The industrial fasteners market in India is growing at a CAGR of 6.0% and is majorly driven by the growing automotive industry. The market is highly fragmented with application-specific or product-specific vendors operating out of hubs in South, Western, and Northern India. The cluster of manufacturing hubs is aimed at quicker delivery to end-markets. The availability of machine tools with high-end machinery manufactured in India, while China focuses on low-end machine tools, is driving the investment in the manufacturing of specialty fasteners. Also, the ease of availability of steel, aluminum, and copper (either domestic or easily imported from other countries of Asia-Pacific) is enabling local vendors to scale up operations and provide high-quality assembly products with a high-cost advantage. 

The construction industry faced a huge downfall in 2020, especially during Q1 and Q2 2020 owing to the COVID-19 pandemic, where infrastructural activities were brought to a complete halt. The rising unemployment in the residential sector is also a challenging factor for construction-oriented industries. The construction market is also expected to contract by 7– 8% in 2020 despite its slow revival in the latter half of 2020. However, growth can be more certain post-2021, where India is expected to contribute over $635 billion to the global construction market by 2022. With the increasing construction industry in the next years, the demand for industrial fasteners will grow parallelly in India.

The Indian industrial fasteners market is segmented based on product type, material, and end-user. Based on product type, the industrial fasteners market is segmented into threaded, non-threaded, and specialty. Based on material, the industrial fasteners market is segmented into metal and non-metal. On the basis of end-user, the market is classified into automotive, aerospace, construction, consumer appliance and furniture, and industrial and consumer machinery. Emerging nations such as India, Brazil, and South Africa have seen tremendous growth opportunities in the aerospace industry over the last five years with increased investments. The aerospace industry in India was worth more than $7 billion and is expected to make strong procurements of military aircraft during the forecast period from EU-based aerospace vendors.

Research Methodology

The market study of the India industrial fasteners market is incorporated by extensive primary and secondary research conducted by the research team at OMR.  Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity in our reports.

Secondary Sources Include

• Financial reports of companies involved in the market.
• Whitepapers, research-papers, and news blogs.
• Company websites and their product catalog.

The report provides an in-depth analysis of market size, intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.

Market Segmentation

1. India Industrial Fasteners Market Research and Analysis by Product Type
2. India Industrial Fasteners Market Research and Analysis by Material
3. India Industrial Fasteners Market Research and Analysis by End-user

The Report Covers

• Comprehensive research methodology of the Indian industrial fasteners market.
• This report also includes a detailed and extensive market overview with the key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the Indian industrial fasteners market.
• Insights about market determinants which are stimulating the Indian industrial fasteners market.
• Detailed and extensive market segments with the regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.