The Industrial Fasteners Market: Outlook on the Global and Indian Industry (2018-2023) - ResearchAndMarkets.com

The "Industrial Fasteners Market Global and India 2018-2023" report has been added to ResearchAndMarkets.com's offering.

The global market is expected to reach a value of INR 7,706 billion by 2023, expanding at a CAGR of ~6.5% from 2018.

Rising demand for fasteners in the automotive industry, coupled with an increase in construction and manufacturing spending in emerging countries like China, Brazil, Saudi Arabia, Australia, Indonesia and India, is expected to drive the demand for industrial fasteners during the forecast period.

Asia-Pacific was the largest market for fasteners in 2017, accounting for a major share of the fasteners manufactured globally. The major reason for this growth can be attributed to the increasing number of construction activities and growing automobile manufacturing in countries like China and India.

Europe is one of the largest markets for industrial fasteners apart from being the second largest industrial fasteners manufacturing region in the world. However, lack of product differentiation and elasticity of prices of raw materials such as alloys, stainless steel and copper are hindering the growth of the market.

Precision Castparts Corporation, Stanley Black & Decker Inc., Wilhelm Bllhoff GmbH & Co. KG and Nitto Seiko Co. Limited, are the top four industrial fasteners manufacturing companies.

India Industrial Fasteners Market

Owing to its application in diverse sectors, a wide range of fasteners are manufactured in the Indian market, which include exhaust bolts, balance wheel bolts, standard hexagon screws/bolts, socket head cap screws, socket shoulder screws, weld nuts, square nuts, hexagon nuts, self-tapping screws and others. With help from the Indian government's 'Make in India' initiative, the Indian manufacturing sector is expected to generate huge demand for the industrial fasteners market.

Fastener companies usually sell their products in India through various distribution channels- distributors, direct dealers, online channels and industrial events. De-licensing of the industry is facilitating the entry of major global manufacturers in the Indian market. The majority of fasteners that were imported by India in FY 2018 was other screws and bolts, whether or not with their nuts or washers followed by other non-threaded articles and threaded nuts.

Market Segmentation

The Indian industrial fasteners market is segmented on the basis of application, product type and the organization of the market. The Indian automotive sector is expected to be the largest consumer of industrial fasteners, accounting for a major share of the market by 2023. This will be because of owing to increased automotive manufacturing in the country. It is followed by the construction and the engineering sector.

High-tensile fasteners are mainly used in the construction and engineering sector, whereas mild steel fasteners are used in manufacturing automobiles. Currently, there has been a shift in preference of manufacturing fasteners by using stainless steel, iron, brass, aluminium, nickel and plastics and composites.

Growth Factors

• Increasing sale of automobiles in India is significantly driving the growth of the auto ancillary market in the country, including automobile sector-specific fasteners.
• Growing usage of fasteners for manufacturing automotive parts such as engines, chassis, moulding, suspension system and wheels among others, is expected to drive the growth of the Indian industrial fasteners market during the forecast period.

Threats

• Spurious and low quality fastener affect longevity adversely, and may result in accidents with catastrophic consequences
• The price of steel in India is influenced by demand-supply forces and international prices. The increasing prices of raw materials like these, which are used in the manufacture of industrial fasteners, reduce profitability.

Topics Covered

Chapter 1. Executive Summary

Chapter 2. Socio-Economic Indicators

Chapter 3. Introduction

Chapter 4. Global Industrial Fasteners Market

Chapter 5. Global Industrial Fasteners Market Segmentation

Chapter 6. Key Growth Drivers of the Market

Chapter 7. Key Deterrents to the Growth of the Market

Chapter 8. India Industrial Fasteners Market

Chapter 9. India Industrial Fasteners Market Segmentation

Chapter 10. Manufacturing Process - Overview

Chapter 11. Major Manufacturing Clusters - Overview

Chapter 12. Trade Analysis

Chapter 13. Key Growth Drivers of the Market

Chapter 14. Key Deterrents to the Growth of the Market

Chapter 15. Competitive Landscape

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