Electric Vehicle Fasteners Market to Reach $20 Billion by 2030, Driven by EV Growth
Detroit, March 20, 2025 – The global Electric Vehicle (EV) Fasteners Market is experiencing robust growth, projected to increase by 13.5% annually from 2024 to 2030. According to a recent analysis by Stratview Research, the market is anticipated to reach a size of US$20 billion by the close of the decade. This expansion is being fueled by the continued rise in electric vehicle production and supportive government regulations worldwide.
Stratview Research’s in-depth report provides a comprehensive evaluation of the global and regional EV fastener market. The analysis includes industry forecasts, identification of current and emerging trends, detailed segment analysis, and a review of the competitive landscape.
Market Highlights:
- Market Size in 2030: US$20 Billion
- Compound Annual Growth Rate (CAGR) (2024-2030): 13.5%
- Forecast Period: 2024-2030
- Trend Period: 2018-2022
- Base Year: 2023
- Number of Segments Covered: 7
- Number of Tables & Graphs: 100+
- Country-Level Market Assessment: 20
Segment Insights into the Electric Vehicle (EV) Fasteners Market
The EV fasteners market is categorized based on several factors: vehicle type, EV type, application type, material type, threading type, and fastener type. A regional analysis is also included.
Based on Vehicle Type: The market is segmented into light vehicles (LV) and medium and heavy commercial vehicles (M&HCV). Light vehicles, including passenger cars and light commercial vehicles (LCVs), are anticipated to lead the market owing to rising motorization rates and increased production volumes in these segments.
Based on EV Type: The market is segmented into Battery Electric Vehicles (BEV) and hybrid vehicles. Hybrid vehicles are predicted to dominate the market through the forecast period. Support from government policies and higher consumer acceptance are driving these developments.
Based on Material Type: Metal and plastic are the main materials used. Metal fasteners are expected to remain the most preferred material type because of their benefits, such as high tensile strength and recyclability. Plastic is projected to be the fastest-growing material due to properties like lightweight and corrosion resistance.
Based on Threading Type: Threaded fasteners are projected to lead the market as they provide reliable and easily removable joints.
Based on Application Type: The ‘body in white’ application, the basic framework of a car, currently has the largest share of the EV fasteners market and is expected to retain its dominant position.
Based on Fastener Type: Rivets currently hold the dominant market position, driven by advancements in assembly methods. Nuts hold the second dominant position of the market owing to their versatility, cost-effectiveness, strength, and adaptability to various materials and applications.
Regional Outlook
Asia-Pacific is expected to remain the largest market for EV fasteners throughout the forecast period. This growth is primarily supported by the presence of key EV manufacturers such as BYD, NIO, Toyota, and Hyundai, in addition to strong government support and massive investment in EV infrastructure. China specifically is leading the global and Asia-Pacific EV fastener markets.
Europe and North America are also expected to generate considerable demand for EV fasteners. The USA, Germany, France, and the UK are key markets, owing to their well-established automotive industries and commitment to innovation within electric vehicle technologies.
Key Market Drivers:
The report identifies several key factors driving the growth of the EV fasteners market:
- The rising production of electric vehicles.
- The increasing adoption of EVs, driven by environmental concerns.
- Government incentives and policies.
- Advances in EV technology.
- Stricter environmental regulations.
- The expansion of EV charging infrastructure.
Competitive Landscape
The EV fasteners market is highly fragmented with over 50 players. The leading market players produce fasteners for the automotive industry and other sectors like aerospace, electronics, and construction. Some of the major players include:
- ITW
- Aoyama Seisakusho Co., Ltd.
- Stanley Black & Decker, Inc.
- Shanghai Prime Machinery Co., Ltd.
- Lisi Automotive
- Bulten AB
About Stratview Research
Stratview Research is a global market research firm specializing in the aerospace & defense and chemicals industries, among others. The company offers customized research services to aid businesses’ global and regional growth objectives. These include market assessment, opportunity screening, and market entry strategies.
