Press release
Bolts Market Tremendous Growth, Opportunity, Trends with Key Players at 5.7% by 2030
Bolts Market
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.
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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.
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.
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Top Players:
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
• The report provides an extensive analysis of the current and emerging bolts market trends and dynamics.
• Depending on type, the half screw bolt segment dominated the bolts market, in terms of revenue in 2020 and the full screw bolt segment is projected to grow at a significant CAGR during the forecast period.
• By end user, the automotive segment registered highest revenue in 2020.
• Asia-Pacific is projected to register highest growth rate in the coming years.
• Depending on material, the metal segment dominated the bolts market, in terms of revenue in 2020, and plastic segment is projected to grow at a significant CAGR during the forecast period.
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