Bolts Market

Growth of the construction sector and technological advancements are driving the market growth

Market CAGR for Bolts is driven by the growth of the construction sector and technological advancements. The incredible demand for the bolts market is boosted by the construction of new infrastructure bases, which include buildings, bridges, roads, and so on, since bolts are an essential component of construction. Construction starts in the U.S. came up to $912 billion last year, having increased 16.7 % as compared to 2021. A megaproject record value (projects valued over $1 Billion) was reached in 2022, with 31 megaprojects put into effect for a total value of $105.3 billion. 

Non-residential building starts increased by 36.7% directly from new factory buildings entering the market. Construction starts of new buildings jumped up to $912 billion from the previous year at a 16.7% rate of growth. As per Statistics Canada (February 2023), the construction investment in the building industry saw a month-on increment of 1%, which was equal to $20.6 billion. On the other hand, capital investment in non-residential construction, which is equivalent to $208,780.5 million, increased by 3.8% from the year before.

Technology progresses further and new materials, as well as production methods, are becoming available that can increase the strength, durability, and performance of bolts. This will make it possible to design or create new bolts that are more effective and energy-saving. Such bolts or products can be beneficial to both consumers and manufacturers. For example, 3D printing applications successfully produce bolts with complicated shapes, which is considered impossible with traditional prototyping methods. 

Thus, driving the Bolts Market revenue.

The Global Bolts Market Industry is projected to witness substantial growth over the next decade. With a market value anticipated to reach 69.4 USD Billion by 2035, the industry is expected to benefit from various factors, including technological advancements, increased construction activities, and the rising demand from sectors such as automotive and renewable energy. The compound annual growth rate of 4.54% from 2025 to 2035 indicates a steady expansion trajectory. This growth reflects the industry's adaptability to changing market dynamics and the continuous need for innovative fastening solutions across diverse applications.

The Global Bolts Market Industry experiences a notable boost due to the increasing construction activities worldwide. As urbanization accelerates, particularly in developing nations, the demand for robust fastening solutions like bolts surges. For instance, the construction sector is projected to contribute significantly to the market, with the industry valued at approximately 42.6 USD Billion in 2024. This growth is further fueled by government initiatives aimed at infrastructure development, which often necessitate the use of high-quality bolts for structural integrity. Consequently, the Global Bolts Market Industry stands to benefit from these ongoing projects, indicating a promising trajectory for manufacturers and suppliers.

The automotive sector significantly influences the Global Bolts Market Industry, as vehicles require a multitude of fastening solutions for assembly and safety. With the rise of electric vehicles and advancements in automotive design, the demand for specialized bolts is expected to increase. This sector's growth is indicative of a broader trend towards lightweight materials and enhanced vehicle performance, which necessitates the use of high-strength bolts. As the automotive industry evolves, it is anticipated that the Global Bolts Market Industry will see a compound annual growth rate of 4.54% from 2025 to 2035, reflecting the increasing integration of innovative fastening solutions.

The Global Bolts Market Industry is poised for growth due to the expansion of renewable energy projects globally. As nations strive to meet sustainability goals, investments in wind, solar, and hydroelectric power are on the rise. These projects require durable and reliable fastening solutions, making bolts an essential component in their construction and maintenance. The increasing focus on renewable energy not only drives demand for bolts but also encourages manufacturers to innovate and produce specialized products tailored for these applications. This trend suggests a robust future for the Global Bolts Market Industry, as it aligns with global efforts towards cleaner energy solutions.

Technological innovations play a crucial role in shaping the Global Bolts Market Industry. The introduction of advanced manufacturing techniques, such as automated production lines and precision engineering, enhances the quality and efficiency of bolt production. These advancements not only reduce manufacturing costs but also improve product reliability, which is essential for industries like automotive and aerospace. As a result, manufacturers are likely to see an increase in demand for high-performance bolts. The ongoing evolution in manufacturing technology suggests that the Global Bolts Market Industry will continue to expand, potentially reaching a market size of 69.4 USD Billion by 2035.

Emerging markets are becoming pivotal in the Global Bolts Market Industry, driven by rapid urbanization and infrastructure development. Countries in Asia and Africa are investing heavily in transportation, housing, and commercial projects, which necessitate the use of high-quality bolts for structural support. This surge in infrastructure spending is expected to propel the market forward, with projections indicating a market size of 42.6 USD Billion in 2024. As these regions continue to develop, the demand for reliable fastening solutions will likely increase, presenting opportunities for manufacturers to expand their reach and cater to the evolving needs of these markets.

