North American industrial fasteners is estimated to display a steady CAGR of 4.2% during the forecast period (2021-2027). The demand for industrial fasteners in the residential sector is expected to witness higher growth in North America, especially in the US where more than 75% of the demand is expected to arise. In addition, the region has one of the toughest laws pertaining to innovations in manufacturing and industrial production. Thus, regulations in this region often form the basis for most product development efforts. Moreover, strict regulations regarding energy efficiency have been boosting the development of manufacturing technologies in North America. This, in turn, presents many growth opportunities for vendors in the region. The demand for fasteners market in the region is driven by the massive size of end-user industries such as automotive, aerospace, defense, marine, and healthcare.
Browse the full report description North American industrial fasteners Market Size, Share & Trends Analysis Report by Product Type (Threaded, Non-threaded, and Specialty), by Material (Metal and Non-metal), and by End-user (Automotive, Aerospace, Construction, Consumer Appliance and Furniture, and Industrial and Consumer Machinery) Forecast Period (2021-2027) at https://www.omrglobal.com/industry-reports/north-american-industrial-fasteners-market
Further, the automobile sector in the North American region is likely to witness major investments during the forecast period, which is likely to promote improvements as well. For instance, FCA US, Ford, and General Motors made more than $34.50 billion in investments. Their reported spending in US plants is approximately five times more than all Japanese and Korean automakers combined. Expenditures by North American automakers were four times higher than the total expenditures of the four major European automakers operating in the US (BMW, Daimler, Volvo, and VW), which have spent just $9 billion over the last five years. These expansions in the automotive sector will stimulate the demand for industrial fasteners in the region.
Market Coverage
Key questions addressed by the report
o Recovery Timeline
o Deviation from pre-COVID-19 forecast
o Most affected country and segment
North American industrial fasteners Market Report Segment
By Product Type
By Material
By End-user
North American industrial fasteners Market Report Segment
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