13386
Global Industrial Fasteners Market to Top $104b
World Economy

Global Industrial Fasteners Market to Top $104b

Growing construction spending coupled with increasing demand for fasteners in automotive industry is expected to boost the global industrial fasteners market is expected to reach $104.32 billion by 2020, according to a new study.
Economic growth and industrialization in emerging markets of China, Brazil, Saudi Arabia, Australia, Indonesia and India is expected to drive demand for fasteners over the next six years, added the new “Global Industrial Fasteners Market Analysis, Size and Segment Forecasts to 2020” released by Grand View Research, a US-based market research and consulting company, TradeArabia reported.
Asia Pacific is expected to witness growth on account of increasing government investments in commercial aircraft and aerospace, defense and non-building construction. Advanced processing technique and improved mechanical properties of fasteners is expected to serve new growth opportunities for the market. In addition, development of railroad fasteners is expected to open new market avenues for manufacturers over the next six years.
Externally threaded fasteners were the largest product segment and accounted for over 45 percent of market share in 2013. Growth can be attributed to increasing use of fasteners in the automotive OEM, machinery OEM and construction industry, the report said.

  Key Findings
Automotive OEM was the second largest application market accounting for over 20 percent of revenue share in 2013 and is expected to show significant growth over the forecast period as a result of increasing production of automobiles in China, Japan, Australia, Mexico, US and India.
Construction is expected to witness swift demand growth at an estimated CAGR of 6.9 percent from 2014 to 2020, due to rising government funding for large scale infrastructure and residential construction in emerging markets of China, Argentina, India, Saudi Arabia and Indonesia.
Asia Pacific was the largest regional market accounting for over 30 percent revenue share in 2013 and is expected to witness growth at an estimated CAGR of around 7 percent from 2014 to 2020, owing to increasing production of motor vehicles, industrial machinery and electrical & electronic components. In addition, growing construction industry in China, Japan, India, Thailand, Australia, South Korea and Taiwan is expected to further fuel market growth.

 

Short URL : http://goo.gl/7eSCdA

You can also read ...

All three sides can’t agree on a few key issues.  Top of the list: The manufacturing of cars.
No meaningful progress is being made in NAFTA trade talks...
IMF Cautions Kenya on Rising Debt
The International Monetary Fund has cautioned that Kenya’s...
The rules say that EU countries should have budget deficits below 3% of GDP and public debt below 60% of GDP.
National budgets of six eurozone countries may break the...
AT&T-Time Warner Merger Case Politically Motivated
The US Justice Department’s lawsuit to block AT&T’s $85...
Credit Tightening Dominoes Threaten Asia With Hidden Risks
With Asia’s economies humming along, consumer prices rising...
Gold Inches Up as Dollar Dips
Gold prices crept up on Wednesday amid a softer dollar, with...
UK Slashes Growth Projections
Britain slashed its official projections for economic growth...
Mexico Boosts Minimum Wage
The bittersweet news for Mexico’s poorest workers: the...

Trending

Googleplus