According to the latest market research study released by Technavio, the global industrial fasteners market is expected to grow at a CAGR of more than 4% during the forecast period 2016-2020.
This market research report by Technavio provides an in-depth analysis of the market in terms of revenue and emerging market trends. The report also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
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Technavio research analysts categorize the global industrial fasteners market based on end-users:
Global industrial fasteners market share by end-user 2015
|
Automotive |
27.0% |
|
Construction |
24.0% |
|
Mining |
21.0% |
|
Marine |
17.0% |
|
Others |
11.0% |
Source: Technavio
The top three revenue contributing product segments are discussed below:
Global industrial fasteners market by automotive industry
The global industrial fasteners market by automotive industry was valued at around $20 billion in 2015 and is expected to grow at a CAGR of almost 5% by 2020. The automotive industry uses various types of fasteners such as steel, stainless steel that includes duplex and austenitic grades, and plastic fasteners. These products are coated with an anti-corrosive material for enhanced protection, and this drive the growth of this market segment. China, Japan, the US, South Korea, and Thailand are the largest revenue contributors of the automotive industry.
“The increased production of light commercial vehicles, heavy trucks, and passenger cars will lead to the growth of industrial fasteners in the automotive industry. The increasing production of light vehicles in Japan and South Asia will have a positive impact on the market. Manufacturers will concentrate on increasing production capabilities to meet the rising demand during the forecast period,” says Gaurav Mohindru, a lead analyst at Technavio for research on tools and components.
Global industrial fasteners market by construction industry
The global industrial fasteners market by construction industry was valued at almost $18 billion in 2015 and is expected to grow at a CAGR of more than 4% by 2020. Fasteners are the link in the load path of the entire building structure, and it act as significant energy dissipation points and helps in providing structural integrity. The different categories of fasteners in the construction industry includes commodity fasteners and task-specific fasteners. Drywall screws, needlepoint screws, cement-board screws, pole-gripper screws, outdoor screws, woodworking screws, and self-drilling screws are some of construction fasteners, and these are made of steel or stainless steel. Developing countries like Vietnam, the Philippines, and Indonesia provide huge opportunities for construction activities and boost the growth of this market. The increasing number of construction projects in European Union will help in the growth of this market segment in the coming years.
Global industrial fasteners market by mining industry
The global industrial fasteners market by mining industry was valued at almost $16 billion in 2015 and is expected to grow at a CAGR of more than 3% by 2020. The mining industry uses industrial fasteners that are capable of withstanding vibration and corrosion. Anchor bolts, eye bolts, structural bolts, swing bolts, elevator rods, rock rods, tie rods, sag rods, washers, nuts, and plates are various types of fasteners used within the industry, and these fasteners are made of carbon and alloy steels, stainless steels, and construction steels. The investment in the industry depend on innovations in mining technology and adapting to the constant changes in regulatory policies. New projects in countries developing countries will lead to the growth of this market during the forecast period.
The top leading vendors operating in the global industrial fasteners market are:
- Acument Global Technologies
- Alcoa
- Bulten
- ITW
Other prominent vendors in the market include American Industrial Partners, Atlas Bolt and Screw, Air Industries, Ajax Metal Processing, Allfast Fastening Systems, Aoyama Seisakusho, ARaymond, ARNOLD Umformtechnik, ASYST Technologies, Automatic Screw Machine Products, Avibank Manufacturing, AVK Industrial Products, AAA Aircraft Supply, baier & michels, Cardinal Fastener, Cherry Aerospace, Cold Heading Company, Delo Screw Products, Würth Des Moines Bolt, Dokka Fasteners, Doncasters, EBC Industries, EJOT Holding, Pentair Engineered Electrical & Fastening Solutions, Fabristeel, FACIL Flexible Fastening Solutions, Fastenal, Fatigue Technology, Federal Screw Works, Ferry Cap & Set Screw, Fontana Luigi SpA, General Fasteners, GESIPA Fasteners USA, Global Fastener Alliance, SPS Greer Stop Nut, Hilti, Infasco, Indiana Automotive Fasteners, KAMAX Holding, Nedschroef Ultra Fasteners, Lamons, LISI, MacLean-Fogg, Marmon, MNP, Monogram Aerospace Fasteners, Nitto Seiko, Nucor, Nelson Stud Welding, Net Shaped Solutions, Nifco, Nylok, Pan American Screw, Park-Ohio Holdings, PB Fasteners, PennEngineering, PIOLAX, Powers Fasteners, RB&W Manufacturing, Robertson, Sundram Fasteners, Saturn Fasteners, SFS, Shanghai Prime Machinery, Shur-Lok, Southco, Specialty Bar Products Company, Stanley Black & Decker, Supply Technologies, TriMas Corporation, and Western Builders Supply.
A more detailed analysis is available in the Technavio report titled, ‘Global Industrial Fasteners Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Aerospace Fasteners Market 2016-2020
- Global High-performance Alloys Market 2016-2020
- Global Machine Tools Market 2016-2020
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