Automotive Fasteners Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

The Automotive Fasteners Market is segmented on the basis of Fastener type (Threaded and Non-Threaded), by Vehicle type (Passenger Cars and Commercial Vehicles), by Vehicle Propulsion type (IC Engine Vehicles and Electric Vehicles), by Function (Detachable and Non-Detachable), Material type (Iron, Steel, Aluminum, Brass, Plastic), and Geography (North America, Europe, Asia-Pacific, and Rest of the world). The report offers market size and forecast for automotive fasteners market in value (USD billion) for all the above segments.

Automotive Fasteners Industry Overview

Automotive Fasteners Market Summary
Study Period: 2018 - 2028
Fastest Growing Market: Asia-Pacific
Largest Market: Asia-Pacific
CAGR: > 2 %

Major Players

Automotive Fasteners Market Major Players

*Disclaimer: Major Players sorted in no particular order


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Automotive Fasteners Market Analysis

The Automotive fasteners market is anticipated to valued at USD 22.8 billion by end of 2022 and is expected to reach USD 27 billion in 2027 by registering a solid CAGR of above 2% during the forecast period (2022-2027).

The COVID-19 pandemic had hindered the growth of automotive industry across the world. Asia-pacific, being the largest exporter of automotive fasteners was deeply affected during the crisis. The disruptions in supply chain activities, the interruption in large-scale manufacturing, restrictions on travel, resulted in slowdown of market.

Although soon after Q1 of 2021, market has recovered knowingly well owing to ease in supply chain capabilities with decrease in infection rate of COVID-19 virus. In addition, production capabilities has also been improved which showcase immense growth potential in market.

The market is anticipated to grow on backs of various factors including growing vehicle production, shifting focus toward lightweight vehicles, and the increasing use of electronics in vehicles. Moreover, manufacturers are also shifting from standard fasteners to customized fasteners, and this new development will also drive this market.

Vehicle maintenance companies and MRO service provider are key nodes involved in automotive fasteners business elevting the demand. With increase in aftermarket maintenance and service actives for commercial and passengers vehicles, demand for automotive fasteners shall also witness surge in the coming assessment period.

Furthermore, mechanical advancements and enhancement in quality and sturdiness of fasteners is another element anticipated to boost demand in the market. In addition, the surging demand for reduced weight of vehicles and its stability to boost inclination towards automotive fasteners over welding to create growth opportunities in the market.

Asia-Pacific is estimated to be the largest market for automotive fasteners followed by Europe during the forecast period owing to their large production and sales of vehicles. The manufacturers are shifting from standard parts to customized parts, which likely to drive the demand for customized fasteners in the Asia-Pacific region.

Europe is projected to account for a significant share of the global automotive fasteners market due to stringent rules and regulations regarding vehicle emission enacted across the region.

Automotive Fasteners Industry Segments

Automotive fasteners include nuts, bolts, screws, retainers, spring clips or washers. The main types of automotive fasteners are nuts, bolts and washers. The scope of the report covers segmentation based on Fastener type, Vehicle type, Propulsion type, Function, Material type and Geography. The report focuses on details of trends, technologies and recent developments in the market.

By Fastener type, the market is segmented into Threaded and Non-Threaded. By Vehicle type, the market is segmented into Passenger Cars and Commercial Vehicles. By Propulsion type, the market is segmented into IC Engine Vehicles and Electric Vehicles, and By Function, the market is segmented into Detachable and Non-Detachable.

By Material type, the market is segmented into Iron, Steel, Aluminum, Brass, and Plastic, and By Geography, the market is segmented into North America, Europe, Asia Pacific, and Rest of the World. For each segment, market sizing and forecast have been done on basis of value (USD billion).

Fastener Type
Vehicle Type
Commercial Vehicles
Passenger Cars
IC Engine Vehicles
Electric Vehicles
Function Type
Material Type
North America
United States
Rest of North America
United Kingdom
Rest of Europe
South Korea
Rest of Asia-Pacific
Rest of the World
South America
Middle-East and Africa

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Automotive Fasteners Market Trends

This section covers the major market trends shaping the Automotive Fasteners Market according to our research experts:

Threaded Fasteners to Witness Significant Growth

The threaded fastener segment was responsible for majority of the market share in 2021, and is anticipated to dominate the market during forecast period. Threaded fasteners are distinct piece of hardware which contains external or internal linings normally termed as threads. These find extensive applications in the assembly and disassembly of multiple parts and components of any vehicle.

The most usual kind of these fasteners are nuts, washers and bolts. Among these, nuts will be the fastest growing threaded fasteners registering significant growth through 2026. Nuts are used in vehicle conjunctions in combination with bolts and sometimes with washers to fasten several parts collectively. These fasteners stay and adjoin together by grouping of their inner linings.

Moreover, growing demand for light weight vehicles to provide lucrative opportunities for market players during forecast period. In addition, as manufacturers are also shifting from standard fasteners to customized fasteners, this new development to drive demand in market.

"Automotive Fasteners Market - Revenue Share (%), By Fastener Type, Global, 2021"

Asia-Pacific to Exhibit the Highest Growth Rate During the Forecast Period

Asia-Pacific is projected to account for a notable share of the automotive fasteners market due to an increase in sale of vehicles across the region. Rising demand for fuel-efficient vehicles across Asia Pacific is likely to drive the automotive fasteners market in the region. Increase in aftermarket sale of vehicles fasteners across the regions also to boost demand for the automotive fasteners market across the region.

