Bolts Market is Anticipated to Witness High Growth Owing to Increasing Construction Sector Globally

 
Bolts Market

Bolts are threaded fasteners used to join two or more materials such as wood, metal, or plastic together. Bolts are used in various applications such as in construction, automotive and machinery. They provide strength, resistance against vibration and shocks. The global construction sector has witnessed significant growth over the years owing to rapid urbanization and industrialization. Furthermore, bolts find wide application in joining different components of vehicles, industrial equipment and machinery together.

The Global bolts market is estimated to be valued at US$ 9.56 Bn in 2024 and is expected to exhibit a CAGR of 18% over the forecast period 2024 to 2031.

Bolts help provide strength and durability to structures for long lasting performance. With growth in infrastructure projects globally, demand for bolts is anticipated to rise substantially.

Key Takeaways
Key players operating in the Bolts Market Demand are 3M, Reckitt Benckiser Group PLC, Procter & Gamble, Cantel Medical Corporation, The Clorox Company, Ecolab, SC Johnson Professional, Whiteley Corporation, and Steris PLC. 3M is one of the leading players offering variety of bolts for construction and industrial applications.

The global bolts market offers considerable opportunities with growing infrastructure spending. Government across countries are investing heavily in roads, bridges, commercial buildings and other construction projects. This will generate robust demand for joining hardware like bolts.

The bolts market players are focusing on expanding their geographical footprint in emerging nations of Asia Pacific, Middle East, Africa and Latin America. These regions are witnessing rapid economic development leading to an increased number of manufacturing plants, construction of commercial offices and public infrastructure. The development activities provide opportunities for bolts consumption.

Market drivers:
- Growth of the global construction industry with increasing number of projects across commercial and residential segments is a key factor driving bolt consumption.
- Rising automobile production globally augments the demand for bolts in vehicle manufacturing where they are used for joining engine parts, gear boxes and other components.

Market restraints:
- Presence of alternatives such as adhesives and rivets impedes the growth of bolts demand up to some extent.
- Fluctuating raw material prices of steel and iron impacts the cost of bolts manufacturing.


Segment Analysis
The Bolts market can be segmented based on product type as threaded bolts and non-threaded bolts. Among these, threaded bolts dominate the market as they are primarily used for fastening purposes in various applications like automotive, construction, machinery and others. They have threads on both the shaft and nut which allows them to be easily tightened or loosened as required.

Global Analysis
Regionally, the Asia Pacific region is expected to witness the fastest growth in the Bolts market during the forecast period. This can be attributed to rapid industrialization and urbanization activities in emerging economies like China and India. There is growing construction of plants, buildings and infrastructural projects which requires extensive use of bolts for assembly and joining applications. North America currently holds the largest share and is expected to maintain its dominance due to large automotive and machinery manufacturing industry in the US. Key players are focusing on expanding their operations in Asia to leverage growing product demand from end-use industries.

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