Demand for Industrial Fasteners to Rise 8.5% Annually Through 2014
This report assesses the global demand for industrial fasteners, industrial faster technologies, and industrial fasteners markets.
Rockville, MD, October 01, 2010 --(PR.com)-- MarketResearch.com has announced the addition of Freedonia Group Inc’s new report “World Industrial Fasteners” to their collection of Machines & Parts market reports. For more information, visit http://www.marketresearch.com/product/display.asp?ProductID=2807937.
According to the report, world demand for industrial fasteners is forecast to expand 8.5 percent per year to $80.5 billion in 2014. Fastener producers will benefit as countries around the globe recover from the worldwide recession of 2009. Global motor vehicle output will make a strong recovery from the declines registered during the 2004-2009 period, bolstering associated fastener demand. World fixed investment levels will continue to increase and the global durable goods manufacturing environment will improve, both of which will support increased fastener sales.
The Asia/Pacific region will register the strongest sales increases through 2014, paced by healthy 12.8 percent annual demand gains in China. China surpassed Japan to become the world’s largest manufacturer of motor vehicles in 2009, providing industrial fastener producers with important new sales opportunities as output continues to climb.
Chinese fastener output is forecast to rise even faster than the country’s demand through 2014. While US-based producers made more fasteners in value terms in 2009, Chinese suppliers will easily surpass them by 2014, and the country will become the world’s leading manufacturer. Foreign firms will continue to establish manufacturing facilities in China to take advantage of lower production costs.
Producers in developed areas such as the US, Japan and Western Europe will continue to lead the world in production of more advanced, highly-engineered fasteners. However, Chinese firms are narrowing the technological gap as their access to capital grows and they acquire more manufacturing experience.
Historically, advances in industrial fastener demand in the developed areas of the US, Western Europe and Japan have been much slower than in the developing world. However, this will not be the case in all areas through 2014, as fastener demand in many developed countries bounces back following the slump in durables manufacturing that hit in 2008 and 2009. Growth in these areas will be supported largely by solid recovery in motor vehicle manufacturing and accelerating growth in durable goods manufacturing output.
For more information, visit http://www.marketresearch.com/product/display.asp?ProductID=2807937.
Contact:
Veronica Franco
MarketResearch.com
vfranco@marketresearch.com
240.747.3016
###
According to the report, world demand for industrial fasteners is forecast to expand 8.5 percent per year to $80.5 billion in 2014. Fastener producers will benefit as countries around the globe recover from the worldwide recession of 2009. Global motor vehicle output will make a strong recovery from the declines registered during the 2004-2009 period, bolstering associated fastener demand. World fixed investment levels will continue to increase and the global durable goods manufacturing environment will improve, both of which will support increased fastener sales.
The Asia/Pacific region will register the strongest sales increases through 2014, paced by healthy 12.8 percent annual demand gains in China. China surpassed Japan to become the world’s largest manufacturer of motor vehicles in 2009, providing industrial fastener producers with important new sales opportunities as output continues to climb.
Chinese fastener output is forecast to rise even faster than the country’s demand through 2014. While US-based producers made more fasteners in value terms in 2009, Chinese suppliers will easily surpass them by 2014, and the country will become the world’s leading manufacturer. Foreign firms will continue to establish manufacturing facilities in China to take advantage of lower production costs.
Producers in developed areas such as the US, Japan and Western Europe will continue to lead the world in production of more advanced, highly-engineered fasteners. However, Chinese firms are narrowing the technological gap as their access to capital grows and they acquire more manufacturing experience.
Historically, advances in industrial fastener demand in the developed areas of the US, Western Europe and Japan have been much slower than in the developing world. However, this will not be the case in all areas through 2014, as fastener demand in many developed countries bounces back following the slump in durables manufacturing that hit in 2008 and 2009. Growth in these areas will be supported largely by solid recovery in motor vehicle manufacturing and accelerating growth in durable goods manufacturing output.
For more information, visit http://www.marketresearch.com/product/display.asp?ProductID=2807937.
Contact:
Veronica Franco
MarketResearch.com
vfranco@marketresearch.com
240.747.3016
###
Contact
MarketResearch.com
Veronica Franco
240.747.3016
www.marketresearch.com/
Veronica Franco
240.747.3016
www.marketresearch.com/
Contact
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