Industrial Fasteners Market surges up with the growth of Automotive sector and Internet of Things
Industrial fasteners are devices used to mechanically join two or more objects to produce efficient machine tools. Ancient Greeks from 3rd century AD have been accredited to invent the first screw. It was nearly the Bronze Age when this started. Later in around 10th century AD as record keeping improved, it was affirmed that screws and nuts & bolts were used by the military for large equipment. Soon, a variety of materials with added properties were invented which extended the scope of applications for fasteners. Also, the industrial revolution and the World War evolved this industry over the decades.
Now, in the 21st century, the industrial fastener industry has become highly specialized with indispensable use in medical, aerospace, construction, electronic, electrical and other machineries. The recent $1bn fastening systems deal, between Alcoa and Airbus, showcases the growth prospects in this market. This has been the biggest deal between the two companies to supply multi-material aerospace fastening systems for Airbus’s latest aircrafts.
The Industrial Fasteners Market is anticipated to propel due to an escalating demand of automotive and durable goods. The high growth of this market is hugely assigned to the emerging economies in the Asia- Pacific region. Though growth is expected from the developed regions of US, Europe and Japan, the increased industrialization in the emerging markets of China, India, and Brazil will outpace the overall growth of the developed region. US industrial fasteners manufacturers will continue to have a competitive edge over its highly–engineered high performance fasteners. With rapid growth of the Internet of Things and related devices, the Industrial Fasteners Market is forecast to surge from 2016 to 2021.
The global industrial fasteners market is largely fragmented. Mergers and acquisitions lead to competitive growth of the market players. Recently Indiana-based LINC Systems has announced the acquisition of Numax, (New York) an industrial fasteners distributor. This move has led to product expansion and improved efficiency to the combined company.
The research report “Global Industrial Fasteners Market Research Report - Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 – 2021” announced by DecisionDatabases.com studies the market dynamics and recent economic developments affecting the industrial fasteners market.
The key players of the global industrial fasteners market include Nifco, ITW Aloca, Standard fasteners limited, Acument Global Technologies, Dokka Fasteners, Precision Castparts Corp., Kova Fasteners Pvt. Ltd., Hilti, Penn Engineering, ATF Inc., EJOT, Stanley Black & Decker, and MW industries Inc. The research report assesses these companies and helps strategic decision makers to understand the complete competitive landscape of the industrial fasteners market.
Fasteners can be standard and application specific, on the basis of their types and properties. Bolts are the largest product segment, followed by screws. Application wise the automotive original equipment manufacturing leads the market followed by Machinery Original Equipment Manufacturing (OEM).The report analyses demand and supply characteristics of the market by providing detailed forecast and analysis of volume and revenue for the period from 2016-2021.
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