Industry Overview of Industrial Fasteners Market
Industrial fasteners refer to various high-quality fastening products that are generally used in several industries, including automotive, aerospace, construction, marine, etc. Chemical and weather elements can be withstood by these devices as they are meant for long-term industrial use. Consequently, industrial fasteners are extensively utilized in various sectors that require high-quality devices to resist corrosion and natural abrasions. Commonly available instruments include bolts, nuts, screws, rivets, nails, washers, studs, etc. In addition to this, carbon fiber and alloy are the preferred materials that are generally used for the manufacturing of corrosion-resistant, lightweight, and superconducting industrial fasteners for heavy-duty use. Hybrid pins created from injection-molded metals and plastics are easier to install, lighter, cost-effective, etc.
How Big Is the Industrial Fasteners Market?
The global industrial fasteners market size reached US$ 94.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 123.4 Billion by 2028, exhibiting a growth rate (CAGR) of 4.5% during 2023-2028.
Global Industry Trends and Drivers:
The escalating demand for residential and commercial housing projects, on account of the significant growth in the construction industry across countries, is among the primary factors driving the industrial fasteners market. Besides this, the widespread utilization of these devices in cable management applications and home interiors and the increasing need for manufacturing advanced lightweight product variants among the leading players are further augmenting the market growth. Moreover, continuous technological advancements in aircraft structural hardware production technology are also catalyzing the global market. Apart from this, the growing number of aircraft, the introduction of externally threaded fasteners, the rising passenger traffic, and the elevating commercial aircraft production capacities are acting as significant growth-inducing factors. Furthermore, the extensive R&D activities in the defense sector and various OEM partnerships for business expansion are anticipated to propel the industrial fasteners market over the forecasted period.
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What Is Included In Market Segmentation?
The report has been segmented the market into following categories:
Breakup by Raw Materials:
Breakup by Products:
Breakup by Type:
Breakup by Application:
Breakup by Region:
The report provides a comprehensive analysis of the industry key players listed below:
Acument Global Technologies Inc., ATF Inc., Hilti Corporation, Howmet Aerospace Inc., Kova Fasteners Private Limited, LISI SA, MacLean-Fogg Company, MISUMI Group Inc., MW Industries Inc., Nifco Inc., Precision Castparts Corp., SFS Group AG and Stanley Black & Decker Inc.
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