The Bolts Global Market Report 2023 by The Business Research Company, provides bolts market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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https://www.thebusinessresearchcompany.com/report/bolts-global-market-report
According to The Business Research Company’s Bolts Global Market Report 2023, the market size is expected to grow from the global bolts market size is expected to grow from $43.80 billion in 2022 to $46.24 billion in 2023 at a compound annual growth rate (CAGR) of 5.57%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The size of bolts market is expected to reach $55.78 billion in 2027 at a CAGR of 4.80%.
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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The bolts market 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
Technological advancements are the key trends gaining popularity in the bolts market. Companies operating in the bolt market are adopting new technologies to sustain their position in the market. For instance, in September 2021, Strainlabs AB, a Sweden-based IndTech firm that provides remote and automated application monitoring via the Internet of Bolts, launched a new technology called IoT technology that uses bolts with built-in sensors to automatically monitor equipment and applications. This is a one-of-a-kind approach for evaluating elongation in preloaded bolts using an LED sensor. The system takes a digital approach to industrial maintenance and sends out alerts before a malfunction occurs. Because bolts are the most prevalent method of connecting pieces, they are also a common source of inspections, maintenance, and breakdowns. Unplanned production stoppages are well known to take several times longer to repair than planned maintenance. Strainlabs by delivering alerts before a bolt comes free, bolts immediately enable concrete benefits.
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. Bolts Market Segmentation
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26. South America Bolts Market
27. Brazil Bolts Market
28. Middle East Bolts Market
29. Africa Bolts Market
30. Bolts Market Competitive Landscape And Company Profiles
Top Major Players:
- Nippon Steel
- Arconic Corporation
- KAMAX Holding GmbH & Co. KG
- Acument Intellectual Properties LLC
- Keller & Kalmbach GmbH
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