United States Industrial Fasteners Market to Grow with a CAGR of 3.01% through 2029
Economic expansion and infrastructure
development are expected to drive the United States Industrial Fasteners market
in the forecast period 2025-2029.
According to TechSci
Research report, “Industrial Fasteners Market – United States Industry
Size, Share, Trends, Competition, Forecast & Opportunities, 2019-2029F”,
the United States Industrial Fasteners Market stood at USD 16.70 billion in
2023 and is anticipated to grow with a CAGR of 3.01% in the forecast period,
2025-2029. The awareness among individuals regarding Industrial Fasteners has
led to favorable market conditions for the United States Industrial Fasteners
market. The manufacturing industry serves as the cornerstone of the United
States' industrial economy. In the production of diverse items, ranging from
appliances to machinery, fasteners hold a pivotal role. The integration of
cutting-edge manufacturing technologies, including 3D printing and automation,
has led to a demand for custom fasteners tailored for compatibility with these
contemporary methods. This, in turn, has stimulated innovation and expansion
within the fastener market.
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The automotive sector is a
significant purchaser of industrial fasteners. With the increasing demand for
vehicles, there is a parallel rise in the requirement for fasteners utilized in
the manufacturing and assembly processes. The ongoing progress in automotive
technology, including innovations like electric vehicles and autonomous cars,
has driven the creation of specialized fasteners, further amplifying the
market's growth. In September 2023, Hilti launched a new line of cordless
power tools with extended battery life. The new tools include a drill driver,
impact driver, hammer drill, and reciprocating saw. The tools are powered by
Hilti's new B22 12V battery, which provides up to 25% more runtime than the
previous battery. Economic expansion and progress give rise to heightened
construction and infrastructure endeavors. This, in effect, generates a
requirement for industrial fasteners, as they play a vital role in connecting
different elements in structures, bridges, highways, and additional infrastructure
ventures. As the U.S. economy grows, the demand for these fasteners escalates,
propelling market expansion. In today's fast-paced world, Industrial
fasteners enable rapid assembly and disassembly of components, allowing for
efficient production processes. Whether in manufacturing or construction, speed
and precision are critical to meeting tight deadlines. In industries like
automotive and electronics, fasteners aid in the quick and accurate assembly of
intricate and compact components. This results in enhanced productivity,
enabling manufacturers to keep pace with consumer demand. Fasteners are
essential for ensuring the structural integrity and safety of products and
structures. They provide stability and resilience, allowing for the creation of
safe and dependable end-products. Fasteners are adaptable and can be tailored
to meet specific requirements. This flexibility is essential for customization
and innovation, especially in industries where unique solutions are in high
demand, such as aerospace and medical devices. The modern fastener industry
keeps pace with technological advancements. This includes the development of
fasteners for smart devices, robotics, and other cutting-edge applications,
ensuring they remain relevant in an evolving technological landscape.
The United States
Industrial Fasteners Market is segmented into raw material, product, end-user,
regional distribution, and company.
Based on raw material,
Metals are prized for their inherent strength and durability. This makes them
well-suited for fastener applications where robust performance is essential.
Whether it's holding together heavy machinery, construction structures, or automotive
components, metal fasteners can withstand high levels of stress, vibration, and
environmental factors. The metal segment offers a wide range of materials that
can be tailored to specific applications. Common metals used in fasteners
include steel, stainless steel, aluminum, and various alloys. Each of these
materials has distinct properties that can be matched to the requirements of
different industries. For example, stainless steel fasteners are highly
corrosion-resistant and are commonly used in marine and food processing
applications, while steel fasteners are known for their strength and are used
across a variety of industries. Metals are often cost-effective materials for
manufacturing fasteners. They can be produced in large quantities, making them
suitable for mass production. The competitive pricing of metal fasteners
contributes to their dominance in the market.
Based on application, the
automotive segment is projected to experience rapid growth during the forecast
period. The automotive industry is one of the largest manufacturing sectors in
the United States. The demand for fasteners is substantial due to the sheer
volume of vehicles produced annually. These vehicles require a multitude of
fasteners for assembly, securing various components, and ensuring structural
integrity. Automotive assembly requires a broad spectrum of fasteners, ranging
from simple screws and nuts to highly specialized fasteners designed for
critical components. Each vehicle's construction incorporates fasteners that
differ in size, material, and functionality, addressing the unique needs of
various parts, from engines to interiors. The automotive sector has some of the
most rigorous quality and safety standards. Fasteners used in automotive
applications must meet exacting specifications and adhere to industry
regulations and standards. This demand for precision and reliability drives fastener
manufacturers to develop products that meet these stringent requirements.
Major
companies operating in United States Industrial Fasteners Market are:
- Arconic Fastening
Systems and Rings Inc
- Hilti Corporation
- Illinois Tool Works,
Inc.
- Acument United States
Technologies, Inc.
- ATF, Inc.
- MW Industries, Inc.
- Birmingham Fastener and
Supply, Inc.
- SESCO Industries, Inc.
- Elgin Fastener Group LLC
- Slidematic Inc
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“The United States
Industrial Fasteners Market is driven by several factors, including robust
industrial growth across sectors such as automotive, construction, and
aerospace, which necessitates the use of fasteners for assembly and
maintenance. Technological advancements lead to the development of specialized
fasteners catering to specific industry requirements, driving market expansion.
The stringent regulatory standards regarding product quality and safety propel
the demand for high-performance fastening solutions. Growing investments in
infrastructure projects further stimulate market growth, as fasteners are
integral components in construction and development activities. Moreover, the
increasing trend towards lightweight materials in manufacturing boosts demand
for advanced fastening solutions in the Unitred States market” said Mr. Karan
Chechi, Research Director with TechSci Research, a research-based management
consulting firm.
“United States
Industrial Fasteners Market Segmented By Raw Material (Metal, Plastic), By
Product (Externally Threaded Fasteners, Internally Threaded Fasteners,
Non-threaded Fasteners, Aerospace Grade Fasteners), By Application (Automotive,
Aerospace, Building and construction, Industrial Machinery, Home appliances,
Lawns and Gardens, Motors and Pumps, Furniture, Plumbing Products, Others), By
Country, Competition, Forecast, Opportunities, 2019-2029F”, has evaluated the future growth potential
of United States Industrial Fasteners Market and provides statistics &
information on market size, structure and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in United States Industrial Fasteners Market.
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