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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

Product ID: SQMIG15B2042

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