Global Automotive Fasteners Market to Reach $24.4 Billion by 2030
The global market for Automotive Fasteners estimated at US$17.6 Billion in the year 2022, is projected to reach a revised size of US$24.4 Billion by 2030, growing at a CAGR of 4.1% over the analysis period 2022-2030.
Automotive Fasteners - Global Strategic Business Report sheds light on how automotive fastener manufacturers grappled with the challenges posed by the pandemic. It provides an overview of the Global Key Competitors' Percentage Market Share in 2022, categorizing their Competitive Market Presence as strong, active, niche, or trivial.
The first section of the report provides an overview of automotive fasteners and highlights their crucial function in the automotive sector, particularly in maintaining the structural integrity of cars. It also explores the significance of fastener finishing as well as the many kinds of mechanical automobile fasteners. A segmental overview illustrates the value sales breakdown by highlighting the many industrial categories, such as bolts, nuts, dowel pins, and others. It is made clear how common fasteners are in automotive design and how important a function they play in car assembly.
The possibilities and outlook for the global market are examined, along with dynamic variables that could spur the market for automotive fasteners to grow even more. With a roughly 55% share of the global car production industry, the Asia-Pacific region is the largest auto production hub and commands a dominant market share worldwide. The industry's competitive landscape is described in detail, emphasizing the variety of tactics used by participants to stay ahead of the competition.
The U.S. Market is Estimated at $3.1 Billion, While China is Forecast to Grow at 8.2% CAGR
In 2022, the automotive fasteners market in the United States is projected to be worth US$3.1 billion. The second-largest economy in the world, China, is expected to reach a projected market size of US$6.3 billion by 2030, growing at a compound annual growth rate of 8.2% between 2022 and 2030. Japan and Canada are two more significant geographic markets, with growth rates of 1.7% and 2.8%, respectively, predicted for 2022–2030. Germany is expected to expand at a CAGR of about 2.4% within Europe.
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