Fastener Market Report 2024 (Global Edition)

Global Fastener Market Report 2024 Market Size Split by Product Outlook: (Internally Threaded, Non threaded, Externally Threaded), by Sales Channel Outlook: (Online, Offline), by End-use Outlook: (Aut...

Fastener Market Report Description

We have various report editions of Fastener Market, hence please contact our sales team and author directly to obtain/purchase a desired Edition eg, Global Edition, Regional Edition, Country Specific Report Edition, Company Profiles, Forecast Edition, etc. Request for your Free Sample PDF/Online Access.

Competitive Landscape of the Fastener Market

The fastener market is characterized by a diverse range of competitors vying for market supremacy. Due to the growing demand from the automotive, aerospace, and construction industries, several major manufacturers have created new fasteners that are both lightweight and extremely strong. With their distinctive products, a number of other producers are also actively participating in the market. Companies are constantly trying to obtain an advantage through technical advancements, customer-focused features, and diversifying their product lines because the competition is so intense. The industry is expected to see even more fierce competition among these firms as long as consumer demand for fasteners keeps rising.

May 2024: Las Vegas, Nevada-based Vegas Fastener Manufacturing LLC has partnered with Charlotte, North Carolina-based IperionX Limited. Through this partnership, precision parts and titanium alloy fasteners created especially for the US Army's Ground Vehicle Systems Center (GVSC) will be developed and produced. The GVSC is the main research and development facility for the US military, with a focus on cutting-edge ground systems technologies. (Source: https://www.pm-review.com/iperionx-and-vegas-fastener-partner-to-produce-titanium-fasteners-for-us-army/ ) March 2024: ZAGO Manufacturing Co., a producer of switch boots and advanced sealing fasteners, has opened two new websites aimed at the German and Italian markets. For clients who would rather communicate with ZAGO in their native tongues, the company hopes to improve accessibility and engagement by developing specialized websites in German and Italian. (Source: https://www.prnewswire.com/news-releases/zago-manufacturing-co-launches-german-and-italian-websites-302080338.html ) July 2023: Connective Systems & Supply, Inc. (CSS) was acquired by Triangle Fastener Corporation (TFC). The CSS division that specialized in fasteners for mechanical, roofing, and metal building contractors was the specific aim of this transaction. (Source: https://roofingmagazine.com/triangle-fastener-corporation-acquires-a-portion-of-connective-systems-supply-inc/ ) April 2022: Fasteners and Fittings, Inc. (F&F), with its headquarters located in Toronto, was successfully acquired by LindFast Solutions Group (LSG), a well-known distributor of specialty fasteners in North America. F&F is well known for controlling the market for stainless steel fasteners, metric fasteners, and imperial fasteners. (Source: https://www.designworldonline.com/lindfast-acquires-fasteners-and-fittings/ )

Top Companies Market Share in Fastener Industry: (In no particular order of Rank)

• Precision Castparts Corp
• PennEngineering
• Araymond
• Sundram Fasteners Limited
• Trifast plc
• Lisi Group
• LLC
• Fontana Finanziaria S.p.A
• NORMA Group
• Stanley Black & Decker
• Inc.
• SFS Group USA
• Inc
• Confidential Data
• Access The Paid Version
• Data Hidden

*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

Regional Analysis of the Fastener Market

Which Region Dominates the Fastener Market in 2024?

According to Cognitive Market Research, North America currently dominates the Fastener market, and the region is expected to have significant growth during the projected period because of the rapid expansion of manufacturing operations throughout the world and the rising need for commercial buildings. Due to the presence of large market participants, the US is expected to dominate the worldwide fasteners market. To keep up with the fierce competition in the worldwide industry, market participants are heavily spending on various R&D initiatives. Additionally, the substantial increase in the production of electric vehicles and plastic fastening materials throughout the United States is becoming highly significant in the automobile industry, which propels the growth of the North American market.

Which Region is Expanding at the Fastest CAGR?

Asia-Pacific is expected to make significant gains during the projected period, with the greatest compound annual growth rate (CAGR). The fast urbanization and industrialization of developing nations like China and India are the main cause of this. The fastener industry in the area is dominated by applications in electronics, construction, automotive, and industrial machinery. The Asia Pacific market is anticipated to be driven by the rising need for improved public infrastructure, including roads, harbours, airports, and rail transportation networks, brought about by the region's economic boom.

The current report Scope analyzes Fastener Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Fastener

According to Cognitive Market Research, the global Fastener market size was estimated at USD 96142.5 Million, out of which North America held the major market share of more than 40% of the global revenue with a market size of USD 38457.00 million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.4% from 2024 to 2031.

• According to Cognitive Market Research, the US had a major share in the Fastener market with a market size of USD 30342.57 million in 2024 and is projected to grow at a CAGR of 3.2% during the forecast period because of variations in the need for construction, industrial activity, and technical developments.
• The Canada Fastener market had a market share of USD 4614.84 million in 2024 and is projected to grow at a CAGR of 4.2% during the forecast period fueled by growing expenditures in infrastructure projects, as well as the automobile and aerospace industries.
• The Mexico Fastener market is projected to witness growth at a CAGR of 3.9% during the forecast period, with a market size of USD 3499.59 million in 2024.

