Industrial Fasteners Market Analysis By Regions (North America,
Europe, Asia-Pacific, Latin America and Africa), Product, Size, Share, Trends,
Growth Factors, Revenue By Application And Segment Forecasts To 2027.
Global Industrial Fasteners Market
is expected to grow at a significant CAGR during the forecast period.
Industrial fasteners include a set of bolts and nuts and are used in all
production activities. Bolts and nuts comprise a major link in industrial
fasteners and are used in all industrial domains. Mainly, steel is used in the
production of physical products made from wood and metal. Industrial uses of
bolts and nuts entail fastening wherein placement of pieces and parts is
essential.
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The commercial demand for nuts
and bolts is gaining much traction as the industrial need is on the rise. With
the constant rise in annual imports, there arises a need for establishing a
manufacturing base. Rise in transportation, railways, aircrafts, wagon,
bicycles and automotive makers are several components operating in industrial
fasteners.
The drivers for industrial
fasteners market include rise in use of automotive, machinery, and electronics.
Apart, industrial fasteners are used in the production of medical equipment,
consumer appliances, suspension system and wheels. Increase in urbanization and
rise in construction sector is likely to propel the industrial fastener market
growth during the forecast period.
Geographical segmentation
includes North America, South America, Europe, Asia-Pacific, Middle East and
Africa. Asia-Pacific regions are likely to gain much higher traction in the
global period. Rise in OEM is another factor stimulating the market growth.
Presence of a vast industrial corridor and end-user market is likely to trigger
the market growth during the forecast period.
North American and European
markets are expected to gain a significant CAGR during the forecast period due
to increase in construction activities and mounting demand for industrial
fasteners. The key players in the industrial fasteners market include Precision
Castparts Corp, Nifco, ITW, Alcoa, Kova Fasteners Pvt Ltd, LISI Group, Standard
Fasteners, and Dokka Fasteners.
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