Report Code : A15617
The bolts market has witnessed significant growth in the past decade, owing to rise in construction activities in developing countries and increase in demand for automobiles. A number of players in the bolts industry are expanding their business to strengthen their foothold in the global market. By type, the half screw bolts segment dominated the bolts market in 2020, in terms of revenue. This is attributed to rise in demand for half screw bolts from construction industry. Depending on end user, the industrial machinery is expected to grow at a higher CAGR during the forecast period, owing to growth of machine manufacturing industry across the globe.
Amar Chinchane
Lead Analyst, Construction and Manufacturing at Allied Market Research
According to a new report published by Allied Market Research, titled, “Bolts Market by Type, Material, and End User: Global Opportunity Analysis and Industry Forecast, 2021–2030,” the global bolts market size was valued at $46.8 billion in 2020, and is projected to reach $81.1 billion by 2030, registering a CAGR of 5.7% from 2021 to 2030.
Commonly observed types of bolts are half screw bolt and full screw bolt. Among these, the half screw bolt segment accounted for the largest market size by value in 2020, owing to increase in demand from various industries such as construction and automotive. The bolts market is analyzed with respect to different applications in industrial verticals such as automotive, aerospace, building & construction, industrial machinery and other. The bolts market is mainly driven by global economic growth and development in construction, manufacturing and automotive industries. However, fluctuation in raw material prices limits growth of the bolts market.
In 2020, Asia-Pacific dominated the global bolts market, in terms of revenue, accounting for around 54.5% share of the global bolts industry, followed by Europe and North America. Moreover, the market in Asia-Pacific is growing with high CAGR, owing to rapid growth of construction and automotive industry in developing countries.
Moreover, favorable government policies to promote industries such as automotive and construction across the globe drives demand for the bolts market. In addition, increase in infrastructure spending and growth in demand for products such as washing machines, televisions, dish washers and other electronic products propels demand for fasteners such as bolts.
Furthermore, on the basis of end users, the automotive segment is anticipated to grow rapidly, with a CAGR of 4.3% during the forecast period, owing to increasing investments in infrastructure projects and automotive industry.
For instance, UAE is planning major projects such as $11 billion Etihad Rail, $5.9 billion proposed hyperloop project which will connect Dubai and Abu Dhabi and $2.7 billion Sheikh Zayed double-deck road project. And according to India Brand Equity Foundation, the Indian government is anticipating investments of around $8 to $10 billion in the automotive industry by 2023.
However, during the pandemic lockdown, various manufacturers in the bolts market had to stop their business countries such as China, the U.S., and India. This break directly impacted sales of bolt manufacturing companies. In addition, lack of manpower and raw materials also constricted supply of equipment of bolts. However, reopening of production facilities and introduction of vaccines for coronavirus disease are anticipated to lead to re-opening of bolt manufacturing companies.
The key players profiled in the bolts market report include AB Steel Inc., B&G Manufacturing, Big Bolt Nut, Brunner Manufacturing Co., Inc., Fabory, Fastenal Company, KD Fasteners, Inc., Keller & Kalmbach Gmbh, Reyher and Rockford Fastener, Inc.
Key Findings Of The Study
Talk to David (Europe)
Talk to Sona Padman (Americas)
5933 NE Win Sivers Drive #205,
Portland, OR 97220 United States
Toll Free: +1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91 2066346060
Fax: +1(855) 550-5975
Allied Market Research
Contact Toll Free: +1-800-792-5285
Drop us an email at
media@alliedmarketresearch.com
Bolts Market by Type (Half Screw Bolt and Full Screw Bolt), Material (Plastic and Metal), and End User (Automotive, Aerospace, Construction, Industrial Machinery and Other): Global Opportunity Analysis and Industry Forecast, 2021–2030
To ensure high-level data integrity, accurate analysis, and impeccable forecasts
For complete satisfaction
On-demand customization of scope of the report to exactly meet your needs
Targeted market view to provide pertinent information and save time of readers
Buy Full Version
"Bolts Market"
Purchase Enquiry
Get insights on topics that are crucial for your business. Stay abreast of your interest areas.
Get Industry Data AlertsTo ensure high-level data integrity, accurate analysis, and impeccable forecasts
For complete satisfaction
On-demand customization of the scope of the report to exactly meet your needs
Targeted market view to provide pertinent information and save the time of readers