Passenger Car Fasteners Market – Global Industry Size, Share, Trends Opportunity, and Forecast, Segmented By Vehicle Type (SUV, Sedan, Hatchback, MUV), 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 26.37 Billion
CAGR (2026-2031)	6.05%
Fastest Growing Segment	SUV
Largest Market	Asia Pacific
Market Size (2031)	USD 37.51 Billion

Market Overview

The Global Passenger Car Fasteners Market will grow from USD 26.37 Billion in 2025 to USD 37.51 Billion by 2031 at a 6.05% CAGR. Passenger car fasteners are specialized mechanical hardware components, such as nuts, bolts, screws, and rivets, engineered to securely join vehicle parts while withstanding high levels of vibration and stress. The primary drivers supporting market growth include the steady recovery in global automotive production volumes and the increasing mechanical complexity of modern vehicles, which necessitates a greater number of precision connection points per unit. According to the International Organization of Motor Vehicle Manufacturers, in 2024, the Chinese manufacturing sector alone assembled over 27.4 million passenger cars, illustrating the immense scale of industrial demand for these essential assembly components.

Despite this positive trajectory, the market faces a significant challenge arising from the volatility of raw material prices, particularly for steel and aluminum. Sudden fluctuations in input costs create pricing instability and compress profit margins for manufacturers, thereby acting as a substantial constraint on steady market expansion and long-term supply chain planning.

Key Market Drivers

The accelerated adoption of electric and hybrid vehicles is a primary catalyst reshaping the Global Passenger Car Fasteners Market. As automotive manufacturers transition from internal combustion engines to electrified powertrains, there is a distinct shift in demand toward specialized joining components designed to secure heavy battery packs, inverters, and high-voltage electrical systems. These applications require high-strength, insulated, and corrosion-resistant fasteners that can maintain integrity under unique thermal and mechanical stresses. According to the International Energy Agency, April 2024, in the 'Global EV Outlook 2024', global sales of electric cars approached 14 million units in 2023, accounting for approximately 18 percent of all cars sold. This substantial increase in electrification volume forces suppliers to develop specific hardware that accommodates the material compatibility issues often found in EV platforms, such as joining aluminum chassis parts to steel battery enclosures.

Concurrently, the strict implementation of fuel economy and emission standards drives the necessity for lightweight fastening solutions. Automotive engineers are compelled to reduce overall vehicle weight to satisfy rigorous environmental regulations, leading to the substitution of traditional heavy steel bolts with lighter alternatives made from aluminum, titanium, or high-performance polymers. According to the U.S. Environmental Protection Agency, March 2024, in the 'Multi-Pollutant Emissions Standards for Model Years 2027 and Later Light-Duty and Medium-Duty Vehicles', the industry must meet a fleet-wide average target of 85 grams/mile of CO2 by 2032, a mandate that necessitates aggressive weight reduction strategies across all vehicle assemblies. This regulatory pressure is amplified by a recovering sales environment which supports investment in these newer technologies; according to the European Automobile Manufacturers’ Association, in 2024, the European Union car market concluded 2023 with a solid expansion of 13.9 percent compared to the previous year, signaling robust industrial activity that underpins the demand for regulatory-compliant fastening components.

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Key Market Challenges

Volatility in raw material costs, particularly for steel and aluminum, represents a primary obstacle to the stable expansion of the passenger car fasteners market. As these components are predominantly manufactured from metal alloys, sudden spikes in commodity prices directly increase production expenditures for suppliers. This unpredictability creates a difficult environment for manufacturers who typically operate on tight margins. When input costs rise unexpectedly, producers struggle to maintain competitive pricing structures without absorbing significant financial losses or attempting to pass costs onto automotive original equipment manufacturers, which strains business relationships.

This instability effectively hinders long-term supply chain planning and delays investment in necessary capacity expansion. The intense global competition for these resources further exacerbates pricing fluctuation. According to the World Steel Association, in 2024, global steel demand was projected to rebound by 1.7% to reach 1,793 million tonnes. Such substantial aggregate demand places consistent pressure on material availability and pricing dynamics. Consequently, fastener manufacturers face continued uncertainty that complicates fixed-price contract negotiations and restricts the overall financial growth of the sector.

Key Market Trends

The integration of RFID and sensor-enabled smart fasteners is transforming automotive supply chains by enabling digital traceability and automated inventory management. These intelligent systems allow manufacturers to track component usage in real-time and streamline replenishment, significantly reducing operational downtime. By embedding digital intelligence into assembly lines, suppliers are converting standard hardware into data-generating assets that optimize logistics and ensure process transparency. According to the Bossard Group, February 2025, in the 'Annual Report 2024', the number of smart devices installed at customer facilities grew by 5.1 percent to 478,000 units, demonstrating the rising industrial reliance on connected fastening solutions.

