Dublin, Nov. 13, 2024 (GLOBE NEWSWIRE) -- The "United States Industrial Fasteners Market, By Region, Competition, Forecast & Opportunities, 2019-2029F" report has been added to ResearchAndMarkets.com's offering.
United States Industrial Fasteners Market was valued at USD 16.70 billion in 2023 and is anticipated to project steady growth in the forecast period with a CAGR of 3.01% through 2029.
The United States Industrial Fasteners market is a dynamic and essential component of the country's manufacturing and construction sectors. Industrial fasteners, such as screws, bolts, nuts, and rivets, play a crucial role in holding together various components in machinery, equipment, structures, and products. The United States Industrial Fasteners market is substantial, reflecting the country's diverse manufacturing and construction industries. The market has experienced steady growth over the years, with a strong emphasis on innovation, quality, and safety standards.
Technological Advancements and Innovation
With the rise of Industry 4.0 and the Internet of Things (IoT), there's a growing trend toward "smart" fastener. These fasteners are embedded with sensors and data collection capabilities. They can monitor factors like tension, temperature, and torque, providing real-time data for predictive maintenance. Industries such as aerospace, automotive, and manufacturing are increasingly adopting smart fasteners to enhance equipment reliability and safety.
Sustainability and Environmental Responsibility
The push for energy efficiency has made energy-saving fasteners a significant trend. These fasteners are designed to reduce heat transfer, improve insulation, and enhance overall energy performance. Industries that focus on energy efficiency, such as construction and HVAC, are increasingly incorporating these fasteners into their projects. Fastener manufacturers are working to meet evolving regulatory requirements related to material composition and environmental impact. Compliance with regulations, such as REACH (Registration, Evaluation, Authorization, and Restriction of Chemicals) and RoHS (Restriction of Hazardous Substances), is crucial. Adhering to these standards ensures that fasteners can be safely used in a range of applications.
Customization and Specialization
Increasingly, fastener suppliers are collaborating with their customers to create customized fastener solutions, enhancing supply chain integration. This partnership approach allows for better alignment with customer needs and ensures that fasteners are designed to meet precise specifications.
Segmental Insights
Product Insight
Based on Product, the Externally Threaded segment emerged as the dominant segment in the United States market for Industrial Fasteners in 2023. Externally threaded fasteners encompass a broad range of products, including screws, bolts, and studs. These fasteners are versatile and can be employed in a wide array of applications across various industries. Their external threading allows them to be easily inserted into pre-drilled or pre-tapped holes, making them suitable for different materials and structures.
The externally threaded segment offers a diverse portfolio of fasteners, each with specific features and applications. This includes machine screws, wood screws, self-tapping screws, and a wide variety of bolts with different head types and materials. This range allows fastener manufacturers to address the specific needs of different industries and applications. Externally threaded fasteners are relatively easy to install, which reduces labor costs and the need for specialized equipment. The simplicity of their design, with threads on the outside, makes them accessible for a wide range of users, from construction workers to DIY enthusiasts.
Externally threaded fasteners are often cost-effective solutions due to their mass production capabilities. They can be produced in large quantities, making them affordable for bulk purchasing, which benefits industries that require a high volume of fasteners. Externally threaded fasteners are subject to industry standards and regulations, ensuring their quality and safety. Compliance with these standards is essential for industries such as construction, automotive, and manufacturing, which rely on fasteners to meet stringent safety and performance requirements. These factors are expected to drive the growth of this segment.
Regional Insights
Midwest emerged as the dominant region in the United States Industrial Fasteners market in 2023, holding the largest market share in terms of both value and volume. The Midwest, often referred to as the "Rust Belt," is a traditional manufacturing hub in the United States. The region hosts a dense concentration of automotive, aerospace, machinery, and construction industries. These sectors are major consumers of industrial fasteners, leading to substantial demand in the Midwest.
The Midwest's central location and extensive transportation infrastructure, including railways, highways, and ports, facilitate the distribution of fasteners to manufacturers across the United States. This transportation advantage bolsters the region's dominance. The Midwest has witnessed consistent economic activity, with many companies headquartered in the region or operating manufacturing facilities there. This economic stability contributes to the sustained demand for industrial fasteners. A well-established supply chain, with numerous fastener manufacturers and suppliers in the Midwest, ensures the availability of a wide variety of fasteners to cater to diverse industries.
The Southeast market is poised to be the fastest-growing market, offering lucrative growth opportunities for Industrial Fasteners players during the forecast period. Factors such as The Southeastern United States has emerged as a hotspot for the automotive industry. Several major automotive manufacturers and suppliers have established operations in states like Alabama, Georgia, South Carolina, and Tennessee. This boom in automotive manufacturing fuels the demand for industrial fasteners. The Southeast is also witnessing significant growth in the aerospace and defense sectors. With the presence of key companies and military installations, there is an increased requirement for high-performance fasteners in these industries.
The region experiences ongoing construction and infrastructure development, driven by population growth and urbanization. Major cities like Atlanta, Miami, and Charlotte are experiencing substantial construction projects, leading to a heightened demand for fasteners in the building and construction sector. The Southeast is geographically close to major ports along the Atlantic coast, enhancing the region's connectivity for importing and exporting fasteners. This proximity to ports enables efficient global trade and distribution. Investments by state governments and private enterprises have been made to attract and retain manufacturing and industrial companies. These investments boost the overall economic activity in the region, further contributing to the growth of the industrial fasteners market.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 82 |
| Forecast Period | 2023 - 2029 |
| Estimated Market Value (USD) in 2023 | $16.7 Billion |
| Forecasted Market Value (USD) by 2029 | $19.75 Billion |
| Compound Annual Growth Rate | 3.0% |
| Regions Covered | United States |
Report Scope:
Key Market Players
- Arconic Fastening Systems and Rings Inc
- Hilti Corporation
- Illinois Tool Works, Inc.
- Acument Global Technologies, Inc.
- ATF, Inc.
- MW Industries, Inc.
- Birmingham Fastener and Supply, Inc.
- SESCO Industries, Inc.
- Elgin Fastener Group LLC
- Slidematic Inc
United States Industrial Fasteners Market, By Raw Material:
- Metal
- Plastic
United States Industrial Fasteners Market, By Product:
- Externally Threaded Fasteners
- Internally Threaded Fasteners
- Non-threaded Fasteners
- Aerospace Grade Fasteners
United States Industrial Fasteners Market, By Application:
- Automotive
- Aerospace
- Building and construction
- Industrial Machinery
- Home appliances
- Lawns and Gardens
- Motors and Pumps
- Furniture
- Plumbing Products
- Others
United States Industrial Fasteners Market, By Region:
- Northeast
- South
- West
- Midwest
For more information about this report visit https://www.researchandmarkets.com/r/1zxwe6
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