Commercial Vehicle Fasteners Market – Global Industry Size, Share, Trends Opportunity, and Forecast, Segmented By Vehicle Type (LCV, M&HCV), By Fastner Type (Threaded and Non-Threaded), By Material Type (Iron, Steel, Aluminum, Brass, Plastic), By Region and By Competition 2021-2031F

Forecast Period	2027-2031
Market Size (2025)	USD 19.45 Billion
CAGR (2026-2031)	5.87%
Fastest Growing Segment	LCV
Largest Market	North America
Market Size (2031)	USD 27.39 Billion

Market Overview

The Global Commercial Vehicle Fasteners Market will grow from USD 19.45 Billion in 2025 to USD 27.39 Billion by 2031 at a 5.87% CAGR. Commercial vehicle fasteners encompass essential hardware components such as nuts, bolts, screws, rivets, and washers designed to secure heavy-duty trucks, buses, and trailers. The market is primarily driven by the escalating global demand for logistics and freight services which necessitates the expansion of transportation fleets to support supply chains. Additionally, robust investments in infrastructure development projects worldwide further stimulate the production of construction-related commercial vehicles and ensure a sustained requirement for high-strength fastening solutions.

A significant challenge impeding expansion is the volatility in raw material prices particularly steel which directly impacts manufacturing costs for fastener producers. Economic fluctuations also create instability in vehicle production volumes leading to unpredictable demand cycles for component suppliers. According to the European Automobile Manufacturers' Association (ACEA), in 2024, new truck registrations in the European Union declined by 6.3 percent to total 327,896 units reflecting the sector's vulnerability to broader market contractions.

Key Market Drivers

The acceleration of commercial vehicle electrification is fundamentally reshaping the fasteners market, necessitating the development of specialized high-strength, insulated, and lightweight hardware. As original equipment manufacturers transition from internal combustion engines to battery-electric powertrains, there is a critical requirement for precision fasteners designed to secure heavy battery packs and protect sensitive electronic control units from vibration and thermal stress. This technological shift is exemplified by major truck manufacturers intensifying their zero-emission output to meet decarbonization targets, thereby altering component procurement strategies. According to Volvo Trucks, March 2025, in its annual market performance update, the company maintained its leadership in the European heavy electric truck segment by registering 1,970 electric trucks in 2024, capturing a 47 percent market share. This dominance in electric mobility signals a long-term pivot toward fasteners engineered specifically for electrical conductivity management and structural battery integration.

Simultaneously, the expansion of global logistics and e-commerce fleet operations is driving sustained demand for durable fastening systems suitable for high-frequency delivery cycles. The surge in last-mile delivery services has necessitated robust fleets of light commercial vehicles and vans, which rely on modular fastening solutions for rapid assembly and aftermarket maintenance. According to the European Automobile Manufacturers' Association (ACEA), January 2025, in the 'New Commercial Vehicle Registrations' report, new van registrations in the European Union increased by 8.3 percent to reach nearly 1.6 million units in 2024. This fleet modernization is further supported by the globalization of automotive supply chains, which ensures the cross-border flow of essential transport hardware to meet international demand. According to the China Association of Automobile Manufacturers (CAAM), January 2025, in its annual industry statistics release, commercial vehicle exports from China surged by 17.5 percent year-on-year to total 904,000 units in 2024, underscoring the universal requirement for corrosion-resistant fasteners in diverse global transportation infrastructures.

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Key Market Challenges

Economic fluctuations that create instability in vehicle production volumes constitute a severe impediment to the Global Commercial Vehicle Fasteners Market. Since demand for fasteners is derived directly from original equipment manufacturing output, any volatility in vehicle assembly schedules causes immediate disruptions in the component supply chain. When economic uncertainty forces fleet operators to delay capital expenditures, manufacturers reduce production targets, leading to sudden order cancellations for fastener suppliers. This unpredictability creates substantial inventory risks and hinders the ability of fastener manufacturers to plan capacity effectively.

The impact of this instability is evident in recent market performance where sustained downturns in key regions have directly reduced component consumption. According to the European Automobile Manufacturers' Association (ACEA), in the first half of 2025, new EU truck registrations fell by 15.4 percent to total 155,367 units compared to the same period in the previous year. Such sharp contractions in vehicle output directly translate to reduced revenue for fastener producers and underscore the sector's sensitivity to broader economic instability.

Key Market Trends

The Rise of Hybrid Adhesive-Mechanical Joining Technologies is gaining prominence as manufacturers prioritize structural rigidity and weight reduction in chassis designs. By integrating structural adhesives with mechanical fasteners, OEMs can effectively bond dissimilar materials such as steel and composites, mitigating issues like galvanic corrosion and thermal expansion mismatches. This engineering shift allows for superior load distribution and crash performance compared to traditional joining methods alone. The growing market reliance on these bonding solutions is reflected in the financial performance of major technology suppliers. According to Henkel, March 2025, in the 'Annual Report 2024', the Adhesive Technologies business unit achieved organic sales growth of 2.4 percent, a performance driven notably by increased demand within the mobility and electronics sectors.