Europe Fastener

According to Cognitive Market Research, the global Fastener market size was estimated at USD 96142.5 Million, out of which Europe held the market share of more than 30% of the global revenue with a market size of USD 28842.75 million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.7% from 2024 to 2031.

• The United Kingdom Fastener market had a market share of USD 4845.58 million in 2024 and is projected to grow at a CAGR of 4.5% during the forecast period because of initiatives to expand infrastructure and a growing emphasis on manufacturing.
• The France Fastener market is projected to witness growth at a CAGR of 2.9% during the forecast period, with a market size of USD 2653.53 million in 2024.
• According to Cognitive Market Research, the German Fastener market size was valued at USD 5710.86 million in 2024 and is projected to grow at a CAGR of 3.9% during the forecast period encouraged by the area's emphasis on renewable energy initiatives and improvements in the production of automobiles.
• The Italy Fastener market is projected to witness growth at a CAGR of 3.1% during the forecast period, with a market size of USD 2480.48 million in 2024.
• The Russia Fastener market is projected to witness growth at a CAGR of 2.7% during the forecast period, with a market size of USD 4470.63 million in 2024.
• The Spain Fastener market is projected to witness growth at a CAGR of 2.8% during the forecast period with a market size of USD 2365.11 million in 2024
• The Luxembourg Fastener market is projected to witness growth at a CAGR of 3.8% during the forecast period, with a market size of USD 894.13 million in 2024.
• The Portugal Fastener market is projected to witness growth at a CAGR of 3.5% during the forecast period, with a market size of USD 605.70 million in 2024.
• The Greece Fastener market is projected to witness growth at a CAGR of 4.0% during the forecast period, with a market size of USD 346.11 million in 2024.
• The Rest of Europe's Fastener market is projected to witness growth at a CAGR of 2.4% during the forecast period, with a market size of USD 4470.63 million in 2024.

Asia Pacific Fastener

According to Cognitive Market Research, the global Fastener market size was estimated at USD 96142.5 Million, out of which Asia Pacific held the market share of around 23% of the global revenue with a market size of USD 22112.78 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.2% from 2024 to 2031.

• According to Cognitive Market Research, the China Fastener market size was valued at USD 9950.75 million in 2024 and is projected to grow at a CAGR of 6.7% during the forecast period driven by substantial investments in manufacturing and construction, as well as by the fast urbanization and industrialization.
• The Japan Fastener market is projected to witness growth at a CAGR of 5.7% during the forecast period, with a market size of USD 3051.56 million in 2024.
• The India Fastener market had a market share of USD 2653.33 million in 2024 and is projected to grow at a CAGR of 9.0% during the forecast period due to differences in the demand for industrial activities, technical advancements, and construction.
• The South Korean Fastener market is projected to witness growth at a CAGR of 6.3% during the forecast period, with a market size of USD 2211.28 million in 2024.
• The Australian Fastener market is projected to witness growth at a CAGR of 6.9% during the forecast period, with a market size of USD 1149.86 million in 2024.
• The South East Asia Fastener market is projected to witness growth at a CAGR of 8.2% during the forecast period, with a market size of USD 1525.78 million in 2024.
• The Rest of Asia Pacific Fastener market is projected to witness growth at a CAGR of 7.0% during the forecast period, with a market size of USD 1570.01 million in 2024.

South America Fastener

According to Cognitive Market Research, the global Fastener market size was estimated at USD 96142.5 Million, out of which the Latin America held the market share of around 5% of the global revenue with a market size of USD 4807.13 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.6% from 2024 to 2031.

• According to Cognitive Market Research, the Brazil Fastener market size was valued at USD 2057.45 million in 2024 and is projected to grow at a CAGR of 5.2% during the forecast period driven by rising infrastructure project spending as well as the automotive and aerospace sectors.
• Argentina's Fastener market had a market share of USD 807.60 million in 2024 and is projected to grow at a CAGR of 5.5% during the forecast period due to efforts to increase infrastructure and a greater focus on manufacturing.
• Colombia Fastener market is projected to witness growth at a CAGR of 4.4% during the forecast period, with a market size of USD 427.83 million in 2024.
• Peru Fastener market is projected to witness growth at a CAGR of 4.8% during the forecast period, with a market size of USD 394.18 million in 2024.
• Chile Fastener market is projected to witness growth at a CAGR of 4.9% during the forecast period, with a market size of USD 346.11 million in 2024.
• The Rest of Latin America's Fastener market is projected to witness growth at a CAGR of 3.7% during the forecast period, with a market size of USD 773.95 million in 2024.

Middle East and Africa Fastener

According to Cognitive Market Research, the global Fastener market size was estimated at USD 96142.5 Million, out of which the Middle East and Africa held the major market share of around 2% of the global revenue with a market size of USD 1922.85 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.9% from 2024 to 2031..

