Market Overview:
The Global Bolts Market size was reasonably estimated to be approximately USD 28,950.00 Million in 2022 and is poised to generate revenue over USD 43,099.31 Million by the end of 2030, projecting a CAGR of around 5.10% from 2022 to 2030.
A bolt is a form of threaded fastener with an external male thread requiring a matching pre-formed female thread such as a nut. Bolts are very closely related to screws. Bolts are also required for securing gates or doors because they act as a solid framework for padlocks or deadbolts to latch onto. Both screws and bolts have a wide range of head designs. These are made to fit the tool that will be used to tighten them. Instead of allowing the bolt to move, some bolt heads lock the bolt into place, requiring a tool only for the nut end. Common bolt heads include hex, slotted hex washer, and socket cap.
Top Key Players in Bolts Market:
Würth Industries Service GmbH & Co. KG (Germany), REYHER (Germany), AB Steel Inc. (Canada), Keller & Kalmbach GmbH (Germany), Rockford Fastener Inc. (U.S.), Viha Steel & Forging (India), Brunner Manufacturing Co. Inc. (U.S.), Kd Fasteners Inc. (U.S.), Big Bolt Nut (India), Fabory (Netherlands), Fastenal Company (U.S.), B&G Manufacturing (U.S.), Jignesh Steel (India) and Other Major Players
Market Dynamics and Factors for Bolts Market:
Drivers:
Increasing Applications in the Automotive Industry
Several parts of a car are fastened together with the help of automotive bolts. Under the hood of a car or truck, you are aware of the numerous components that must be safely fastened together. Automotive bolts are crucial for maintaining the functionality of brakes, air filters, and other components in cars and trucks. The average vehicle consists of over 30,000 small parts, most of which fall in the automotive fastener category. All bits and pieces like bolts, nuts, screws, spacers, or springs are used in practically every car component.
Opportunities:
Highly Growing Investment in Infrastructure Development
Bolts play a crucial role in the construction industry, where they are typically used everywhere. Many people believe that the only necessary materials for any construction project are large machinery and steel. Bolts and other fasteners are also essential components of a building that is under construction. For a building to effectively serve its purpose, it must be sturdy and dependable. The installation of structural elements into a surface or other material or to create joints between them requires the use of construction bolts. In certain circumstances, bolts are designed to be a permanent component of a structure, which means that once they are installed, they cannot be moved and don't need any more upkeep or replacement.
Segmentation Analysis of the Bolts Market:
By Type, the Metal segment is Anticipated to Dominate the Market Over the Forecast period. Metal bolts and nuts come in a variety of sizes and shapes to suit specific needs. For example, long-shank steel bolts are often used for structural applications like bridge construction, while short-shank steel bolts may be used for furniture assembly or other smaller tasks.
By Material Type, the Metal segment is Anticipated to Dominate the Market Over the Forecast period. Metal bolts are known for their strength and durability. They can withstand heavy loads and high levels of tension, making them suitable for various applications in construction, manufacturing, and other industries.
Regional Analysis of the Bolts Market:
Asia Pacific is Expected to Dominate the Market Over the Forecast Period. The Asia-Pacific region is the emerging automotive hub, has a vast demand for industrial fasteners, and is a major positive for the bolts manufacturing companies. The Asia-Pacific region currently holds a dominant position in the global industrial bolts market due to the region's economic growth, which is crucial to the overall development of the bolts market in the area. The market is expected to be driven by the increased rate of urbanization and industrialization in the Asia Pacific, which is expected to be caused by an increase in disposable income.
Key Industry Development:
In March 2022, Fastto Nederland BV's founder and owner Guido Voskamp signed a contract transferring ownership to Fabory. Fastto is a well-known fastener expert with a pertinent product line and committed patrons. The Fabory-Fastto partnership demonstrates a strong strategic fit between two experts in fasteners.
In February 2021, Würth Industry announced the acquisition of Atlantic Fasteners Inc., a mainstay in the structural industry with 36 years of history manufacturing structural bolts and distributing standard and specialty fasteners.
Regional Outlook (Revenue in USD Million; Volume in Units, 2023-2030)
North America
- US
- Canada
- Mexico
Eastern Europe
- Bulgaria
- The Czech Republic
- Hungary
- Poland
- Romania
- Rest of Eastern Europe
Western Europe
- Germany
- UK
- France
- Netherlands
- Italy
- Russia
- Spain
- Rest of Western Europe
Asia Pacific
- China
- India
- Japan
- South Korea
- Malaysia
- Thailand
- Vietnam
- The Philippines
- Australia
- New Zealand
- Rest of APAC
Middle East & Africa
- Turkey
- Bahrain
- Kuwait
- Saudi Arabia
- Qatar
- UAE
- Israel
- South Africa
South America
- Brazil
- Argentina
- Rest of SA
