Blogglobal industrial fasteners will hit over $100 billion by 2023
Global Industrial Fasteners Will Hit Over $100 Billion by 2023
Steve Carl wrote an article for Mobile Computing Today that talks about how Credence Research is extrapolating that the fasteners markets to be reaching over $100 billion dollars by 2023. The report by Credence Research, Inc is “Industrial Fasteners Market (By Application (Original Equipment Manufacturing, Construction, and Maintenance/Repair/Operation (MRO)), By Product Type (Standard Fasteners (External Threaded, Internal Threaded, and Non-Threaded), Aerospace-grade Fasteners, and Other Application-specific Fasteners)) – Growth, Share, Opportunities, Competitive Analysis, and Forecast 2016 – 2023.”
In 2015, the four top industrial fastener manufacturers accounted for lass then 45% of the global market revenue. These top four industrial fastener manufacturers include Precision Castparts Corporation (the U.S.), Stanley Black & Decker Inc (the U.S.), Wilhelm Bollhoff GmbH & Co. KG (Germany), and Nitto Seiko Co., Ltd. (Japan). Because there isn’t a lot of product differentiation, there are a lot of price wars that occur to the manufactures to get business. This is where manufacturers try to focus on product enhancements now.
Here at ASAP Parts Services, an ASAP Semiconductor owned company, we have the resources to supply a vast array of Fasteners products. We provide our customers with a simplified and speedy procurement process. We ensure that our customers production lines and prototype builds are always up and running effectively. We offer cost-effective aerospace and electronic component solutions by improving our customers’ negotiation power. If you are interested in getting a quote, please feel free to contact our friendly sales staff at email@example.com or call us at +1-702-919-1616.
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