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U.S. industrial fastener market to return to sustainable growth levels in 2020
- September 29, 2016
- News Release
- Assembly and Joining
The Freedonia Group, Cleveland, has released “Industrial Fasteners,” a study that analyzes the U.S. industrial fastener market. According to the study, the market is expected to return to sustainable growth levels through 2020, following a surge in demand experienced during the recovery-fueled period of 2010 to 2015.
The performance of this industry has always been strongly affected by trends in its largest end-user market, automotive manufacturing. As motor vehicle output moderates, so too will associated fastener demand. The fastest growth in fastener sales will be found in the construction market, as construction activity continues to advance at solid rates through 2020.
The study reports that demand for aerospace-grade fasteners is expected to outpace growth in standard fastener sales, supported by relatively strong conditions in aerospace manufacturing and the increasing use of titanium fasteners.
Growth in the MRO segment for industrial fasteners is expected to be in line with the much larger OEM segment. MRO fastener suppliers will benefit from continued growth in service revenues and industrial output, as well as from rebounding levels of government expenditures. On the other hand, MRO sales will continue to be restrained by fastener-containing equipment being increasingly designed to be replaced rather than repaired.
To view the full report, visit www.reportbuyer.com/product/702276/.
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The Fabricator is North America's leading magazine for the metal forming and fabricating industry. The magazine delivers the news, technical articles, and case histories that enable fabricators to do their jobs more efficiently. The Fabricator has served the industry since 1970.
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