Overview and Scope
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.
Sizing and Forecast
The bolts market size has grown strongly in recent years. It will grow 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..
The bolts market size is expected to see steady growth in the next few years. It will grow to $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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Segmentation & Regional Insights
The bolts market covered in this report is segmented –
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
Asia-Pacific was the largest region in the bolts market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the bolts market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
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. For instance, in December 2021, according to the U.S. Census Bureau, the US federal government’s largest statistical agency, an estimated 1,595,100 housing units were started, or a 15.6% increase from the 2020 figure of housing units of 1,379,600. Furthermore, in March 2023, according to a recent statistical report published by the United States Census Bureau, a US-based agency of the U.S. Federal Statistical System, total construction spending in the United States was $1.54 trillion in November 2020, and it grew to $1.84 trillion in November 2022, reflecting a 16.3% rise. Therefore, the rise in construction activities will drive the growth of the bolts market.
Key Industry Players
Major companies operating in the bolts market report are 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
The bolts market report table of contents includes:
1. Executive Summary
2. Bolts Market Characteristics
3. Bolts Market Trends And Strategies
4. Bolts Market – Macro Economic Scenario
5. Global Bolts Market Size and Growth
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32. Global Bolts Market Competitive Benchmarking
33. Global Bolts Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Bolts Market
35. Bolts Market Future Outlook and Potential Analysis
36. Appendix
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