Construction Bolts Market Size, Share & Trends Analysis Report By Application (Residential, Non-Residential), By Region (North America, Europe, APAC, CSA, MEA), And Segment Forecasts, 2024 - 2030

Construction Bolts Market Size, Share & Trends Analysis Report By Application (Residential, Non-Residential), By Region (North America, Europe, APAC, CSA, MEA), And Segment Forecasts, 2024 - 2030

Construction Bolts Market Growth & Trends

The global construction bolts market size is expected to reach USD 9.65 billion by 2030, anticipated to grow at a CAGR of 5.5% from 2024 to 2030, according to a new report by Grand View Research, Inc. Growth in building & construction activities, driven by urbanization, population growth, as well as infrastructure development, contributes significantly to increasing demand for construction bolts. As more buildings, bridges, and infrastructure projects are undertaken globally, the need for reliable and durable fastening solutions, such as bolts, continues to grow.

Increased construction & infrastructural development activity in developing countries such as Mexico, India, China, Brazil, and Indonesia due to growing demand for affordable housing projects is expected to propel the use of bolts in new construction as well as renovation activities. However, high labor costs in developed countries in Europe and North America are expected to negatively influence the building & construction industry in those regions, which in turn, may result in slow growth of the global market over the forecast period.

The building & construction sector in the Middle East & Africa region is expected to observe a rebound growth in the coming years owing to numerous aspects such as increasing government investments, expansion of oil production, along with improved weather conditions. The new government policies in South Africa to invest more in infrastructure sector are likely to boost the growth of construction sector in this country over the coming years. In addition, government building projects in Nigeria, Ethiopia, and Uganda are expected to boost the growth of the construction industry, thus enabling the demand for fasteners such as bolts.

The construction bolts industry is extremely competitive with significant influence from local and international market trends. Fluctuating raw material prices often lead to variations in bolts prices, thus affecting companies operating across the value chain. The pricing heavily depends on the aggregate volume of raw materials produced and minimum lot sizes. Factors such as availability of raw materials and government policies for steel production majorly influence raw material prices.

Companies engaged in bolt manufacturing require high capital investment owing to high production volumes and stringent specifications on testing and labeling. Moreover, companies are investing significantly in research and development (R&D) activities for manufacturing bolts, thus resulting in highly competitive and dynamic market conditions.

In recent times, companies have been significantly investing in product innovation activities to enhance their product portfolio, gain access to various markets, and expand their market presence. As a result, companies have increased their presence in the market by integrating across the value chain and diversifying their product portfolio with the introduction of superior-grade products.

Construction Bolts Market Report Highlights

• This market is expected to grow as construction companies are increasingly adopting advanced fastening technologies to improve project timelines and ensure long-term performance of building structures
• Based on application, the market has been segmented into residential and non-residential segments. Non-residential application segment dominated the market with a major revenue share of 74.7% in 2023 and is forecasted to grow at a CAGR of 5.6% from 2024 to 2030. Non-residential structures are subject to stringent building codes and safety standards. The use of approved fasteners, including bolts, is essential for compliance with these regulations
• Asia Pacific dominated the market with a revenue share of 34.5% in 2023, followed by Europe and North America. This dominance of Asia Pacific in the market is anticipated to continue over the forecast period as well. Majority of the countries in the region, including India, China, South Korea, and Indonesia are contributing considerably to an expansion of the construction and infrastructural development industry and thus boosting market demand for bolts
• Rising government initiatives and increasing foreign investments for developing the construction sector, in developing countries such as India, Indonesia, Malaysia, Vietnam, Brazil, and South Africa, are expected to drive the market growth over the forecast period

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