Screw Fastener Market – Introduction
A screw fastener is made of metal and is used to fasten materials by digging in and wedging into a material. Thread cuts grooves in the fastened material helps to pull fastened materials together and prevent pull-out. These fasteners are self-tapping in and requires a pre drilled hole. Screw fasteners are available in two types: left handed screw and right handed screw.
Screw Fastener Market – Competitive Landscape
Fastenal Company
Fastenal Company was founded in 1967 at Winona, Minnesota, the United States by Bob Kierlin. The company has 2,227 employees and a presence in 26 countries. It has 894 onsite locations. The company provides fasteners, tools, and supplies to manufacture products, build structures, protect personnel, and maintain facilities and equipment. Fastenal Company provides products and solutions to many industries such as Abrasives, Adhesives, Sealants & Tape, Cutting Tools & Metalworking, Electrical, Electronics & Batteries, Fasteners, Lifting & Rigging, Safety and Security.
KAMAX Holding GmbH & Co. KG
In 1935 Dr. Rudolf Kellermann established KAMAX Holding GmbH & Co. KG to manufacture screws and threaded parts. The company has 16 worldwide locations and 3,500 employees. It provides screw fasteners for automotive solutions such as body, brakes, drive train, electrical, engine, seating, steering, suspension, and wheels.
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Gem-Year Industrial Co., Ltd
In 1995, Gem-Year Industrial Co., Ltd. was founded and is based in China. The company provides fasteners and hardware tools. Under fasteners, the company sells bolts, nuts, screws, fully threaded studs, and washers. Under hardware tools, the company sells air tool, auto repair tool, cutting tools, electronic tool, hex key, hydraulic & lifting, master tool set, measuring tools, other hand tool, pliers, safety & security, sockets and ratchet, screwdriver bits, striking tools, tools storage and torque wrench.
Some of the key players operating in the global screw fastener market include Acument Global Technologies, Arconic, Big Bolt Nut, Ciser Fasteners, Cooper & Turner Ltd., Dokka Fasteners Inc., LISI SA, Marmon Group, NingBoXinXing Fasteners Manufacture Co., Ltd., NITTO SEIKO CO., LTD., Ogland Group Holding As, Penn Engineering & Manufacturing Corp., Shanghai Jianxin Hardware Co.,Ltd., Stanley Black & Decker, Inc., TR Fastenings Limited, and TVS Group
Screw fastener Market – Dynamics
Booming Construction Industry
According to the Bureau of Labor Statistics and a report from Timetric’s Construction Intelligence Center (CIC), the construction industry is booming and is projected to be the fastest growing industry in 2024. The market is expected to reach almost US$ 1.2 Trillion by 2024 with a projected growth of 4.5% over the years. Additionally, According to the Global Construction Report 2030, India, China, and the U.S. are three major countries contributing 57% to the global growth of the construction industry.
Growing Automotive Industry
The automotive industry is expected to witness enormous growth across the world over the forecast period. This growth is attributed to the increased manufacturing of automobiles since automakers are constantly developing drive-trains and more efficient engines to reduce fuel consumption and are using emission-control technology to produce cleaner automobiles. The global volume of the automotive industry is expected to approximately reach 95 million in 2018 and 97 million in 2019. China, India, and East Europe are projected to be emerging markets globally.
Disposable Income
Per capita disposable income exhibits low volatility in developed countries because of spike in double-income households. This has directly boosted consumer purchasing power. Positive economic development paired with the low inflation has created a concrete foundation in almost every country in the global market.
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Screw Fastener Market – Segmentation
The screw fastener market can be bifurcated on the basis of:
- Product
- Material
- Application
- Distribution Channel
- Region
Screw Fastener Market Segmentation – By Product
Based on product, the screw fastener market can be divided into:
- Deck Screws
- Hex Lag Screws
- Self-Drilling Screws
- Sheet Metal Screws
- Wood Screws
Screw Fastener Market Segmentation – By Material
Based on material, the screw fastener market can be divided into:
- Steel
- Copper
- Aluminum
- Other
Screw Fastener Market Segmentation – By Application
Depending on the application, the screw fastener market can be divided into:
- Automotive Industry
- Machinery Industry
- Construction Industry
- MRO
- Others
Screw Fastener Market Segmentation – By Distribution Channel
Based on distribution channel, the screw fastener market can be divided into:
- Online
- Offline
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