GLOBAL AUTOMOTIVE FASTENER MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024 - 2031)

Key Developments

• In June 2022, Sundram Fasteners Limited is a manufacturer of high precision components for automotive market, invested US$ 48.43 million in developing fasteners and defense products over the next two years, aiming to boost its position in the automotive fasteners market
• In May 2022, Navitas Capital which is a venture capital firm, acquired MULTIFIX Group, a technical fastener supplier, to support its growth plans
• In April 2022, Bulten AB which is a manufacturer and distributor of fasteners to the automotive industry, secured a US$ 7.17 million contract to supply fasteners for a new European electric vehicle program
• In October 2021, Böllhoff Group which is a assembly and logistics solutions provider, acquired the HELICOIL trademark from Stanley Engineered Fastening to strengthen its presence in North America
• In October 2021, PennEngineering fastening solutions provider, expanded its operations by launching PEM in Tokyo, Japan, to improve its global reach
• In September 2021, Center Rock Capital Partners, LP's LINC Systems, LLC acquired Air-O Fasteners, boosting its footprint in the Western U.S.
• In September 2021, Stanley Black & Decker which is a manufacturer of industrial tools and household hardware, acquired Excel Industries for US$ 375 million in cash, enhancing its production capabilities

*Definition:

Automotive fastener market includes all types of fasteners that are used in automotive manufacturing and assembly. This includes nuts, bolts, screws, washers, rivets, cable ties, and clamps that hold together vehicle components both externally and internally. Fasteners are essential for securing automotive parts and assemblies during vehicle production as well as for vehicle maintenance and repairs. These provide the strength and durability required to hold vehicle parts in place over the lifetime of the vehicle.