The global industrial fasteners market is expected to reach USD 134.20 billion by 2025, according to a new report conducted by Grand View Research, Inc. The growing demand for automobiles, electronics appliances, aircraft, industrial machinery, and medical equipment will drive product demand over the upcoming years. Furthermore, increasing government spending on infrastructure and machinery sector is expected to aid in the market expansion.
The usage of industrial fasteners in maintenance, repair, and overhaul (MRO) industry will foresee substantial revenue growth at a CAGR of 5.3% from 2016 to 2025. Rising MRO activities in various sectors including automotive, aerospace, electronics, construction, and electrical will increase market size. The growing requirement for enhanced efficiency from machines is anticipated to fuel the need for MRO activities, which in turn is expected to spur the industrial fastener demand over the upcoming years.
View summary of this report @ http://www.grandviewresearch.com/industry-analysis/industrial-fasteners-market
Further key findings from the report suggest:
·
The industrial fasteners industry is projected
to grow significantly at a CAGR of 5.7% on account of their increasing
application in automotive and construction industries in emerging countries
such as China, India, South Korea, Brazil, Thailand and Saudi Arabia
·
North America accounted for 20.9% of the global
revenue share in 2015 and is projected to show growth on account of rising
usage of the product in the aerospace and automotive sectors over the upcoming
years. Moreover, the presence of the large automotive manufacturers, such as
Chrysler, Dodge, Jeep, Ford, Chevrolet, Buick, Cadillac, and Lincoln, will
drive demand over the forecast period.
·
Other standard fasteners are expected to witness
considerable revenue growth at a CAGR of 5.4% from 2016 to 2025 owing to
increasing usage in various applications including medical equipment,
electronics, industrial controls, furniture, and appliances
·
Machinery OEM application is anticipated to show
substantial growth over the upcoming years in light of increasing fastener
usage in textile machinery, rubber, sugar machinery, metallurgical equipment,
cement machinery, and dairy machinery. The market is estimated to be worth USD
24.69 billion by 2025
·
The industry is highly fragmented and
competitive in nature with small and large scale manufacturers in the U.S.,
China, Japan, Germany, and India. Dominant players include Nifco, ITW, LISI
Group, Alcoa and Precision Castparts Corporation.
·
In October 2016, ATF went into licensing
agreements with EJOT for FDS, DELTA PT, FLOWpoint, and SHEETtracs. This deal is
expected to help the company in providing high-performance light-weighting
solutions.
Read our blog on industrial fasteners market: http://www.grandviewresearch.com/blog/Industrial-fasteners-market-size-trends
Grand View Research has segmented the global industrial fasteners market on the basis of product, application and region:
Product Outlook (Revenue, USD Million; 2014-2025)
·
Externally threaded
·
Aerospace grade
·
Other standard fasteners
Application Outlook (Revenue, USD Million; 2014-2025)
·
Automotive OEM
·
Machinery OEM
·
Other OEM
·
MRO
·
Construction
Regional Outlook (Revenue, USD Million; 2014-2025)
·
North America
o
U.S.
·
Europe
o
Germany
·
Asia Pacific
o
China
o
India
o
Thailand
o
Japan
o
South Korea
·
Central & South America
o
Brazil
·
MEA
About Grand View
Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals,
materials, healthcare and energy.
For More Information Visit - http://www.grandviewresearch.com/
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