Global Industrial Fasteners Market

Industrial Fasteners Market Size, Share, Growth Analysis, By Raw material(Metal, and plastic), By Product (Internally threaded, externally threaded, non-threaded, and aerospace grade), By Application(Automotive, building & construction, aerospace, home appliances), By Region - Industry Forecast 2024-2031


Report ID: SQMIG15B2042 | Region: Global | Published Date: February, 2024
Pages: 211 |Tables: 92 |Figures: 76

Industrial Fasteners Market Insights

Industrial Fasteners Market size was valued at USD 88.43 billion in 2019 and is poised to grow from USD 92.41 billion in 2023 to USD 131.42 billion by 2031, growing at a CAGR of 4.5% in the forecast period (2024-2031).

Industrial fasteners are hardware devices, and can be used to join two or more objects. The primary role of fasteners is to promote safety by joining joints. Fastener devices, like screws, can be broken down into several sub-categories. They are coach screw, self-drilling screw, pan head, drywall, and self-tapping screw. The industrial fasteners can be used in various places: consumer devices like smartphones and computers; equipment including robotics, medical adhesives, or machines. These are used in construction, automobile, aerospace, and marine industries.

Industrial fasteners market will tremendously grow due to the increasing production of industrial machinery and components during the forecasting years. The increasing requirement of nuts, bolts, nails, screws, and others will create business opportunities in the future. Whereas, the lack of raw materials, such as alloys and stainless steel, is expected to be a challenge for the industrial fasteners market during the forecast period.

US Industrial Fasteners Market is poised to grow at a sustainable CAGR for the next forecast year.

Market Snapshot - 2024-2031

Global Market Size

USD 88.43 billion

Largest Segment

Automotive

Fastest Growth

Automotive

Growth Rate

4.5% CAGR

Global Industrial Fasteners Market ($ Bn)
Country Share for Asia Pacific Region (%)

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Industrial Fasteners Market Segmental Analysis

Global industrial fasteners market is segmented based on the raw material, product, application, and region. Based on raw material, the global market is segmented into metal, and plastic. Based on product, the market is segmented into internally threaded, externally threaded, non-threaded, and aerospace grade. Based on application, the market is segmented into automotive, building & construction, aerospace, home appliances, and others. Based on region, it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.

Industrial Fasteners Market Analysis by Product

Based on product, the industrial fasteners market is segmented into internally threaded, externally threaded, non-threaded, and aerospace grade. The externally threaded product segment is anticipated to hold the largest market share during the given forecast period. The types of externally threaded fasteners are bolts and screws. The externally threaded products are commonly utilized in the various sectors including automotive, electronics, railway, and others.

Internally threaded fasteners are nuts and inserts. Nuts are generally used opposite to bolts to stack two or more parts of the structure together. The hexagonal nuts are used in large-scale applications such as construction, industrial machinery, railways, cars, and others.

Pins, rivets, hooks, washers, grommets, nails, and others are non-threaded fasteners; and are used in cable management and wire harnessing, to secure pipe fittings in the automotive and construction sectors. Plastic non-threaded fasteners are available at low cost and weight.

Industrial Fasteners Market Analysis by Application

The automotive segment is anticipated to hold the largest revenue share during the forecasting timeline attributing to the large-scale production of commercial and passenger vehicles across the globe. The increasing adoption of electric vehicles is expected to increase the production of vehicles across the globe, resulting in propelling the demand for fasteners in the market.

The aerospace segment is, however, anticipated to witness the fastest CAGR during the forecast years. The aerospace industry mostly uses metal fasteners produced using high-strength materials with high resistance.

Global Industrial Fasteners Market By Application, 2023 (%)

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Industrial Fasteners Market Regional Insights

Asia Pacific is expected to dominate the global market during the anticipated period owing to the contributions of multinational and domestic players engaged in automotive, machinery, and component manufacturing operations coupled with the major manufacturing enterprises in India and China are expected to further drive the market.

North America is predicted to significantly grow over the forecast period as the United States was the largest importer in the world in 2020; and may continue the same due to the high product demand from aerospace and other industrial applications.

Europe is, however, growing at a healthy pace due to the availability of multinational automakers in the region along with greater production facilities and innovative manufacturing techniques. In Europe, Germany held the largest industrial manufacturing country of more than 20% of the overall market share because of various industries such as electronics, machinery, and automotive industries.

Global Industrial Fasteners Market By Region, 2024-2031
  • Largest
  • Fastest

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Industrial Fasteners Market Dynamics

Industrial Fasteners Market Drivers

Its Demand in Defence Sector to Bolster Market Growth

  • The increasing demand from the aerospace industry will foster the industrial fasteners market growth during 2022–2028. Because the usage of hardware items such as nuts, bolts, cables, washers, and others to help in structuring aircrafts. The market is growing due to the increasing research & development and expenditure in the defense sector along with the increasing commercial aircraft production capacity.

Industrial Fasteners Market Restraints

Alternatives available in the Global Market will Obstruct Market Development

  • The replacement of metal fasteners for tapes, adhesives, and others are anticipated to inhibit the market growth during the forecasting period. The automotive sector is mainly affected due to the presence of alternatives including welding and auto parts clinching.

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Industrial Fasteners Market Competitive Landscape

Global industrial fasteners market is highly competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D.

