Automotive Fasteners Market Size to Touch $96.42 Bn by 2034

Automotive Fasteners Market Growth, Innovations and Market Size Forecast 2034

According to market projections, the automotive fasteners sector is expected to grow from USD 62.44 billion in 2024 to USD 96.42 billion by 2034, reflecting a CAGR of 4.44%. Automotive fasteners are essential components that hold vehicles together, ensuring safety and performance. From bolts and screws to clips and rivets, these small parts play a big role in keeping car parts secure, reliable, and functioning smoothly on the road.

Last Updated: 14 February 2025 Category: Automotive Technology Insight Code: 1077 Format: PDF / PPT / Excel

Senior Research Analyst

Dr. Arjun Patel

Reviewed By

Aditi Shivarkar

Automotive Fasteners Market Size, Share and Regional Developments

The automotive fasteners market is projected to reach USD 96.42 billion by 2034, expanding from USD 65.22 billion in 2025, at an annual growth rate of 4.44% during the forecast period from 2025 to 2034.

Automotive Fasteners Market Size 2023 to 2034

The automotive fasteners market is a vital component of the automotive industry, serving as the backbone for assembling various vehicle components. Fasteners are mechanical devices used to securely join two or more components together in vehicles. These components include body panels, engine parts, chassis components, interior trim, and various other parts. Fasteners play a crucial role in ensuring structural integrity, safety, and reliability in vehicles.

The market for automotive fasteners encompasses a wide range of products, including bolts, screws, nuts, rivets, clips, and pins. These fasteners are typically manufactured from materials such as steel, aluminum, brass, stainless steel, and nickel. They are further categorized based on factors such as size, thread type, head style, and coating.

One of the key drivers of growth in the global automotive fasteners market is the increasing demand for vehicles worldwide. As the automotive industry continues to expand, driven by factors such as rising disposable incomes, urbanization, and industrialization, the demand for fasteners is expected to witness significant growth. Moreover, technological advancements in vehicle design and manufacturing processes have led to the development of advanced fasteners that offer improved performance, durability, and corrosion resistance.

Consumer preferences for advanced automotive technologies, such as smart cars equipped with advanced sensors, electronic systems, and high-frequency signals, are also driving the demand for specialized fasteners. These fasteners are designed to securely install and integrate advanced components, thereby meeting the evolving needs of modern vehicles.

Another significant trend shaping the automotive fasteners market is the increasing adoption of electric vehicles (EVs). With growing concerns about environmental sustainability and climate change, there has been a surge in demand for electric and hybrid vehicles worldwide. This shift towards electrification has created new opportunities for fastener manufacturers, as EVs require specialized fasteners to accommodate unique design requirements and components.

However, the global automotive fasteners market has faced challenges due to the COVID-19 pandemic. The pandemic led to disruptions in supply chains, production halts, and decreased consumer demand, impacting the automotive industry as a whole. Nevertheless, the market has shown resilience and is expected to recover gradually as economic activities resume and consumer confidence returns.

Moving forward, the Asia-Pacific region is expected to dominate the global automotive fasteners market, driven by the presence of major automotive manufacturing hubs such as China, Japan, South Korea, and India. These countries are witnessing robust growth in vehicle production and sales, thereby driving the demand for automotive fasteners. Additionally, advancements in manufacturing technologies, increasing investments in research and development, and emphasis on product innovation are expected to further propel market growth in the coming years.

Vehicle Sales to Fuel Iron Fastener Demand

The global automotive industry is witnessing a steady growth trajectory, with projected auto sales expected to increase from an estimated 66.7 million vehicles in 2021 to approximately 67.2 million vehicles in 2022. Despite experiencing setbacks such as semiconductor shortages and supply chain disruptions exacerbated by the COVID-19 pandemic and the conflict in Ukraine, the industry is poised for recovery and growth in 2023.

A significant factor contributing to the resilience of the automotive sector is the increasing focus on electric vehicles (EVs) by governments worldwide. Many countries are implementing policies and incentives to promote the adoption of EVs, leading to a surge in nationwide vehicle production. This shift towards electric mobility is reshaping the automotive landscape and driving demand for innovative solutions, including fasteners, to support the manufacturing of EVs.

In this context, fastener manufacturers play a crucial role in ensuring the safety and reliability of automotive components. Collaborations with major automakers such as BMW, Volkswagen, Opel, and Fiat are essential for fastener manufacturers to meet stringent quality standards and deliver products that meet the rigorous requirements of the production process.

Among the various types of fasteners used in automobiles, nuts, washers, and bolts are the most common. Nuts, in particular, are integral threaded fasteners that play a vital role in securing and holding together various parts of a vehicle. They are often used in conjunction with bolts and washers to create strong and secure connections.

