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Industrial Fasteners Market

Industrial Fasteners Market

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Industrial Fasteners Market

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  1. "Connecting Industries: The Global Industrial Fasteners Market" The global industrial fasteners market has reached a valuation of US$ 102.8 billion in 2022 and is forecasted to progress at a steady CAGR of 5.1% to reach US$ 168.7 billion by the end of 2032.Industrial fasteners generally refer to top-quality fastening products that act as glue to hold various parts firmly together in different industries. Various industries ranging from transportation and construction to aerospace require fasteners. Governments across the world are spending heavily on building and updating their aerospace & defense facilities. Due to the rising demand from the transportation sector, particularly the automobile and railroad sectors, the market for industrial fasteners is expected to expand significantly. The automotive industry offers a diverse range of application scenarios, and each car uses between 50 and 90 kg of fasteners on average. Download Sample Copy of This Report – https://www.factmr.com/connectus/sample?flag=S&rep_id=5679?PJ To create specifically adapted vehicle fasteners, several automakers are collaborating with coating and fastener producers. For instance, Greeknote, a leading manufacturer of anti-corrosion coatings, has created G5K, which provides coating performance for at least 5,000 hours and eliminates the issue of hydrogen embrittlement on fasteners. The automotive industry has experienced steady demand from emerging markets. Large oil & gas producing nations such as Russia and the U.S. have been constantly undertaking the cyclical maintenance of their refineries to produce highly marketable oil & gas products.  Short Term (2022 Q2 to 2025): Growing transportation, power generation, and automobile industries will positively impact industrial fasteners market growth. Medium Term (2025-2028): China and the U.S. are projected to witness comparatively higher demand for industrial fasteners due to their large construction and automobile industries. Long Term (2028-2032): Automation, as a result of Industry 4.0, will lead to some modifications in fasteners so that they can be adapted to end-use industries. Upgraded features such as compact size, vast work envelopes, high speed, accuracy.   From 2017 to 2021, the global market for industrial fasteners registered a CAGR of 2.1%. Fact.MR, a market research and competitive intelligence provider, predicts that the market will exhibit growth at 5.1% CAGR between 2022 and 2032. Key Takeaways from Market Study  The global industrial fasteners market is projected to grow 1.6X and reach US$ 168.7 billion by 2032. Between 2017 and 2021, the market exhibited 2.1% CAGR. Under product type, bolts dominate the market with US$ 20.1 billion valuation in 2022. The transportation segment is currently valued at US$ 23.1 billion. Europe leads the global market with 26.9% share in 2021.     Segmentation of Industrial Fasteners Industry Research

  2. By Material : oMetal         Steel Stainless Steel Alloy Steel Copper & its Alloys Aluminum Titanium Nickel & its Alloys Others oPolymer By Type : oScrews         Wood Screws Machine Screws Thread Cutting Machine Screws Sheet Metal Screws Self-Drilling Socket Screws Others oNuts          Hexagon Nuts Flange Nuts Wing Nuts Kep Nuts Push Nuts Castle Nuts Coupling Nuts Pal Nuts Others oBolts              Track Bolts Square Bolts Plow Bolts Round Bolts Lag Bolts Aircraft Bolts J-Bolts U-Bolts Shoulder Bolts Elevator Bolts HR Bolts HV Bolts Others oWashers    Lock Washers Structural Washers Others oAnchors oDowel Pins By Application : 

  3. oChemical Industry     oPetrochemical Industry  High Pressure Pumps & Vessels  Pumping Stations  Metering Pumps  Others oTransportation  Railways  Trains  Infrastructure  Marine  Decks  Tanks  Ramps  Bulkheads  Others  Automotive oPower Generation & Transmission  Renewable  Onshore Heat Exchangers Exhaust Systems Tanks and Vessels Processing Equipment oElectrical Equipment oTurbines oMotors oExhaust Systems oPumping Systems oStorage Vessels Offshore Non-renewable oConstruction  Precious Metal Mining  Industrial Metal Mining oMining oAgriculture oAerospace & Defense By Sales Channel : oOnline  Direct to Customer  Third-Party Online oOffline  Authorized Distributors  Garages & Workshops  Specialty Stores By Region : oNorth America oLatin America    

  4. oEurope oEast Asia oSouth Asia &Oceania oMiddle East & Africa Market Development The sales of different types of vehicles are also burgeoning. Industrial fasteners are used in several industries and they are of vital significance. Technological advancements in industrial fasteners that make them more durable, easy to use, and corrosion protective are making then highly preferred, creating consistency in demand. Key players are hinging their emphasis on targeted expansions, strategic collaborations, and product launches in the market to substantially increase their market presence. Market players are on acquisition sprees and are majorly focusing on improving their geographic presence in untapped markets.

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