Industrial Fasteners Market Top Player's Company Profiles  

  • Illinois Tool Works Inc.
  • Stanley Black & Decker, Inc.
  • Arconic Inc.
  • Bulten AB
  • Fontana Gruppo S.r.l.
  • Hilti AG
  • LISI Group
  • MacLean-Fogg Company
  • Nifco Inc.
  • Nippon Steel & Sumitomo Metal Corporation
  • Precision Castparts Corp.
  • Shanghai Prime Machinery Co., Ltd.
  • Sundram Fasteners Limited
  • PennEngineering
  • SFS Group AG
  • Shenzhen Inno Industrial Group Co., Ltd.
  • Topura Co., Ltd.
  • TR Fastenings Limited
  • Würth Group
  • Zimmer Biomet Holdings, Inc.

Industrial Fasteners Market Recent Developments

  • In September 2022, Southco Asia Ltd., a subsidiary of Southco Inc., the leading global designer and manufacturer of engineered access solutions like locks, latches, captive fasteners, electronic access solutions and hinges/ positioning technology has extended its successful line of externally mounted free-swinging hinges with three new options designed for heavy-duty applications. 
  • In February 2022, MacLean-Fogg Component Solutions (MFCS) released Threadstrong Line aftermarket wheel fasteners and the accompanying e-commerce website www.Threadstrong.us. The customers can directly avail these fasteners through the website; and this strategy may help the company grow its business and market share.

Industrial Fasteners Key Market Trends

  • Rising demand in other application industries such as construction and machine manufacturing, as well as urbanisation and industrialization, all positively impact the industrial fasteners market. Manufacturers are well aware of this, which is why they are constantly innovating to introduce industrial fasteners that improve on existing structural features and address issues with previous products.

Industrial Fasteners Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.

According to our global industrial fasteners market analysis, the increasing automotive production is expected to drive the growth of the industrial fasteners market in Asia Pacific region during the forecast period (2022-2028). Increasing production of commercial aircraft attributing to the rise of air passengers across the globe propelled the demand for specialty-grade fasteners, resulting in enhancing the market growth. However, insufficient raw materials including alloys and stainless steel is expected to act as a challenge for the industrial fasteners market.

Report Metric Details
Market size value in 2023 USD 88.43 billion
Market size value in 2031 USD 131.42 billion
Growth Rate 4.5%
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Raw material
    • Metal, and plastic
  • Product 
    • Internally threaded, externally threaded, non-threaded, and aerospace grade
  • Application
    • Automotive, building & construction, aerospace, home appliances, and others
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Illinois Tool Works Inc.
  • Stanley Black & Decker, Inc.
  • Arconic Inc.
  • Bulten AB
  • Fontana Gruppo S.r.l.
  • Hilti AG
  • LISI Group
  • MacLean-Fogg Company
  • Nifco Inc.
  • Nippon Steel & Sumitomo Metal Corporation
  • Precision Castparts Corp.
  • Shanghai Prime Machinery Co., Ltd.
  • Sundram Fasteners Limited
  • PennEngineering
  • SFS Group AG
  • Shenzhen Inno Industrial Group Co., Ltd.
  • Topura Co., Ltd.
  • TR Fastenings Limited
  • Würth Group
  • Zimmer Biomet Holdings, Inc.
Customization scope

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  • Segments by type, application, etc
  • Company profile
  • Market dynamics & outlook
  • Region

Historical Year 2019

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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Industrial Fasteners Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Industrial Fasteners Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Industrial Fasteners Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Industrial Fasteners Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Industrial Fasteners Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Industrial Fasteners Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Industrial Fasteners Market size was valued at USD 88.43 billion in 2019 and is poised to grow from USD 92.41 billion in 2023 to USD 131.42 billion by 2031, growing at a CAGR of 4.5% in the forecast period (2024-2031).

industrial fasteners market is highly competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D. 'Illinois Tool Works Inc.', 'Stanley Black & Decker, Inc.', 'Arconic Inc.', 'Bulten AB', 'Fontana Gruppo S.r.l.', 'Hilti AG', 'LISI Group', 'MacLean-Fogg Company', 'Nifco Inc.', 'Nippon Steel & Sumitomo Metal Corporation', 'Precision Castparts Corp.', 'Shanghai Prime Machinery Co., Ltd.', 'Sundram Fasteners Limited', 'PennEngineering', 'SFS Group AG', 'Shenzhen Inno Industrial Group Co., Ltd.', 'Topura Co., Ltd.', 'TR Fastenings Limited', 'Würth Group', 'Zimmer Biomet Holdings, Inc.'

The increasing demand from the aerospace industry will foster the industrial fasteners market growth during 2022–2028. Because the usage of hardware items such as nuts, bolts, cables, washers, and others to help in structuring aircrafts. The market is growing due to the increasing research & development and expenditure in the defense sector along with the increasing commercial aircraft production capacity.

Rising demand in other application industries such as construction and machine manufacturing, as well as urbanisation and industrialization, all positively impact the industrial fasteners market. Manufacturers are well aware of this, which is why they are constantly innovating to introduce industrial fasteners that improve on existing structural features and address issues with previous products.

Asia Pacific is expected to dominate the market during the anticipated period owing to the contributions of multinational and domestic players engaged in automotive, machinery, and component manufacturing operations coupled with the major manufacturing enterprises in India and China are expected to further drive the market.

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Global Industrial Fasteners Market

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