North America Automotive Fastener Market Size By Vehicle Type (Passenger Car, Light Commercial Vehicle), By Application (Wire Harnessing, Interior Trim, Engine), By Product (Threaded Fastener and Non-Threaded Fastener), By Propulsion (IC Engine Vehicles and Electric Vehicles), By Material Type (Steel, Brass, Aluminum), By Type (Removable Fastener, Permanent Fastener), By Geographic Scope And Forec

North America Automotive Fastener Market Size And Forecast

North America Automotive Fastener Market size was valued at USD 7.48 Billion in 2023 and is projected to reach USD 10.34 Billion by 2030, growing at a CAGR of 3.25% from 2024 to 2030.

The demand for fasteners is mainly driven by the automotive sector due to vast application areas. Automotive vehicles are held together using various fasteners such as screws, rivet nuts, stud welds, bolts, clips, and retainers, which are made with various materials, designs, and sizes. The North America report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

North America Automotive Fastener Market Definition

Fasteners are basically those little hardware bits and bobs we use to stick things together, whether it's a one-time thing or something you might want to take apart later. You'll find these mechanical sealing devices everywhere, but they're huge in the automotive industry, where they keep all those car parts from falling apart! Think of a fastener like a screw thread – you've got the screw itself (the male part) and the hole it goes into (the female part). Common examples include screws, nails, bolts, clamps, anchors, pins, rings, clips, staples, rods, flats, tapping screws, set screws, studs, nuts, washers, etc.

Fasteners are available in both metal and non-metal materials, wherein metal consists of steel, brass, copper, aluminium and non-metals include polycarbonate, Polyvinyl Chloride (PVC) and polypropylene. The automotive sector uses fasteners for various joining various internal and external parts. It is used indoor panels, engine parts, chassis, drivetrain, power windows, vehicle frame, sunroof assembly, body armor, bumpers and many other application areas. The demand for automotive fasteners is on the rise in North America mainly due to rise in the automotive production.

Things were rough for car companies during the pandemic, but now that economies are opening up and trade is flowing again, things are looking up! Factories are humming, and that's creating a real need for automotive fasteners. We're seeing more and more cars being built in the US, Canada, and Mexico, which is great for the market. In Canada, we expect the demand for these fasteners to keep growing as vehicle production ramps up. The Government of Canada says big names like Stellantis, Ford, GM, Honda, and Toyota ? some of the top global OEMs ? put together over 1.4 million vehicles a year at their Canadian plants, and that definitely boosts the demand for fasteners!

North America Automotive Fastener Market Overview

Think about all those little parts that hold your car together. Yep, we're talking about fasteners! The automotive sector is really what keeps the fastener industry humming, simply because cars use so many of them. We're talking screws, rivet nuts, stud welds, bolts, clips, and retainers, all shapes, sizes, and materials. They're not just extras; these fasteners are essential for everything to lock, swivel, and generally stay put, both inside and outside the car. You'll find them in windshield wipers, power windows, even bumpers and doors! As more and more cars hit the road, the demand for these fasteners just keeps going up. And guess what? Plastic fasteners are becoming super popular because they're lightweight, cheap, strong, and can handle heat, rust, and all sorts of nasty chemicals. This growing trend is helping the automotive fastener market grow even faster!

The market's not growing as fast as it could, mainly because there are other options out there, like special paints and finishes for the fasteners themselves. For ages, cars have used screws, bolts, nuts, and all sorts of fasteners to hold everything together. But, more and more, those fasteners are being swapped out for adhesives, which are even better at bonding surfaces. These adhesives can stick to all sorts of materials—metals, thermoplastics, you name it—and they even act as an insulator, reducing galvanic corrosion. Plus, they're easy to slap on and cover a lot of ground, which is great for fastening. Car companies are always looking to cut costs on making vehicles and labor, so adhesives are becoming more popular. And while that's slowing down the fastener market, the good news is that electric cars are really taking off, which means there are still plenty of opportunities for the North America Automotive Fastener Market to grow.

North America Automotive Fastener MarketSegmentation Analysis

The North America Automotive Fastener Market is segmented on the basis of Vehicle Type, Application, Product, Propulsion, Material Type, Type, and Geography.

North America Automotive Fastener Market By Vehicle Type

• Passenger Car• Light Commercial Vehicle• Heavy Commercial Vehicle

Based on Vehicle Type, the market is bifurcated into Passenger Car, Light Commercial Vehicle, and Heavy Commercial Vehicle. This segment of the Automotive Fastener market is dominated by Passenger car. The rising sale of passenger vehicles and increasing per capita income in emerging economies with strict government rules are enhancing the growth of the passenger car segment.

