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Global Industrial Fasteners Market Size, Share, Growth,
Opportunities, Analysis and Forecast 2023 - Credence Research
Report Description:
According to a new market report published by Credence Research,
Inc., “Industrial Fasteners Market (By Application (Original Equipment
Manufacturing, Construction, and Maintenance/Repair/Operation (MRO)),
By Product Type (Standard Fasteners (External Threaded, Internal
Threaded, and Non-Threaded), Aerospace-grade Fasteners, and Other
Application-specific Fasteners)) - Growth, Share, Opportunities, Competitive
Analysis, and Forecast 2016 – 2023”, the global industrial fasteners market
is expected to expand at a compound annual growth rate of 5.3% during the
forecast period 2016 – 2023, exceeding US$ 107.0 Bn by 2023.
Browse the full Industrial Fasteners Market - Growth, Share,
Opportunities, Competitive Analysis, and Forecast 2016 – 2023
report at http://www.credenceresearch.com/report/industrialfasteners-market
Product Insights
Fasteners are industrial products that are used to connect two or more
components together. Fasteners are also used to shut a container such as a
box, bag, or an envelope. Some of the commonly used industrial fasteners
include bolts, screws, rivets, clips, nuts, washers, and pins. The global
market for industrial fasteners is relatively matured and is expected to
witness steady growth during the forecast period 2016 – 2023. The growth
is expected to be spurred by steady growth in automotive production,
increasing industrial automation, and resurgence in the construction sector
post economic crisis.
Competitive Insights
The global industrial fasteners market is highly matured and fragmented.
The top four industrial fasteners manufacturers accounted for less than 45%
of the global market revenue in 2015. Precision Castparts Corporation (the
U.S.), Stanley Black & Decker Inc (the U.S.), Wilhelm Bollhoff GmbH & Co.
KG (Germany), and Nitto Seiko Co., Ltd. (Japan) are identified as the
leading industrial fasteners manufacturers. Other manufacturers including
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Alcoa Fastening Systems, Acument Global Technologies Inc., Illinois Tool
Works Inc., Finnveden Bulten AB, FabriSteel, MacLean-Fogg Company,
MNP Corp., Anixter International, LISI Group, Nucor Corp., Atlas Bolt &
Screw Company, The Marmon Group LLC, and TRW Automotive have been
marked as promising and emerging players in the industrial fasteners
market. The global industrial fasteners market being fragmented is
characterized by stiff competition with several small and large players
competing to maintain their market share. In developed economies, market
consolidation is a major trend as small players are merging operations with
established players to leverage their resources. Furthermore, the global
market for industrial fasteners is highly matured and has been marred by
lack of product differentiation. This has resulted in price wars among
manufacturers leading to profit crunching. Thus, focus on product
enhancement is the key strategy for manufacturers.
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Key Research Takeaways:
•Miniaturization drives demand for industrial microfasteners
•Heightened investments in aerospace and aviation projects, industrial
automation to spur demand for industrial fasteners
•Strong recuperation in automotive and construction sector is
sustaining growth in the developed economies.
•Increasing demand for high-value titanium fasteners in aerospace
applications and light weight plastic fasteners in automotives
•Budding applications in textile and healthcare sector
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E-mail: sales@credenceresearch.com Ph: 1-800-361-8290
Web: http://www.credenceresearch.com