• The GCC Countries Fastener market is projected to witness growth at a CAGR of 5.7% during the forecast period, with a market size of USD 822.98 million in 2024 influenced by the region's focus on renewable energy projects and advancements in auto manufacturing.
• The Egypt Fastener market is projected to witness growth at a CAGR of 5.2% during the forecast period, with a market size of USD 201.90 million in 2024.
• The South Africa Fastener market is projected to witness growth at a CAGR of 5.9% during the forecast period, with a market size of USD 303.81 million in 2024 driven by significant expenditures in construction and manufacturing, as well as by the world's rapid industrialization and urbanization.
• The Turkey Fastener market is projected to witness growth at a CAGR of 4.4% during the forecast period, with a market size of USD 165.37 million in 2024.
• The Nigeria Fastener market is projected to witness growth at a CAGR of 4.0% during the forecast period, with a market size of USD 201.90 million in 2024.
• The Rest of the MEA Fastener market is projected to witness growth at a CAGR of 3.9% during the forecast period, with a market size of USD 226.90 million in 2024.

Fastener Market Analysis

How are Segments Performing in the Global Fastener Market?

Fastener Market Product Segment Analysis

According to Cognitive Market Research, the externally threaded category is likely to dominate the Fastener Market over the forecast period. The segment's growth is anticipated to follow the demand from the different industries for the most widely utilized products. Some examples of threaded fasteners are studs, bolts, and screws. Bolts are commonly used with nuts, washers, and other accessories to create a secure, temporary connection that can be removed as needed. The friction created by creating a clamp force as the bolt's nut is tightened holds the fastener in place. Additionally, screws are widely employed in applications that need external threading. They are available in different varieties, such as self-tapping screws, sheet metal screws, wood screws, and machine screws. Wood screws are made to be used in wood or similar materials, whereas machine screws are typically used with nuts or tapped holes.

The internally threaded is the fastest-growing segment in the Fastener Market. Internally threaded nuts, such as cap nuts, coupling nuts, castle nuts, square nuts, T-nuts, and wing nuts, are part of the market segment in question and contribute to its overall sales. Internally threaded fasteners find extensive use in a variety of industrial settings for tightening machinery such as motors, blowers, centrifugal fans, and automotive parts. The global market for fasteners is the reason for the aforementioned segment's substantial market share.

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Fastener Industry. Request a Free Sample PDF!

Fastener Market Sales Channel Segment Analysis

According to Cognitive Market Research, the offline segment holds the largest share of the market. Direct sales and physical locations provide instant product availability, individualized service, and hands-on fastener inspection—all of which are essential for sectors needing urgent or customized solutions. Strong ties with regional distributors and contractors help offline channels as well by guaranteeing a consistent demand. Industrial centres and areas with increasing digital infrastructure help the offline segment's growth and keep it relevant in the market.

In the Fastener Market, the online has been expanding at a rapid pace spurred by digital change across businesses and the growing use of e-commerce platforms. Online channels are a desirable alternative for consumers because they offer convenience, a large selection of products, and competitive costs. This tendency has been accelerated by the increasing use of mobile devices and the internet, which makes it easier for consumers and businesses to obtain fasteners. Furthermore, confidence is increased, and transactions are encouraged through digital platforms when comprehensive product information and consumer reviews are readily available online.

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Fastener End-use Outlook: Segment Analysis

Fastener Market End-use Segment Analysis

According to Cognitive Market Research, the automotive segment holds the largest market share because of the increasing number of passenger cars and electric vehicles being produced. Expansion in the number of automobile manufacturing facilities worldwide is expected to boost the demand for fasteners in the automotive sector. In the automobile sector, fasteners such as rivets, nuts, panels, bolts, screws, studs, and others are increasingly utilized. The market for fasteners is anticipated to continue to dominate the forecast period due to the significant increase in demand for fasteners. The growing number of electric vehicles on the road highlights the need for lightweight fasteners, which is expected to propel market expansion in the years to come.

In the Fastener market, the rapidly growing sector is the aerospace machinery electronics category driven by the growing need for lightweight, high-strength materials and developments in aviation technology. Specialized fasteners that can withstand harsh circumstances like high vibration, temperature swings, and corrosive environments are becoming more and more necessary as modern aircraft and spaceship systems integrate increasingly complex electronic components. Additionally, the use of lightweight materials like titanium and composites has increased due to the global push for fuel efficiency and lower emissions; these materials need specialized fastening solutions.

• Automotive
• Building & Construction
• Aerospace Machinery Electronics
• Others

Author's Detail

Vinayak Bali

Senior Research Analyst at Cognitive Market Research

LinkedIn

Profile

Catering to tailored needs of clients in Consulting, Business Intelligence, Market Research, Forecasting, Matrix-Modelling, Data Analytics, Competitive Intelligence, Primary research and Consumer Insights.

Author's Conclusion