Global Industrial Fasteners Market is expected to reach USD 104.32 billion by 2020, according to a new study by Grand View Research, Inc. Increasing demand for fasteners in automotive industry coupled with growing construction spending as a result of economic growth and industrialization in emerging markets of China, Brazil, Saudi Arabia, Australia, Indonesia and India is expected to drive demand for fasteners over the next six years. Asia Pacific is expected to witness growth on account of increasing government investments in commercial aircraft & aerospace, defense and non building construction. Advanced processing technique and improved mechanical properties of fasteners is expected to serve new growth opportunities for the market. In addition, development of railroad fasteners is expected to open new market avenues for manufacturers over the next six years.
Browse full research report with TOC on “Industrial Fasteners Market Analysis By Product (Externally Threaded, Aerospace Grade, Other Standard), By Application (Automotive OEM, Machinery OEM, Construction, MRO) And Segment Forecasts To 2020” at:
Externally threaded fasteners were the largest product segment and accounted for over 45% of market share in 2013. Growth can be attributed to increasing use of fasteners in the automotive OEM, machinery OEM and construction industry.
Further key findings from the study suggest:
- Automotive OEM was the second largest application market accounting for over 20% of revenue share in 2013 and is expected to show significant growth over the forecast period as a result of increasing production of automobiles in China, Japan, Australia, Mexico, U.S. and India.
- Construction is expected to witness swift demand growth at an estimated CAGR of 6.9% from 2014 to 2020, due to rising government funding for large scale infrastructure and residential construction in emerging markets of China, Argentina, India, Saudi Arabia and Indonesia.
- Asia Pacific was the largest regional market accounting for over 30% revenue share in 2013 and is expected to witness growth at an estimated CAGR of around 7% from 2014 to 2020, owing to increasing production of motor vehicles, industrial machinery and electrical & electronic components. In addition, growing construction industry in China, Japan, India, Thailand, Australia, South Korea and Taiwan is expected to further fuel market growth.
- Key market participants include Acument Global Technologies, ITW, Nifco, LISI Group, Alcoa, Standard Fasteners Ltd., Dokka Fasteners, Kova Fasteners Pvt. Ltd., Hilti, Penn Engineering, Precision Castparts Corp., EJOT, ATF Inc., Stanley Black & Decker and MW Industries Inc. Various companies are employing nanocomposite material processing technique for the production of aerospace fasteners which is anticipated to improve performance characteristics along with cost reduction.
Global Industrial Fasteners Product Outlook (Revenue, USD Million, 2012 – 2020)
• Externally Threaded
• Aerospace Grade
• Other Standard Fasteners
See More Reports of This Category by Radiant Insights:
Global Industrial Fasteners Application Outlook (Revenue, USD Million, 2012 – 2020)
• Automotive OEM
• Machinery OEM
• Other OEM
Global Industrial Fasteners Regional Outlook (Revenue, USD Million, 2012 – 2020)
• North America
• Asia Pacific
Related Reports By Radiant Insights:
- Global PU Coating Market:
- Global Chloromethanes Market:
About Radiant Insights
For more information, visit http://www.radiantinsights.com/
Company Name: Radiant Insights, Inc.
Contact Person: Michelle Thoras, Corporate Sales Specialist – USA
Phone: (415) 349-0054, Toll Free: 1-888-202-9519
Address:28 2nd Street, Suite 3036
City: San Francisco
Country: United States