October 26, 2016 02:04 PM Eastern Daylight Time
LONDON–(BUSINESS WIRE)–Technavio analysts forecast the global industrial fasteners market to grow at a CAGR of close to 4% during the forecast period, according to their latest report.Technavio analysts forecast the global industrial fasteners market to grow at a CAGR of close to 4% through 2020.
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The research study covers the present scenario and growth prospects of the global industrial fasteners market for 2016-2020. The report also presents the vendor landscape and a corresponding detailed analysis of the top vendors in the market. It also examines key emerging trends and their influence on current and future market scenarios.“Manufacturing has always been a key driving force of economic development, especially in emerging economies. The global manufacturing value added (MVA) was valued at USD 9.2 billion in 2014 with the emerging economies experiencing an increase by 2.4 times from figures of 2000, wherein GDP grew two times. This underlines the importance of manufacturing industries, many of which utilize industrial fasteners in either upstream or downstream value chain processes,” says Gaurav Mohindru, a lead analyst at Technavio for tools and components research.
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Technavio heavy industry analysts highlight the following three factors that are contributing to the growth of the global industrial fasteners market:
Emergence of self-clinching fasteners
Increased used of in-die feeding systems
Increased demand from end-users: Nuclear and construction industries
Emergence of self-clinching fastenersSelf-clinching fasteners come in a wide array of types and variations. They help to reduce the number of attachment hardware, such as lock washers, loose washers, and nuts, significantly as only a single mating piece is required to complete the assembling process. The assembling process becomes easy and fast as few components are required. With proper installation, these fasteners perform their function reliably and efficiently without any further intervention.
For thin metal assemblies, self-clinching fasteners are a reliable solution that offers reusable and permanent load-bearing threads. These are ideal for applications that involve thin sheet metals that require good pullout and torque loads to provide safe fastening. They are often installed during the fabrication process.
Increased used of in-die feeding systems (…)
