Set Screw Market Size, Share & Industry Analysis, By Material ( Steel, Copper, Aluminum, Other ), By Application ( Automotive Industry, Machinery Industry, Construction Industry, MRO, Others ) and regional Forecast, 2024-2032

A set screw, also recognized as  a grub screw, is a form of screw commonly employed to attach an object inside or even against some other object, typically without the need of a bolt. The most obvious categories are the mounting of a piston or equipment to a shaft. The industry is projected to see massive growth worldwide  due to the rise in the production of vehicles, because manufacturers are continually designing  more powerful engines to minimize fuel usage and are using pollution control technologies to manufacture cleaner cars.

Excess supply from the aerospace and automotive industries due to their compact, easy operation and excellent resistance to corrosion properties is allowed to accelerate development. Increasing metal prices combined with their increasing demand in other industrial sectors, including building and equipment manufacturing, are likely to influence the supply of raw materials for screws. However, the involvement of diverse distributors with large production levels is likely to restrict the supremacy of sourcing of raw materials.

Market Segmentation:

Based on material, the market for global set screwis segmented into  steel, copper, aluminum, others. On the basis of application, the market is classified into automotive industry, machinery industry, construction industry, MRO, and others. From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

Key Players Covered:

The global set screw market is fairly fragmented, with number of players operating in the global markets. Some of the key players in the global set screwmarket includes Acument Global Technologies, Arconic, Big Bolt Nut, Ciser Fasteners, Cooper & Turner Ltd., Dokka Fasteners Inc., LISI SA, Marmon Group, NingBoXinXing Fasteners Manufacture Co., Ltd., NITTO SEIKO CO., LTD., Ogland Group Holding As and others.

Key Insights

• New Advancements in Production Technologies


• Key Trends in the Global Set Screw Market


• New Product Launches, Expansions, Key Players


• Ranking of Key Players in the Market

Regional Analysis:

The global set screw market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.  The automotive application has led North America to push the market for set screws. This is getting tremendous penetration due to the growing output of electric vehicles in the area. Regional demand is expected to see substantial growth over the forecast years. Asia Pacific has a large market share. Automotive set screw has been experiencing accelerated growth due to rise in consumer preference. Europe accounts for significant product demand from the industrialized economies of the United Kingdom, Germany, Russia, France and Italy . The auto sector accounted for a large share of revenues produced in the region. This is due to the existence of a large automotive base in the area, which has contributed to the rise of the set screw market in the region. The Middle East and the African region will be among the recent advances in regional industrial growth , particularly in the advancement of production facilities. Latin America is also suffering from political instability and economic instability that inhibits business expansion.

Segmentation

Global Set Screw Market Industry Developments 

• On 28^th April 2017: Acument Global Technologies, a subsidiary of Fontana Gruppo, has launched a new range of safe fasteners under the brand name TechniCleanTM. TechniCleanTM fasteners are produced with Acument Global Technologies industry-leading systems and fastener finishes created to assist maintain hygiene rates that are higher than those of traditional fasteners. This launch helped the company to strengthen its footprint in the market across the globe by enhancing outputs and turnovers.