. Over the next 20 years, Boeing projects the demand for aviation manufacturing in Asia-Pacific will expand by 5.1%, or $3,480 billion. In 2020, the government of India has committed to spend $45.8 billion for aerospace and defense sector with modernization of equipment a top priority. The residential construction market is to remain the largest market over the forecast period and account for 67% of the total value in 2023, supported by the government’s plan to stabilize the housing market by building affordable public housing and increase the supply of rental public housing in the Australia. These factors have boosted the growth of the market.

Industrial Fasteners Market Drivers

Growth of Aerospace Sector:

Remarkable growth in the aerospace manufacturing is witnessing a significant growth in the fasteners as they are used to transfer loads from one part to another in both production and repair applications and to connect the different parts together in primary structural areas. According to European Union, the total turnover of EU aerospace sector was €128 billion ($151 billion) with maximum spending in R&D. Around 12% of turnover is directed towards R&D in aerospace industry. This has driven the research into innovations in aerospace safety leading to the deployment of the industrial fasteners. In 2019, the government has announced to spend $2.85 billion for the development of aerospace sector. In 2019, France has announced to spend more than $221 billion over the period 2019-2023 and $395billion over the period 2019-2025 for the development of aerospace sector including modernization and replacement of equipment. These modernization and replacement activities are analyzed to propel the demand for the industrial fasteners in the forecast period.

Growth of Construction activities:

Surge in construction activities owing to the increasing government expenditure for modernization has increasing the demand for the industrial fasteners as the construction industry is  the center is more on the huge machines, like huge pieces of steel and thick pieces for wood. . In Singapore, total construction demand is set to boost in the forecast period led by public sector building projects including public housing, as well as private sector projects such as the continued redevelopment of en bloc residential sites and berth facilities at Jurong Port and Tanjong Pagar Terminal. The construction sector accounts for about 4 per cent of Singapore's total gross domestic product. The government of New South Wales (NSW) has eased restrictions on construction sites, allowing work on weekends as well as on public holidays, and announced a first tranche of US$5.1 billion of shovel-ready construction projects, including the Snowy Hydro 2.0 project and construction of 4,441 new houses in the year 2019-2020, giving the boost to the Industrial fasteners Market.

Industrial Fasteners Market Challenges:

High maintenance is required and other corrosion related challenges:

Although there is highly a requirement of industrial fasteners in the various industrial sectors such as aerospace, automotive, manufacturing and others but the metal fasteners are highly corrosive and stainless steel fasteners are expensive. This metal corrosion and high cost of stainless steel fasteners are analyzed to restrain the growth of the market in the forecast period 2021-2026.

Industrial Fasteners Market Landscape

Product launches, acquisitions, Partnerships and R&D activities are key strategies adopted by players in the Industrial Fasteners Market. Industrial Fasteners Market top 10 companies include Sterling Tools Limited, ACME Fasteners Pvt. Ltd., and A Raymond Fasteneres India Pvt., Ltd, KOVA Fasteners Pvt Ltd, RMB Industries, Precision Castparts Corporation Fasteners, Nifc- India Private Limited, Sundram Fasteners Limited, Lakshmi Precision Screws Limited among others.

Acquisitions/Product Launches

  • In 2020, TR Fastening new range of K-Series-Thin Nuts for manufacturing or assembly process along with a wide range of applications in the industrial sector.
  • In 2019, TriMas Aerospace partnered with Sonaca and Safran to increase its production capacity of fasteners and expand its global customer base.

Relevant Report Titles:

Report Code; EPR 0016
Report Code: EPR 0062

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1. Industrial Fasteners Market - Market Overview
    1.1 Definitions and Scope
2. Industrial Fasteners Market- Executive Summary
    2.1 Market Revenue, Market Size and Key Trends by Company
    2.2 Key trends by end user
    2.3 Key trends segmented by geography
3. Industrial Fasteners Market –Market Landscape
    3.1 Comparative Analysis
        3.1.1 Product Benchmarking
        3.1.2 Top 5 Financial Analysis
        3.1.3 Market Value Split by Top 10 companies
        3.1.4 Patent Analysis
        3.1.5 Pricing Analysis
4. Industrial Fasteners Market– Industry Market Entry Scenario Premium
    4.1 Regulatory Framework Overview
    4.2 New Business and Ease of Doing business index
    4.3 Case studies of successful ventures
    4.4 Customer Analysis – Top 10 companies
5. Industrial Fasteners Market – Startup Company Scenario
    5.1 Investment Analysis
    5.2 Venture Capital Funding Scenario
6. Industrial Fasteners Market- Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    6.3 Porters five force model
        6.3.1 Bargaining power of suppliers
        6.3.2 Bargaining powers of customers
        6.3.3 Threat of new entrants
        6.3.4 Rivalry among existing players
        6.3.5 Threat of substitutes
7. Industrial Fasteners Market– By Strategic Analysis (Market Size -$Million/Billion)
    7.1 Value Chain Analysis
    7.2 Opportunities Analysis
    7.3 Product Life Cycle
    7.4 Suppliers and Distributors
8. Industrial Fasteners Market- By Material
    8.1 Metal
    8.2 Plastic
9. Industrial Fasteners Market- By Product
    9.1 Externally Threaded
    9.2 Internally Threaded
    9.3 Non-Threaded
    9.4 Aerospace Grade
10. Industrial Fasteners Market- By Application
    10.1 Building & Construction
    10.2 Automotive
    10.3 Aerospace
    10.4 Industrial Machinery
    10.5 Manufacturing
    10.6 Home Appliances
    10.7 Lawns & Gardens
    10.8 Motors & Pumps
    10.9 Furniture
    10.10 Marine
    10.11 Others
11. Industrial Fasteners Market - By Geography (Market Size -$Million/Billion)
    11.1 North America
        11.1.1 U.S
        11.1.2 Canada
        11.1.3 Mexico
    11.2 South America
        11.2.1 Brazil
        11.2.2 Argentina
        11.2.3 Others
    11.3 Europe
        11.3.1 U.K
        11.3.2 Germany
        11.3.3 Italy
        11.3.4 France
        11.3.5 Spain
        11.3.6 Netherlands
        11.3.7 Others
    11.4 APAC
        11.4.1 China
        11.4.2 Japan
        11.4.3 South Korea
        11.4.4 India
        11.4.5 Australia & New Zealand
        11.4.6 Others
    11.5 RoW
        11.5.1 Middle East
        11.5.2 Africa
12. Industrial Fasteners Market- Entropy
13. Industrial Fasteners Market- Industry Competition Landscape
    13.1 Global Market Share
    13.2 Market Share by Region
    13.3 Market Share by Application
    13.4 Market Share by Product
14. Industrial Fasteners Market- Key Company List by Country Premium
15. Industrial Fasteners Market Company Analysis
    15.1 Lakshmi Precision Screws Ltd
    15.2 Signal Sciences Corporations
    15.3 Sterling Tools Limited
    15.4 ACME Fasteners Pvt. Ltd.
    15.5 A Raymond Fateners Pvt. Ltd.
    15.6 KOVA Fasteners Pvt. Ltd.
    15.7 RMB Industries
    15.8 Precision Castparts Corporation Fasteners.
    15.9 Nifc-India Pvt. Ltd.
    15.10 Sundaram fasteners Ltd.