The Industrial Fasteners by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Industrial Fasteners, The
industrial fasteners market size has grown strongly in recent years. It will
grow from $89.73 billion in 2023 to $95.04 billion in 2024 at a compound annual
growth rate (CAGR) of 5.9%. The growth in the historic period can be
attributed to manufacturing and construction growth, automotive industry
expansion, globalization of supply chains, infrastructure development projects,
quality and standardization requirements.
The industrial fasteners market size is expected to see strong growth in the
next few years. It will grow to $119.12 billion in 2028 at a compound annual
growth rate (CAGR) of 5.8%. The growth
in the forecast period can be attributed to rise of renewable energy projects,
e-commerce impact on distribution, sustainable fastener solutions, automotive
lightweighting initiatives,shift towards lightweight materials. Major trends in
the forecast period include high-performance materials, digitalization and
industry 4.0 integration, customization and specialty fasteners, digitalization
of inventory management, technological integration in fastener design.
Increasing demand for construction activities is expected to propel the growth
of the industrial fasteners market going forward. Construction refers to an
activity of putting together various elements to create a structure for a
specific location, using a detailed design and plan. Industrial fasteners
provide shear strength and corrosion resistance capabilities of fastener tools such
as bolts, nuts, screws, rivets, nails, washers, and studs that are used in
construction, as a result, increasing demand for construction increases the
demand for industrial fasteners market. For instance, in June 2021, according
to the Stats NZ Tatauranga Aotearoa, a New Zealand-based government data
agency, building activities increased by 3.7 percent in March 2021. Further, in
2021, residential activities rose 4.3% compared to 2020. Additionally,
according to US Census Bureau, The value of construction activities increased
from $1,626.4 billion in 2021 to $1,792.9 billion in 2022 with a growth rate of
10.2%. Therefore, an increasing demand for construction activities is driving
the growth of the industrial fasteners market.
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The industrial fasteners market covered in this report is segmented –
1) By Type: Externally Threaded, Internally Threaded, Non-Threaded, Aerospace
Grade
2) By Raw Material: Metal, Plastic
3) By Application: Automotive, Aerospace, Construction, Industrial Machinery,
Plumbing Products, Other Applications
Product innovations are a key trend gaining popularity in the industrial
fasteners market. Major companies operating in the industrial fasteners sector
are focused on developing and launching new innovative products to strengthen
their position in the market. For instance, in March 2021, Valley Forge &
Bolt, a US-based manufacturer of industrial fasteners launched a new High Temp
Maxbolt. This product helps to reduce downtime, premature wear, and
catastrophic joint failures in critical industries such as processing, mining,
and energy. This is featured with a high-temperature lens, and an easy-to-read
gauge, the new bolt that is suitable in rapid thermal cycle applications and in
prolonged high-temp situations.
The industrial fasteners market report table of contents includes:
1. Executive Summary
2.
Industrial Fasteners Market Characteristics
3.
Industrial Fasteners Market Trends And Strategies
4.
Industrial Fasteners Market - Macro Economic Scenario
5. Global
Industrial Fasteners Market Size and Growth
.
31. Global Industrial Fasteners Market Competitive Benchmarking
32. Global
Industrial Fasteners Market Competitive Dashboard
33. Key
Mergers And Acquisitions In The Industrial Fasteners Market
34.
Industrial Fasteners Market Future Outlook and Potential Analysis
35.
Appendix
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