Global industrial fasteners market to reach $127.3 billion by 2030
Learn main facts from the report "Global Industrial Fasteners Industry"
Information source: GlobeNewswire.
In the changed post COVID-19 business landscape, the global market for Industrial Fasteners estimated at US$89.7 Billion in the year 2022, is projected to reach a revised size of US$127.3 Billion by 2030, growing at aCAGR of 4.5% over the period 2022-2030.
Metal, one of the segments analyzed in the report, is projected to record 4.3% CAGR and reach US$112.4 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Plastic segment is readjusted to a revised 5.8% CAGR for the next 8-year period.
The U.S. Market is Estimated at $16.9 Billion, While China is Forecast to Grow at 6% CAGR.
The Industrial Fasteners market in the U.S. is estimated at US$16.9 Billion in the year 2022. China, the world`s second largest economy, is forecast to reach a projected market size of US$25.7 Billion by the year 2030 trailing a CAGR of 6% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3% and 3.7% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 3.3% CAGR.