The global automotive fastener and connector market is anticipated to grow, reaching $52.1 billion by 2033 with a CAGR of 4.4%. This growth is primarily driven by the increase in lightweight vehicle manufacturing and the overall growth in vehicle production. The market was valued at $34.2 billion in 2023. Innovations in manufacturing technologies are providing opportunities for further growth, although the market faces challenges such as increasing alternatives for fasteners and rising material costs. The threaded segment is currently dominating the market due to the rise in automotive sales and advancements in lightweight, safe, and durable fastener/connector technology. The non-threaded segment is also expected to grow significantly, aligning with the industry's focus on fuel efficiency and electric vehicle design. Stainless steel is the leading material used in the market, while aluminum is anticipated to grow due to its balance of strength and reduced weight, which is increasingly relevant in automotive manufacturing .

This news highlights the ongoing trends and forecasts for the automotive fastener and connector market, emphasizing the importance of technological innovation and material choice in the industry's growth.