Global Industrial Fasteners Market: Overview
The global industrial fasteners market is expected to gain momentum owing to the surge in maintenance activities around the world. Adding to that, there is increase in undertaking constructions that also boosts the market for industrial fasteners all around the world. Fasteners are basically those devices used for joining two or more devices, surfaces or components together. Fasteners basically require features like easy to use, cost effective and strong for handling loads of pressure along with corrosion resistivity. Industrial fasteners may be in the form of clips, washers, nails, bolts, and screws.
There are different variations in the market for industrial fasteners market on the basis of application and product analysis. Further classification under these categories are standard, aerospace grade and externally threaded, machinery OEM, construction, automotive OEM and MRO as well. Industrial fasteners may be applied in a variety of sectors like machineries, automobiles, industries, electronics, and construction. Out of these, externally threaded fasteners and OEMs are presumed to be more in demand and contribute larger shares to the overall market.
The report presented here is a complete evaluation of the global industrial fasteners market with large focus on market dynamics. It includes the market drivers, restraints, and trends and opportunities. It also offers geographical and other segmentation studies of the market.
Global Industrial Fasteners Market: Trends and Opportunities
In order to analyze the survival capability of the industrial fasteners market, statistical data along with other market predictions are made so that both new entrants as well as the existing players may have good amount of business to make. For that matter, the global industrial fasteners market is quite mature and may expect to ascend in its CAGR rates in the future years.
An important factor assumed to boost the global industrial fasteners market is the rise in demand for automobiles especially in the developing nations of the world. However, there may be factors that may hamper the overall market growth like introduction of high anti-dumping duties and its implementation. This is imposed by the European Union and may hinder the demand for industrial fasteners on a global basis.
Nevertheless, developing tailor-made fasteners in order to suit the swift growth of niche applications like solar equipment and railroads may boost the overall market to open up new opportunities in upcoming years.
Global Industrial Fasteners Market: Regional Analysis
The global industrial fasteners market may be classified into the regions of North America, Europe, Asia Pacific, Latin America and the Rest of the World. Both North America and Europe may be expected to contribute larger shares to the overall market owing to the increasing demand for restructuring and renovation activities in the regions.
Asia Pacific is also anticipated to grow at a rapid speed due to favorable economic conditions that increased the disposable incomes of people in the region. This ultimately drives the need for more durable goods of better quality. The construction of both residential as well as non-residential buildings also increased with rise in population in order to cater to the needs of the people. Adding to that, there is also a rise in demand for automobiles in the developing countries of India and China that ultimately fuels the growth of industrial fasteners in the Asia Pacific region.
Global Industrial Fasteners Market: Competitive Analysis
The global industrial fasteners market is anticipated to be fragmented highly due to the major challenges faced by leading players along with the entry of new players in the market. The top players of this market are NIFCO and Precision Castparts Corporation, Alcoa Incorporated, LISI Group, Stanley Black & Decker and Illinois Tool Works Incorporated.