Urbanization Surge Fuels Robust Demand For Metal Products In Growing Economies: Pivotal Factor Influencing Machine Shops, Turned Product, And Screw, Nut, And Bolt Market Growth in 2025

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Machine Shops, Turned Product, And Screw, Nut, And Bolt Market Size Growth Forecast: What to Expect by 2025?
The market size for machine shops, turned product, as well as screw, nut, and bolt industries has shown significant growth in recent years. The projection is an increase from $495.52 billion in 2024 to a substantial $527.37 billion in 2025, indicating a compound annual growth rate (CAGR) of 6.4%. Factors such as industrial production, economic patterns, technological progression, infrastructure growth, and global commerce have contributed to the growth during the historical period.

How Will the Machine Shops, Turned Product, And Screw, Nut, And Bolt Market Size Evolve and Grow by 2029?
The market size of machine shops, turned product, and screw, nut, and bolt market is predicted to witness a significant increase in the coming years, and will reach $652.34 billion by 2029, with a compound annual growth rate (CAGR) of 5.5%. This growth during the predicted period can be credited to factors such as Industry 4.0, automation, sustainable manufacturing processes, adoption of electric vehicles, and renewable energy methods, coupled with an aging infrastructure. Electrification and lightweighting, advanced materials, additive manufacturing, digitalization, connectivity, and collaborations and partnerships stand to be the main trends during the forecast period.

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What Drivers Are Propelling the Growth of Machine Shops, Turned Product, And Screw, Nut, And Bolt Market Forward?
The growing number of people in cities due to urbanization is anticipated to propel the demand for metal products in the coming years. Rural inhabitants are increasingly relocating to urban environments in hopes of a superior lifestyle, which is predicted to raise the necessity for housing and infrastructure. The demand for infrastructure in Asian nations like China, India, Vietnam, and the Philippines is also set to rise considerably. The World Urbanization Prospects Report from the United Nations has revealed that while 55% of the global population resided in urban regions, this proportion is predicted to increase to 68% by 2050. Moreover, according to the World Bank, an upward adjustment in South Asia's urban populace to 250 million is expected by 2030.

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Which Emerging Trends Are Transforming the Machine Shops, Turned Product, And Screw, Nut, And Bolt Market in 2025?
Numerous machine workshops, turned product manufacturers, and screw, nut, and bolt production companies are employing robotics and automation to enhance factory performance and output. To optimize efficiency and mitigate potential system failures, sensors are used in various equipment to glean crucial data. For example, as per a report by the International Federation of Robotics (IFR), a Germany-based entity, in September 2024, there was an extraordinary surge in the installation of industrial robots in the UK in 2023. A total of 3,830 units were installed, marking a 51% increase from the previous year.

What Are the Key Segments in the Machine Shops, Turned Product, And Screw, Nut, And Bolt Market?
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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Who Are the Key Players Shaping the Machine Shops, Turned Product, And Screw, Nut, And Bolt Market's Competitive Landscape?
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.

What Geographic Markets Are Powering Growth 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.

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