As per a revised report published by Fact.MR, the industrial fasteners market is anticipated to surpass US$ 98 Bn in 2021 and expand at a CAGR of around 5% over the next ten years.
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Fact.MR – a market research and competitive intelligence provider, analyses that industrial fastener demand is set to register strong growth owing to escalating demand from the transportation industry, especially automotive and railways. Automotive offers a wide application scenario, and every automobile consumes, on an average, nearly 50 kg to 90 kg of fasteners. A plethora of automobile manufacturers are partnering with coating & fastener manufacturers to develop custom-suited automotive fasteners.
Fastener surfaces can get damaged if they are subjected to too much moisture. Usage of optimum finish could control friction and prevent moisture build-up on a bolt or screw. Electrodeposited zinc, nickel, epoxy electro coatings, and hot dip galvanization are some of the choices that are being considered by fastener manufactures to cater to the demanding applications of automakers.
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Key Takeaways from Market Study
- The industrial fasteners market is anticipated to add 1.6X value by 2031.
- Metal fasteners capture a major chunk of the market and are set to create an absolute $ opportunity of over US$ 60 Bn by2031.
- Among the types, nuts has been the fastest-growing segment over others globally in the past decade.
- The market in East Asia is set to dominate market revenue in 2021, and is expected to gain 169 BPS by 2031 over 2021.
- Power generation & transmission application is poised to experience highest growth among all the applications at a CAGR of 5.6% during 2021-2031.
- Due to the COVID-19 crisis, demand for industrial fasteners was hit in 2020, which saw a decline of 2.5% over the 2nd and 3rd quarters.
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Key Segments Covered in Industrial Fasteners Industry Research
- By Material
- Metal Industrial Fasteners
- Steel Industrial Fasteners
- Stainless Steel Industrial Fasteners
- Alloy Steel Industrial Fasteners
- Copper & its Alloys Industrial Fasteners
- Aluminium Industrial Fasteners
- Titanium Industrial Fasteners
- Nickel & its Alloys Industrial Fasteners
- Others
- Polymer Industrial Fasteners
- Industrial Plastic Fasteners
- Metal Industrial Fasteners
- By Type
- Screws
- Wood Screws
- Machine Screws
- Thread Cutting Machine Screws
- Sheet Metal Screws
- Self-drilling
- Socket Screws
- Others
- Nuts
- Hexagon Nuts
- Flange Nuts
- Wing Nuts
- Kep Nuts
- Push Nuts
- Castle Nuts
- Coupling Nuts
- Pal Nuts
- Others
- Bolts
- Track Bolts
- Square Bolts
- Plow Bolts
- Round Bolts
- Lag Bolts
- Aircraft Bolts
- J-bolts
- U Bolts
- Shoulder Bolts
- Elevator Bolts
- HR Bolts
- HV Bolts
- Others
- Washers
- Lock Washers
- Structural Washers
- Others
- Anchors
- Dowel Pins
- Screws
- By Application
- Chemical Grade Industrial Fasteners
- Industrial Fasteners for Heat Exchangers
- Industrial Fasteners for Exhaust Systems
- Industrial Fasteners for Tanks and Vessels
- Industrial Fasteners for Processing Equipment
- Petrochemical Grade Industrial Fasteners
- Industrial Fasteners for High Pressure Pumps & Vessels
- Industrial Fasteners for Pumping Stations
- Industrial Fasteners for Metering Pumps
- Others
- Transportation Grade Industrial Fasteners
- Industrial Fasteners for Railways
- Trains
- Infrastructure
- Industrial Fasteners for Marine
- Decks
- Tanks
- Ramps
- Bulkheads
- Others
- Industrial Fasteners for Automotive
- Industrial Fasteners for Railways
- Power Generation & Transmission Grade Industrial Fasteners
- Renewable
- Onshore
- Electrical Equipment
- Turbines
- Motors
- Exhaust Systems
- Pumping Systems
- Storage Vessels
- Offshore
- Onshore
- Non-renewable
- Renewable
- Construction Grade Industrial Fasteners
- Industrial Fasteners for Heavy-duty Machines
- Industrial Fasteners for Construction Vehicles
- Mining Grade Industrial Fasteners
- Industrial Fasteners for Precious Metal Mining
- Industrial Fasteners for Industrial Metal Mining
- Agriculture Grade Industrial Fasteners
- Defense Aerospace Grade Industrial Fasteners
- Others
- Chemical Grade Industrial Fasteners
- By Sales Channel
- Online Sales of Industrial Fasteners
- Direct to Customer Sales of Industrial Fasteners
- Third-party Online Sales of Industrial Fasteners
- Offline Sales of Industrial Fasteners
- Authorized Distributors of Industrial Fasteners
- Industrial Fasteners Sold at Garages & Workshops
- Industrial Fasteners Sold at Specialty Stores
- Online Sales of Industrial Fasteners
Key Country-wise Inclusions
• US Industrial Fasteners Market
• Canada Industrial Fasteners Market Sale
• Germany Industrial Fasteners Market Production
• UK Industrial Fasteners Market Industry
• France Industrial Fasteners Market
• Spain Industrial Fasteners Market Supply-Demand
• Italy Industrial Fasteners Market Outlook
• Russia & CIS Market Analysis
• China Industrial Fasteners Market Intelligence
• India Industrial Fasteners Market Demand Assessment
• Japan Industrial Fasteners Market Supply Assessment
• ASEAN Industrial Fasteners Market Scenario
• Brazil Industrial Fasteners Market Sales Analysis
• Mexico Industrial Fasteners Market Sales Intelligence
Report Benefits & Key Questions Answered
- Industrial Fasteners Market Category and segment level analysis: Fact MR provides a detailed analysis of the factors influencing sales growth across key segments. It highlights key growth drivers and provides useful information for identifying sales prospects at the regional and local level.
- Industrial Fasteners Market Historical volume analysis: The report provides a comparison of Industrial Fasteners Market historical sales and projected sales performance for 2021-2031.
- Industrial Fasteners Market Manufacturing trend analysis: The report offers a detailed analysis of manufacturing trends in the Industrial Fasteners Market It carefully gauges the impact of changing healthcare needs of key demographics globally
- Industrial Fasteners Market Consumption by demographics: The report investigates consumer behavior affecting Industrial Fasteners Market demand outlook for the assessment period. Effect of their keenness for digital trends on Industrial Fasteners Market is carefully analyzed
- Post COVID consumer spending on Industrial Fasteners Market Consumption: Healthcare industry has been largely influenced by COVID-19 pandemic. The Fact MR Market survey analyzed consumer spending post COVID-19. It assesses how current trends that will influence expenditure on healthcare services, thus affecting Industrial Fasteners Market growth.
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