PUNE, India, June 13, 2018 /PRNewswire/ --
According to a new market research report "Automotive
Fastener Market by Characteristics (Removable,
Permanent, Semi-Permanent), Products (Threaded, Non-Threaded),
Material Type (Stainless Steel, Plastic, Aluminum), Application,
Electric Vehicle Type, and Region - Global Forecast to 2025",
published MarketsandMarkets™, the global market is projected to
grow from an estimated USD 21.45
Billion in 2018 to USD 25.30
Billion by 2025, at a CAGR of 2.39% from 2018 to 2025. The
market is anticipated to grow owing to various reasons such as the
growing vehicle production, shifting focus toward lightweight
vehicles, and the increasing use of electronics such as ignition,
carputers, telematics, and in-car entertainment systems in
vehicles.
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Browse 106 market data Tables and 45 Figures
spread through 152 Pages and in-depth TOC
on "Automotive Fastener
Market"
https://www.marketsandmarkets.com/Market-Reports/automotive-fastener-market-10053940.html
Early buyers will receive 10% customization
on this report
The removable fastener segment, by characteristics, is
estimated to be the largest segment in the Automotive Fastener
Market
Removable automotive fasteners enable the parts to be
disconnected readily without any damage. These fasteners contribute
the maximum share in the total number of fasteners used in an
automobile. Removable automotive fasteners such as nuts, bolts, and
studs can be installed and removed easily with the help of hand
tools or power tools. These types of fasteners have a long life and
can be used multiple times. The penetration of removable fastener
in automobiles is high due to its properties.
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The plastic fastener segment, by material type, is estimated
to be the fastest growing segment of the Automotive Fastener
Market
The market for plastic fastener is estimated to have the highest
growth due to the increasing need to reduce vehicle weight. The
increasing demand for automobile weight reduction and fuel
efficiency will reduce the use of metals such as stainless steel
and iron and will increase the use of lightweight materials like
plastic, which are the growth drivers for the plastic fastener
segment in future.
Asia Pacific is estimated to
be the largest market for the automotive fasteners
The study considers countries such as China, Japan,
India, and South Korea in the Asia Pacific region. The increasing production
of vehicles in China, Japan, and India and the growing demand for electric
vehicles, especially in China and
Japan, are expected to drive the
Automotive Fastener Market in the region. The government
regulations for lightweight vehicles have led to advancements in
technology for manufacturing lightweight and durable products in
the region. Also, manufacturers are shifting from standard parts to
customized parts, which will drive the demand for customized
fasteners in the Asia Pacific
region.
The study covers all the major players in the Automotive
Fastener Market, including established players such as Bulten
AB (Sweden), KAMAX (Germany), Sundram Fasteners (India), Stanley
Black & Decker (US), Shanghai Prime Machinery Company
(China), SFS Group (Switzerland), and Lisi Group (France). These companies collectively account
for a major share of the Automotive Fastener Market. The report
also comprises a few other players such as Meidoh Co. (Japan), Nipman Fasteners (India), Piolax (US), Westfield Fasteners (UK),
Fontana Gruppo (Italy), Bollhoff (Germany), Nedshroef (Netherlands), Nifco Group (Japan), Boltun Corporation (Taiwan), Chanshu City Standard Parts
(China), Wurth Group (Germany), and Simmonds
Marshall (India)
Know more about the Automotive Fastener
Market:
https://www.marketsandmarkets.com/Market-Reports/automotive-fastener-market-10053940.html
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