The Bolts Global Market Report 2023, provides comprehensive information on the bolts market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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The global bolts market size is expected to grow from $43.80 billion in 2022 to $46.24 billion in 2023 at a compound annual growth rate (CAGR) of 5.57%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The size of bolts market is expected to reach $55.78 billion in 2027 at a CAGR of 4.80%.
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Technological advancements are the key trends gaining popularity in the bolts market. Companies operating in the bolt market are adopting new technologies to sustain their position in the market. For instance, in September 2021, Strainlabs AB, a Sweden-based IndTech firm that provides remote and automated application monitoring via the Internet of Bolts, launched a new technology called IoT technology that uses bolts with built-in sensors to automatically monitor equipment and applications. This is a one-of-a-kind approach for evaluating elongation in preloaded bolts using an LED sensor. The system takes a digital approach to industrial maintenance and sends out alerts before a malfunction occurs. Because bolts are the most prevalent method of connecting pieces, they are also a common source of inspections, maintenance, and breakdowns. Unplanned production stoppages are well known to take several times longer to repair than planned maintenance. Strainlabs by delivering alerts before a bolt comes free, bolts immediately enable concrete benefits.
The bolts market is segmented:
1) By Type: Half Screw Bolt, Full Screw Bolt
2) By Material: Metal, Plastic, Other Materials
3) By Grade: Grade 5.8, Grade 8.8, Grade 10.9, Grade 12.9, Other Grades
4) By End-User: Automotive, Aerospace, Construction, Industry Machinery, Other End-Users
Asia-Pacific was the largest region in the bolts market in 2022.
The table of contents in TBRC’s bolts market report includes:
1. Executive Summary
2. Bolts Market Characteristics
3. Bolts Market Trends And Strategies
4. Bolts Market – Macro Economic Scenario
5. Global Bolts Historic Market Size and Growth, 2017 – 2022, Value ($ Billion)
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32. Global Bolts Market Competitive Benchmarking
33. Global Bolts Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Bolts Market
35. Bolts Market Future Outlook and Potential Analysis
36. Appendix
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