Press release
Product Development Boosts Revenues in the Machine Shops, Turned Products, and Screw, Nut, and Bolt Market || The Hillman Group, Bastian Solutions, SureWerx
Machine Shops, Turned Product, And Screw, Nut, And Bolt Market
The Business Research Company's global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
The Business Research Company's Machine Shops, Turned Product, And Screw, Nut, And Bolt Global Market Report 2023 identifies the rapidly growing urban populations are expected to drive the demand for metal products in the forecast period. A large number of people living in rural areas are migrating to urban areas in search of a better life. This is expected to increase the need for housing and infrastructure. Infrastructure demand is expected to increase significantly in Asian countries such as China, India, Vietnam, and the Philippines. According to the World Urbanization Prospects Report by the United Nations, 55% of the world's population lived in urban areas, and the rate is expected to rise to 68% by 2050.
The machine shops, turned product, and screw, nut, and bolt market size has grown strongly in recent years. It will grow from $461.86 billion in 2023 to $490.05 billion in 2024 at a compound annual growth rate (CAGR) of 6.1%. The growth in the historic period can be attributed to industrial production, economic cycles, technological advancements, infrastructure development, global trade. The machine shops, turned product, and screw, nut, and bolt market size is expected to see strong growth in the next few years. It will grow to $611.82 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%.
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Major competitors in the machine shops, turned product, and screw, nut, and bolt market include Berkshire Hathaway Inc., Illinois Tool Works Inc., Stanley Black & Decker Inc., Lisi S.A., The SFS Group AG, MISUMI Group Inc., Bulten AB, Arconic Inc., Precision Castparts Corp., Kennametal Inc., Timken Company, Mueller Industries Inc.
A key trend in the machine shops, turned product, and screw, nut, and bolt market includes using robotics and automation to improve plant efficiency and productivity. Sensors are being used in various machines to access invaluable data for improving efficiencies and reducing potential breakdowns. For instance, in November 2021, according to a report published by the Association for Advancing Automation, a US-based automation trade association, the need for automation pre-COVID-19 pandemic was seen in the second quarter of 2021, when robot orders increased by 67%.
Read More On The Global Machine Shops, Turned Product, And Screw, Nut, And Bolt Market Report Here: https://www.thebusinessresearchcompany.com/report/machine-shops-turned-product-and-screw-nut-and-bolt-global-market-report
The machine shops, turned product, and screw, nut, and bolt market covered in this report is segmented -
1) By Type: Turned Product and Screw, Nut, and Bolt, Machine Shops
2) By Grade: GR 5.8, GR 8.8, GR 10.9, GR 12.9, Other Grades
3) By Application: Construction, Petrochemical, Heavy Machine Equipment, Automotive, Aerospace, Home Appliances, Motors and Pumps, Furniture, Plumbing Products, Other Applications
4) By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Western Europe was the largest region in the machine shops, turned product, and screw, nut, and bolt market.
The Business Research Company's "Global Machine Shops, Turned Product, And Screw, Nut, And Bolt Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Machine Shops, Turned Product, And Screw, Nut, And Bolt Market Include:
1. Executive Summary
2. Machine Shops, Turned Product, And Screw, Nut, And Bolt Market Characteristic
3. Machine Shops, Turned Product, And Screw, Nut, And Bolt Market Trends And Strategies
4. Machine Shops, Turned Product, And Screw, Nut, And Bolt Market - Macro Economic Scenario
5. Machine Shops, Turned Product, And Screw, Nut, And Bolt Market Size And Growth
……………
27. Machine Shops, Turned Product, And Screw, Nut, And Bolt Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Machine Shops, Turned Product, And Screw, Nut, And Bolt Market
29. Machine Shops, Turned Product, And Screw, Nut, And Bolt Market Future Outlook And Potential Analysis
30. Appendix
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