The US industrial fasteners market is anticipated to grow at a significant CAGR of 4.2% during the forecast period. Apart from automotive, aerospace, and machine manufacturing, building and infrastructure construction is also expected to drive the demand for fasteners in the US. The housing market started to recover due to first-time home purchases by millennials. An estimated half of new home purchases in the US are by millennials. The median age of first-time home purchasers fell to 32 years; this segment of buyers is technologically inclined, cares about the environment, uses energy-efficient products, and is receptive to the adoption of products and services that can bring in associated benefits. This buyer segment forms a key driver for revival in the housing segment; thus, the accompanying demand for tools and components is deemed to be necessary for enabling the same.

Further, there is a high prevalence of automation in the country driven by better availability of tech-enabled processes and sophisticated components, strict energy consumption mandates, and high labor costs. Wages in the US are as high as $7.25 per hour as prescribed by the federal government as of July 2016. Mechanization is often preferred over crude manual efforts across various end-user industries. Taking all these into account, the US industrial fastener market is set to expand significantly in the coming years.

On the other hand, the outbreak of the COVID-19 pandemic has resulted in significant decline in the sales of industrial fasteners in the country, as most of the end-user industries suffered severely. However, post COVID, construction industry in the US is expected to gain slow and steady momentum. The residential as well as commercial industries will gain momentum post the 3rd quarter of 2020, which will result in an increased demand for industrial fasteners within the country.

The US 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.

Research Methodology

The market study of the US 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. US Industrial Fasteners Market Research and Analysis by Product Type
2. US Industrial Fasteners Market Research and Analysis by Material
3. US Industrial Fasteners Market Research and Analysis by End-user

The Report Covers

• Comprehensive research methodology of the US 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 US industrial fasteners market.
• Insights about market determinants which are stimulating the US industrial fasteners market.
• Detailed and extensive market segments with the regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.