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.
To request a
sample copy or view summary of this report, click the link below:
Further key findings from the study 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.
See More
Reports of This Category:
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, we offer market intelligence studies
ensuring relevant and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email:
sales@grandviewresearch.com
No comments:
Post a Comment