Electric Vehicle (EV) Fasteners Market is Forecasted to Reach US$ 20 Billion in 2030, Says Stratview Research

/EIN News/ -- Detroit, March 20, 2025 (GLOBE NEWSWIRE) -- The global Electric Vehicle (EV) Fasteners Market is projected to witness a growth rate of 13.5% annually from 2024 to 2030, with an anticipated size of US$ 20 billion by 2030, according to an analysis by Stratview Research.

Stratview Research, a global market research firm, has launched a report on the global Electric Vehicle (EV) Fasteners Market, which provides a comprehensive outlook of the global and regional industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.

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Report Highlights

Market Size in 2030 (billion US$)	20
Growth (CAGR)	13.5% during 2024-2030
Forecast Period	2024-2030
Trend Period	2018-2022
Base Year	2023
Number of Segments Covered	7
Number of Tables & Graphs	100+
Country-Level Market Assessment	20

Segment Insights on the Electric Vehicle (EV) Fasteners Market:

The global Electric Vehicle (EV) Fasteners Market is segmented based on vehicle type, EV type, application type, material type, threading type, fastener type, & region 

Based on vehicle type: The EV fasteners market is segmented into LV and M&HCV. Despite utilizing fewer fasteners than medium- and heavy-duty vehicles, light vehicles are expected to maintain the leading position in the market throughout the forecast period. LV (light vehicle) includes passenger cars and LCVs (light commercial vehicles). Increasing motorization rates and higher production of passenger cars and LCVs are the key factors behind its dominance.

Based on EV type: In terms of EV type, the market is segmented into BEV and hybrid. Driven by their complex component requirements, increasing production volumes, and critical structural and safety needs. Hybrid vehicles are projected to dominate the EV fasteners market during the forecast period. Other factors include higher consumer acceptance compared to BEVs and government policies supporting hybrid vehicle manufacturing in various regions. Hybrid vehicles need robust fasteners to secure batteries, engines, and other components effectively.

Based on material type: In terms of material type, the market is segmented into metal and plastic. Metal fasteners are expected to remain the most preferred and faster-growing of the market during the forecast period. Metal is the most preferred material type in the market owing to its advantages, such as high tensile strength, resistance to rust and heat, shockproofing, recyclability, versatility, compatibility with coatings, cost-effectiveness, high machinability, and resistance to wear and tear.

Plastic is expected to remain the fastest-growing material type during the forecast period owing to its properties, such as lightweight, cost-efficient production, corrosion resistance, excellent electrical insulation, design flexibility, and eco-friendly innovations.

Based on Threading Type: In terms of threading type, the market is segmented into threaded and non-threaded fasteners. Threaded fasteners are projected to maintain their dominance and experience faster growth in the market throughout the forecast period.

The market is split into threaded and non-threaded fasteners based on threading type. Threaded fasteners provide reliable and easily removable joints, and hence, they are used in many automobile parts, ensuring their continued demand and growth.

Threaded fasteners’ ability to be easily assembled, disassembled, and reused for repairs or maintenance contributes to their widespread use and market expansion.

Based on application type: In terms of application type, the market is segmented into Body in White, Engine & Powertrain, Chassis, Interior, Exterior, and Other Applications. The body in white is the largest application for EV fasteners and is expected to retain its dominant position in the forecasted period. The body in white is the basic framework of a car; it requires a large number of fasteners to provide strength and stiffness to the structure.

Vehicle bodies are subjected to stringent safety regulations, which include fasteners for securing components. Trends towards lightweight car body construction also require specialized fasteners. The fasteners used for the body in the white application must be adapted to these new designs and performance specifications.

Based on fastener type: In terms of fastener type, the market is segmented into clips, nuts, bolts, screws, rivets, and other fastener types. Rivets hold the dominant market position. Technological advancements within assembly methods, including self-piercing rivets and automated riveting systems, drive the demand for rivets in modern ft assembly processes.

Nuts hold the second dominant position in the market. Nuts play a crucial role in EV fasteners owing to their versatility, cost-effectiveness, strength, and adaptability to various materials and applications. Key applications of nuts include engines, suspension, chassis, interior components, and body assemblies. They are compatible with bolts, screws, and threaded studs, making them versatile fasteners.

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Which Region Shows the Most Promising Growth Forecast and Opportunity?

The analysis suggests that the Asia-Pacific is expected to remain the largest market for EV fasteners during the forecast period. This growth outlook is majorly attributed to the following:

• The market is segmented by region into North America, Europe, Asia-Pacific, and the Rest of the World.
• Key factors driving the Asia-Pacific’s dominance include higher production of passenger cars and LCVs, particularly in China, Japan, and South Korea; the presence of key EV manufacturers (such as BYD, NIO, Toyota, and Hyundai); government incentives and policies; and massive investment in EV infrastructure in the region.
• China leads the global and Asia-Pacific EV fastener markets, fueled by its massive EV production capacity, strong government support, and well-established supply chain infrastructure.

Likewise, Europe and North America are also projected to generate sizeable demand for EV fasteners during the forecast period. The USA, Germany, France, and the UK stand out as key markets for EV fasteners, driven by their strong automotive industries, manufacturing expertise, and focus on innovation in electric vehicle technologies.

Electric Vehicle (EV) Fasteners Market Drivers:

Some of the key drivers listed in the report are given below.

• The rise in electric vehicle production, the increasing adoption of EVs fueled by environmental concerns, government incentives, advancements in EV technology, stricter environmental regulations, and the expanding EV charging infrastructure.
• Other factors include an increase in motorization rate, the development of advanced lightweight materials and unique fasteners for fuel efficiency and safety, customization and modular vehicle designs creating a need for more fasteners, and safety regulations, which include advanced and high-strength fasteners for securing components.

Top Companies in the Electric Vehicle (EV) Fasteners Market:

The market is highly fragmented, with over 50 players. Most of the major players compete in some of the governing factors, including price, service offerings, regional presence, etc. Leading players manufacture fasteners not only for the EV (including the automotive industry) but also serve a wide range of other industries, such as aerospace, electronics, medical, construction, etc. Stratview Research has identified the following companies as the top market players:

• ITW
• Aoyama Seisakusho Co., Ltd
• Stanley Black & Decker, Inc.
• Shanghai Prime Machinery Co., Ltd.
• Lisi Automotive
• Bulten AB

What Deliverables Will You Get in This Report?

Key questions this report answers	Relevant contents in the report
How big is the sales opportunity?	In-depth analysis of the Electric Vehicle (EV) Fasteners Market
How lucrative is the future?	Market forecast and trend data and emerging trends
Which regions offer the best sales opportunities?	Global, regional, and country-level historical data and forecasts
Which are the most attractive market segments?	Market segment analysis and forecast
Who are the top players and their market positioning?	Competitive landscape analysis, Market share analysis
How complex is the business environment?	Porter’s five forces analysis, PEST analysis, Life cycle analysis
What are the factors affecting the market?	Drivers & challenges
Will I get the information on my specific requirements?	10% free customization

For Customization or Any Other Queries, Get in Touch with Our Industry Experts at - sales@stratviewresearch.com

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