The demand for nuts is expected to witness significant growth in the forecast period until 2028, driven by increasing automobile production and the need for reliable fastening solutions. As the automotive industry continues to evolve, there is a growing emphasis on metal-to-metal connections, leading to a higher demand for removable fasteners. These fasteners offer flexibility and convenience during installation, allowing automakers to adjust and modify components to ensure a perfect fit.

The rising demand for automobiles presents lucrative opportunities for investors in the automotive fasteners market. As companies transition from standard fasteners to customized solutions to meet the evolving needs of the industry, there is a growing demand for innovative fastening solutions that offer enhanced performance, durability, and safety.

The automotive fasteners market is poised for robust growth driven by increasing vehicle production, the shift towards electric mobility, and the need for advanced fastening solutions. Collaborations with major automakers, technological advancements, and investments in R&D will play key roles in shaping the future of the automotive fasteners industry.

Asia-Pacific to Exhibit the Highest Growth Rate During the Forecast Period

Automotive Fasteners Market NA, EU, APAC, LA, MEA Share, 2024

The Asia Pacific region is poised to play a significant role in the automotive market, driven by a surge in vehicle sales across the region. The increasing demand for fuel-efficient vehicles in Asia Pacific is expected to fuel rapid growth, alongside a rise in aftermarket sales of vehicle fasteners, further boosting the automotive industry in the region.

Market expansion in Asia Pacific is also propelled by advancements in automobile manufacturing and the growing aftermarket sales of automotive fasteners. Key markets in the region, including Japan, China, and India, are witnessing substantial growth due to the presence of major automobile companies such as Toyota, Suzuki, Mahindra & Mahindra, Isuzu, Dongfeng, SAIC, and Tata Motors.

The Asia-Pacific region is witnessing a rising demand for high-speed transportation, driven by economic agglomeration. With almost all leading automakers and service providers based in the region, there is significant growth potential for new entrants as well.

India stands out as a major automobile exporter, with export volumes expected to see robust growth in the future, fueled by existing expansion potential. From April 2000 to September 2021, the automobile industry attracted approximately US$30.78 million in foreign direct investment, and the Indian government anticipates further investment of $810 million, both domestic and foreign, by 2023.

In terms of passenger car sales, the region witnessed a notable increase from 3,069,499 units in 2021-2022 to 2,711,457 units. While passenger car sales slightly decreased from 1,541,866 units to 1,467,056 units between April 2021 and March 2022, electric vehicle sales saw a significant rise from 1,060,750 units to 1,489,178 units during the same period. Notably, major Indian OEMs are placing potential orders for products, including fasteners, further driving market growth.

For instance,

  • In January 2023, Sundram, the largest manufacturer in Chennai, India, secured a six-year, $250 million order from an electric vehicle OEM, signaling the growing importance of fasteners in the automotive industry.

Moreover, government initiatives aimed at enhancing the utilization of fasteners and reducing vehicle weight are driving advancements in technology to produce durable and lightweight products. These factors collectively contribute to the overall development and growth of the Asia Pacific market during the forecast period.

Automotive Fasteners Industry Overview

The fast-moving vehicle market is predominantly led by key players such as Bossard Group, Stanley Black & Decker Inc., and KAMAX Holding GmbH & Co., among others. This market is highly competitive, characterized by the presence of numerous players vying for market share. Collectively, these companies command a significant portion of the market.

Entrepreneurs in this industry are constantly exploring avenues to expand their businesses globally and enhance their market presence. With the global demand for lighter vehicles on the rise, companies are increasingly focusing on the development of new products, particularly lightweight vehicle components. Strategic mergers and acquisitions are common strategies employed by companies to broaden their business horizons and gain a competitive edge.

For instance,

  • In March 2022, Birmingham Fastener & Supply Company Inc. completed the acquisition of Bolt Manufacturing, Inc. This strategic move aimed to bolster Birmingham Fastener's product portfolio and production capabilities, further solidifying its position in the market.

Automotive Fasteners Market Companies

Automotive Fasteners Market Leaders

  • Bulten AB
  • Shanghai Tianbao Fastener Manufacturing company Limited
  • Westfield Fasteners Limited
  • The Phillips Screw Company
  • KOVA Fasteners Private Limited
  • KAMAX Holding GmbH & Co. KG
  • LISI Group
  • Illinois Tool Works Inc.
  • The SFS Group AG
  • Nifco Inc.
  • Stanley Black & Decker Inc.
  • Indiana Automotive Fasteners Inc. (Aoyama Seisakusho Co., Ltd.)

