Report Code : A16212
the U.S. cold headed large bolts market witnessed significant growth in the past decade, owing to increase in demand from automotive and construction sectors. Various players in the market are expanding business by acquiring and collaborating with other firms to strengthen foothold in the market. Furthermore, increase in demand from aerospace and industrial manufacturing sectors have provided lucrative growth opportunities for the market. In addition, cold headed bolts are highly adopted in the construction and repairing activities of bridges and highways and thus, drive the market growth.
Amar Chinchane
Lead Analyst, Construction and Manufacturing at Allied Market Research
According to a new report published by Allied Market Research, titled, “U.S. Cold Headed Large Bolts Market by Size and Application: Opportunity Analysis and Industry Forecast, 2021–2030,” the U.S. cold headed large bolts market size was valued at $75.3 million in 2020, and is projected to reach $120.4 million by 2030, registering a CAGR of 4.8% from 2021 to 2030.
By application, the automotive sector accounted for the largest share in terms of revenue in 2020 in the U.S. cold headed large bolts market owing to increase in manufacturing of electric vehicles.
The market is mainly driven by increase in investment in automotive, aerospace, and construction sectors in the U.S. Further, rise in demand for cold headed large bolts from the industrial manufacturing sector fuels the U.S. cold headed bolts market growth. However, fluctuation in prices of raw materials and high price of steel are few factors that hinder the market growth.
Increasing investment and manufacturing of electric vehicles in the U.S. drive the market growth. For instance, in April 2022, Toyota Motor Company announced that it will invest $383 million in four of its U.S. automobile manufacturing plants for manufacturing of Toyota and Lexus vehicles. Similarly, in May 2021, Hyundai Motor Company and Kia Corporation announced a $7.4 billion investment for the production of electric vehicles in the U.S. by 2025. The investment is expected to enhance manufacturing facilities and smart mobility solutions. As a result, all such factors are expected to boost the U.S. cold headed large bolts market growth during the forecast period.
The market is segmented on the basis of size and application. On the basis of size, the market is divided into 1 inch, 1-1/8 inch, and 1-1/4 inch. By application, the market is segmented into automotive, aerospace, construction, industrial machinery, and others.
However, during the COVID-19 pandemic, various manufacturers in the U.S. cold headed large bolts market had to stop their business in countries, such as China, the U.S., and India. This break directly impacted sales of the U.S. cold headed large bolts companies. In addition, lack of manpower and raw materials also constricted supply of equipment of the U.S. cold headed large bolts, which has negatively influenced the growth of the market. However, reopening of production facilities and introduction of vaccines for COVID-19 are anticipated to lead to re-opening of companies operating in the U.S. cold headed large bolts.
Key Findings Of Study
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U.S. Cold Headed Large Bolts Market by Size (1 Inch, 1-1/8 Inch, and 1-1/4 Inch) and Application (Automotive, Aerospace, Construction, Industrial Machinery, and Others): Opportunity Analysis and Industry Forecast, 2021–2030
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