Truck fasteners are mechanical components that are used for connecting or connect two or more links and parts of the vehicle. The fasteners are made of aluminum, nickel, stainless steel and others. The key function of automotive fasteners is to hold vehicle and the parts together in order to prevent them from becoming loose and also preventing any leakage of joints. Truck fasteners are considered to be a set of products, including nuts, rivets, studs, snap rings and clips, these are generally used in vehicle assembly or to fix any part of the vehicle. The fasteners are also designed specifically for the particular model or brand of vehicle. They can be permanent or non-permanent attachments, which connect objects permanently or temporarily.
Referring to the study, Global Truck Fastener Industry Research Report 2021 Segmented by Major Market Players, Types, Applications and Countries Forecast to 2027. Some of the key companies operating in the global truck fastener market include Altenloh, Brinck&Co (ABC), Agrati Group, Schotte Automotive Fasteners, Araymond, AFI Industries, AFC Industries, Driv – Lok, Facil, Automotive Fasteners, ATF,TR Fastenings and among others. The key manufacturers of automotive fasteners are now focusing on the development of much advanced & lightweight material fasteners. Moreover, the increase in demand of lightweight & cost-efficient vehicles have further contributed towards the revenue growth and adding to the lucrative business opportunities in the automotive fasteners market globally.
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Based on types, truck fastener market can be segmented as threaded fasteners and non-threaded fasteners. Threaded automotive fasteners, also called bolts, have a head on one end and are secured with a nut on the other end. A without thread fastener, on the other hand, does not have internal threads to hold it with other components. These fasteners have different mechanisms for attaching the mechanical components. In addition, based on application, market can be segmented as heavy duty tractors and light & medium duty tractors.
Rise in consumer preferences for using lightweight vehicles followed by amplified spending capacity by end users & rising urbanization, increase in disposable income, significant growth in automotive industry and cost advantage of using plastic automotive fasteners are some major factors, which are responsible for growth of the truck fastener market. Moreover, growth in the number of semi-autonomous cars, significant developments in power-train innovations and growth in the electric vehicle industry are leading opportunities for global market.
Based on regional analysis, the Asia-Pacific is a leading region in global truck fastener market owing to increase in number of small & medium-scale manufacturers of the automotive parts, growth in adoption of electric vehicles, increase in aftermarket sale of vehicle fasteners and growth in production of automobiles across the region. The North-America and Europe regions are estimated to witness higher growth rate due to rise in demand for fuel-efficient vehicles over the forecast period. It is projected that future of the global truck fastener market will be bright on account of stringent rules & regulations regarding vehicle emission coupled with growth in vehicle production during the forecast period.
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Global Truck Fastener Market Research Report : Ken Research
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