NEW YORK, April 18, 2018 (GLOBE NEWSWIRE) -- According to the new market research report published by P&S Market Research, global automatic self-piercing rivets market is set to reach 45 billion units by 2022, growing at a CAGR of 26.2% between 2016-2022. Increasing focus towards the development of lightweight vehicles is escalating the use of automatic self-piercing rivets across various vehicle segments. This is expected to propel the demand of automatic self-piercing rivets during the forecast period.
In terms of application, the automatic self-piercing rivets market is categorized into conventional vehicles and new energy vehicles. The conventional vehicles are estimated to have more than 55% of the overall automatic self-piercing rivets industry in 2022. This can be attributed to the growing applications of self-piercing rivets in premium cars; however, the self-piercing rivets market is gaining further traction due to the adoption of new energy vehicles segment.
Request to get the sample pages: https://www.psmarketresearch.com/market-analysis/automatic-self-piercing-rivets-market/report-sample
In terms of coating, the automatic self-piercing rivets market is categorized into Almac, aluminum, zinc and others. By 2022, Almac coatings is estimated to have more than 40% of the automatic self-piercing rivets industry. The market is forecasted to grow at a CAGR of 26.2% during the forecast period.
In recent years, the Asian region witnessed increasing traction for self-piercing rivets due to the increasing automotive applications in countries like China and India. This increased traction for self-piercing rivets in the automotive industry has resulted in the growth of the automatic self-piercing rivets market. Majority of automakers are making huge investment in this region. For instance, Maruti Suzuki announced their plans to set up new manufacturing plant in Gujarat. The company is also planning to set up Research and Development (R&D) centre to develop automotive solutions and new products during the forecast period thereby expanding their market presence. Moreover, Hyundai affiliate KIA has plans to set up a manufacturing plant in India to capture the growing automotive market of the Asia-Pacific region.
Browse Full Report with Detailed TOC: https://www.psmarketresearch.com/market-analysis/automatic-self-piercing-rivets-market
Aluminium costs more than other materials used in the production of cars. This in turn inhibits fast adoption of aluminum as the key raw material in the production process. Although, the quantity of aluminum used is reduced while replacing stainless steel, the cost of aluminum is still higher than that of stainless steel. Due to price sensitivity, the use of aluminum for production of vehicles in developing countries is expected to witness low growth as compared with other countries. Thus, the high cost of aluminum is a major barrier to the automatic self-piercing rivets market growth.
The North American market for automatic self-piercing rivets is expected to reach 11.6 billion units by 2022. The growth in the North American market can be attributed to the government support, growth in the premium car segment and changing lifestyles. Based on application, new energy vehicles witnessed the fastest growth rate in the North American automatic self-piercing rivets market, in terms of volume, while conventional vehicles are expected to account for the largest share.
Some of the key players in the global automatic self-piercing rivets market include STANLEY Engineered Fastening, Henrob Ltd, TOX PRESSOTECHNIK GmbH & Co.KG, ECKOLD AG, Richard Bergner Holding GmbH & Co. KG, Wilhelm Bollhoff GmbH und Co. KG.
More Published Reports by P&S Market Research
Automotive Air Suspension System Market
Among the two technologies of automotive air suspension system, the manual air suspension held the larger share in the global automotive air suspension system market in 2015. However, the electronic air suspension systems segment is the faster growing segment.
Automotive Sunroof Market
Automotive sunroof refers to any roof opening in vehicle, such as one with a retractable metal panel. Modern sunroof consists of around 200 parts, and vehicle maker now use them and other roof system to help differentiate product offering to customers.
About P&S Market Research
P&S Market Research is a market research company, which offers market research and consulting services for various geographies around the globe. We provide market research reports, industry forecasting reports, business intelligence, and research-based consulting services across different industry/business verticals.
As one of the top growing market research agency, we’re keen upon providing market landscape and accurate forecasting. Our analysts and consultants are proficient with business intelligence and market analysis, through their interaction with leading companies of the concerned domain. We help our clients with B2B market research and assist them in identifying various windows of opportunity, and framing informed and customized business expansion strategies in different regions.
Contact:
P&S Market Research
347, 5th Ave. #1402
New York City, NY - 10016
Toll-free: +1-888-778-7886 (USA/Canada)
Email: enquiry@psmarketresearch.com