Automotive Fastener Market Covid-19 Impact Analysis and Growth Prospects Survey till 2026

The automotive fastener market is anticipated to gain momentum on account of increasing number of expansion activities commenced in the automobile sector. Over the years, the automotive industry has seen exponential growth given to rampant technological advancement. Carmakers are placing passenger safety at the top most priority as more customers now focus on safety features while buying a vehicle.

Growing inclination towards lightweight fasteners due to rising demand for fuel-efficient vehicles could enhance business outlook. Increasing demand for lightweight fasteners over welding could massively aid in expanding automotive fastener market size.

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These fasteners are easy to replace, making it ideal for the end-user. Factors like improvement in toughness and quality and mechanical enhancements could play a crucial role in fueling the adoption of automotive fasteners. Estimates suggests that the automotive fastener market might reach USD 20 billion by the year 2026.

However, diminishing growth of the global automotive sector since 2018 could hinder the growth of this industry. Rapid spread of coronavirus has compelled various automakers to enforce federal lockdown protocols to protect the health of their employees. This halt in the global automotive economy could negatively impact the product demand. 

OEMs have been a prominent part of the automotive industry. Earlier in 2019, automotive OEMs were considered to amass a volume share of more than 45%. and are expected to drive healthy growth over the forecasted period.

In terms of materials, the industry is bifurcated into steel, plastic, and other metallic fasteners such as aluminum, brass, copper etc. Other metallic fastener materials like brass are popular in the market owing to its extensive use in adjoining engine components and door clamps.

In order to gain a dominant position, several industry players like Agrati Group, Fontana, KOVA Fasteners, KAMAX, Sundram Fasteners Limited, Bulten AB, Westfield Fasteners, Shanghai Prime Machinery Company, SFS Group, and IWT Inc. are undertaking diverse organic growth strategies like inking merger or partnership deals, launching new products, and acquiring new assets.

North America is considered to be a lucrative market for automotive fastener. Estimates claim that the region might register over 15% of the global market share. This growth can be attributed to numerous ongoing and future automotive developmental activities within the region. This would ensure healthy growth prospects of automotive fastener manufacturers in North America over the next few years.

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Partial Chapter of the Table of Content

Chapter 6. Automotive fastener Market, By Characteristic

6.1. Automotive fastener industry, by characteristic insights

6.2. Permanent

6.2.1.   Market estimates and forecasts, 2016 – 2026

6.2.2.   Market estimates and forecasts by region, 2016 – 2026

6.3. Non-permanent

6.3.1.   Market estimates and forecasts, 2016 – 2026

6.3.2.   Market estimates and forecasts by region, 2016 – 2026

Chapter 7. Automotive fastener Market, By Distribution

7.1. Automotive fastener industry, by distribution insights

7.2. Automotive OEM

7.2.1.   Market estimates and forecasts, 2016 – 2026

7.2.2.   Market estimates and forecasts by region, 2016 – 2026

7.3. Aftermarket

7.3.1.   Market estimates and forecasts, 2016 – 2026

7.3.2.   Market estimates and forecasts by region, 2016 – 2026

Chapter 8. Automotive fastener Market, By Application

8.1. Automotive fastener industry, by application insights

8.2. Passenger cars

8.2.1.   Market estimates and forecasts, 2016 – 2026

8.2.2.   Market estimates and forecasts by region, 2016 – 2026

8.3. Light commercial vehicles

8.3.1.   Market estimates and forecasts, 2016 – 2026

8.3.2.   Automotive fastener market estimates and forecasts by region, 2016 – 2026

8.4. Heavy commercial vehicles

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