Yahoo Finance Surging Concerns about Asset Protection across Industries to Accelerate Use of Tamper-proof Fasteners, States Fact.MR
“Development of public amenities under smart cities is anticipated to fuel the demand for tamper-proof fasteners over the coming years,” says a Fact.MR analyst.
United States, Rockville, MD, July 04, 2022 (GLOBE NEWSWIRE) -- As per a new report by Fact.MR, a market research and competitive intelligence provider, the global tamper-proof fasteners market is estimated to exceed a valuation of US$ 3.95 billion by 2032, expanding at a noteworthy CAGR of 6.3%. During 2017-2021, the market registered an annual growth rate of 0.4%.
Tamper-resistant screws save thousands of dollars every year by protecting from tampering, unauthorized entry, vandalism, theft, and a variety of other situations; hence, they are also called vandal-proof screws. Numerous applications across end-use industries are propelling the demand for tamper-proof fasteners.
From public facilities such as buses, parks, and schools to the world`s most secure correctional facilities, as well as specialty applications in various end-use industries, different types of equipment are at risk of unauthorized entry, damage, tampering, theft, vandalism, and a variety of other situations. Standard fasteners can be removed with common tools such as spanners and screwdrivers.
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Some tamper-resistant fasteners are sufficiently secure to prevent casual interference, while others are nearly impossible to remove without a specially designed driver. Tamper-proof screws, nuts, and bolts are a great solution to protect assets against theft or vandalism. With rising global concerns about asset protection across several industries, the tamper-proof fasteners market is estimated to grow at a significant rate over the coming years.
However, tamper-proof fasteners are designed to be challenging to remove without the appropriate tools, which are unlikely to be available to unauthorised persons. These screws are effective for use in applications requiring a low level of security and they are considerably less expensive than locks.
Key Takeaways from Market Study
Under end-user industry, use of tamper-resistant fasteners at public facilities dominates the market with a valuation of US$ 371.3 million in 2022, and the segment is expected to register a CAGR of 8.6% during the forecast years (2022-2032).
North America dominated the market with 34.5% market share in 2021.
Together, East Asia and South Asia & Oceania are likely to hold 26.1% market share in 2022.
Based on region, demand for tamper-proof fasteners is expected to increase at CAGRs of 6.3% and 4.5% in Europe and Latin America, respectively, over the forecast period.
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Development of Market
Companies have developed a wide array of tamper-proof fasteners considering standard dimensions and application use. Specialty drivers required to access these fasteners are provided by manufacturers to authorised persons. Companies are also tailoring the application-specific need of end-use industries by offering customized head types and styles to provide the maximum level of security.
Key players are investing in material science by researching and developing new material alloys to enhance fatigue strength, torsional strength, hardness, and toughness. For instance, fasteners used in the oil & gas sector are prone to oxidation corrosion; hence, companies are providing finishes such as zinc passivation, black oxide coating, and more for added protection.
Segmentation of Tamper-proof Fasteners Industry Research
Tamper-proof Fasteners Market by Material :
Steel Tamper-proof Fasteners
Alloy Steel Tamper-proof Fasteners
Stainless Steel Tamper-proof Fasteners
Aluminium Tamper-proof Fasteners
Others
Tamper-proof Fasteners Market by Product Type :
Screws & Bolts
Flat Head
Oval Head
Pentagonal Head
Round Head
Hexagonal head
Socket head
No Head
Nuts
Hexagonal
Tri-groove
Kinmar Groove
Hole Groove
Others
Tamper-proof Fasteners Market by Sales Channel :
Online Sales
Company-owned Platforms
e-Commerce Platforms
Offline Sales
Modern Trade Channel / DIY Stores
Hardware / Specialty Stores
Others
Tamper-proof Fasteners Market by End-use Industry :
Industrial & Manufacturing
Aerospace & Defense
Automotive
Electricals & Electronics
IT & Telecom
Construction & Utilities
Oil & Gas
Self Service & Automation
Public Facilities
Energy & Power
Others
Tamper-proof Fasteners Market by Region :
North America
Latin America
Europe
East Asia
South Asia & Oceania
Middle East & Africa
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More Valuable Insights Available
Fact.MR, in its new offering, presents an unbiased analysis of the global tamper-proof fasteners market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals essential insights on the basis of material (steel, alloy steel, stainless steel, aluminium, others), product type (screws & bolts, including flat head, oval head, pentagonal head, round head, hexagonal head, socket head, no head, nuts, including hexagonal, tri-groove, kinmar, groove, hole groove, others), sales channel (online sales, including company-owned platforms and e-Commerce platforms, offline sales, including modern trade channels / DIY stores, hardware / specialty stores, others), and end-use industry (industrial & manufacturing, aerospace & defense, automotive, electricals & electronics, it & telecom, construction & utilities, oil & gas, self-service & automation, public facilities, energy & power, others), across major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East & Africa).
About the Industrial Goods Division at Fact.MR
Expert analysis, actionable insights, and strategic recommendations of the highly seasoned industrial goods solutions at Fact.MR helps clients from across the globe with their unique business intelligence needs. With a repertoire of over thousand reports and 1 Million-plus data points, the team has analysed the prominent end users across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services.
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