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1、 Overview of the Automotive Fastener Industry
Fasteners are known as the "industrial rice" and are a type of mechanical component that plays a role in fastening connections. Although fastener products may not be eye-catching in terms of appearance and size, they play a key role in connecting and fastening various components to form mechanical equipment, and have a significant impact on the overall quality and performance of mechanical equipment. In the automotive industry, fasteners are used for the specific production of various components and parts, as well as the connection and assembly of various subsystems that make up the entire vehicle, and play an important role in vehicle manufacturing.
2、 Development background of automotive fastener industry
1. Policy environment
The country continues to support and encourage the development of new energy vehicles, and continues to exempt them from vehicle purchase tax policies. The support of the state for the automotive industry is conducive to boosting confidence in the automotive consumer market and promoting the overall development of the automotive industry. Under the trend of electrification and intelligence in automobiles, the automotive interior industry relies on technological directions such as material innovation, process upgrading, and integration of diverse electronic functions to provide consumers with a richer cabin driving experience. The trend of upgrading automotive fasteners is clear, and the industry is expected to achieve further development.
2、社会环境
根据中国汽车工业协会数据，近五年我国汽车产量稳步增长，其中2023年较2022年增长率达11.62%。截至2023年末，我国汽车工业多项经济指标创历史新高，年产销量超过3000万辆，随着我国汽车产业的蓬勃发展必将带动汽车紧固件行业市场整体的扩大，推动行业发展。
3、 The industrial chain of automotive fasteners industry
The upstream raw materials for automotive fasteners mainly include metalized materials and production equipment. Steel is the main raw material for automotive fasteners. In addition to steel, non-ferrous metals such as copper, aluminum, and zinc are also used to manufacture automotive fasteners with special performance requirements. The production equipment mainly includes cold heading machines and hot forging machines, which are key equipment for forming automotive fasteners. In addition, it also includes thread rolling machines and thread rolling machines for processing the threads of fasteners, as well as CNC lathes, milling machines and other equipment for processing fasteners with complex shapes and high-precision requirements. The midstream mainly focuses on the production and manufacturing of automotive fastener products, while the downstream is the automotive manufacturing industry, including passenger cars, commercial vehicles, new energy vehicles, etc.
4、 Development Status of Automotive Fastener Industry
1. The scale of China's fastener market
At present, China has become a major producer of fasteners. In recent years, the overall scale of the industry has been continuously expanding, and the output value has been increasing. From 2018 to 2023, the market size of China's fastener industry has grown from 130.42 billion yuan to 151.312 billion yuan. With the stable development of China's economy, the demand for downstream applications of fasteners will continue to grow, especially in industries such as aerospace, rail transportation, marine engineering equipment, nuclear power, wind power, and automobiles, which will accelerate the expansion of the domestic high-end fastener market and continue to inject momentum into the development of the national fastener industry.
2. Distribution of demand structure in China's fastener industry
As a fundamental component of general machinery, the fastener industry plays an important role in the development of various strategic emerging industries in the country, with broad market demand and good development prospects. The downstream market for fasteners is vast, and according to statistics, the automotive and construction industries are currently the main application markets for fasteners. In 2023, the demand for fasteners in the automotive industry will account for over 65%, which is a very high proportion; Next is the construction industry, accounting for about 13%. In the future, the demand for fastener products will mainly be concentrated in the new energy vehicle industry. In addition, the aerospace industry has relatively small usage but high product added value, making it an important niche application area.
3. The demand for automotive fasteners in China
Since the reform and opening up, China's automotive industry has made significant progress, forming a nearly four trillion yuan automotive parts market, which has driven the growth of demand for fasteners. According to statistics, each passenger car requires an average of about 4000 fasteners and weighs approximately 50 kilograms; On average, each commercial vehicle requires about 7500 fasteners and weighs approximately 90 kilograms. According to statistics from the China Association of Automobile Manufacturers, the total production of automobiles in China in 2023 will be 30.161 million units, including 26.124 million units of passenger cars and 4.037 million units of commercial vehicles. Based on this, the demand for automotive fasteners that year is estimated to be 134.774 billion pieces, with a weight of approximately 1.6695 million tons.
5、 The competitive landscape of the automotive fastener industry
1. Industry competition pattern
The automotive fastener industry is a perfectly competitive market with numerous companies engaged in the industry and intense market competition. From the perspective of industry structure, foreign-funded enterprises have a relatively advantageous position in China's automotive fastener industry due to their relatively leading technology and cross-border investment layout that is closer to international automotive giants. After years of development, a group of leading domestic enterprises have shifted their market positioning to the mid to high end segment, and their product structure covers high-strength fasteners for various core parts of automobiles, with increased product added value.
2. Introduction to Key Enterprises
Jinyi Industrial Co., Ltd. specializes in the research and development of various types of fasteners, producing and selling various fasteners, railway fasteners, hardware products, precision wires, automated warehousing equipment and other products. Jinyi Industrial has significant scale advantages and is in a leading position in the industry. The company produces various grades of bolts, nuts, screws, studs, precision wire products, special-shaped fasteners, and railway fasteners that comply with national standards (GB), ISO standards, American standards (ANSI), German standards (DIN), Japanese standards (JIS), and other standards. The variety and specifications are over 25000, and the revenue of Jinyi Industrial in 2023 is 2.314 billion yuan.
6、 Development Trend of Automotive Fastener Industry
1. Technological development trends
To meet the demand for automotive lightweighting, the application of lightweight and high-strength materials such as high-strength steel, aluminum alloy, titanium alloy, as well as new materials such as carbon fiber reinforced composites, will increase. Meanwhile, fasteners made from environmentally friendly and recyclable materials will gradually receive more attention. In addition, traditional processes such as cold heading, hot forging, and wire rolling will continue to be optimized to improve production efficiency and product quality. Emerging manufacturing technologies such as additive manufacturing (3D printing) may be applied in the production of some special customized and small batch automotive fasteners.
With the development of intelligent and networked automobiles, there is a higher demand for precision and reliability of fasteners. Enterprises will invest more resources to improve processing accuracy and ensure the stability and safety of fasteners under complex working conditions.
2. Market demand trend
The rapid development of the new energy vehicle industry has led to a strong demand for high-performance, lightweight, and corrosion-resistant fasteners. Key components such as battery pack connections and motor fixation require specially designed and high-performance fasteners. At present, the number of automobiles in China is constantly increasing, and the demand for fasteners in the after-sales repair and maintenance market will also continue to grow. Consumers' emphasis on the quality and safety of automobiles will encourage the aftermarket to prefer the use of high-quality original or branded fasteners. With consumers' pursuit of personalized cars, car manufacturers need more customized fasteners to meet the needs of different car models and configurations.
3. Industry competition trends
Market competition will drive the integration of the automotive fastener industry, with large enterprises expanding their scale through mergers and acquisitions, increasing market concentration, and enhancing competitiveness. Nowadays, international fastener companies are setting up factories in China to seize market share, while domestic companies are actively expanding their overseas markets. The international competition in the industry will become more intense. In addition, the collaboration between upstream and downstream enterprises will become closer, jointly developing new products, optimizing costs, and improving supply chain efficiency.
