The Future of the Automotive Fasteners Market Covered in a New Report

Automotive fasteners assume high significance owing to the increasingly complex nature of vehicular designs, which is expected to necessitate stronger, improved and durable fasteners. Technological improvements have played a critical role in transforming fasteners into multi-purpose highly engineered automotive components. New age cars demand economical and user-friendly fastening options that can replace mechanical fasteners and are also effective in holding together rubber, aluminum and plastic parts. In such a scenario, chemical fastening methods (including adhesives) and 'snap-fit' or self-securing fastening solutions are emerging as popular choices.

Inappropriate selection of fasteners can lead to high rate of vehicle recalls, and stepping up of warranty costs. Failure of fasteners has emerged as a leading contributor to the recall of vehicles in Europe and North America. However, advancements in the technological arena, new quality management methods, and improving production processes are expected to reduce fastener defects.

United States, Europe and Asia-Pacific lead the worldwide automotive fasteners market, as stated in a report by Global Industry Analysts, Inc. In United States, changing dynamics of automotive industry and quality of products are expected to influence growth prospects in the automotive fasteners market. Introduction of automated assembling processes in the production of automotive fasteners are expected to result in improvement of product quality. With regional players focusing on manufacture of highly engineered fasteners, production of standard fasteners has shifted to low cost offshore locations such as China, India and Taiwan. However, slowdown in the automotive industry and shift away from larger models are factors that are expected to adversely affect performance of the automotive fasteners market.

In an extremely competitive marketplace that is influenced by changing dynamics of automotive industry, survival of automotive fastener suppliers depends on factors such as technological improvements, diversity of product offerings and pricing. Further, suppliers with global presence are expected to hold an edge over their competitors. Major players profiled in the report include A Raymond Group, Acument Global Technologies Inc, Emhart Fastening Teknologies, Finnveden Holding AB, Illinois Tool Works Inc., LISI Automotive, Kaminski Holdings Group, Koninklijke Nedschroef Holding N.V., NIFCO Inc., Rocknel Fastener Inc., SPS Technologies Inc., and TRW Engineered Fasteners & Components Selb GmbH

"Automotive Fasteners: A Global Strategic Business Report" published by Global Industry Analysts, Inc., provides a review of key market issues and trends, product introductions, and recent industry activity. Analysis is provided for the years 1996-2005 and 2006-2015 for established and emerging markets including the United States, Canada, France, Germany, Italy, United Kingdom, Spain, Russia, Asia-Pacific, Latin America, and Rest of World.

Tell Us What You Think

Do you have a review, update or anything you would like to add to this news story?

Leave your feedback
Your comment type