Bolts Market Size, Share & Trends Analysis Report By Product (M6, M8, M10, M12, M14), By Grade (GR 5.8, GR 8.8, GR 10.9, GR 12.9), By Application (Construction, Automotive, Aerospace), By Region, And Segment Forecasts, 2021 - 2028
The global bolts market size is expected to reach USD 55.3 billion by 2028, progressing at a CAGR of 4.3% from 2020 to 2028, according to a new report by Grand View Research, Inc. The rapid growth of building & construction industry, primarily in China and India, is expected to drive the demand for bolts over the forecast period.
Asia Pacific is expected to be a preferred market for manufacturers of bolts owing to the extensive use of conventional construction practices that account for a high demand for traditional fasteners including nuts and bolts. High demand for carbon and alloy steel bolts on account of superior strength exhibited by the materials is expected to benefit the industry growth. Growth in car production, primarily in Asia Pacific, coupled with high demand for bolts in aftermarket applications has translated into increased product demand in automotive sector.
Fluctuating raw material prices often lead to variations in the prices of bolts, thus, affecting the profit margins of companies across the value chain. The product cost heavily depends on the aggregate volume of raw materials produced and minimum lot sizes, which leads to a high variation in the procurement cost of the product for use in various applications. The price also depends on the purchase volume and duration of contract of product manufacturers with OEMs.
Bolts are manufactured strictly in line with the performance characteristics mandated for consumer industries, primarily for niche applications in automotive and aerospace industries. Most of the manufacturers in the market use similar technologies and methods to manufacture bolts, which may lead to low level of product differentiation. In addition, the coating of bolts with high-strength protective materials to prolong the functioning lifetime of the product is expected to emerge as a major trend in the industry.
Bolts Market Report Highlights
M8 was the largest product segment in 2018, in terms of revenue, and is expected to generate a revenue of USD 9.5 billion by 2028, on account of its wide application scope in industrial and construction segments
GR 8.8 segment is expected to progress at a CAGR of 4.8%, in terms of revenue, from 2020 to 2028, owing to its extensive use in railroad equipment, motors, processing equipment, and engines
North America market was valued at USD 9.4 billion in 2018 owing to the presence of notable aerospace and automotive manufacturing companies coupled with the revival of construction renovation sector
The bolts market is dominated by the presence of large players operating through multiple sales channels such as direct and distributor-based supply, which aids them in grabbing a high market share.
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Chapter 1. Methodology and Scope
1.1. Market Segmentation & Scope
1.2. Information Procurement
1.3. Purchased Database
1.4. GVR’s Internal Database
1.5. Secondary Sources
1.6. Third Party Perspective
1.7. Primary Research
1.8. Information Analysis
1.9. Data Analysis Models
1.10. Market Formulation and Data Visualization
1.11. Data Validation and Publishing
Chapter 2. Executive Summary
2.1. Market Outlook
2.1.1. Segmental Outlook
2.1.2. Competitive Insights
2.1.3. Market Snapshot
Chapter 3. Global Bolts Market Scenario
3.1. Global Bolts Market Overview
3.2. Product Overview
3.3. Global Bolts Market Trends
3.4. Bolts Market - Value Chain Analysis
3.5. Raw Material Trends
3.5.1. Carbon Steel
3.5.1.1. Low Carbon Steel
3.5.1.2. Mild Carbon Steel
3.5.1.3. Alloy Steel
3.5.1.4. Stainless Steel
3.6. Manufacturing Trends
3.6.1. Bolt Production Technologies
3.6.2. Casting
3.6.3. Forming
3.6.4. Cold Forming
3.6.5. Hot Forming
3.6.6. Machining
3.6.7. Thread Production
3.6.8. Heat Treatment Used In the Fastener Manufacturing Process
3.6.9. Prevailing Technology In The Bolts Market And Upcoming Technological Advancements By Key Bolts Market
3.7. Regulatory Framework
3.7.1. Standard Specification For Zinc/Aluminum Corrosion Protective Coatings For Bolts
3.7.2. Standard Specification For Non-Ferrous Bolts, Hex Cap Screws, Socket Heat Cap Screws, And Studs For General Use
3.7.3. Standard Specification For Surface Discontinuities Of Bolts, Screws, And Studs, Inch and Metric Series
3.8. Market Dynamics
3.8.1. Market Driver Analysis
3.8.1.1. Growth Of Building And Construction Sector Driven By Asian Economies