According to our latest study on "C-Parts Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis - by Material Type, End-use Industry, Product Type Fastener Type," the C-Parts Market size was valued at US$ 158.46 Billion in 2024 and is expected to reach US$ 212.80 billion by 2031; it is estimated to record a CAGR of 4.4% from 2025 to 2031.

The trend of sustainability has increased across the globe. Governments of developed and developing nations are focusing on investments in renewable power generation. By 2030, the US government targets to decrease net GHG emissions by ~50-52% compared to 2005 levels and achieve net zero emissions by 2050. In 2023, the Government of India released a notification of bids for 50 GW of renewable energy capacity annually for the next 5 years to reach its 300 GW target by the end of 2030. Similarly, the government of Japan has targeted to increase its offshore wind capacity from 0.14 GW in 2022 to 10 GW by the end of 2030. Such investments in renewable energy are driving the demand for electrical equipment, motors, turbines, and battery energy storage systems, among others. Fasteners play an important role in the manufacturing of this equipment, as they help in keeping the components of electrical equipment, motors, turbines, and energy storage systems together and intact even in a harsh environment. Any minute issues in fasteners can cause interruption in energy leakage, which might lead to disastrous events. Thus, fastener manufacturers use specific types of raw material and special coatings for manufacturing fasteners, owing to which fasteners offer superior performance, anti-heat, and corrosion properties.

The North American C-parts industry is driven by aerospace, defense, automotive, construction, and industrial equipment sectors. The US accounted for a major share of the North American C-parts market. The US is home to one of the top aircraft manufacturers, Boeing. Increasing commercial aircraft orders are one of the growth factors of the C-parts industry. Further, a strong industrial sector and investments in the construction of public infrastructure have driven the consumption of C-parts in the US. In Canada, increasing government investments in the advanced manufacturing sector are driving the demand for C-parts. In 2023, the Canadian government invested US$ 177 million in the expansion of next-generation manufacturing. Advanced manufacturing typically involves high-tech processes such as automation, robotics, 3D printing, and precision machining.

South America and the Middle East & Africa are emerging markets and are growing at a steady rate. The growth rate of the Middle East & Africa C-parts industry is projected to be higher than South America, owing to government initiatives in Saudi Arabia and the UAE. Governments in these countries are now focusing on developing other industries to reduce their dependency on the oil sector. Thus, governments are welcoming global players to set up manufacturing plants in Saudi Arabia and the UAE. In September 2023, Lucid Group, an electric vehicle manufacturer, announced the opening of its first international plant in Saudi Arabia. With this, Lucid Group became the first company to start an automotive manufacturing plant in the country.

Key Findings of C-Parts Market Study:

The C-Parts Market is segmented on the basis of Material Type (Steel or Stainless Steel, Plastic or Composites, Cast Iron, Steel Alloys and Others), End-use Industry (Automotive, Aerospace and Defense, Energy and Power, Semiconductors and Others), Product Type (Fasteners, Bearings and Others), Fastener Type (Nuts, Bolts, Screws, Washers and Others).

Based on end-use industry, the global C-parts market is segmented into automotive, aerospace & defense, energy & power, semiconductor, and others. The rising population worldwide and increasing per capita income across the emerging regions are a few of the major factors supporting the demand for new vehicles across the world. The growing demand for C-parts in the automotive industry is mainly driven by the rising automotive production and increasing vehicle fleet size across regions. C-parts are one of the main components of any vehicle. Also, rapid urbanization across different countries worldwide is generating new market opportunities for electronic appliances, automobiles, and industrial machinery manufacturers, which is likely to fuel the global C-parts market in the coming years. The demand for C-parts in the aerospace industry is mainly driven by the growing fleet of aircraft across the world, propelled by the rise in demand for air travel. This is mainly due to the introduction of low-cost carriers in the region, which ultimately provides access to the middle and lower-class population to access the air travel experience. This is further generating the demand for new regional and narrow-body aircraft across countries such as India and China. Further, more than 42,000 commercial aircraft are expected to be delivered worldwide by the end of 2042, which will further boost the demand for C-parts globally in the aerospace industry.

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