Mechanical fasteners utilized in industrial purposes embrace a variety of merchandise, from bolts and screws to washers and clamps. Fasteners will not be solely utilized in industrial equipment, but in addition building, motor automobiles, and aerospace tools.
Hundreds of firms compete on this extremely fragmented world market, together with massive names like Stanley Black & Decker and Berkshire Hathaway.
North America and Western Europe will proceed to account for giant shares of the worldwide industrial fastener market, however the huge Chinese language market can be experiencing robust development.
Industrial Fastener Trade Statistics
Listed here are 5 key insights to know in regards to the $95 billion world industrial fasteners market, primarily based 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 because of elevated labor prices and different inflationary pressures.
- Regional tendencies: China and Taiwan will proceed main world 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 entire demand. Plastics made up 14%, whereas the remaining 11% was distributed amongst aluminum, copper-based, and different nonferrous metals.
- Prime industrial fastener firms: In 2022, the 5 largest world suppliers of commercial fasteners had been ITW, Stanley Black & Decker, Berkshire Hathaway, Nifco, and LISI.
For extra info, please see the world industrial fasteners business examine by The Freedonia Group, which incorporates skilled knowledge associated to fasteners market sizing, forecasts, regional tendencies, firm market share, and different precious info to help strategic decision-making.
About The Freedonia Group
The Freedonia Group, a division of MarketResearch.com, is a premier worldwide enterprise analysis firm, offering purchasers with product analyses, market forecasts, business tendencies, and market share info. From one-person consulting corporations to world conglomerates, our analysts present firms with unbiased, dependable business market analysis and evaluation to assist them make necessary enterprise choices.
