Bolts Global Market 2024 To Reach $58.9 Billion By 2028 At Rate Of 4.9%
Bolts Global Market Report 2024 : Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company's Bolts Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
LONDON, GREATER LONDON, UK, July 16, 2024 /EINPresswire.com/ -- The bolts market has experienced robust growth in recent years, expanding from $46.24 billion in 2023 to $48.72 billion in 2024 at a compound annual growth rate (CAGR) of 5.4%. The growth in the historic period can be attributed to construction and infrastructure development, manufacturing and industrial expansion, automotive production growth, oil and gas exploration and production, infrastructure repair and maintenance.
Strong Future Growth Anticipated
The bolts market is projected to continue its strong growth, reaching $58.9 billion in 2028 at a compound annual growth rate (CAGR) of 4.9%. The growth in the forecast period can be attributed to global urbanization trends, renewable energy projects, electric vehicle (EV) manufacturing, infrastructure resilience and upgradation, expanding aerospace and defense activities. Major trends in the forecast period include adoption of industry 4.0 in manufacturing, rising eco-friendly bolting solutions, increasing focus on bolt testing and certification, globalization and supply chain resilience.
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Growth Driver Of The Bolts Market
The rising number of construction activities is expected to propel the growth of the bolts market going forward. Construction activities encompass a wide range of operations and procedures that need resources and time to construct buildings, structures, and infrastructure facilities. Construction bolts, including structural bolts and anchor bolts, are used in a wide range of construction applications, including securing beams to columns or walls, attaching joists to ledgers, fastening deck boards, and forming secure foundations for bridges or buildings.
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Major Players And Market Trends
Key players in the bolts market include Nippon Steel, Arconic Corporation, KAMAX Holding GmbH & Co. KG., Acument Intellectual Properties LLC, Keller & Kalmbach GmbH, Reyher Nchfg. GmbH & Co. KG., Fabory Group, Fastenal Company, US Bolt Manufacturing Inc., Easylink Industrial Co. Ltd., Brunner Manufacturing Co. Inc., Elgin Fastener Group LLC, Dokka Fasteners AS, Fastco Industries Inc., Rockford Fastener Inc., Big Bolt Nut, Leland Industries Inc., Jignesh Steel, Hague Fasteners, Kpf Co.Ltd., B&G Manufacturing Co. Inc., Hanger Bolt & Stud Co., BTM Manufacturing, Chicago Nut & Bolt Inc., National Bolt & Nut Corporation, AB Steel Inc., KD Fasteners Inc., Würth Industrie Service GmbH & Co. KG., Ifastgroupe.
Major companies operating in the bolts market are focusing on developing innovative products, such as through-bolts, to provide reliable services to customers. Through-bolts are fasteners that pass entirely through two or more pieces of material, typically with a nut or other threaded attachment securing them on the end opposite the head.
Segments:
1) By Type: Half Screw Bolt, Full Screw Bolt
2) By Material: Metal, Plastic, Other Materials
3) By Grade: Grade 5.8, Grade 8.8, Grade 10.9, Grade 12.9, Other Grades
4) By End-User: Automotive, Aerospace, Construction, Industry Machinery, Other End-Users
Geographical Insights: Asia-Pacific Leading The Market
Asia-Pacific was the largest region in the bolts market in 2023. Asia-Pacific is expected to be the fastest-growing region during the forecast period, driven by expanding healthcare facilities and increasing awareness of the benefits of bolts.
Bolts Market Definition
Bolts refer to a long metal piece with chiseled threading used to connect objects that screws into a nut which provides a significant amount of gripping power. They are used in conjunction with a nut to connect two components and in the development of mass-produced items and steel structures.
Bolts Global Market Report 2024 from THE BUSINESS RESEARCH COMPANY covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Bolts Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on bolts market size, bolts market drivers and trends, bolts market major players, bolts competitors' revenues, bolts market positioning, and bolts market growth across geographies. The bolts market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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