Automotive Fasteners Market News

  • In September 2022, BultenAB and Polestar announced a collaborative effort aimed at developing a zero-emission electric vehicle slated for release by 2030. In this partnership, BultenAB will contribute its expertise in providing security-neutral and highly efficient fasteners. By leveraging BultenAB's capabilities, Polestar seeks to enhance the sustainability and performance of its electric vehicles, aligning with its commitment to environmentally friendly mobility solutions.
  • In April 2022, Birmingham Fasteners & Supply Company Inc. expanded its presence in the automotive industry by acquiring Champion Sales and Manufacturing, Inc., a prominent rubber gasket company based in Magnolia, Texas. Through this strategic acquisition, Birmingham Fastener & Supply Company Inc. aims to broaden its product offerings and strengthen its manufacturing capabilities in the Texas region. This move underscores the company's commitment to meeting the diverse needs of its customers while reinforcing its position as a leading supplier of fasteners and related products in the automotive sector.
  • In November 2022, Würth Group unveiled a new partnership with an electric vehicle manufacturer, signaling its entry into the burgeoning electric vehicle market. As part of this collaboration, Würth Group will provide specialized fasteners tailored for electric vehicle applications, thereby contributing to the advancement of sustainable transportation solutions. By harnessing its expertise in fastening technology, Würth Group aims to support the development and production of electric vehicles, ultimately driving innovation and progress in the automotive industry.
  • In June 2022, Fastenal Corporation announced the expansion of its product portfolio with the introduction of a new line of lightweight, high-strength fasteners. With a focus on meeting the increasing demand for materials that facilitate vehicle weight reduction and enhance fuel efficiency, Fastenal Corporation aims to address the evolving needs of the automotive market. By offering innovative connectivity solutions, the company seeks to support automotive manufacturers in their quest for sustainable and technologically advanced transportation solutions.

Automotive Fasteners Industry Segmentation

By Fastener Type

  • Threaded
  • Non-Threaded

By Vehicle Type

  • Commercial Vehicles
  • Passenger Cars

By Propulsion

  • IC Engine Vehicles
  • Electric Vehicles

By Function Type

  • Detachable
  • Non-Detachable

By Material Type

  • Iron
  • Steel
  • Aluminum
  • Brass
  • Plastic

By Geography

  • North America
    • United States
    • Canada
    • Rest of North America
  • Europe
    • Germany
    • United Kingdom
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Asia-Pacific
    • India
    • China
    • South Korea
    • Japan
    • Rest of Asia-Pacific
  • Latin America
    • Brazil
    • Rest of Latin America
  • Middle East and Africa
    • South Africa
    • Rest of the Middle East and Africa
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About The Author

Dr. Arjun Patel is a distinguished expert in the automotive industry, holding advanced degrees in Automotive Engineering and Mechanical Engineering. His expertise spans automotive market dynamics, technological advancements, and sustainable practices. Dr. Patel excels in conducting in depth research and analysis on market trends, consumer preferences, and the economic implications within the automotive sector. He is renowned for his insightful publications on topics such as electric vehicles, autonomous driving technologies, and the evolution of sustainable transportation solutions. Dr. Patels research contributions have significantly advanced understanding in the field, earning him recognition as a leading authority in automotive research and analysis.

FAQ's

Automotive fasteners are mechanical components used to join or secure parts and components within vehicles during manufacturing and assembly processes. They include a wide range of products such as bolts, screws, nuts, rivets, clips, and retainers, which are essential for ensuring structural integrity, safety, and reliability in automotive assemblies.

Automotive fasteners are available in various types and configurations to accommodate different assembly requirements and design specifications. Common types include hex bolts, flange nuts, self-tapping screws, threaded inserts, and spring clips. They may be made from materials such as steel, stainless steel, aluminum, and plastic, with properties tailored to specific applications and environmental conditions.

The automotive fasteners market offers a wide range of products and services to meet the diverse needs of automotive stakeholders. OEMs benefit from custom fastener solutions tailored to their vehicle designs and manufacturing processes, while aftermarket suppliers and service providers can access bulk procurement options, inventory management solutions, and technical support services to streamline operations and enhance customer satisfaction.

Demand for automotive fasteners is influenced by factors such as changes in vehicle design and architecture, lightweighting initiatives to improve fuel efficiency and reduce emissions, the transition to electric and hybrid vehicles, and the globalization of supply chains. Manufacturers respond to these trends by developing innovative fastener solutions, adopting advanced materials and manufacturing processes, and optimizing supply chain logistics to meet customer requirements and market demands.

When selecting automotive fasteners, manufacturers and suppliers should consider factors such as performance requirements (e.g., load-bearing capacity, corrosion resistance, vibration resistance), cost-effectiveness, compliance with industry standards and regulations (e.g., ISO, ASTM), and alignment with sustainability goals (e.g., recyclability, environmental impact). Choosing the right fastener solution ensures product quality, safety, and reliability throughout the vehicles lifecycle. Sources:

Stainless Automotive Fastenings, Westfield Fasteners Ltd., Ekoenergetyka, Fastener Links, Bolt Depot.

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