Machine Shops, Turned Product, And Screw, Nut, And Bolt Market Size, Key Drivers, Growth ,Analysis 2024-2033

The new report published by The Business Research Company, titled Machine Shops, Turned Product, And Screw, Nut, And Bolt Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033", delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, 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 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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Urbanization Surge Fuels Robust Demand For Metal Products In Growing Economies
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. According to the World Bank, the urban population in South Asia is expected to grow to 250 million by 2030.

Robotics And Automation Revolutionize Machine Shops And Fastener Manufacturing
Many machine shops, turned products, and screw, nut, and bolt manufacturing companies are 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%. In Q2 2021, businesses in North America placed orders for 9,853 robots worth $501 million, Examples of companies offering industrial robots to metals companies include FANUC, KUKA, ABB, and Motoman.

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

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Major companies operating 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., Carpenter Technology Corporation, Fastenal Company, Acme Industrial Company, SPS Technologies LLC, Simpson Manufacturing Co. Inc., Barksdale Inc., Nucor Corporation, Arconic Inc., PennEngineering, The Olander Company Inc., MW Industries Inc., Marmon Holdings Inc., TriMas Corporation, MacLean-Fogg Company, Beacon Fasteners and Components, Scovill Fasteners, Alcoa Fastening Systems, Trifast Plc, Earnest Machine Products, Continental-Aero, EFC International, SPS Fasteners, The Hillman Group, Bastian Solutions, SureWerx.

Contents of the report:
1. Executive Summary
2. Machine Shops, Turned Product, And Screw, Nut, And Bolt Market Report Structure
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 Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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