Bolts Market is predicted to reach USD 59.98 billion at a CAGR of 5.00% during the forecast period 2023-2032

Market Research Future (MRFR) has published on the “Global Bolts Market”.

The Bolts Market is estimated to register a CAGR of 5.00% during the forecast period of 2024 to 2032.

MRFR recognizes the following companies as the key players in the global Bolts Market— Fabory, Fastenal Company, Würth Industrie Service GmbH & Co. KG, REYHER, AB Steel Inc., Brunner Manufacturing Co., Inc., KD FASTENERS, INC., KELLER & KALMBACH GmbH, Rockford Fastener, Inc., Viha Steel & Forging.

Market Highlights

The global Bolts Market is accounted to register a CAGR of 5.00% during the forecast period and is estimated to reach USD 59.98 billion by 2032.

The increasing utilization of automated bolt fastening systems, along with the expanding use of carbon and alloy bolts across diverse application industries, is anticipated to drive market growth in the upcoming forecast period.

Segment Analysis

The global Bolts Market has been segmented based on Product, Application, and Grade.

Based on the Product, the market is segmented into M6, M8, M10, M12, M14, and Others. The M6 segment was attributed to holding the largest market share in 2023. M6 is one of the most common fasteners used in applications where small bolts are required, but they have to provide sufficient strength and durability. The adaption of the product in building industrial machinery is anticipated to be the major component of the growth of the market during the given period.

Based on the Application, the Bolts Market has been segmented into Construction, Petrochemical, Heavy Machine Equipment, Automotive, Aerospace, and Others. The Construction segment was expected to hold the largest market share in 2023. Bolts are needed to interconnect various elements of the structure, for example, beams, columns, and trusses. The reason for this is that bolts represent a connection that holds a strong and sure strength. This attribute introduced equilibrium and safety. It can be used to anchor heavy gear to concrete or other aids. The growth in the construction industry owing to a constant raging of investments in residential and commercial infrastructure worldwide is slated to contribute to the industry growth during the analyzed period. 

Based on the Grade, the Bolts Market has been segmented into GR 5.8, GR 8.8, GR 10.9, GR 12.9, and Others. The GR 8.8 segment was expected to hold the largest market share in 2023, due to extensive product usage in railway track construction. The launch of many metro rail projects in the economy that is growing, such as in India, is slated to facilitate a positive growth direction for the demand for GR 8.8 bolts over the coming years.

Regional Analysis

The global Bolts Market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of the US and Canada. The Europe Bolts Market comprises Germany, France, the UK, Italy, Spain, and the rest of Europe. The Bolts Market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Bolts Market comprises the Middle East, Africa, and Latin America.

The largest market share for the Bolts Market was maintained by the North American regional sector. North America's bolt market originates from many factors, including demand for development projects, investment in renewable energy, technological improvements in industrial materials, and manufacturing processes. A total of 31 GW of solar generation, which is a 55% increase over 2022’s installations and approximately twice as much as in 2021, has resulted in the highest capacity ever installed in the U.S. Wind contributed to moderate growth during 2023 (roughly 8 GW), while it performed slightly lower than 2022's installations. Installed capacity has shown a surge to 147 GW in the first three quarters so far, which would be about 11% of the power generation. By 2050, it is predicted that the U.S. will obtain more than 42% of its electricity from renewables compared to approximately 20% today.

Moreover, the Europe market has been persistently growing over the forecast period. The European market sees a surge in building activities fueled by the reduced mortgage rates, which consequently boosts the use of bolts in new construction and renovation undertakings. Regarding the production in construction within the euro area, there was a 0.8% growth in December 2023 compared with November 2023 (first estimates from Eurostat). In the EU, the production growth was more pronounced, with 1.3% within the same time frame. The euro area EA average production in construction in the year 2023 saw an annual average increase of 0.2%, whereas the EU average production in construction increased by 0.1% compared to the year 2022.

The high rate of urbanization and industrialization, including more disposable income, is anticipated to fuel construction activities in the Asia Pacific region, which, consequently, is supposed to stimulate the market . The construction sector in the Indian country is forecasted to expand into as big as $1.4 Tn by 2025. Under NIP, India has made an allocation of $1.4 Tn for infrastructure, and here, 24% is allotted to renewable energy, 18% to roads & highways, 17% to urban infrastructure, and 12% to rail network. The real estate portion in this segment bagged Rs. 3996 crores as private equity investments during this period. With a total investment of US$ 3.241 billion in the form of 19 (23,946 crores INR) deals, it was an astonishing machinery industry show. In the first half of 2021, the Indian economy has seen investments worth USD 2.4 billion into real-estate assets, an increase of 52% YoY compared to last year.

Furthermore, the rest of the world's Bolts Market is divided into the Middle East, Africa, and Latin America. The Engineering and Construction sector has been considered to be the main force behind the success of the bolts industry in the market region. The sizes of several large-scale building projects that are currently underway, which include the Expo 2020 Dubai World Fair and the FIFA World Cup Qatar 2022, have led to a sharp rise in the demand for bolts and other fasteners. As well as that, the Middle East houses some important ports that have turned into prominent logistics terminals for trade and commerce. The growth stimulated by the movement of goods alone has also caused a spike in demand for a wide range of fasteners as well as the ones used in the shipping and transportation industries.

Key Findings of the Study

• The global Bolts Market is expected to reach USD 59.98 billion by 2032, at a CAGR of 5.00% during the forecast period.


• The Asia-Pacific region accounted for the fastest-growing global market because of the rapid urbanization and infrastructure development.


• Based on Product, the M6 segment was attributed to holding the largest market in 2023, with an approximate market share of 55–60%.