The market growth in this region is also attributed to surging production of vehicles and increasing aftermarket sale of vehicle fasteners. Japan, China, and India are booming in the market due to presence of automobile giants like Toyota, Suzuki, Mahindra & Mahindra, Isuzu, Dongfeng, SAIC Motor, and TATA Motors.

Asia-Pacific has been the driving the demand for automotive fasteners on the rocks of economies of agglomeration. With presence of almost all top automotive manufacturer and service providers, region is supplying immense growth potential for new entrant as well.

Additionally, the advancing government guidelines for use of reduced vehicle weight has led to the improvements in technologies for producing durable and lightweight components in the region. Therefore, all these aforementioned factors likely to contribute for overall development of the market in Asia-Pacific region during the forecast period.

Automotive Fasteners Market - Growth Rate By Region (2022-202/)

Automotive Fasteners Market Competitor Analysis

The market for automotive fasteners is highly competitive market with few players such as Bulten AB, Shanghai Tianbao Fastener Manufacturing company limited, etc. dominating the market. These companies collectively account for a major share of this market.

The players in market have adopted various strategies to diversify their presence globally and increase their market shares. The companies should focus on introducing more innovative products, mainly in lightweight fasteners as the demand for lightweight vehicle is increasing worldwide.

Automotive Fasteners Market Top Players

  1. Bulten AB

  2. The Phillips Screw Company

  3. Westfield Fasteners Limited

  4. KOVA Fasteners Private Limited

  5. KAMAX Holding GmbH & Co. KG

*Disclaimer: Major Players sorted in no particular order

Automotive Fasteners Market Concentration

Automotive Fasteners Market Recent Developments

  • In January 2021, Illinois Tool Works Inc. and Amphenol Corporation, a leading global provider of high-technology interconnect, antenna, and sensor solutions, announced that they have entered into an agreement under which ITW will acquire MTS Systems Corporation’s Test & Simulation business, following the closing of Amphenol’s acquisition of MTS.

Automotive Fasteners Market Report - Table of Contents


    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study




    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry


    1. 5.1 Fastener Type

      1. 5.1.1 Threaded

      2. 5.1.2 Non-Threaded

    2. 5.2 Vehicle Type

      1. 5.2.1 Commercial Vehicles

      2. 5.2.2 Passenger Cars

    3. 5.3 Propulsion

      1. 5.3.1 IC Engine Vehicles

      2. 5.3.2 Electric Vehicles

    4. 5.4 Function Type

      1. 5.4.1 Detachable

      2. 5.4.2 Non-Detachable

    5. 5.5 Material Type

      1. 5.5.1 Iron

      2. 5.5.2 Steel

      3. 5.5.3 Aluminum

      4. 5.5.4 Brass

      5. 5.5.5 Plastic

    6. 5.6 Geography

      1. 5.6.1 North America

        1. United States

        2. Canada

        3. Rest of North America

      2. 5.6.2 Europe

        1. Germany

        2. United Kingdom

        3. France

        4. Italy

        5. Rest of Europe

      3. 5.6.3 Asia-Pacific

        1. India

        2. China

        3. Japan

        4. South Korea

        5. Rest of Asia-Pacific

      4. 5.6.4 Rest of the World

        1. South America

        2. Middle-East and Africa


    1. 6.1 Vendor Market Share

    2. 6.2 Company Profiles*

      1. 6.2.1 Bulten AB

      2. 6.2.2 Shanghai Tianbao Fastener Manufacturing company Limited

      3. 6.2.3 Westfield Fasteners Limited

      4. 6.2.4 The Phillips Screw Company

      5. 6.2.5 KOVA Fasteners Private Limited

      6. 6.2.6 KAMAX Holding GmbH & Co. KG

      7. 6.2.7 LISI Group

      8. 6.2.8 Illinois Tool Works Inc.

      9. 6.2.9 The SFS Group AG

      10. 6.2.10 Nifco Inc.

      11. 6.2.11 Jiangsu Xing Chang Jiang International Co., Ltd.


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Automotive Fasteners Market Research FAQs

The Automotive Fasteners Market is studied from 2018 - 2028.

The Automotive Fasteners Market is growing at a CAGR of >2% over the next 5 years.

The Automotive Fasteners Market is valued at 22 Billion USD in 2018.

The Automotive Fasteners Market is valued at 27 Billion USD in 2028.

Asia-Pacific is growing at the highest CAGR over 2018 - 2028.

Asia-Pacific holds highest share in 2021.

Bulten AB, The Phillips Screw Company, Westfield Fasteners Limited, KOVA Fasteners Private Limited, KAMAX Holding GmbH & Co. KG are the major companies operating in Automotive Fasteners Market.

Automotive Fasteners Industry Reports

In-depth industry statistics and market share insights of the Automotive Fasteners sector for 2020, 2021, and 2022. The Automotive Fasteners research report provides a comprehensive outlook of the market size and an industry growth forecast for 2023 to 2028. Available to download is a free sample file of the Automotive Fasteners report PDF.

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