Albany, New York (PRWEB) September 02, 2013
Transparency Market Research published new market report “Industrial Fasteners Market (Externally Threaded, Aerospace Grade and Standard) for Automotive OEM, Machinery OEM, MRO and Construction Applications – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012 – 2018,” the global demand for industrial fasteners was valued at USD 65.50 billion in 2011 and is expected to reach USD 94.65 billion in 2018, growing at a CAGR of 5.4% from 2012 to 2018.
Browse the full report with TOC at http://www.transparencymarketresearch.com/industrial-fasteners-market.html
Fasteners form a vital part of any structure as they help in joining two or more components together. Economic development in countries such as China, Brazil and India has led to a rise in disposable income of consumers which in turn has resulted in growing demand for automobiles. This factor is expected to be one of the primary reasons driving the growth of the market. In addition, rise in construction and maintenance activities all across the world is expected to be an important factor which will boost the demand for fasteners over the forecast period. However, imposition of high anti-dumping duties by the European Union is expected to hamper growth of the fasteners market. Development of fasteners which are customized for niche application segments such as railways and solar equipment is expected to open opportunities for the growth of the market within the forecast period.
Externally threaded industrial fastener was the largest product segment, accounting for over USD 25 billion in 2011. This product segment is expected to show the fastest growth in the near future on account of rapid industrialization and rising demand for durable goods.
Other OEM segments such as electronic and electrical, fabricated metal products and aerospace equipments were the largest application segments of fasteners and accounted for over 30% of the demand in 2011. However, demand for fasteners is expected to be highest from construction on account of the rising construction and maintenance activities worldwide. The construction application segment is expected to grow at a CAGR of over 9% from 2012 to 2018. Automotive OEM sector is expected to show above average Transparency Market Researchgrowth within the forecast period.
Asia Pacific accounted for the highest demand for industrial fasteners in 2012 and is expected to account for over 45% of the market by 2018. The trend is expected to continue over the next six years due to factors such as rapid industrialization and favorable economic conditions, which is expected to boost the demand for durable goods and other manufacturing and development activities.
Key participants in the industrial fasteners market include Alcoa Incorporated, Illinois Tool Works Incorporated, LISI Group, NIFCO and Precision Castparts Corporation among others. The report profiles the above mentioned companies along with a detailed market share analysis.
The report gives a comprehensive view of the industrial fasteners market in terms of revenue. In addition, the report includes demand forecast for each product segment and application in North America, Europe, Asia Pacific and Rest of the World.
Rising construction and maintenance activities worldwide is one of the primary reasons driving the growth of fasteners market. Fasteners are devices made from metals or plastics that are used to join two or more objects together. Fasteners are typically used in applications such as automobiles, construction, industrial machineries and durable goods.
The report gives a detailed analysis of the industrial fasteners market on a global and regional level. On a global as well as regional level, the market has been analyzed and forecast based on revenues (USD Billion) for a period ranging from 2012 to 2018.
The study includes drivers and restraints of the industrial fasteners market and their impact on the growth of the market. In addition, the study takes into account opportunities available for the market on a global and regional level and its effect within the forecast period. For an in-depth understanding of the market, a detailed analysis of the value chain has been included. Furthermore, we have included a detailed analysis of the Porter’s five force model which would help in understanding the degree of competition present in the market. Moreover, the study comprises of a market attractiveness analysis, based on the applications of the market, where the applications are benchmarked on their market size, growth rate and general attractiveness.