Market Overview
The India fasteners market was valued at USD 10.73 Billion in 2024 and is expected to reach USD 16.25 Billion by 2033. The market is projected to grow steadily during the forecast period from 2025 to 2033 with a compound annual growth rate (CAGR) of 4.72%. Growth is driven by expanding automotive, construction, and industrial sectors alongside increasing demand for high-performance and lightweight fasteners, supported by government initiatives like "Make in India". This overview provides key insights into the current market trajectory. the report offers a comprehensive analysis of the industry, including India fasteners market growth, share, trends and regional insights.
How AI is Reshaping the Future of India Fasteners Market
- AI enhances precision in manufacturing processes for high-performance and lightweight fasteners used in automotive and aerospace sectors.
- The "Make in India" initiative benefits from AI-driven production optimization, facilitating advanced materials like aluminum and titanium usage.
- AI supports supply chain optimization and procurement strategies, aiding companies like JSW Group in securing raw material supplies.
- Automated AI inspection improves quality control of corrosion-resistant stainless steel and coated fasteners crucial for infrastructure and renewable energy.
- AI-powered analytics drive competitive intelligence and innovation, exemplified by industry events such as FASTNEX 2024.
- Strategic partnerships in aerospace manufacturing, like Dynamatic Technologies and Aequs Private Limited, leverage AI insights to strengthen global supply chains.
Recent Developement & News
- January 2025: JSW Group expanded its metal portfolio by acquiring two copper mines in Jharkhand from Hindustan Copper with a ₹2,600 crore investment, strengthening domestic manufacturing and securing raw material supply for the fasteners industry.
- December 2024: Dynamatic Technologies Limited and Aequs Private Limited signed a five-year strategic partnership to supply complex structural parts for the Airbus A220 Door Program, advancing India's aerospace manufacturing capabilities.
- January 2024: Messe Stuttgart India and the Fastener Manufacturers Association of India hosted FASTNEX 2024 in Bengaluru, fostering innovation and business collaboration within the fastener sector.
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Market Growth Factors
The India fasteners market growth is primarily driven by the rising demand for high-performance and lightweight fasteners, notably fueled by the growth in automotive, aerospace, and industrial machinery sectors. Manufacturers emphasize advanced materials such as aluminum, titanium, and composites due to the government's "Make in India" initiative and rising electric vehicle demand. These materials provide superior strength-to-weight performance and durability, essential for critical weight reduction applications, significantly impacting market expansion.
Another significant driver is the increasing adoption of stainless steel and coated fasteners across various industries prioritizing corrosion resistance and longevity. Environmental challenges like high humidity and chemical exposure in construction, marine, and infrastructure sectors have accelerated this trend. The market embraces zinc plating, hot-dip galvanization, and polymer coatings that extend fastener lifespan, reduce operational costs, and meet rising quality requirements, especially in renewable energy projects such as solar and wind power installations.
Market Segmentation
Product:
- Internally Threaded
- Non Threaded
- Externally Threaded
Sales Channel:
- Online
- Offline
End Use:
- Automotive
- Building and Construction
- Aerospace
- Machinery
- Electronics
- Others
Regional Insights:
- North India
- South India
- East India
- West India
Competitive Landscape:
The market research report has also provided a comprehensive analysis of the competitive landscape. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.
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