Indian Fastener Industry
Market Segregation
India is one of the top 20 global countries supplying fasteners.
Indian fastener industry mainly supplies to automotive sector. Fasteners having high-tensile strengths are used in construction and engineering sector.
Growth Opportunities
Major contributor of growth is widening of automobile sector. Fastener industry is expected to see a major growth owing to the fact that automotive industries are expanding. The Government of India has announced a plan “Automotive Mission Plan 2016-2026 (AMP 2026)” which is to boom the growth of its automobile industries. Manufacture of parts such as engine, chassis, wheels etc. would lead to increased revenues.
High-resolution 3D inspection ensures elimination of defective parts thus, increasing efficiency.
Japan, Thailand and Indonesia have high demands for fasteners. Thus, increased demand for imports is expected to boost the growth.
