Dublin, April 26, 2024 (GLOBE NEWSWIRE) -- The "Blind Bolts Market Report by Product (Heavy Duty, Thin Wall), Diameter (M8, M10, M12, M16, and Others), Grade (Grade 8.8, Grade 10.9, Grade 316), Application (Automotive, Aerospace, Machinery and Equipment, Construction, and Others), and Region 2024-2032" report has been added to ResearchAndMarkets.com's offering.
The global blind bolts market has exhibited a robust growth trajectory, with a significant market size of USD 4.1 billion in the year 2023. Forecasts indicate that the industry is expected to expand further, reaching an estimated USD 6.2 billion by the end of 2032. A compound annual growth rate (CAGR) of 4.7% is projected for the period spanning 2023 to 2032. This growth is underpinned by a combination of factors including technological innovations, a focus on structural integrity, and the rise of construction and infrastructure projects globally.
Driving the market forward, heavy-duty blind bolts hold the majority share, essential in large-scale construction and infrastructure projects for their durability and ability to sustain heavy loads. In addition to product types, diverse diameters cater to a range of industry needs, with M12 diameter bolts leading the charge. In terms of material grade, Grade 10.9 is the segment frontrunner, highly sought after for its high tensile strength and resilience. Across applications, the automotive sector showcases a significant demand for blind bolts, capitalizing on their reliable and efficient fastening capabilities.
Regional Analysis Underlines Asia Pacific Dominance
The Asia Pacific region commands the largest market share, with its rapid urbanization and infrastructural advancement setting a vigorous pace. North America and Europe also contribute to the market's momentum, with their emphasis on safety and sustainability in construction projects. Meanwhile, emerging markets in Latin America and the Middle East and Africa are tapping into the industry's potential, propelled by demands in the mining and energy sectors.
Competitive Landscape Denotes Strategic Company Initiatives
Key industry players are engaging in strategic endeavors, focusing on product innovation and expanding to global markets to solidify their market presence. Conscious efforts toward incorporating sustainable practices are evident among market leaders, addressing the increasing call for environmental stewardship while maintaining growth and innovation.
Anticipating Market Trends and Opportunities
As the market stands at a pivotal juncture, the emphasis on technological advancements, safety, and structural integrity defines future trajectory. The continued rise in construction activities presents opportunities for the industry, with cost-efficiency and lifecycle benefits becoming central to investment decisions. Challenges pertinent to market competition and regulatory standards are present, but the industry is well-poised to navigate these with a strong focus on innovation and differentiation.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 145 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value (US$) in 2023 | US$4.1 Billion |
| Forecasted Market Value (US$) by 2032 | US$6.2 Billion |
| Compound Annual Growth Rate | 4.7% |
| Regions Covered | Global |
Companies Featured
- Arconic Corporation
- BMB Fasteners & Supply Inc.
- Cherry Aerospace (Precision Castparts Corp.)
- Elite Fasteners Inc.
- Howmet Aerospace Inc.
- Kwikbolt Ltd.
- LISI Aerospace
- Precision Castparts Corp. (Berkshire Hathaway Inc.)
- Stanley Black & Decker Inc.
- The Boeing Company
- TriMas Corporation
For more information about this report visit https://www.researchandmarkets.com/r/orlrap
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