According to Arizton’s latest research report, the industrial fasteners market will grow at a CAGR of 5.74% from 2023 to 2029.
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Industrial Fasteners Market Report Scope
|
Report Scope |
Attributes |
|
Market Size (2029) |
USD 124.98 Billion |
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Market Size (2023) |
USD 89.43 Billion |
|
CAGR (2023-2029) |
5.74% |
|
Historic Year |
2019-2022 |
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Base Year |
2023 |
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Forecast Year |
2024-2029 |
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Market Segments |
Material, Product, Type, End-user, Distribution Channel, and Geography |
|
Geographic Analysis |
North America, Europe, APAC, Latin America, and Middle East & Africa |
The global economic scenario, impacted by events like the COVID-19 pandemic, is crucial in shaping various industries, including manufacturing and construction, affecting the demand for fasteners. Despite initial setbacks due to the pandemic, the demand for industrial fasteners has rebounded, driven by resumed manufacturing and construction activities worldwide. Developing economies like China and India are experiencing significant growth opportunities, with infrastructure development being a key driver. Government policies and economic reforms in countries like Mexico, the UAE, and Peru aim to counter economic weaknesses and stimulate investment. Accommodative monetary policies in Europe are expected to sustain domestic demand and production. In the US, factors such as labor market expansion and infrastructure programs could boost industrial growth. The demand for fasteners is projected to continue growing as economies recover and industries expand, with China and India expected to witness notable development.
Green Initiatives Propel Growth of Industrial Fasteners Market in the Renovation Sector
The surge in global green initiatives and regulations has catalyzed significant growth in the industrial fasteners market, particularly within renovation projects. As countries and industries prioritize environmental sustainability, the demand for energy-efficient and eco-friendly construction practices has soared. Industrial fasteners play a vital role in supporting these initiatives by securing new energy-efficient components and sustainable construction materials. Renovation projects aligned with green initiatives emphasize energy efficiency, sustainable materials, compliance with green building codes, and the principles of the circular economy. Additionally, the pursuit of green building certifications, water management system upgrades, indoor air quality improvements, and climate-responsive construction practices have further propelled the demand for specialized fasteners. Government incentives for green renovations further drive the adoption of sustainable construction practices, including eco-friendly fasteners. Overall, integrating green principles into renovation projects underscores the essential role of industrial fasteners in creating a more sustainable and resilient built environment.
Mergers and Acquisitions Reshape the Global Industrial Fasteners Market
Mergers and acquisitions have become a significant trend in the industrial fasteners market, shaping its landscape through strategic transactions like mergers, acquisitions, consolidations, or partnerships. Companies engage in these activities to achieve various strategic objectives. One primary motivation is market expansion, allowing companies to broaden their geographical presence, tap into new customer bases, and strengthen their competitive position. Additionally, mergers and acquisitions drive economies of scale, enabling streamlined operations, optimized supply chains, and reduced costs, thereby enhancing profitability and resilience. Integration of technology and innovation is another key driver, as companies aim to stay competitive by acquiring advanced technologies and offering a broader product portfolio. Financial considerations also play a crucial role, with acquisitions providing access to additional resources, diversifying revenue streams, and bolstering financial stability. Overall, mergers and acquisitions are instrumental in reshaping the industrial fasteners market, driving growth, innovation, and competitiveness among industry players.
APAC Leads Global Industrial Fasteners Market with Dynamic Growth and Diverse Contributions
The APAC region stands as a dominant force in the global industrial fasteners market, driven by robust manufacturing activities and a wide range of industries. China, renowned as a manufacturing powerhouse, plays a pivotal role in shaping market dynamics, with its vast industrial base generating significant demand across sectors like automotive, electronics, and construction. Japan, known for its technological prowess, particularly in automotive and electronics, contributes high-quality fasteners, enhancing APAC’s competitiveness. India’s rapid economic growth fuels demand through the construction and automotive sectors, supported by initiatives like smart city development. Other contributors like South Korea, Singapore, and Malaysia add to the region’s vibrancy, each bringing unique strengths in technology and manufacturing capabilities. The APAC market benefits from a diverse ecosystem of fastener manufacturers, fostering innovation and catering to evolving industry needs. With ongoing urbanization, infrastructure development, and industrialization, coupled with the demand for the automotive and electronics sectors, APAC remains a dynamic and pivotal segment in the global industrial fasteners market.
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Key Company Profiles
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Stanley Black & Decker
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Hilti
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ITW
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Berkshire Hathaway
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Howmet Aerospace
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LISI
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NIFCO
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Fontana Gruppo
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3M
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A&G Fasteners
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Agrati Group
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Aoyama Seisakusho
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APL
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ARaymond
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B&B Specialties
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Böllhoff Group
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Boltfast
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Bulten
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Caparo
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CBC Fasteners
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Deepak Fasteners
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EJOT
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Ever Hardware Industrial
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Federal Screw Works
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FUCHS Schraubenwerk
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Jinyi Industrial Co.
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KAMAX
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KOVA Fasteners
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MacLean-Fogg
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PennEngineering
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Tong Hwei Enterprise Co.
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Würth Industrie Service
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Virginia Fasteners
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Apex Fasteners
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C. & E. FEIN
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Hebei Tailian Fastener Manufacturing
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Bolt Motorcycle Hardware
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MID-CONTINENT STEEL AND WIRE
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Kerb-Konus-Vertriebs
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Snap-on
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Fasteners & Fittings
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Southern Fasteners & Supply
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Jet-Tek
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AMPG (Accurate Manufactured Products Group)
Market Segmentation
Material
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Metal
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Non-metal
Product
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Screws
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Nuts
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Bolts
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Washers
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Others
Type
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Threaded
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Non-threaded
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Specialty
End-user
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Automotive
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Aerospace
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Machinery
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Construction
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Consumer Appliances and Furniture
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Others
Distribution Channel
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Offline
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Online
Geography
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APAC
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China
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India
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Japan
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South Korea
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Singapore
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Malaysia
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The Rest of APAC
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Europe
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Germany
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France
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The UK
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Italy
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Spain
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Russia
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Rest of Europe
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North America
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The US
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Canada
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Latin America
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Brazil
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Mexico
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Argentina
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The Rest of Latin America
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Middle East & Africa
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The GCC
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Turkey
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Israel
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The Rest of Middle East and Africa
Key Questions Answered in the Report:
How big is the industrial fasteners market?
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What are the significant trends in the industrial fasteners market?
Who are the key players in the global industrial fasteners market?
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