Forecast and demand scale analysis of the global and Chinese fastener industry market in 2021
2021-11-23
Fasteners are the most widely used basic components in industry, known as "industrial rice". Fasteners is the feature of variety specification is various, USES different performance, high degree of standardization, seriation, generalization and application field widely, involves many departments, national economy is widely used in various kinds of machinery, equipment, vehicles, ships, railways, Bridges, buildings, structures, tools, instruments, chemical, instrumentation and other products. The bearing of the main application industry is high, the demand for fasteners, further stimulate fastener enterprises to expand production capacity, main application field of technological progress and industrial upgrading, for fasteners, further improve the performance and quality demands, fastener industry will promote technology progress, promote the fastener product quality; The development of new application fields will expand the market demand for fasteners and promote the diversification of fastener products. In recent years, China's fastener industry basically remained stable flat growth, overall, the global economic growth and the domestic economy downward pressure increasing, the influence of fasteners, the downstream demand growth, especially domestic fastener low-end products serious excess capacity, but the supply of high-end products, fastener industry from high speed growth to quality growth. Cicc QICIN International Consulting Co., Ltd. publishes the Report on In-depth Investigation, Analysis and Investment Risk Prediction and Evaluation of China's Fastener Industry (2021-2027) (1) Industry definition and classification: Fastener is a general term for a kind of mechanical parts used when fastening two or more parts (or components) into a whole, mainly including: Bolts, studs, screws, Nuts, Tapping Screws, wood screws, retaining rings, washers, pins, rivets, assemblies and connecting pairs, welding nails and other 12 categories, is used for fastening connections and widely used in a class of mechanical parts. (2) Overview of the global fastener industry: The demand for fasteners is mainly driven by commodity price fluctuations, including coal, copper and iron ore prices, product life cycle, competitive pressure and other economic factors affecting the construction and equipment industry. The global market size for industrial fasteners was estimated at $83.34 billion in 2018. The global market for industrial fasteners is expected to grow at a high rate thanks to the great improvement in living standards, which stimulates demand for durable goods. The global market for industrial fasteners is expected to grow at a CAGR of 4.1% during the forecast period 2019-2025, reaching US $110.24 billion by 2025. The fastener manufacturing trend is moving towards the production of innovative products (e.g., specialty, micro and hybrid fasteners) in response to changing consumer needs, which bodes well for the growing market in the future.
