The market value for global Bolts Market was USD 91 Billion in 2022 and is expected to reach USD 129.52 Billion in 2032 growing at a CAGR of 4% during the forecast period. The market is primarily driven by the expansion of the automotive and construction sectors, which has increased demand for bolts in a variety of applications. Bolts are utilized to provide a secure and long-lasting fastening solution and are an essential part of any construction or piece of machinery.
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Competitive Landscape:
The global market comprises various market players operating at regional and global levels. These key players are adopting various strategies such as license agreements, partnerships, merger and acquisitions, collaborations, R&D investments, and joint ventures to gain robust footing in the market.
Major Companies:
- Acument Global Technologies
- Bulten AB
- Fastenal Company
- Kaman Corporation
- LISI Group
- Nippon Steel & Sumitomo Metal Corporation
- PennEngineering
- Stanley Black & Decker
- TR Fastenings
- Würth Group
Further key findings from the report suggest
Construction activities occupied a significant market share in 2019, mainly due to the rising construction activities all around the world, in both commercial and residential areas. The growth of the construction industry, which needs equipment for activities like paving, drilling, excavation, lifting, and grading, is like to propel the demand for the bolts market as well since bolts are required in all the equipment needed for these activities.
Full screw bolts are forecasted to grow at a CAGR of 3.8% in the forecast period, mainly due to their properties like having more grip strength than holding force. These are used in the fastening of body panels in automobiles.
Grade 10.9 bolts are likely to grow at a rate of 3.8% in the forecast period. The growing demand for heavy-duty is leading to an increase in the demand for high tensile products, which in turn is leading to an increased demand of Grade 10.9 as they have properties like high tensile strength and durability.
The European region occupied the second largest market share of around 26.0% in 2019. This is mainly because of the massive production of automobiles, industrial and gardening machinery, and home appliances. Also, investments in the aerospace sector are likely to propel the demand for aerospace-grade bolts.
Bolts Market Segmentation:
Type Outlook:
- Hexagonal
- Square-head
- Round-head
- T-head
- Others
Application Outlook:
- Automotive
- Construction
- Aerospace
- Machinery
- Others
Regional Outlook:
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
- Latin America (Brazil, Rest of LATAM)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)
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