Automotive Fasteners Global Market Report 2024

The automotive fasteners market size has grown steadily in recent years. It will grow from $27.74 billion in 2023 to $28.65 billion in 2024 at a compound annual growth rate (CAGR) of 3.3%. During the historical period, growth can be attributed to several factors, including a rise in automobile production, heightened demand for commercial vehicles, and robust economic expansion in emerging markets.

The automotive fasteners market size is expected to see steady growth in the next few years. It will grow to $31.81 billion in 2028 at a compound annual growth rate (CAGR) of 2.7%. Forecasted growth is propelled by increased demand for electric vehicles and favorable government regulations. Major trends include the launch of self-clinching fasteners, technological advancements, lightweight carbon fiber fasteners, innovative product introductions, and strategic partnerships.

The surge in demand for electric vehicles is poised to drive the growth of the automotive fasteners market in the foreseeable future. Electric vehicles, which rely partially or fully on electricity for power, necessitate high-quality fasteners for various components such as EV general infrastructure equipment and battery casings, ensuring robust security settings. According to a study by Bloomberg New Energy Finance (BNEF), electric vehicles are projected to represent 10% of global passenger vehicle sales by 2025, increasing to 28% in 2030 and reaching 56% by 2040. This substantial rise in the adoption of electric vehicles is anticipated to be a significant catalyst for the growth of the automotive fasteners market.

The automotive fasteners market faces challenges due to the escalating costs of raw materials during the forecast period. Automotive fasteners are typically crafted from materials such as iron, steel, aluminum, and brass. The upswing in the prices of these metals is exerting a negative impact on market growth. Managing price fluctuations poses an ongoing challenge for various companies across the supply chain, including producers and distributors. For instance, in March 2022, iron ore prices reportedly increased by INR 400 ($4.90) per ton, reaching INR 6,000 ($73.44) per ton, with fines prices also experiencing a hike to INR 4,960 ($60.71) from INR 4,560 ($55.81) per ton, according to Business Today, an Indian business magazine. Furthermore, in November 2022, Capital.com, a UK-based online trading platform, forecasted aluminum prices to trade in the range of $2,000 to $2,500 per ton in the fourth quarter of 2022. The escalating costs of raw materials are anticipated to act as a hindrance to the growth of the automotive fasteners market.

Companies operating in the market are actively engaged in the introduction of new and innovative products as part of their strategy to enhance their product offerings and maintain competitiveness. In July 2022, Henkel, a Germany-based chemical and consumer goods company, unveiled a new product named Loctite DRI 2250-W. This product, categorized as a medium to high-strength pre-applied thread locker, is designed for use in high-speed and sustainable automotive applications. It stands out with attributes such as high-speed throughput, high-temperature resistance, and sustainability advantages arising from its water-based composition.

Automotive fastener companies are strategically forming partnerships and collaborations to strengthen their market positions. For instance, in October 2022, Ascend Performance Materials, a US-based manufacturer specializing in high-performance materials, collaborated with ITW Global Fasteners, a Germany-based automotive fasteners manufacturer. Through this partnership, ITW and Ascend aimed to implement blockchain traceability for producing fasteners with a substantially reduced carbon footprint. Furthermore, in September 2021, Goebel GmbH, a Germany-based fasteners company, entered into a partnership with Tower Fasteners EU Ltd., an Ireland-based company providing fasteners manufacturing, distribution, engineering design, inventory management, quality control, and other services. This collaboration focused on the distribution of Goebel GmbH's blind fastening product lines, over-center latches, the new G-Grip Stainless Lockbolt System, and various other product lines throughout Ireland.

In November 2021, Frontenac, a US-based private equity firm, acquired EFC International for an undisclosed sum. Through this acquisition, Frontenac plans to implement its strategic initiatives, work closely with EFC International's team to accelerate growth, and make a significant industrial distribution investment. EFC International, also based in the US, specializes in providing specialty-engineered fastener parts, including clamps, panel fasteners, specialty nuts, and other related components.

Major companies operating in the automotive fasteners market report are Illinois Tool Works Inc., KAMAX Holding GmbH & Co. KG, Lisi S.A., Stanley Black & Decker, Bulten AB, Nifco Inc., PennEngineering, Sundram Fasteners Limited, The SFS Group AG, Agrati, KOVA Fasteners Pvt. Ltd., Deepak Fasteners Limited (DFL), TorqBolt Inc., Jyoti Engineering (Jyoti), Boltport Fasteners (BPF), Kaloti Group of Companies, Ananka Fasteners Manufacturers, Caliber Enterprises (India), Yijin Hardware Co., Ltd., Shanghai Jianxin Hardware Co., Ltd., Jiaxing Qimu Trading Co., Ltd., Handan Zhongpin Fasteners Manufacturing Co., Ltd., Tianjin Fine Fasteners Co., Ltd., Tucker GmbH, Keller & Kalmbach GmbH, GWR Fasteners Limited, Kebrell Nuts & Bolts Ltd., FASTENEX, S.L., Rivit s.r.l., Bontempi Vibo, TR VIC Italy, Fiera srl, Zavod Signal, Ideal-Plast LLC, LitPromGarant –NN LLC, Proftruba LLC, Coba Automotive Rus LLC, Spring Alians LLC, Ural Spring Plant, Nedschroef, Zwick Roell Group, Belenus of Brazil S / A, METALAC, Fastener SRL, BULONERA BAF SRL, AI-Rashed Fasteners, Prince Fasteners Manufacturing Co Ltd., Petrofast Middle East FZC, Asia Bolts Industries LLC, EJOT Middle East, TripleFast Middle East, Kuban Karare, Phillips screw company, Westfield Fasteners Limited.

Asia-Pacific was the largest region in the automotive fasteners market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive fasteners market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the automotive fasteners market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

The primary types of automotive fasteners include threaded and non-threaded variants. Threaded fasteners such as nuts, bolts, and screws play a crucial role in holding automotive components together. These fasteners are crafted from various materials such as iron, steel, aluminum, brass, plastic, and others. They find applications across different types of engines categorized by propulsion, including IC engine vehicles, electric vehicles, and hybrid/alternative fuel vehicles. Automotive fasteners are utilized in various components such as engines, chassis, transmission, steering, front/rear axle, interior trim, among others.

The automotive fasteners market research report is one of a series of new reports that provides automotive fasteners market statistics, including automotive fasteners industry global market size, regional shares, competitors with an automotive fasteners market share, detailed automotive fasteners market segments, market trends and opportunities, and any further data you may need to thrive in the automotive fasteners industry. These automotive fasteners market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.


The automotive fasteners market consists of sales of nuts, washers, concrete anchors, threaded rods, bolt, rivets, screws, and retaining rings. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.