North America Automotive Fastener Market By Application

• Wire Harnessing• Interior Trim• Engine• Chassis• Front/Rear Axle• Others

When we look at Application, the North America Automotive Fastener Market is broken down into areas like Wire Harnessing, Interior Trim, the Engine, Chassis, Front/Rear Axle, and of course, "Others." Interestingly, Wire Harnessing grabbed the biggest piece of the pie back in 2020 and is expected to keep growing at a rate of 5.89% each year. Now, what's a wire harness? It's basically a bunch of wires bundled together to send signals or power to anything from a tiny gadget to a giant machine. As we need more of these to hold wire harnesses in place and secure parts inside and outside our cars, that demand is really going to drive the market. Plus, with all the electrical and electronic stuff packed into today's cars, wire harnesses are more important than ever, which gives the market an extra boost!

North America Automotive Fastener Market By Product

• Threaded Fastener• Non-Threaded Fastener

Okay, so when we look at the North American Automotive Fastener Market based on the type of fastener, we see two main categoriesThreaded Fasteners and Non-Threaded Fasteners. And guess what? Threaded Fasteners totally dominated in 2020! We're expecting them to keep growing strong, too, with a predicted CAGR of 5.98% going forward. Now, when we talk about threaded fasteners, we mean any part that has those spiral ridges, inside or out, you know, threads. They're super handy for putting car parts together and taking them apart. Plus, with more people wanting cars in North America (partly because of those tougher pollution rules), we’re likely to see even MORE threaded fasteners used. That’s a big reason why the market is expected to keep on growing.

North America Automotive Fastener Market By Propulsion

• IC Engine Vehicles• Electric Vehicles

Based on Propulsion, the market is bifurcated into IC Engine Vehicles and Electric Vehicles. Electric Vehicles is further bifurcated into Hybrid Electric Vehicle (HEV), Battery Electric Vehicle (BEV), and Plug-in Hybrid Electric Vehicle (PHEV). This segment of the Automotive Fastener market is dominated by IC Engine Vehicles. Increasing demand for high-quality fasteners in the automobile sector which has better reliability, strength, and corrosion resistance properties is supporting the growth of the North American automotive fasteners market.

North America Automotive Fastener Market By Material Type

• Steel• Brass• Aluminum• Plastic• Others

So, when we look at the North America Automotive Fastener Market, we can break it down by what the fasteners are made ofSteel, Brass, Aluminum, Plastic, and "Others." Back in 2020, steel fasteners were the most popular, and they're expected to keep growing at a rate of about 6.04% each year. Why steel? Well, it's often used to make these fasteners because it's tough! Think about itif you need something that can handle temperature changes, corrosion, and just plain strength, steel is a great choice. It's probably the go-to material for a reason, offering durability and unique qualities. Stainless steel fasteners, in particular, are known to last a long time and hold up well in nasty, corrosive conditions, plus they can handle extreme temperatures. All these benefits are why you see steel fasteners used so much in the car industry.

North America Automotive Fastener Market By Type

• Removable Fastener• Permanent Fastener• Semi-Permanent Fasteners

Based on Type, the market is bifurcated into Removable Fastener, Permanent Fastener, and Semi-Permanent Fasteners. This segment of the Automotive Fastener market is dominated by a removable Fastener. The removable fasteners will have a prominent position amongst all the segments over the forecast period. The removable fasteners can be removed with ease using power tools without creating any harm to the vehicle body hence they will dominate the automotive fastener market amongst all the types.

North America Automotive Fastener Market By Geography

• U.S.• Canada• Mexico

Let's take a look at North America. The North America Automotive Fastener Market is divided into the U.S., Canada, and Mexico. We expect the U.S. to dominate in fastener demand, with Canada coming in second. Why? Well, car production is up thanks to a growing population and people having more money to spend. Plus, more and more auto manufacturing is moving away from the U.S.'s older industrial areas.

And don't forget about electric vehicles! The rising demand for EVs is giving the market another boost. Big names like Ford, Chevrolet, and GMC are all here, which is just fueling the boom.

Key Players

The “North America Automotive Fastener Market” study report will provide valuable insight with an emphasis on the market. The major players in the market include Stanley Black & Decker, ITW, Nifco Group, LISI Group, Bulten AB, SFS GROUP AG, Kamax, Nedschroef, and others. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players.

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