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Industrial Fasteners Market to Witness Rapid Development During the Period 2021 to 2026 | Top Key Players – Lakshmi Precision Screws Limited, Sundram Fasteners Limited, KOVA Fasteners Private Limited

Industrial Fasteners Market

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Toronto, Canada: – Global “”Industrial Fasteners Market”” report provides information regarding market size, share, trends, growth, cost structure, global market competition landscape, market drivers, challenges and opportunity, capacity, revenue, and forecast 2026.

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Top Key players cited in the report: Lakshmi Precision Screws Limited, Sundram Fasteners Limited, KOVA Fasteners Private Limited, and Precision Castparts Corporation Fasteners
Global industrial fasteners market

Fasteners are generally used to join the different parts of items by using nuts and bolts, washers, screws, clips, clamps and other products. The global industrial fasteners industry is considered to be highly fragmented and is competitive in nature, with small and large scale manufacturing companies operating in the United States, China, Japan, Germany, and India.
The market is expected to reach a value of INR 7,706 Bn by 2023, expanding at a CAGR of ~6.5% from 2018. Rising demand for fasteners in the automotive industry, coupled with an increase in construction and manufacturing spending in emerging countries like China, Brazil, Saudi Arabia, Australia, Indonesia and India, is expected to drive the demand for industrial fasteners during the forecast period.

Asia-Pacific was the largest market for fasteners in 2017, accounting for a major share of the fasteners manufactured globally. The major reason for this growth can be attributed to the increasing number of construction activities and growing automobile manufacturing in countries like China and India. Europe is one of the largest markets for industrial fasteners apart from being the second largest industrial fasteners manufacturing region in the world. However, lack of product differentiation and elasticity of prices of raw materials such as alloys, stainless steel and copper are hindering the growth of the market.
Precision Castparts Corporation, Stanley Black & Decker Inc., Wilhelm Böllhoff GmbH & Co. KG and Nitto Seiko Co. Limited, are the top four industrial fasteners manufacturing companies.

India industrial fasteners market

Owing to its application in diverse sectors, a wide range of fasteners are manufactured in the Indian market, which include exhaust bolts, balance wheel bolts, standard hexagon screws/bolts, socket head cap screws, socket shoulder screws, weld nuts, square nuts, hexagon nuts, self-tapping screws and others. With help from the Indian government’s ‘Make in India’ initiative, the Indian manufacturing sector is expected to generate huge demand for the industrial fasteners market.
The Indian industrial fasteners market is expected to reach a value of INR 460 Bn by 2023 expanding at a CAGR of ~9.6% from 2018. Fastener companies usually sell their products in India through various distribution channels – distributors, direct dealers, online channels and industrial events. De-licensing of the industry is facilitating the entry of major global manufacturers in the Indian market. The majority of fasteners that were imported by India in FY 2018 was other screws and bolts, whether or not with their nuts or washers followed by other non-threaded articles and threaded nuts.

Market segmentation

The Indian industrial fasteners market is segmented on the basis of application, product type and the organization of the market. The Indian automotive sector is expected to be the largest consumer of industrial fasteners, accounting for a major share of the market by 2023. This will be because of owing to increased automotive manufacturing in the country. It is followed by the construction and the engineering sector.
High-tensile fasteners are mainly used in the construction and engineering sector, whereas mild steel fasteners are used in manufacturing automobiles. Currently, there has been a shift in preference of manufacturing fasteners by using stainless steel, iron, brass, aluminium, nickel and plastics and composites.

Key growth factors

o Increasing sale of automobiles in India is significantly driving the growth of the auto ancillary market in the country, including automobile sector-specific fasteners. Growing usage of fasteners for manufacturing automotive parts such as engines, chassis, moulding, suspension system and wheels among others, is expected to drive the growth of the Indian industrial fasteners market during the forecast period.

What’s covered in the report?

1. Overview of the global Industrial Fasteners market
2. Market drivers and challenges in the global Industrial Fasteners market
3. Market trends in the global Industrial Fasteners market
4. Historical, current and forecasted market size data for the global Industrial Fasteners market
5. Historical, current and forecasted market size data for the deployment segment which includes cloud, on-premises and hybrid
6. Historical, current and forecasted market size data for the component segment which includes integrated solutions, standalone solutions and services
7. Historical, current and forecasted market size data for the end user industry verticals segment which includes software and technology, media, BFSI, healthcare, and others
8. Historical, current and forecasted regional (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa) market size data for Industrial Fasteners market
9. Analysis of the global Industrial Fasteners market by value chain
10. Analysis of the competitive landscape and profiles of major competitors operating in the market

Why buy?

1. Understand the demand for Industrial Fasteners to determine the viability of the market
2. Determine the developed and emerging markets for Industrial Fasteners
3. Identify the challenge areas and address them
4. Develop strategies based on the drivers, trends and highlights for each of the segments
5. Evaluate the value chain to determine the workflow
6. Recognize the key competitors of this market and respond accordingly
7. Knowledge of the initiatives and growth strategies taken by the major companies and decide on the direction of further growth

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