Latest News- Automotive Fasteners Market: OEM is expected to lead the End-user segment during 2025-2029

The Automotive Fasteners Market is being driven by Cost advantages of using plastic automotive fasteners

The Automotive Fasteners Market is expected to grow at a CAGR of 8.2% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 9931.6 million. In response to the evolving automotive industry trend towards lightweighting vehicles, automotive fastener manufacturers are innovating to create lightweight solutions without sacrificing strength. Lightweight materials, such as aluminum and high-strength steel, are increasingly used in vehicle body, chassis, interior applications, and powertrain components. To join these lightweight materials, manufacturers employ advanced fastening technologies, including clinching, flow drilling screws for metals, and thread-forming screws for plastics. These technologies enable the joining of dissimilar or thin materials with standard strength while reducing weight. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• End-user
  • OEM
  • Aftermarket
• Vehicle Type
  • Passenger cars
  • Commercial vehicles
• Material
  • Stainless steel
  • Plastic
  • Aluminum
• Type
  • Threaded
  • Non-threaded
• Application
  • Engine
  • Chassis
  • Interior trim
  • Front/rear axle
  • Others
• Geography
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • Europe
    • Germany
    • UK
    • France
  • North America
    • Canada
    • Mexico
    • US
  • South America
    • Brazil
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Cost advantages of using plastic automotive fasteners
• Growing popularity of structural blind fasteners
• Stringent regulations to control emissions

However, the market also witnesses some limitations, which are as follows:

• Fasteners-related recall due to improper manufacturing procedures
• Increasing number of players in automotive fastener supply chains
• Sharp decline in automobile production and sales

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Market Scope in Automotive Fasteners Market Research Report

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Research Analysis Overview

The Automotive Fasteners Market encompasses thread rolling and cold heading techniques for manufacturing. Products exhibit superior fatigue resistance, shear strength, tensile strength, yield strength, creep resistance, impact resistance, and corrosion resistance. Powder coating enhances surface finish, while thermal conductivity, coefficient of friction, elastic modulus, proof load, and break load ensure optimal performance. Automation technologies, lean manufacturing, just-in-time inventory, and quality assurance boost assembly line efficiency and production capacity. Sustainable practices, such as circular design, renewable energy, and carbon footprint reduction, are integral. Digital marketing strategies, including online marketplaces, content marketing, social media, CRM, data-driven decisions, predictive analytics, machine learning, VR, AR, IoT, and sensor technology, streamline operations.

Market Research Overview

The global automotive components and equipment market encompasses businesses producing parts and accessories for various automobile categories, including passenger cars (PCs), electric vehicles (EVs), commercial vehicles (CVs), heavy-duty vehicles, off-road vehicles, motorcycles, scooters, quad bikes, and three-wheelers. According to Technavio, market size is determined by the consolidated revenue generated by automotive component and equipment manufacturers. Key growth drivers for this market include the surge in electronic components in automobiles, such as electronic control units (ECUs) and other electrical components, fueled by the rising sales of EVs, motorcycles, and PCs over the past decade. Additionally, the demand for high-performance fasteners like welded fasteners, self-tapping screws, threaded fasteners, non-threaded fasteners, specialty fasteners, and high-strength fasteners is expected to escalate due to the increasing production of automobiles and the need for enhanced vehicle safety and durability.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/