Ⅰ. Industry Overview

Fasteners, known as the “rice of industry,” are the most essential connection components in automotive manufacturing. Though small and simple in structure, they play a decisive role in the assembly, safety, and performance of vehicles. From engines and chassis to interiors and electronic systems, every stage of car production relies on reliable fasteners.

Ⅱ. Industry Chain

The automotive fastener industry consists of three main segments:

Upstream: Raw materials such as steel, copper, aluminum, and zinc, along with production equipment like cold heading, hot forging, and thread rolling machines.

Midstream: Manufacturers responsible for product design, production, and quality control.

Downstream: Passenger cars, commercial vehicles, and new energy vehicles (NEVs) — the largest end-use market.

Ⅲ. Market Development

1. Expanding Market Size

China is the world’s largest producer of fasteners. From 2018 to 2023, the domestic market grew from 130.4 billion RMB to 151.3 billion RMB, showing steady expansion. The rapid growth of high-end manufacturing and NEVs continues to drive fastener demand.

2. Huge Automotive Demand

Each passenger car uses about 4,000 fasteners, and each commercial vehicle around 7,500. Based on 2023 vehicle production of 30.16 million units, total fastener demand exceeded 134.7 billion pieces, or more than 1.6 million tons, reflecting a vast and stable market base.

3. Competitive Landscape

Competition in China’s automotive fastener industry is intense. While foreign brands dominate the high-end market with advanced technology, domestic companies are catching up through technological upgrading, automation, and brand building.

Ⅳ. Development Trends

1. Technological Advancement

The industry is moving toward high strength, lightweight design, and environmental sustainability. The adoption of high-strength steel, aluminum alloy, titanium alloy, and composite materials is increasing. Digitalized and intelligent manufacturing, including 3D printing and automated inspection, is improving precision and efficiency.

2. NEV-Driven Growth

NEVs and their key components—such as battery packs and drive systems—require fasteners with superior corrosion resistance, insulation, and reliability. The rising automotive aftermarket also contributes to continued demand growth.

3. Integration and Globalization

Industry concentration is expected to increase as leading enterprises expand through mergers, alliances, and overseas development. Chinese manufacturers are accelerating internationalization and improving their presence in the global supply chain.

Ⅴ. Conclusion

Amid the global trends of electrification, lightweight design, and smart manufacturing, China’s automotive fastener industry is transforming from large-scale production to high-quality innovation. With continued technological progress and global expansion, Chinese fastener enterprises are poised to play an increasingly influential role in the world market.