By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The anticipated expansion of the Endoscopic Ultrasound needle market in North America can be attributed to several key factors.

The development of diverse industries like automotive, aerospace, etc., are the major contributors to the consumption of bolts in the market. The thriving manufacturing industry of the United States and the huge infrastructure projects carried out by the country are also major reasons for such demand. The federal government spent $ 44.8 Billion on infrastructure and transferred $81.5 Billion to the states by 2023. FEMA has issued over $210.0 million for the restoration and reconstruction of infrastructure damaged by the hurricanes, tornadoes, and flooding that happened in 2023.

Further, the major countries studied in the market report are the US, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: BOLTS MARKET SHARE BY REGION 2023 (USD Billion)

Source: Secondary Research, Primary Research, Market Research Future Database and Analyst Review

Europe's Bolts Market accounts for the second-largest market share as Bolts are irreplaceable elements that tightly fix all parts from engine to chassis and body panels on a conveyor belt. With the changing competence in the automotive sector, which is now focused on the use of electric vehicles (EV) and lightweight materials for extreme fuel efficiency and better performance, demand has increased for bolts that can be fitted into these requirements. Driven by the positive sales of 2017, the growth of new car sales worldwide almost reach 10% in 2022.

The year 2021 saw vehicle sales increase by approximately 14% within the EU, with nearly 10.5 million vehicles sold. Globally, car production reached 76 million units, which represents a record of nearly 10.2% growth. The EU became the second-largest global car producer after exports of 12.1 million units, which showed an increase of 11%. Further, the German Bolts Market held the largest market share, and the UK Bolts Market was the fastest-growing market in the European region.

The Asia-Pacific Bolts Market is expected to grow at the fastest CAGR from 2024 to 2032. The Asia Pacific area also functions as a highly important exporter of bolts, with several of the large producers there supporting their development and contributing to the region's overall economic growth. The urbanization and infrastructure development in the region are accompanied by a rapid tempo. So, bolts will be in demand in building applications such as structural steelwork, scaffolding, and concrete reinforcement.

India's urban population is reportedly approximately 508,368,361 in 2022, a 2.05% increase compared to the 2021 figure of 498,179,071, which also shows a 2.15% rise between 2020 and 2021. The population share in mid-year by 2035 for urban dwellers will be 43.2%, according to a report by the UN. Moreover, China’s Bolts Market held the largest market share, and the Indian Bolts Market was the fastest-growing market in the Asia-Pacific region.

Leading market players are investing heavily in research and development to expand their product lines, which will help the Bolts market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Bolt's industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Bolts industry to benefit clients and increase the market sector. In recent years, the Bolts industry has offered some of the most significant advantages to the construction, manufacturing, automotive, and infrastructure sectors. Major players in the Bolts Market, including 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 are attempting to increase market demand by investing in research and development operations.

A.B. Steel, the ironworking union company, is owned by Jennifer Abraham and is located in Allentown, Pennsylvania. The company provides installation of reinforcing steel, which comes with comprehensive 24-hour mill maintenance and emergency operations. Similarly, construction services comprise the installation of factory-built structures and steel erection. A.B. Steel, Inc. provides a talent pool of well-trained, responsible personnel with a desire and commitment to perform for every contract and project that comes their way. Pipes and Tubes with the most precise characteristics are fully lined up with the strictest standards.

A & B Steel Company manufactures Stainless Steel Pipes, Tubes, Fittings, Flanges, Sheets, Plates, Coils, Rods, Wires, and alike.

Brunner started its journey in Elroy, Wisconsin, in 1963 and was officially incorporated as Brunner Drilling and Manufacturing Company Inc. in 1966. The Company was established as a small-scale manufacturing company with few employees who focused their activities mainly on drilling parts. Over the period, as the Company continued growing, its product lines increased from pins and fastening products to bolts. In the process, the Company also offered its customers more products combined with more value-added services, as in the case of distribution.

The Company increased its geographical spread in 1990 with the commencement of an outlet in Greenwood, South Carolina. Moreover, with the demand for Original Equipment Manufacturing (OEM) products rising in the southeast, Brunner added the Greenwood site to support its customer base in the southeast.