Global Industrial Fasteners Market to Reach USD 134.2 Billion by 2025, Expects Grand View Research in Its Report Available at MarketPublishers.com14 Mar 2017 • by Natalie Aster
LONDON – The increasing demand for electronic appliances, automobiles, industrial machinery, aircraft and medical equipment is expected to be the primary driver of the global market for industrial fasteners. The rising government spending on the machinery sector and infrastructure will also spur the growth.
The MRO industry is forecast to see an increase of the usage of industrial fasteners at a CAGR of more than 5% over the period 2016-2025. The usage is set to increase further thanks to the rising need in the enhanced efficiency from machines.
The world’s industrial fasteners industry is set to grow at a CAGR of approximately 6% in the coming years due to the rising demand from construction and automotive industries across emerging countries: India, Saudi Arabia, China, Brazil, etc.
North America held the largest share (20.9%) of the total revenue as of 2015. It is expected to maintain the leading position given the growing demand from automotive and aerospace sectors. The presence of the world’s largest manufactures (e.g. Buick and Ford) will also encourage the demand growth.
The machinery OEM application segment is set to grow substantially in the coming years. This marketplace is forecast to be worth just under USD 24.7 billion by 2025.The world’s industrial fasteners marketplace is set to surpass the USD 134 billion mark by 2025.
Insightful research report “Industrial Fasteners Market Analysis And Segment Forecasts, 2014 - 2025” elaborated by Grand View Research, Inc. offers a very detailed analysis of the world’s market for industrial fasteners. The study provides an all-round overview of the marketplace.
It focuses on market variables, trends and the scope. The report throws light on product segments and their market shares. The research study investigates application fields and their performance.
It scrutinizes regional marketplaces and delves deep into the most recent trends. The research report focuses on the competitive environment and sheds light on top companies active in this space. Future projections are available in the study, too.
More thorough studies by Grand View Research can be found at its page.