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The automotive fasteners market size has grown steadily in recent years. It will grow from  $27.74 billion in 2023 to $28.65 billion in 2024 at a compound annual growth rate (CAGR) of 3.3%.  The growth in the historic period can be attributed to increased automobiles production, increased demand for commercial vehicles, and strong economic growth in emerging markets. The automotive fasteners market size is expected to see steady growth in the next few years. It will grow to  $31.81 billion in 2028 at a compound annual growth rate (CAGR) of 2.7%.  The growth in the forecast period can be attributed to increasing demand for electric vehicles and supportive government regulations. Major trends in the forecast period include launching self-clinching fasteners, developing new technological solutions, launching lightweight carbon fiber fasteners, launching new, innovative products, undergoing partnerships and collaborations.

The growing demand for electric vehicles is poised to drive the growth of the automotive fasteners market. Electric vehicles, either partially or fully powered by electricity, necessitate high-quality fastenings for essential components like EV infrastructure equipment and battery casings to ensure secure settings. A study by Bloomberg New Energy Finance (BNEF) predicts that electric vehicles will constitute 10% of global passenger vehicle sales by 2025, escalating to 28% in 2030 and reaching 56% by 2040. Therefore, the increasing prevalence of electric vehicles is anticipated to fuel the growth of the automotive fasteners market. As of 2028, this market is aligned with the projected surge in electric vehicle sales, as outlined in the BNEF report.

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What Are The Key Trends That Influence Automotive Fasteners Market Share Analysis?

Companies are launching innovative products to improve their offerings and remain competitive. For example, in July 2022, Henkel, a Germany-based chemical and consumer goods company, introduced Loctite DRI 2250-W, a medium to high-strength pre-applied thread locker designed for high-speed, sustainable automotive applications. This product features high-speed throughput, high-temperature resistance, and sustainability benefits due to its water-based formulation. Additionally, in February 2020, Bulten, a Swedish automotive stampings company, launched BUFOe, a new line of energy-efficient fasteners that reduce CO2 emissions by over 30% during manufacturing. The BUFOe fasteners use a process that eliminates the need for heat treatment, lowering environmental impact.

Which Market Players Are Driving Growth In The Automotive Fasteners Market?

Major companies operating in the market are Illinois Tool Works Inc, KAMAX Holding GmbH & Co. KG, Lisi S.A., Stanley Black & Decker, Bulten AB, Nifco Inc, PennEngineering, Sundram Fasteners Limited, The SFS Group AG, Agrati, KOVA Fasteners Pvt. Ltd., Deepak Fasteners Limited (DFL), TorqBolt Inc., Jyoti Engineering (Jyoti), Boltport Fasteners (BPF), Kaloti Group of Companies, Ananka Fasteners Manufacturers, Caliber Enterprises (India), Yijin Hardware Co., Ltd, Shanghai Jianxin Hardware Co., Ltd, Jiaxing Qimu Trading Co., Ltd., Handan Zhongpin Fasteners Manufacturing Co., Ltd, Tianjin Fine Fasteners Co., Ltd, Tucker GmbH, Keller & Kalmbach GmbH, GWR Fasteners Limited, Kebrell Nuts & Bolts Ltd, FASTENEX, S.L., Rivit s.r.l., Bontempi Vibo, TR VIC Italy, Fiera srl, Zavod Signal, Ideal-Plast LLC, LitPromGarant –NN LLC, Proftruba LLC, Coba Automotive Rus LLC, Spring Alians LLC, Ural Spring Plant, Nedschroef, Zwick Roell Group, Belenus of Brazil S / A, METALAC, Fastener SRL, BULONERA BAF SRL, AI-Rashed Fasteners, Prince Fasteners Manufacturing Co Ltd, Petrofast Middle East FZC, Asia Bolts Industries LLC, EJOT Middle East, TripleFast Middle East, Kuban Karare, Phillips screw company, Westfield Fasteners Limited

How Is The Global Automotive Fasteners Market Segmented?

The automotive fasteners market covered in this report is segmented –

1) By Product: Threaded, Non-Threaded
2) By Material Type: Iron, Steel, Aluminium, Brass, Plastic, Other Material Types
3) By Propulsion: IC (Internal Combustion) Engine Vehicles, Electric Vehicles, Hybrid And Alternative Fuel Vehicles
4) By Application: Engine, Chassis, Transmission, Steering, Front Or Rear Axle, Interior Trim, Other Applications

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The Automotive Fasteners Global Market Report 2024 provides an overview of the automotive fastenersmarket for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The automotive fasteners market forecast analyzes automotive fasteners market size, automotive fasteners market share, leading competitor and their market positions.

The Table Of Content For The Automotive Fasteners Market Include

1. Automotive Fasteners Market Executive Summary
2. Automotive Fasteners Market Segments
3. Automotive Fasteners Market Size And Template Market Growth Rate
4.  Key Automotive Fasteners Market Trends
5. Major Automotive Fasteners Market Drivers
……
25. Key Mergers And Acquisitions In The Automotive Fasteners Market
26. Top Automotive Fasteners Companies
27. Automotive Fasteners Market Opportunities And Strategies
28. Automotive Fasteners Market, Conclusions And Recommendations
29. Appendix

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