Mechanical fasteners utilized in industrial functions embrace a variety of merchandise, from bolts and screws to washers and clamps. Fasteners usually are not solely utilized in industrial equipment, but in addition building, motor autos, and aerospace tools.
Hundreds of corporations compete on this extremely fragmented international market, together with huge names like Stanley Black & Decker and Berkshire Hathaway.
North America and Western Europe will proceed to account for big shares of the worldwide industrial fastener market, however the large Chinese language market can be experiencing sturdy development.
Industrial Fastener Trade Statistics
Listed below are 5 key insights to know concerning the $95 billion international industrial fasteners market, based mostly on analysis by The Freedonia Group:
- Market outlook: The worldwide industrial fasteners market is projected to extend at a compound annual development price of 4.7%, reaching a worth of $119 billion by 2027.
- Worth fluctuations: Worth will increase for industrial fasteners are anticipated to ease as the availability of supplies stabilizes, however costs will stay elevated as a result of elevated labor prices and different inflationary pressures.
- Regional tendencies: China and Taiwan will proceed main international manufacturing of commercial fasteners regardless of commerce restrictions.
- Materials sorts: In 2022, metal and chrome steel had been the dominant supplies, accounting for 75% of the whole demand. Plastics made up 14%, whereas the remaining 11% was distributed amongst aluminum, copper-based, and different nonferrous metals.
- Prime industrial fastener corporations: In 2022, the 5 largest international suppliers of commercial fasteners had been ITW, Stanley Black & Decker, Berkshire Hathaway, Nifco, and LISI.
For extra data, please see the international industrial fasteners business research by The Freedonia Group, which incorporates skilled information associated to fasteners market sizing, forecasts, regional tendencies, firm market share, and different precious data to assist strategic decision-making.
About The Freedonia Group
The Freedonia Group, a division of MarketResearch.com, is a premier worldwide enterprise analysis firm, offering shoppers with product analyses, market forecasts, business tendencies, and market share data. From one-person consulting companies to international conglomerates, our analysts present corporations with unbiased, dependable business market analysis and evaluation to assist them make necessary enterprise choices.
