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Surging Concerns about Asset Protection across Industries to Accelerate Use of Tamper-proof Fasteners, States Fact.MR

FACT.MR
8 min read
FACT.MR
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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