The global industrial fasteners market is expected to reach
USD 134.20 billion by 2025, according to a new report conducted by Grand View
Research, Inc. The growing demand for automobiles, electronics appliances,
aircraft, industrial machinery, and medical equipment will drive product demand
over the upcoming years. Furthermore, increasing government spending on
infrastructure and machinery sector is expected to aid in the market expansion.
The usage of industrial fasteners
in maintenance, repair, and overhaul (MRO) industry will foresee substantial
revenue growth at a CAGR of 5.3% from 2016 to 2025. Rising MRO activities in
various sectors including automotive, aerospace, electronics, construction, and
electrical will increase market size. The growing requirement for enhanced
efficiency from machines is anticipated to fuel the need for MRO activities,
which in turn is expected to spur the industrial fastener demand over the
upcoming years.
Browse full research report on Industrial Fasteners
Market: http://www.grandviewresearch.com/industry-analysis/industrial-fasteners-market
Further key findings from
the report suggest:
- The industrial fasteners industry is projected to
grow significantly at a CAGR of 5.7% on account of their increasing
application in automotive and construction industries in emerging
countries such as China, India, South Korea, Brazil, Thailand and Saudi Arabia
- North America accounted for 20.9% of the global
revenue share in 2015 and is projected to show growth on account of rising
usage of the product in the aerospace and automotive sectors over the
upcoming years. Moreover, the presence of the large automotive
manufacturers, such as Chrysler, Dodge, Jeep, Ford, Chevrolet, Buick,
Cadillac, and Lincoln, will drive demand over the forecast period.
- Other standard fasteners are expected to witness
considerable revenue growth at a CAGR of 5.4% from 2016 to 2025 owing to
increasing usage in various applications including medical equipment,
electronics, industrial controls, furniture, and appliances
- Machinery OEM application is anticipated to show
substantial growth over the upcoming years in light of increasing fastener
usage in textile machinery, rubber, sugar machinery, metallurgical
equipment, cement machinery, and dairy machinery. The market is estimated
to be worth USD 24.69 billion by 2025
- The industry is highly fragmented and competitive in
nature with small and large scale manufacturers in the U.S., China, Japan,
Germany, and India. Dominant players include Nifco, ITW, LISI Group, Alcoa
and Precision Castparts Corporation.
- In October 2016, ATF went into licensing agreements
with EJOT for FDS, DELTA PT, FLOWpoint, and SHEETtracs. This deal is
expected to help the company in providing high-performance light-weighting
solutions.
Grand View Research has segmented the global industrial
fasteners market on the basis of product, application and region:
Product Outlook (Revenue, USD Million; 2014-2025)
- Externally
threaded
- Aerospace
grade
- Other
standard fasteners
Application Outlook (Revenue, USD Million; 2014-2025)
- Automotive
OEM
- Machinery
OEM
- Other
OEM
- MRO
- Construction
Regional Outlook (Revenue, USD Million; 2014-2025)
- North
America
- U.S.
- Europe
- Germany
- Asia
Pacific
- China
- India
- Thailand
- Japan
- South
Korea
- Central
& South America
- Brazil
- MEA
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
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