Global Automotive Fasteners Market 2018-2022| Cost Advantages of Using Plastic Automotive Fasteners to Augment Growth| Technavio
Aug. 22, 2018
LONDON--(BUSINESS WIRE)--Aug 22, 2018-- analysts forecast the global automotive fasteners market to grow at a CAGR of over 4% during the forecast period, according to their latest market research report.
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Technavio has published a new market research report on the global automotive fasteners market from 2018-2022. (Graphic: Business Wire)
The new forms and functions in fastening technology is one of the major trends being witnessed in the . The automotive industry is growing rapidly based on technological advancements. So, to sustain in the market, automotive component manufacturers are adopting new technologies. Automotive fastener manufacturers have expanded their product offerings to comply with technological advancements.
According to Technavio analysts, one of the key factors contributing to the growth of the global automotive fasteners market is the cost advantages of using plastic automotive fasteners:
Global automotive fasteners market: Cost advantages of using plastic automotive fasteners
Plastics are replacing metal in numerous automotive applications. For example, plastic clips are replacing metal brackets, which are used in automotive fluid routing assemblies as mounting supports for heating, ventilation, and air conditioning and brake lines.
According to a senior analyst at Technavio for research on automotive components, “There are multiple cost advantages in using plastic in place of metals. Plastic fasteners’ non-corrosiveness and versatility to make complex shapes would drive the global automotive fasteners market during the forecast period.”
Global automotive fasteners market: Segmentation analysis
The global automotive fasteners market research report provides market segmentation by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
APAC led the market in 2017 with a market share of nearly 53%. The region is expected to dominate the market through 2022, with an increase in its market share.
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket definition Market size and forecast
Five Forces Analysis
Geographical SegmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
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