Fasteners, produced and distributed by leading screw manufacturers, encompass a variety of products including nuts,
bolts, washers, screws, clips, clamps, and numerous others. These components serve the vital function of joining different parts within various assemblies across diverse industries. Presently, the global industrial fasteners sector has evolved into a highly competitive landscape, with numerous small, medium, and large-scale companies vying for supremacy in countries such as the United States, Germany, India, and China.
India’s Industrial Fasteners Market on an Upward Trajectory by 2025:
The industrial fasteners industry in India is poised to reach unprecedented heights, with projections indicating a value of approximately INR 7,706 billion by the year 2025, expanding at a Compound Annual Growth Rate (CAGR) of 6.5%. Over the past decade, significant growth in automotive, construction, and manufacturing activities has catalyzed an unparalleled surge in industrial fasteners demand across India, Australia, Brazil, Indonesia, Saudi Arabia, and China. Throughout the forecast period, the demand for industrial-grade fasteners from leading standard and self-tapping screw manufacturers is expected to soar to new heights.
European Region Emerges as a Key Hub for Fastener Manufacturing:
Previously, up until 2017, the Asia-Pacific region dominated the global market share for industrial-grade fasteners production. This dominance was largely attributed to robust growth witnessed in the construction and automotive industries in countries like China and India. Presently, Europe emerges as the primary market for high-quality industrial fasteners produced and supplied by leading self-tapping screw manufacturers. Moreover, the region holds the second-largest position globally in terms of overall annual production.
Challenges Hindering Market Movement:
Despite its prominence, the industrial fasteners market faces several hindrances impeding its growth trajectory. These challenges include:
• Lack of product differentiation
• Volatility in raw material prices, including alloys, stainless steel, and copper
• Inefficiencies in processes, flexibility, and safety measures
• Economic uncertainties stemming from disruptive changes
• Inadequate adaptation to digitalization
• Flaws in individual and automated supply chain and logistics concepts
Indian Industrial Fasteners Market:
The Indian industrial fasteners market has witnessed remarkable growth, particularly over the past 15 years. Recognizing the demand for high-quality industrial fasteners across various sectors, top stainless steel screw manufacturers in India have diversified their product offerings to include:
Exhaust bolts, Balance wheel bolts, Standard hexagon screws/bolts, Socket head cap screws, Socket shoulder screws, Weld nuts, Square nuts, Hexagon nut, Self-tapping screws, among others.
With the Indian government’s ‘Make in India’ initiative gaining momentum, the manufacturing sector, including automobiles, is poised to generate unprecedented demand for high-quality industrial-grade fasteners. Top stainless steel screw manufacturers typically market their products through a diverse range of distribution channels, including distributors, direct dealers, online channels, and industrial events.
Market Segmentation:
The segmentation of the Indian industrial fasteners market is contingent upon various factors, including product applications, type, and market organization. In recent years, the automobile industry has emerged as the largest consumer of industrial-grade fasteners manufactured and supplied by top stainless steel screw manufacturers in India. This is attributable to the proliferation of automobile manufacturing units across the country. Additionally, the construction and engineering sectors have followed suit.
Key Growth Drivers:
The surging sales of automobiles in India have been instrumental in propelling the phenomenal growth of the auto component market in the country. Several standard and stainless steel screw manufacturers in India specialize in producing nuts, bolts, washers, screws, clips, clamps, and various other products for the automobile industry. Key auto components requiring fasteners include engines, suspension systems, wheels, and moldings.
Notable statistics pertaining to India’s automobile industry include:
Projected to become the world’s third-largest market by volume by the end of 2026 and currently producing approximately 25 million vehicles annually, with exports totaling 3.5 million, India’s dominant position lies in heavy vehicle manufacturing, ranking first in tractor manufacturing, second in bus manufacturing, and third in heavy vehicle manufacturing.Moreover, the commercial vehicle segment has witnessed remarkable growth, with exports increasing by 14.5% till April 2019. The automobile sector has consistently attracted significant Foreign Direct Investment (FDI), with the total FDI between June 2019 and April 2020 amounting to approximately 22.4 billion dollars.
Conclusion:
Super Screws stands as a notable player in the manufacturing and supply of industrial-grade fasteners, catering to diverse industries including aerospace, manufacturing, automotive, chemical processing, medical, food and beverage, marine and offshore, metal and mineral mining, and construction. Notably, Super Screws is the sole company in India employing long-length parts technology, offering fasteners up to 500mm in length. The company’s product range spans from M3 to M24, with availability in various diameters, metals, hardness grades, lengths, and conformances to IS, DIN, JIS, ASTM, and BS standards.
