Overview:

The global industrial fasteners market is valued for more than US$ XXX.X Mn in 2019 and expected to reach a value of US$ XXX.X Mn by 2029 with a significant CAGR of around XX.X% over the forecast period of 2019-2029. Fastener is a mechanical device that holds two or more than two parts together. It has key application in automotive and aerospace sector. Majorly the fasteners are manufactured to permanently hold the different parts together and in case of need that can be removed to separate those parts.

Market Dynamics:

Fasteners have wide applications in various end use industries such as aerospace, automotive, and many more. Rising manufacturers focus on development of innovative products such as specialty, miniature, and hybrid fasteners are major factors expected to drive the growth of global market. In addition, rising demand for customized fasteners from end users and inclination of players towards adoption of plastic fasteners are other factors expected to support growth of the global market. However, availability of substitute products is a major factor expected to hamper growth of the target market.

Key Trends:

Strategic business partnerships and agreements in order to enhance the market presence is key trend expected to support growth of the global market. In addition, players approach towards development of new brand structure in order to achieve strong growth and track the untapped market is another trend witnessed in the target market. For example, in 2019, Stanley Black & Decker a leader in precision fastening and assembly solutions launched new corporate brand structure, including a go-to-market portfolio of seven global strategic brands under its STANLEY engineered fastening banner. The focus of the new structure is to provide consumers a harmonized portfolio of fastening and assembly solutions.

Regional Analysis:

For detailed understanding of market dynamics, the global industrial fasteners market is analyzed across key regions viz. North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America industrial fasteners market is expected to account for significant revenue share in the market owing to high demand for advanced fasteners from various end use industries such as automotive, aerospace, building & construction, industrial machinery, and others. In addition, presence of major players in the countries and innovative product offerings in order to attract new customer is another factor expected to further support growth of the target market in this region. The Europe holds second largest market share followed by the market in the Asia Pacific region.

Scope of the Report:

Detailed Segmentation:

Global Industrial Fasteners Market, By Product Type:

• Externally Threaded
• Internally Threaded
• Non Threaded
• Aerospace Grade

Global Industrial Fasteners Market, By Material Type:

• Plastic
• Metal

Global Industrial Fasteners Market, By Application:

• Automotive
• Aerospace
• Building & Construction
• Industrial Machinery
• Home Appliances
• Motors and Pumps
• Furniture
• Plumbing Products
• Others

Key Players Covered:

Key players operating in the industrial fasteners market includes, Stanley Black & Decker, Inc. Penn Engineering & Manufacturing Corporation, Standard Fasteners Ltd., MW Industries Inc. Penn Engineering & Manufacturing Corporation, KOVA Fasteners Pvt. Ltd., Arconic, Nippon Industrial Fasteners Company, Precision Castparts Corp., and Illinois Tool Works, Inc.

Key features of the study:

Foresight Market Research provides detailed analysis on global market in our report- Global Industrial Fasteners Market by product type, material type, application, and region. The report provides market size (US$ Mn) and compounded annual growth rate (%) for the forecast period: 2019 – 2029, considering 2018 as the actual year. The report also contains in-depth analysis about market drivers, restraints, opportunities, new product launches, product approval, ongoing trends, and regional outlook. The report delivers competitive analysis about leading players in the global industrial fasteners market based on various parameters such as company overview, product portfolio, regional presence, financial performance, distribution strategies, key developments, marketing strategies, and future plans. The analysis from the report would acquaint the marketers and management authorities of companies to make the appropriate decision with respect to their future product launch, ongoing trends, market expansion, and marketing tactics used overall the globe.