Urbanization Surge Fuels Robust Demand For Metal Products In Growing Economies Driver: A Major Catalyst in the Evolution of the Machine Shops, Turned Product, And Screw, Nut, And Bolt Market in 2025

How Is the Machine Shops, Turned Product, And Screw, Nut, And Bolt Market Projected to Grow, and What Is Its Market Size?
The market size of machine shops, turned product, and screw, nut, and bolt has seen robust growth over the past few years. The market is predicted to amplify from $495.52 billion in 2024 to $527.37 billion in 2025, reflecting a compound annual growth rate (CAGR) of 6.4%. Factors such as industrial production, changes in economic cycles, technological progress, infrastructure development, and global trade have contributed to the growth observed in the historic period.

The market size for machine shops, turned products, along with screws, nuts, and bolts, is projected to experience solid expansion in the coming years. By 2029, it's expected to value at $652.34 billion, with a compound annual growth rate (CAGR) of 5.5%. Factors contributing to this growth during the forecast period include industry 4.0 and automation, sustainable manufacturing, the rise of electric vehicles and renewable energy, and aging infrastructure maintenance. Dramatic shifts anticipated during the forecast era incorporate electrification and lightweighting, the use of advanced materials, the adoption of additive manufacturing, increased digitalization and connectivity, and an upswing in collaboration and partnerships.

What Are the Key Drivers Behind the Growth of the Machine Shops, Turned Product, And Screw, Nut, And Bolt Market?
The soaring urban populace is anticipated to bolster the need for metal products during the predicted period. Numerous individuals migrating from rural to urban regions seeking better living conditions is anticipated to surge the demand for accommodations and infrastructure. Asian nations like China, India, Vietnam, and the Philippines are set to witness considerable growth in infrastructure demand. The World Urbanization Prospects Report by the United Nations reveals that 55% of the global populace resides in urban areas, a figure that is projected to escalate to 68% by 2050. The World Bank projections show that the urban populace in South Asia will increase to 250 million by 2030.

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Who Are the Major Industry Players Fueling Machine Shops, Turned Product, And Screw, Nut, And Bolt Market Expansion?
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.

Which Key Developments Are Influencing the Machine Shops, Turned Product, And Screw, Nut, And Bolt Market?
A considerable number of machine workshops, turned product companies, and manufacturers of screws, nuts, and bolts are integrating robotic and automated processes to augment factory efficacy and output levels. Data from miscellaneous machinery is being collected via sensors to enhance efficiencies and mitigate possible malfunctions. As an example, a report by the International Federation of Robotics (IFR), based in Germany, highlighted an unparalleled surge in the use of industrial robots in the UK in 2023. There were 3,830 new installations recorded as per the September 2024 report, marking a 51% increase relative to the prior year.

How Is the Segmentation of the Machine Shops, Turned Product, And Screw, Nut, And Bolt Market Defined?
The machine shops, turned product, and screw, nut, and bolt market covered in this report is segmented -

1) By Type: Turned Product, 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

Subsegments:
1) By Turned Product: Precision Turned Parts, CNC Turned Parts, Automatic Lathe Turned Parts
2) By Screw, Nut, Bolt: Screws (Machine Screws, Wood Screws, Self-tapping Screws), Nuts (Hex Nuts, Lock Nuts, Wing Nuts), Bolts (Hex Bolts, Carriage Bolts, Shoulder Bolts)
3) By Machine Shops: Custom Machining Services, CNC Machining, Metalworking and Fabrication

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What Is the Leading Region in the Machine Shops, Turned Product, And Screw, Nut, And Bolt Market?
Western Europe was the largest region in the machine shops, turned product, and screw, nut, in 2023. The Asia-Pacific was the second-largest region in the machine shops, turned product, screw, nut, and bolt market. The regions covered in the machine shops, turned product, and screw, nut, market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

What Is Covered In The Machine Shops, Turned Product, And Screw, Nut, And Bolt Global Market Report?

- Market Size Analysis: Analyze the Machine Shops, Turned Product, And Screw, Nut, And Bolt Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Machine Shops, Turned Product, And Screw, Nut, And Bolt Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Machine Shops, Turned Product, And Screw, Nut, And Bolt Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Machine Shops, Turned Product, And Screw, Nut, And Bolt Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.

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