Bolts Global Market Report 2024

The bolts market size has grown strongly in recent years. It will grow from $46.24 billion in 2023 to $48.72 billion in 2024 at a compound annual growth rate (CAGR) of 5.4%. The growth observed during the historical period can be attributed to several contributing factors, including increased construction and infrastructure development activities, expansions in manufacturing and industrial sectors, growth in automotive production, exploration and production activities in the oil and gas sector, and the demand for infrastructure repair and maintenance projects. These factors collectively drove the utilization of bolts, as they play a fundamental role in connecting and securing components in various applications across construction, manufacturing, automotive, and energy sectors.

The bolts market size is expected to see steady growth in the next few years. It will grow to $58.9 billion in 2028 at a compound annual growth rate (CAGR) of 4.9%. The anticipated growth in the forecast period can be attributed to ongoing global urbanization trends, the development of renewable energy projects, the expansion of electric vehicle (EV) manufacturing, efforts towards infrastructure resilience and upgrades, and the increasing activities in the aerospace and defense sectors. These factors are expected to drive the demand for bolts across various industries. Major trends expected in the forecast period include the adoption of Industry 4.0 in manufacturing processes, a growing emphasis on eco-friendly bolting solutions, an increased focus on bolt testing and certification standards, and a broader trend towards globalization and enhancing supply chain resilience. These trends reflect the evolving landscape of the bolt industry, aligning with advancements in technology, sustainability goals, and the need for robust and efficient manufacturing processes.

The surge in construction activities is anticipated to be a significant driving force behind the expansion of the bolts market in the foreseeable future. Construction activities encompass a diverse array of operations necessary for building structures, infrastructure, and buildings. Bolts, including structural bolts and anchor bolts, play an essential role in various construction applications, securing beams to columns or walls, attaching joists to ledgers, fastening deck boards, and forming stable foundations for bridges or buildings. Notably, statistical data from the U.S. Census Bureau in December 2021 indicated a notable increase in housing unit commencements, with an estimated 15.6% rise from 2020, reflecting an upsurge in construction activities. Additionally, the United States Census Bureau's recent statistical report in March 2023 revealed a 16.3% growth in total construction spending, escalating from $1.54 trillion in November 2020 to $1.84 trillion in November 2022. Thus, the heightened construction endeavors are poised to drive the growth trajectory of the bolts market.

The rapid pace of industrialization is expected to serve as a pivotal factor propelling the growth of the bolts market moving forward. Industrialization signifies the transformation of an economy or society from agrarian and craft-based activities to a more industrialized structure. Bolts serve as indispensable fastening components crucial for providing structural integrity and enhancing assembly efficiency across various sectors, including manufacturing, construction, and machinery. Their robustness, versatility, and cost-effectiveness make bolts integral in securing joints and structures within industrial settings. For instance, Eurostat reported a 0.5% increase in industrial production in the euro area and a 0.4% rise in the EU in June 2023 compared to May 2023, signifying ongoing industrial growth. Consequently, the rapid industrialization drive is poised to fuel the growth trajectory of the bolts market.

Technological advancements stand out as a prominent trend gaining traction within the bolts market, with companies actively embracing new technologies to bolster their market standing. An illustrative case is Strainlabs AB, a Swedish IndTech firm, which in September 2021 introduced a pioneering technology termed IoT (Internet of Bolts). This groundbreaking technology incorporates bolts embedded with built-in sensors, enabling remote and automated application monitoring. Employing LED sensors, this unique system digitally evaluates elongation in preloaded bolts, facilitating industrial maintenance by proactively alerting before potential malfunctions. Given that bolts are ubiquitous connectors susceptible to inspections, maintenance, and breakdowns, such proactive monitoring significantly mitigates the risks associated with unforeseen production stoppages, which tend to incur longer repair times than planned maintenance. Strainlabs' IoT technology, by preemptively issuing alerts prior to bolt failures, directly translates into tangible operational benefits.

Major companies in the bolts market are dedicating efforts towards developing innovative products such as through-bolts to offer enhanced reliability to customers. Through-bolts refer to fasteners passing entirely through multiple material pieces, typically secured by a nut or other threaded attachment opposite the head. In June 2021, EJOT, a Germany-based manufacturer specializing in building and industrial fasteners, unveiled the EJOT BA Plus. This product design streamlines the installation process by achieving the necessary installation torque with 30–50% fewer revolutions than before. Furthermore, the new M8 and M10 through-bolts, which are up to 20 mm slimmer in concrete, can now be used for anchoring purposes. The design ensures straightforward installation, featuring an integrated sleeve that uniformly expands as the bolt tightens, eliminating the risk of damaging the thread during placement. The EJOT BA Plus demonstrates a commitment to innovation, delivering efficient installation processes and reinforcing reliability in bolt anchoring applications.

In January 2023, GMS Inc., a construction goods supplier based in the United States, successfully acquired Tanner Bolt and Nut Inc. The specific financial details of the acquisition were undisclosed. This move is expected to enhance GMS Inc.'s operations by expanding its reach, improving service capabilities, and diversifying its product offerings. Tanner Bolt and Nut Inc., also based in the United States, is recognized for its role as a manufacturer of fasteners, screws, safety products, and related items within the construction industry.


Major companies operating in the bolts market report are Nippon Steel, Arconic Corporation, KAMAX Holding GmbH & Co. KG., Acument Intellectual Properties LLC, Keller & Kalmbach GmbH, Reyher Nchfg. GmbH & Co. KG., Fabory Group, Fastenal Company, US Bolt Manufacturing Inc., Easylink Industrial Co. Ltd., Brunner Manufacturing Co. Inc., Elgin Fastener Group LLC, Dokka Fasteners AS, Fastco Industries Inc., Rockford Fastener Inc., Big Bolt Nut, Leland Industries Inc., Jignesh Steel, Hague Fasteners, Kpf Co. Ltd., B&G Manufacturing Co. Inc., Hanger Bolt & Stud Co., BTM Manufacturing, Chicago Nut & Bolt Inc., National Bolt & Nut Corporation, AB Steel Inc., KD Fasteners Inc., Würth Industrie Service GmbH & Co. KG., Ifastgroupe.

Asia-Pacific was the largest region in the bolts market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the bolts market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the bolts market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary types of bolts include half-screw bolts and full-screw bolts. A half-screw bolt is characterized by a hexagonal head and threads running the entire length of the bolt. These bolts are crafted from diverse materials, including metal and plastic, and are produced in various grades such as Grade 5.8, 8.8, 10.9, 12.9, among others. They find applications in a wide range of industries, including automotive, aerospace, construction, industrial machinery, and others.

The bolts market research report is one of a series of new reports that provides bolts market statistics, including bolts industry global market size, regional shares, competitors with a bolts market share, detailed bolts market segments, market trends and opportunities, and any further data you may need to thrive in the bolts industry. This bolts market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The bolts market consists of sales of carriage bolts, eye bolts, anchor bolts, plough bolts, and lag bolts. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.