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(Transportation-News.com, January 31, 2019 )
Stratview Research announces the launch of a new research report on Automotive Fastener Market by Product Type (Threaded Fastener and Non-Threaded Fastener), by Characteristic Type (Removable Fastener, Permanent Fastener, and Semi-Permanent Fastener), by Fastener Type (Bolts, Screws, Nuts, Rivets, and Others), by Material Type (Stainless Steel, Plastic, Aluminum, Iron, Bronze, Brass, and Nickel), by Coating Type (Zinc Coating, Passive Coating, Cadmium Coating, and Dry Film Lube Coating), by Vehicle Type (Passenger Car, Light Commercial Vehicle, and Medium & Heavy Commercial Vehicle), by Application Type (Engine, Chassis, Interior Trim, Front/Rear Axle, Steering, Transmission, and Other), by End-User Type (OEM and Aftermarket), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2019-2024
The Automotive Fastener Market: Highlights
Fasteners are used in a wide array of applications out of whcih the automotive industry is undoubtedly one of the largest segments. The market for fasteners in the automotive industry seems resilient and is likely to witness a healthy CAGR of 3.2% during the forecast period. Increasing automobile production across regions, especially in Asia-Pacific and Eastern Europe and increasing demand for electric and alternative powertrain vehicles are the major driving factors of the fasteners market in the automotive industry.
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Apart from the organic growth of automobile production, there are several other factors contributing to the growth of the fasteners market in the automotive industry. One of the key factors is the introduction of stringent regulations, such as CAFÉ Standards and EU’s Carbon Emission Reduction Targets, which are compelling automakers to incorporate lightweight materials in order to enhance the fuel efficiency. Fastener companies could not get escaped from this and started facing enormous pressure for reducing the weight of fasteners. They are unraveling the challenges by developing lightweight plastic and aluminum fasteners for a wide array of auto applications.
Based on the characteristic type, the automotive fasteners market is segmented as removable fastener, permanent fastener, and semi-permanent fastener. Removable fasteners lead the fasteners market in the automotive industry and are expected to maintain its leading position in the foreseen future. Removable fasteners contribute the maximum in the total number of fasteners used in an automobile as they can be conveniently removed by hand or power tools without causing any damage to part or fastener itself.
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Source: EmailWire.Com 
Source: EmailWire.com
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