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World Industrial Fasteners Market

  • November 2014
  • 502 pages
  • Freedonia
Report ID: 1008679

Summary

Table of Contents

World demand to rise 5.4% annually through 2018

Worldwide demand for industrial fasteners is forecast to climb 5.4 percent annually through 2018 to $93.8 billion, accelerating from the 2008-2013 pace. Increases in motor vehicle, machinery, and other durable goods production will all support growth in fastener markets as the global economy expands and fixed investment expenditures rise. In addition, product prices will climb at a faster pace than during the 2008-2013 period, boosting demand in value terms.

Developing areas to outpace demand in developed regions

Industrial fastener market gains are expected to be strong in both developing and developed regions through 2018. However, advances in developing areas -- including the Asia/Pacific and Africa/ Mideast regions, Central and South America, and Eastern Europe -- will outpace demand in the US, Western Europe, and Japan. Sales gains will be
driven by healthy economic growth and ongoing industrialization efforts in most developing nations, resulting in higher manufacturing output and fixed investment spending. Rising living standards in these areas will help fuel demand for motor vehicles and other fastenercontaining durable goods, boosting both original equipment manufacturing (OEM) and aftermarket fastener sales. Although market growth in developed countries will not be as strong as those forecast for industrializing regions, it will represent a significant improvement over sales performance during the 2008-2013 period. Rebounding levels of fixed investment, along with higher durable goods manufacturing output, will be a primary driver of fastener demand in the US, Western Europe, and Japan.

Motor vehicle OEM market to post largest value gains

Motor vehicle original equipment manufacturing, the biggest market for industrial fasteners, will post the largest value gains through 2018. In addition, rising fixed investment spending and industry output will boost demand for fasteners used in machinery applications, the second largest market. Although it is comparatively small in absolute terms, the construction market will register the strongest increases in percentage terms through 2018, spurred by an acceleration in construction expenditures worldwide.

Internally threaded, nonthreaded fasteners to grow the fastest

Standard externally threaded fasteners accounted for half of industrial fastener sales in 2013 and will record the largest dollar gains through 2018, bolstered by continued strength in motor vehicle production and a pickup in overall durable goods manufacturing activity. However, the largest advances in percentage terms will be posted by standard internally threaded and nonthreaded fasteners, supported by an acceleration in construction spending growth and sustained increases in global aerospace equipment output.

Developing countries to see biggest gains in output

Developing areas of the world will record the biggest advances in fastener output through 2018. However, the US, Western Europe, and Japan will remain the largest suppliers of aerospace-grade fasteners due to their technological and marketing expertise, as well as greater availability of capital, skilled labor, and other factors of production.

Study coverage

This study, World Industrial Fasteners, presents historical demand data for 2003, 2008 and 2013 and forecasts for 2018 and 2023 by product, market, world region, and for 30 countries. The study also assesses market environment factors, details industry structure, evaluates company market share and profiles industry players worldwide.

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