Simultaneously, the Design of Fasteners for Automated and Robotic Assembly Systems is becoming essential to accommodate high-volume, mixed-model production lines. As manufacturers produce electric and internal combustion vehicles on shared platforms, fastening components must be engineered for robotic handling, precise torque control, and high-speed installation to ensure operational efficiency and minimize errors. This industry pivot toward flexible, automated manufacturing is exemplified by the scaling strategies of leading truck manufacturers. According to Daimler Truck, September 2024, in a corporate press release regarding the eActros 600, the company confirmed it had received 2,000 orders for the new model, which will be manufactured on existing assembly lines alongside diesel trucks using flexible production processes.

Segmental Insights

The Light Commercial Vehicle (LCV) segment represents the fastest-growing category within the Global Commercial Vehicle Fasteners Market. This expansion is fundamentally driven by the global surge in e-commerce, which has intensified the demand for efficient last-mile delivery and logistics networks. As fleet operators expand their inventories of vans and light trucks to accommodate rising online retail volumes, the consumption of automotive fasteners has increased proportionally. Additionally, manufacturers are increasingly utilizing lightweight fastening solutions to comply with stringent fuel economy standards and maximize the payload potential of these commercial units.

Regional Insights

North America leads the Global Commercial Vehicle Fasteners Market, supported by a vast manufacturing base for light and heavy commercial trucks. This dominance is reinforced by the focus of major original equipment manufacturers on component durability and supply chain stability. Additionally, rigorous safety and emission standards mandated by the National Highway Traffic Safety Administration and the Environmental Protection Agency drive the adoption of high tensile and lightweight fastening technologies. These regulatory requirements ensure that market players continuously innovate to maintain vehicle structural integrity and compliance, securing North America’s position as the primary hub for commercial vehicle fasteners.

Recent Developments

• In May 2025, Sterling Tools Limited entered into a technology licensing agreement with United Kingdom-based Advanced Electric Machines to manufacture magnet-free traction motors for electric vehicles. This collaboration authorized the company's subsidiary to produce and market these advanced motors domestically, targeting various segments including commercial vehicles. The partnership aimed to reduce reliance on rare earth magnets and imported components, thereby strengthening the local supply chain for electric vehicle powertrains. This strategic move represented a significant diversification for the fastener manufacturer into high-value automotive electrical components.
• In October 2024, Stanley Engineered Fastening showcased its next-generation Automated Blind Fastening (ABF-N) system at the IZB 2024 trade fair. This new product launch was designed to address the evolving needs of automotive and commercial vehicle manufacturing, particularly for electric vehicle applications where precision and efficiency are critical. The ABF-N system offered a solution for high-volume production environments by automating the installation of blind rivet nuts, thereby improving cycle times and ensuring consistent quality. This innovation highlighted the company's focus on delivering advanced assembly technologies to support lightweighting and electrification trends in the global market.
• In January 2024, PennEngineering announced the acquisition of Sherex Fastening Solutions, a global leader in the design and manufacture of blind rivet nuts and associated fastening products. This strategic expansion integrated Sherex’s technical expertise with PennEngineering’s existing portfolio, positioning the company as a premier provider of rivet nuts worldwide. The acquisition was aimed at strengthening the organization's ability to deliver innovative fastening solutions to customers in the automotive and commercial vehicle sectors. This move allowed the company to leverage additional global manufacturing capabilities to meet the growing international demand for high-quality fastening components.
• In January 2024, Sundram Fasteners Limited signed a Memorandum of Understanding with the government of Tamil Nadu to invest ₹1,411 crore across its manufacturing facilities. This planned investment, spanning through 2028, was designated for the capacity expansion of existing products and the development of new components for electric vehicles, including specialized fasteners. The initiative underscored the company's commitment to the commercial vehicle and automotive markets by enhancing its production capabilities to support the industry's transition towards electrification. The project was also expected to generate significant employment opportunities in the region.

Key Market Players

• Bulten AB
• Shanghai Tianbao Fastener Manufacturing company Limited
• Westfield Fasteners Limited
• The Phillips Screw Company
• KOVA Fasteners Private Limited
• KAMAX Holding GmbH & Co. KG
• LISI Group
• Illinois Tool Works Inc.
• The SFS Group AG
• Nifco Inc.

By Vehicle Type	By Fastner Type	By Material Type	By Region
LCV M&HCV	Threaded and Non-Threaded	Iron Steel Aluminum Brass Plastic	North America Europe Asia Pacific South America Middle East & Africa

Report Scope:

In this report, the Global Commercial Vehicle Fasteners Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

• Commercial Vehicle Fasteners Market, By Vehicle Type:

• LCV
• M&HCV

• Commercial Vehicle Fasteners Market, By Fastner Type:

• Threaded and Non-Threaded

• Commercial Vehicle Fasteners Market, By Material Type:

• Iron
• Steel
• Aluminum
• Brass
• Plastic

• Commercial Vehicle Fasteners Market, By Region:

• North America
• United States
• Canada
• Mexico
• Europe
• France
• United Kingdom
• Italy
• Germany
• Spain
• Asia Pacific
• China
• India
• Japan
• Australia
• South Korea
• South America
• Brazil
• Argentina
• Colombia
• Middle East & Africa
• South Africa
• Saudi Arabia
• UAE