Industrial Fasteners Market Size

Industrial Fasteners Market size was over USD 96.15 billion in 2024 and is projected to reach USD 168.69 billion by the end of 2037, growing at around 4.6% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of industrial fasteners is assessed at USD 99.61 billion. The growing global production of manufactured goods can be primarily a reason for the industry growth. Thanks to their huge advantages, industrial fasteners are a key component in the production of industry. This is leading to promising growth opportunities for a market size, as the rate of industrial output increases. As an example, by 2021, there will be a rise of 8 % in the production of products within the EU compared to 2020, reaching 108%.

With the increased production of motor vehicles, it is anticipated that key players operating in the global market will have enormous revenue generation opportunities over the forecast period because of a growing demand for fasteners from vehicle manufacturers. Based on the information provided by the International Association of Vehicle Manufacturers OICA, vehicle production increased over the past few years and reached about 80 million cars in 2021 as compared to an approximate 77 million vehicles in 2020.