Simultaneously, the adoption of cold forging and precision machining is accelerating to produce fasteners with complex geometries for modern vehicle platforms. Unlike traditional machining methods that generate significant scrap, cold forging enables the efficient production of high-strength, net-shape components that meet rigorous safety tolerances while minimizing material waste. This manufacturing capability enables suppliers to maintain resilience and address the demand for intricate part designs; according to the SFS Group, July 2025, in the 'Half-Year Report 2025', the company achieved an organic sales growth of 1.1 percent, underscoring the sustained demand for high-precision engineered components despite broader market challenges.

Segmental Insights

Trusted industry analysis highlights the Sport Utility Vehicle segment as the most rapidly expanding category within the Global Passenger Car Fasteners Market. This robust growth is primarily driven by the distinct structural requirements of SUVs, which necessitate a significantly higher volume of fasteners than standard sedans to support heavier frames and complex chassis systems. Furthermore, a sustained global shift in consumer preference toward versatile utility vehicles has compelled automakers to increase production significantly. This rising manufacturing output directly accelerates the demand for specialized fastening solutions, establishing the SUV segment as a critical driver of market momentum.

Regional Insights

Asia Pacific commands the leading position in the Global Passenger Car Fasteners Market, primarily driven by its status as the world’s largest automotive manufacturing hub. Countries such as China, Japan, and India account for substantial passenger vehicle production volumes, directly fueling the demand for various mechanical fasteners. This dominance is further supported by the abundant availability of essential raw materials, such as steel and plastic, alongside a cost-effective industrial ecosystem. Additionally, the strong presence of major automotive Original Equipment Manufacturers (OEMs) and rising disposable incomes continue to accelerate market expansion across the region.

Recent Developments

• In October 2024, the Bossard Group signed an agreement to acquire the Ferdinand Gross Group, a Germany-based provider of C-parts management and fastening solutions. This acquisition was aligned with the Bossard Group's strategy to strengthen its market presence in Germany and Eastern Europe. The transaction was expected to enhance the company's logistical capabilities and product offerings for industrial customers, including those in the automotive sector. The Ferdinand Gross Group, a long-standing family-owned company, was set to be integrated into the Bossard Group's global network, providing customers with expanded access to engineering and logistical services.
• In October 2024, NORMA Group recognized three of its suppliers with the "Supplier Recognition Award" for their outstanding quality and delivery performance in 2023. Among the honorees was a supplier of polyamide 66, a material used by NORMA Group to manufacture connectors for electric vehicles and other joining components in China. The awards highlighted the importance of reliable partnerships in maintaining stable supply chains and competitive product quality in the mobility sector. The CEO of NORMA Group emphasized that these collaborations were essential for meeting the high standards required by customers in the automotive industry.
• In April 2024, TR Fastenings launched the new Plas-Tech 30-20 screw, a fastener specifically designed for use with plastic materials in automotive and other industrial applications. The product featured an optimized thread profile that allowed for advanced performance in various plastic types, ensuring a secure fix by displacing the surrounding material during installation. This launch was part of the company's strategy to expand its portfolio for the automotive sector, where the use of lightweight plastic components is increasing. The screws were manufactured in the company's own facilities and were suitable for robotic assembly processes.
• In January 2024, PennEngineering announced the acquisition of Sherex Fastening Solutions, a global leader in the design, manufacturing, and installation of blind rivet nuts and associated fastening solutions. This strategic move was intended to expand PennEngineering’s global manufacturing capability and product portfolio within the fastening market. The acquisition combined Sherex’s technical expertise and production capabilities with PennEngineering’s existing ATLAS product line, strengthening the company's ability to deliver innovative fastening solutions to customers worldwide. The President of Sherex and ATLAS was appointed to lead the combined operations, reporting directly to the CEO of PennEngineering.

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
SUV Sedan Hatchback MUV	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 Passenger Car Fasteners Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

• Passenger Car Fasteners Market, By Vehicle Type:

• SUV
• Sedan
• Hatchback
• MUV

• Passenger Car Fasteners Market, By Fastner Type:

• Threaded and Non Threaded

• Passenger Car Fasteners Market, By Material Type:

• Iron
• Steel
• Aluminum
• Brass
• Plastic

• Passenger Car 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