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SOURCE: Global Industry Analysts, Inc.
GIA announces the release of a comprehensive global report on Industrial Fasteners markets. The global market for Industrial Fasteners is forecast to reach US$81 billion by the year 2018. Key factors fuelling market growth include revival in motor vehicle production, increased demand from developing regions, and potential growth in construction, electrical and electronic, and aerospace sectors. Fasteners are also in high demand in the manufacture of electrical oriented products, such as lightening and wiring devices, home appliances, and construction equipment.
San Jose, California (PRWEB) November 15, 2012
Follow us on LinkedIn – The global industrial fastener market staged a dramatic comeback post the dismal market conditions prevalent during the global economic crisis. Burgeoning demand for durable goods and a strong rebound in the motor vehicle output are anticipated to fuel growth at a fast pace in the global industrial fasteners market. Significantly, a major portion of this sales growth would be surfacing out of emerging markets located in the Asia-Pacific region, especially China. Continuous increase in motor vehicle production provided industrial fastener manufacturers with new sales opportunities in countries such as China, which emerged as the largest manufacturer of motor vehicles in 2009.
Fastener production in China is projected to surpass domestic demand in the next couple of years. Despite the fact that manufacturers in the US produced more fasteners in terms of value in 2009, Chinese suppliers would be able to surpass US record production levels, thereby becoming the leading manufacturers of fasteners in the world. However, manufacturers based in developed regions including Japan, Western Europe and the US would continue lead the production scenario for superior and highly-engineered fasteners. Nonetheless, Chinese manufacturers, in an attempt to remain competitive, are narrowing down the technological gap by acquiring technological and manufacturing expertise, and improving their accessibility to capital. Thus, by far, growth in demand for industrial fasteners in developed regions such as Japan, Western Europe and the US has been considerably slower compared to advances in the developing nations. Strong recuperation in motor vehicle and durable goods demand and output would sustain growth in the developed nations.
Heightened fixed investments and rise in number of manufacturing bases have boosted fastener demand from the emerging economies compared to the more developed markets. Subsequently, rapid sales growth in Asia/Pacific, Latin America, Middle East/Africa and Eastern Europe is expected to outpace demand in China, Japan, Europe and the US. Increased number of manufacturing activities, investments and developments in the direction of becoming an economic superpower, China is anticipated to register largest gains compared to any national market in the world. Further, favorable economic climate and rising income levels leading to increase in demand for durable goods would drive growth in Russia, India, Thailand and Taiwan. Irrespective of the fact that emerging economies would grow at a fast pace, developed economies such as Western Europe, the US, Japan and Canada would continue to lead the market in terms of number of intensive users for fastening products, revealing the technological and industrially advanced nature of these countries.
As stated by the new market research report on Industrial Fasteners, Asia-Pacific represents the largest and fastest growing regional market worldwide, growing at a compounded annual rate of 10.5% over the analysis period. Tremendous growth in the Asia-Pacific market can be attributed to China. China is the leading producer and exporter of industrial fasteners in the world. Increased production of motor vehicles, industrial machinery, and electrical and electronic components and renovation of infrastructure provided ample opportunities for growth of Industrial Fasteners market in China. Government investments in commercial and military aircraft and impending aerospace projects such as solar research, aerospace shuttles and scientific recoverable satellites, have added to the growth in demand for aerospace fasteners. Restrictions on Chinese fastener imports have popularized Industrial Fasteners from Taiwan in the global market.
Bolts represent the largest product segment in the industrial fasteners market. Growing demand for specialized aircraft products and renovations, upgrades, add-ons of existing houses, apartment complexes, and other buildings are major factors propelling growth in this product category. Non-threaded standard and high performance fasteners are forecast to experience the highest demand in the next few years. High performance fasteners are likely to derive demand from new car and automotive applications. Aerospace and automotive would continue to generate bulk of the industrial fastener demand. Fasteners used in electronic products, along with plastic fasteners and high-performance and high-end specialty designs, are expected to have fastest growth rates. Screws constitute the second largest product category in the global industrial fastener market.
The highly fragmented industrial fasteners market is characterized by aggressive competition with several large and small players competing to maintain their respective market positions. In various regions, industry consolidation was a predominant trend as small players merged operations with larger prominent players to leverage their resources. Key players profiled in the report include Acument Global Technologies Inc., Alcoa Fastening Systems, FabriSteel, Finnveden Bulten Ab, Illinois Tool Works Inc., Anixter International, LISI Group, MacLean-Fogg Company, MNP Corp., Nitto Seiko Co., Ltd., Nucor Corp., Sundram Fasteners Limited, The Marmon Group LLC, Atlas Bolt & Screw Company, and TRW Automotive, among others.
The research report titled “Industrial Fasteners: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive market overview, impact of recession, current market trends, key growth drivers, recent industry activity, and profiles of major/niche global market participants. The report provides annual sales estimates and projections for the years 2010 through 2018 in value (US$) for geographic markets including the US, Canada, Japan, Europe, Asia-Pacific, Latin America and Rest of World. Key product segments analyzed include Bolts, Nuts, Screws, Rivets/Washers and Others. Key end-use sectors analyzed include Automotive, Aerospace, Construction, Mechanical Engineering and Others. The study also provides historic data for an insight into market evolution over the period 2004 through 2009.
For more details about this comprehensive market research report, please visit –
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
Global Industry Analysts, Inc.
Web Site: http://www.StrategyR.com/
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