The global industrial fasteners market is estimated to record a substantial CAGR of 4.3% during the forecast period (2021-2027). The world is moving towards the use of renewable energy sources to reduce carbon emissions. Countries such as China, the US, Germany, and India are installing additional wind turbines to promote sustainability. Furthermore, in countries such as Brazil, Mexico, the UAE, and Saudi Arabia, investments and exploration in the oil & gas industry are gaining momentum. The demand for new employment opportunities in the construction industry is witnessing a surge with the onset of construction activities for the FIFA World Cup in 2022 in Qatar. These scenarios, along with a favorable macroeconomic environment, can fuel the growth of fasteners during the forecast period.
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Further, rising construction activities in residential, commercial and civic infrastructure sectors bode well for the industrial fasteners market. The rising population, which will require new housing units, will inevitably pave the demand for fasteners, both threaded and non-threaded. The global population is expected to reach 8.18 billion by 2025 as compared to 7.71 billion in 2019. By 2025, the world will have over 4.78 billion people with a median age of 32 years, which is expected to increase the demand for smaller apartments globally.
Market Coverage
- The market number available for – 2020-2027
- Base year- 2020
- Forecast period- 2021-2027
- Segment Covered- by Product Type, Material and End-user
- Regions Covered- North America, Europe, Asia-Pacific, Rest of the World
- Competitive Landscape- Berkshire Hathaway Inc.; Gruppo Fontana S.r.l.; Illinois Tool Works Inc.; NIFCO INC.; and Stanley Black & Decker, Inc.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How COVID-19 impacted the market?
- Recovery Timeline
- Deviation from the pre-COVID forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
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Global Industrial Fasteners Market Report Segment
By Product Type
- Threaded
- Non-threaded
- Specialty
By Material
- Metal
- Non-metal
By End-user
- Automotive
- Aerospace
- Construction
- Consumer Appliance and Furniture
- Industrial and Consumer Machinery
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
