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Global Industrial Fasteners Market – Industry Analysis and Forecast (2018-2026) – By Raw Material, Product, Application and Region.

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jaya rathod
Global Industrial Fasteners Market – Industry Analysis and Forecast (2018-2026) – By Raw Material, Product, Application and Region.

Global Industrial Fasteners Market was valued US$ 81.60 Bn in 2017 and is expected to reach 105.30 Bn by 2026, at a CAGR of 3.24 % during a forecast period.

Fasteners are commonly used to join the different parts of items by using nuts and bolts, washers, screws, clips, clamps and other products.

Increasing demand for fasteners in the automotive industry, coupled with a rise in construction and manufacturing expenditure in emerging countries like China, and India, is projected to increase the demand for industrial fasteners.

These fasteners provide exceptional mechanical strength and impact resistance, in heavy-duty applications like industrial machinery, and construction equipment.

The automotive sector is expected to dominate the global industrial fasteners market.

The growth is attributed to increasing the production of medium commercial vehicles, light commercial vehicles, heavy earth moving equipment, textile machinery, machine tools, aircraft, and utility vehicles.

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