Global Industrial Fasteners Market Overview:
Industrial fasteners refer to high-quality fasteners that are used in a variety of applications, ranging from the automobile industry to maritime and construction projects. The market of industrial fasteners is witnessing a huge growth due to factors like increasing demand from the automotive, construction, and manufacturing industry and developments in the maintenance industry. While some of the factors like defective product offering and fluctuating price of raw materials is further hampering the market growth. Some of the key players profiled in the study are Alcoa Fastening Systems & Rings (United States), Precision Castparts Corp. (United States), Illinois Tool Works (United States), Acument Global Technologies, Inc. (United States), ATF, Inc. (United States), Dokka Fasteners A S (Denmark), LISI Aerospace (United States), Nippon Industrial Fasteners Company (Nifco) (Japan), STANLEY (United States) and Penn Engineering & Manufacturing nation (United States).
On the basis of geography, the market of Industrial Fasteners has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Commodity, the sub-segment i.e. Bolts will boost the Industrial Fasteners market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Material, the sub-segment i.e. Steel will boost the Industrial Fasteners market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Increasing demand from the automotive, construction, and manufacturing industry
- Developments in the maintenance industry
Market Trend
- Rising demand for high-value titanium fasteners in the aerospace industry
- Growing demand for specialty fasteners
Restraints
- Defective products hampering the market
Opportunities
- Increased government spending in the industrial sector especially in the Asia Pacific, African and Mexican region
Challenges
- Fluctuating prices of raw materials such as steel, copper, and aluminum
Major Market Developments:
Alcoa Corporation, a global leader in bauxite, alumina, and aluminum products, announced that, from November 1, 2019, it has implemented a new operating model that will result in a leaner, more integrated, operator-centric organization that accelerates the Company’s strategic priorities.
Despite the presence of competition and brand effect problems, due to the awareness of end-users and their demand for high end products, investors are still optimistic about this area. There will be more new investors entering into this industry in the future. The manufacturers who want to occupy the market must depend on market mechanism reform, manufacturing equipment innovation, core technology improvement and brand establishment.
Target Audience:
Manufacturers of Industrial Fastener, Suppliers of Industrial Fastener, Importers and Exporters of Industrial Fastener, Government bodies, Research Organization and Others
Major Objectives Focused through this Study
To define, describe, and forecast the Global Industrial Fasteners market on the basis of product [
] , application [Construction, Engineering (including machinery used in manufacturing activities), Automotive and Others (including oil Refinery, Chemicals, MRO activities)], key regions and end user
To provide in-depth information regarding major influencing factors affecting the growth of the market (trends, drivers, restraints, opportunities, and industry-centric and regional challenges)
To strategically analyse the micro-markets and important business segments with respect to individual growth drivers , market trends and potential, and historical contributions to the total market
Identifying the opportunities in the market for key stakeholders and detailing the competitive landscape for market leaders
To provide market size for various segments of the Industrial Fasteners market with respect to major geographies, namely, South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico)
To strategically profile the key players and analyzing their market shares and core competencies in the Industrial Fasteners industry
To track key developments such as product launches, expansions, agreements, partnerships, mergers & acquisitions, and R&D activities that are key factors in shaping the market
Available Customization:
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**. Additionally, the Manufacturers which are also part of the research are Hilti Corporation (Liechtenstein), Standard Fasteners (United States), EJOT (Germany) and MW Industries (United States).
** Confirmation on availability of data would be informed prior purchase
While framing the research framework, major and emerging players operating in the Industrial Fasteners market in various regions have been profiled, and their offerings, geographic footprints, and distribution/sales channels have been analysed through in-depth discussions. Top-down and bottom-up approaches have been used to determine the overall market size. Sizes of the other individual markets have been estimated using the percentage splits obtained through secondary sources such as Hoovers, Bloomberg BusinessWeek, and Dow Jones (Factiva), along with primary respondents. The complete methodology includes the study of the annual and financial reports of the key market players and extensive interviews with industry experts such as CEOs, VPs, directors, and marketing executives for key insights (both qualitative and quantitative) related to the market.