A recent report published by Infinium Global Research on automotive fasteners market provides in-depth analysis of segments and sub-segments in the global as well as regional automotive fasteners market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional automotive fasteners market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global automotive fasteners market.
The automotive fasteners industry is growing worldwide. One of the main reasons for this growth is the increasing number of motor vehicles being produced. The EV (electric vehicle) sector is mainly responsible for the rapid growth of the demand for fasteners that are lightweight, corrosion-resistant, and that have special properties. The market is dominated by metal fasteners that are used for structural purposes; however, plastic and composite fasteners are getting popular at a fast rate due to the need for weight reduction and electrical insulation. Some of the trends are the invention of the smart fastening that use sensors for real-time health monitoring and the modification of the fastening techniques for the new materials like aluminium and carbon composites. The aftermarket segment is also growing rapidly as vehicles are aging, and the need for services is increasing. The regulatory standards that are focused on vehicle safety, emission reductions, and drivability are the factors that most directly influence the development and selection of fasteners.
The worldwide automotive fasteners market is undergoing a gradual increase, mainly driven by the notable expansion of electric and lightweight vehicles. These vehicles necessitate advanced fasteners that can provide high strength while still being light. The International Energy Agency reports that approximately 14 million new electric vehicles were sold globally in 2023, which is 35% more than in 2022. This surge is fuelling the demand for specialized fasteners that are indispensable in battery housings and electric vehicle chassis assembly. After the pandemic, the recovery of automotive production has been a major factor in the increase of baseline fastener demand, especially in the Asia-Pacific region and North America. The market is supported by the rising safety and durability needs that are pushing manufacturers to come up with corrosion-resistant alloys and lightweight composites. On the contrary, the changes in the prices of steel and alloys due to tariff effects and ongoing trade tensions are increasing the costs of raw materials, thus creating difficulties for profitability. The differences in regulations among the major automotive centers worldwide lead to higher costs for compliance, thus retarding the speed of new product introductions. However, there are possibilities in intelligent fastening systems that facilitate predictive maintenance and in the aftermarket sectors that are supported by the increasing vehicle fleets. The rise in electric vehicle sales and the broadening of mobility solutions are the main factors that will lead to a substantial market growth during the forecast period.
Threaded fasteners are the most common ones in the market with a share of around 67%, which is mainly because of their versatility and the fact that they are the most necessary in the engine assembly, drivetrain, body, and suspension applications that require high tensile strength and serviceability. Non-threaded fasteners like clips and rivets, however, are gaining popularity quickly as the vehicle designs become lighter and the assembly methods that are rapid are more liked.
Metal fasteners, mainly made of steel and stainless steel, are the most significant ones in terms of share due to their strength, wear resistance, and low production costs, particularly in the structural applications. Plastic and composite fasteners, accelerated by the trend towards lightweight and corrosion resistance, represent the fastest growing segment and are basically responsible for the increasing use of them in the electrical systems and interior components.
Passenger cars make up the largest share both in terms of volume and value and are almost half of the market, thus, they are the main players in global light vehicle sales. Light commercial vehicles and medium/heavy commercial vehicles are next in line while the rapid increase in electric and hybrid vehicles is changing the product demand with specialized fasteners.
The powertrain and chassis parts are the main contributors of the market thanks to the most essential nature of the fasteners that are used in these components for safety and durability. Interior and exterior segment fasteners are growing due to increased comfort and design complexity, whereas electrical and emerging EV battery applications are fast-expanding niches that require precision components of high quality.
Asia Pacific dominates the global market with a share of 38.6% of total global revenue mainly because of its position as the centre for the production of automobiles in China, India, Japan, and South Korea. The situation has been strengthened by the fast electric vehicle adoption and the growing vehicle production capacity. The region is benefiting from cost-effective production and the rapid growth of export-oriented industries. By the end of the forecast period, Asia-Pacific is set to post the highest CAGR in the world. This can be attributed to the clean transportation incentives awarded by the government, industrial policies that support automotive hubs, and great demand for automotive components. The United States of America is the second-largest market by value. It is Stacking up profits through well-established ecosystems of the automotive industry, Innovation continuousness in low-weight and smart fastening systems, and big aftermarket demand. Europe is still maintaining a good position because of strict safety and environmental regulations and, consequently, the growth of EV markets.
In 2023, Aptiv launched lightweight, corrosion-resistant fasteners designed specifically for electric vehicle battery assemblies.
Stanley Black & Decker expanded production capabilities in Asia following strategic acquisitions in 2022.
Bossard Group introduced sensor-integrated smart fasteners for high-vibration and safety-critical automotive applications in 2024.
| Report Coverage | Details |
|---|---|
| Market Size in 2023 | USD 23.76 Billion |
| Market Size by 2032 | USD 35.31 Billion |
| Growth Rate from 2024 to 2032 | CAGR of 4.60% |
| Largest Market | Asia Pacific |
| No. of Pages | 300 |
| Market Drivers |
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| Market Segmentation | By Product Type, By Material Type, By Vehicle Type, and By Application |
| Regional Scope | North America, Europe, Asia Pacific, and RoW |
The report on global automotive fasteners market provides a detailed analysis of segments in the market based on Product Type, Material Type, Vehicle Type, and Application.
· Threaded Fasteners
· Non-threaded Fasteners
· Metal
· Plastic and Composite Fasteners
· Passenger Cars
· Commercial Vehicles
· Powertrain & Chassis
· Interior Components
· Exterior Components
· Electrical Systems
· Battery Systems
· Aptiv PLC
· Stanley Black & Decker Inc.
· Illinois Tool Works Inc.
· ARaymond
· LISI Automotive
· Nifco Inc.
· Bossard Group
· Bulten AB
· Infastech Inc.
· Alcoa Fastening Systems
The report provides deep insights into demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the automotive fasteners market. Moreover, the study highlights current market trends and provides forecasts from 2024-2032. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.