Global demand for fasteners like bolts continues to increase with expanding construction, automotive, aerospace, and other industries. This is leading to steady growth of the bolts market, cropping up lucrative growth opportunities for players.
Leading bolt manufacturers, such as Fabory, REYHER, AB Steel, Fastenal Company, KD Fasteners, Keller & Kalmbach GmbH, and Brunner Manufacturing Co., Inc., are employing various organic and inorganic strategies to boost their revenue and stay ahead. New bolts with enhanced features, including high-strength, lightweight, and corrosion-resistance are being constantly developed to meet evolving needs of industries.
Strategies like collaborations, acquisitions, and joint ventures are becoming common in the global bolts industry as top players look to expand their presence in domestic and international markets. For instance, in March 2022, Fabory announced the acquisition of Fastto Nederland BV, a prominent fastener specialist with an updated product portfolio and strong customer advocacy. Together, the two fastener specialists will look to share their expertise and expand their footprint.
Similarly, in August 2022, Keller & Kalmbach Group and Mohindra Fasteners Ltd. started a new joint venture under the name of KK Mohindra Fastenings Private Limited to combine the best of both worlds. Being a leading specialist for fasteners and fixing technology as well as an expert in intelligent C-parts management, Keller & Kalmbach Group, headquartered in Munich, Germany, will help the India based Mohindra Fasteners Ltd. to provide C-parts management inventory to industrial customers in India.
According to a recent report published by Coherent Market Insights, the global bolts market value is projected to reach US$ 11.44 billion in 2030, up from US$ 8.29 billion recorded in 2023. Global sales of bolts are expected to rise at a CAGR of 4.7% during the assessment period.
Robust expansion of industries like construction, shipbuilding, automotive, and heavy machinery is a prominent factor propelling growth of the global bolts market. Similarly, rising demand for fastening solutions like bolts and innovations in bolt materials and the bolting process will benefit the industry in the coming years.
Bolts are the unsung heroes of construction as they play a pivotal role in holding structures or components together. These externally helical threaded fasteners are being widely used across construction, petrochemical, automotive, heavy machinery equipment, and medical device sectors.
Construction industry is becoming a major consumer of bolts, utilizing them in a wide range of applications, from structural elements in buildings to infrastructure projects like roads and bridges. Thus, a surge in residential, commercial, and industrial construction activities will likely boost global sales during the forecast period.
Another prominent factor expected to fuel global demand for bolts is the rapid transition towards renewable energy. Furthermore, growing need for lightweight, high-performance bolts in automotive and aerospace industries is anticipated to create growth avenues in the market.
“Innovation in bolt materials and designs is anticipated to play a key role in facilitating market growth during the assessment period,” says a lead analyst at Coherent Market Insights. Top companies are constantly exploring new high-strength alloys, composites, and advanced steel for producing bolts that are stronger, lighter, and more resistant to corrosion and extreme temperatures.
Regionally, Asia Pacific dominates the global bolts market owing to rapid penetration of industrialization and increasing construction activities, especially in nations like China and India. North America, spearheaded by the United States, is also becoming a highly lucrative market for bolt manufacturers. This is attributed to the region’s well-established automotive, aerospace, and construction industries, presence of leading players, and ongoing technological advancements.
