As per Future Market Insights, the right angle fastener market is anticipated to attain a value pool of US$ 60 billion by 2023-end. Global demand for right angle fasteners is expected to rise at a CAGR of 5.2% to US$ 100 billion in 2033.
| Data Points | Key Statistics |
|---|---|
| Expected Market Value in 2023 | US$ 60 billion |
| Projected Market Value in 2033 | US$ 100 billion |
| Growth Rate (2023 to 2033) | 5.2% CAGR |
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Demand for angle fasteners will witness moderate growth in short-term, with optimistic growth outlook in the long-run.
Subdued demand from various electronic manufacturing industries will create significant opportunities in near future, however, sales of printed circuit boards from consumer electronics, industrial equipment, and automotive components will provide momentum.
Growing demand from electronic industry for various end use applications will continue to drive demand for angle fasteners. Increase in the adoption and use of electronic devices across end-use industries has emphasized the necessity for usage of fasteners in printed circuit boards (PCB).
PCB connects electrical or electronic components using conductive tracks, as well as supports mechanically create permanent right-angle attachment points on boards with fasteners. The growing movement of contraction of PCB’s has accelerated the market potential for small, light weighted, and high-performance PCB’s in smart wearable gadgets, medical devices, and various portable electronics.
Manufacturers are offering different variants of fasteners with respect to the size of PCB’s. The growing demand for consumer electronics adoption has created significant opportunities for manufacturers and original equipment manufacturers (OEM’s) to improve fasteners.
The fasteners installed onto PC Boards using standard surface mount techniques will provide better grip. The holding power of the fastener is unaffected by the repeated tightening and loosening of the screw. The fasteners are cost-effective replacements for the following aspects such as bent edge tabs, bent center tabs, bent flanges, angle brackets and others.
These fasteners create strong right-angle attachment points to enable tighter design control and reduced hardware counts.
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Electronics sales around the globe have been impacted by COVID-19-induced slowdown. This has also had a ripple effect on electronic industry allied product sales. As the right angle fastener manufacturers are likely to witness sustained opportunities in the future from customers across the world.
Fasteners are also used extensively in manufacturing and designing of complex models of printed circuit boards for electronic industry. Although lockdown and shelter-at-home guidelines have meant restricted production activities, sales are likely to improve over the course of the assessment period.
China is one of the prominent markets for electronics manufacturing globally. The China right angle fasteners market is set to tread on the historic pattern of bust and boom during the assessment period 2021 to 2031. Demand is likely to grow in the next couple of years, as a number of end-use industries make gradual recovery.
Demand for fasteners in China will account for high demand from the consumer electronic manufactures, as demand for fasteners will continues to grow over the forecast period. Chain’s Electronics’ products exports is likely to surge drastically over a period and beyond, and this will continue to benefit OEM companies.
China electronic goods sales will also be impacted by the COVID-19 recovery in 2021. Electronic devices manufacturers faces a challenging year, however, there is growing optimism that low mortgage rates will lead to a spurt in early 2022. The momentum is likely to hold ground, which will provide an impetus to a range of fasteners.
Countries in North America have been severely impacted by the COVID-19 crisis, which has led to a decline in economic activities. North America hold significant share in the electronic devices exports, which in turn continues to drive demand for right angle fasteners.
Despite the COVID-19 challenges, most North America countries have maintained a steady growth in production, sales and exports in 2020. US is the major prominent players in the region, creating opportunities for angle fasteners to cater the demand from electronics’ industry.
Some of the leading manufacturers and suppliers of Right Angle Fastener include
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments.
The report also maps the qualitative impact of various market factors on market segments and geographies.
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Right Angle Fastener Market
