The mushrooming manufacturing of luxury vehicles is causing a sharp surge in the demand for automatic self-piercing rivets across the world. This is because these rivets are extensively used by automakers to fasten several similar and dissimilar aluminum automobiles. In addition to this, various luxury vehicle manufacturing companies such as Porsche, Daimler AG, and Audi AG are increasingly utilizing various automatic self-piercing rivets for the manufacturing of their aluminum-intensive automobiles.
Apart from the above-mentioned factor, the governments of various European and North American countries are increasingly implementing strict emission norms and standards, that are further boosting the demand for automatic self-piercing rivets. Additionally, several automotive manufacturing companies around the world are increasingly using aluminum to reduce the weight of their automobiles. As per the Aluminum Transportation Group (ATG),every 10% reduction in vehicle weight could cause savings of as much as 5-7% fuel.
The utilization of automatic self-piercing rivets, made from aluminum, in place of heavier materials is allowing automakers manufacture vehicles that are lighter and save more fuel than the ones manufactured from conventional materials. Additionally, the growing utilization of these rivets in sedan and hatchback cars is boosting their sales. Many leading automakers such as Audi, Renault, and BMW are increasingly adopting these rivets in various applications such as hoods, bonnets, boot lids, trunk lids, and doors and windows regulators.
Furthermore, many governments are rapidly implementing policies aimed at promoting the usage offuel-efficient vehicles in order to reduce the emission of greenhouse gases and mitigate the pollution levels. These policies are massively contributing toward the changing automobile manufacturing dynamics. The Global Fuel Economy Initiative has set the target of improving the fuel economy of all new automobiles by at least 50% by 2050. These initiatives are also driving the progress of the global automatic self-piercing rivets market.
Due to the soaring pollution levels, the governments of these countries are enacting strict emission policies such as those pertaining to fuel efficiency, mitigating the emission of CO2, and the manufacturing of lightweight automobiles. As per industry experts, the automatic self-piercing rivets market is highly consolidated in nature, with the top three companies holding a majority of the market shares. STANLEY Engineered Fastening,Henrob Ltd, and Wilhelm Bollhoff GmbH und Co. KG are some of the leading market players.
Hence, it can be said with certainty that the sales of automatic self-piercing rivets will shoot-up all over the world in the upcoming years, primarily because of the increasing manufacturing of lightweight and fuel-efficient vehicles.
To receive free sample pages of this report@ https://www.psmarketresearch.com/market-analysis/automatic-self-piercing-rivets-market/report-sample
About P&S Intelligence
P&S Intelligence is a market research and consulting firm shaping growth strategies for enterprises with a global as well as niche presence. We specialize in both syndicate and custom market research, creating insight-laden reports that allow customers to stay ahead at every curve. Our clients range from multi-billion-dollar behemoths across industries to up and coming MSMEs and startups. Moreover, with our new offering, government and public sector advisory services, we continue to trudge ahead in our quest for revolutionizing the way economies shape themselves in these ever-changing times.
Contact:
P&S Intelligence
Phone: +1-347-960-6455
Email: enquiry@psmarketresearch.com
Arabic
French
Spanish
Portuguese
Deutsch
Turkish
Dutch
Italiano
Russian
Romaian
Portuguese (Brazil)
Greek
