Global Machine Shops, Turned Product, And Screw, Nut, And Bolt Market Price 2024, Forecast To 2033
16 Jan, 2024
The machine shops, turned product, and screw, nut, and bolt market has seen strong growth, increasing from $461.86 billion in 2023 to $490.05 billion in 2024, with a 6.1% CAGR. Historic growth is attributed to industrial production, economic cycles, technological advancements, infrastructure development, and global trade. The market is projected to continue its strong growth, reaching $611.82 billion in 2028, with a 5.7% CAGR. Factors contributing to this growth include industry 4.0 and automation, sustainable manufacturing, electric vehicles, renewable energy, and aging infrastructure. Major trends in the forecast period include electrification, lightweighting, advanced materials, additive manufacturing, digitalization, and connectivity.
Global Machine Shops, Turned Product, And Screw, Nut, And Bolt Market Key Driver
The growth of the metal products market is anticipated due to the rapidly expanding urban populations worldwide. Urbanization is driving migration from rural to urban areas, leading to increased demand for housing and infrastructure. The World Urbanization Prospects Report by the United Nations projects that 68% of the world's population will live in urban areas by 2050. Consequently, the demand for metal products in construction and infrastructure development is expected to rise, contributing to the growth of the metal products market.
Get A Free Sample Of The Global Machine Shops, Turned Product, And Screw, Nut, And Bolt Market ReportGlobal Machine Shops, Turned Product, And Screw, Nut, And Bolt Market Segments
The machine shops, turned product, and screw, nut, and bolt market covered in this report is segmented –
1) By Type: Turned Product and Screw, Nut, and Bolt, Machine Shops
2) By Grade: GR 5.8, GR 8.8, GR 10.9, GR 12.9, Other Grades
3) By Application: Construction, Petrochemical, Heavy Machine Equipment, Automotive, Aerospace, Home Appliances, Motors and Pumps, Furniture, Plumbing Products, Other Applications
By Geography: The regions covered in the machine shops, turned product, and screw, nut, and bolt market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions
Western Europe was the largest region in the machine shops, turned product, and screw, nut, in 2023. The Asia-Pacific was the second-largest region in the machine shops, turned product, screw, nut, and bolt market. The regions covered in the machine shops, turned product, and screw, nut, market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Major Machine Shops, Turned Product, And Screw, Nut, And Bolt Industry Players
Berkshire Hathaway Inc., Illinois Tool Works Inc., Stanley Black & Decker Inc., Lisi S.A., The SFS Group AG, MISUMI Group Inc., Bulten AB, Arconic Inc., Precision Castparts Corp., Kennametal Inc., Timken Company, Mueller Industries Inc., Carpenter Technology Corporation, Fastenal Company, Acme Industrial Company, SPS Technologies LLC, Simpson Manufacturing Co. Inc., Barksdale Inc., Nucor Corporation, Arconic Inc., PennEngineering, The Olander Company Inc., MW Industries Inc., Marmon Holdings Inc., TriMas Corporation, MacLean-Fogg Company, Beacon Fasteners and Components, Scovill Fasteners, Alcoa Fastening Systems, Trifast Plc, Earnest Machine Products, Continental-Aero, EFC International, SPS Fasteners, The Hillman Group, Bastian Solutions, SureWerx
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Machine Shops, Turned Product, And Screw, Nut, And Bolt Market Overview
Machine shops, turned product, screw, nut, and bolt refer to a type of machine precision turned and metal fabricated products that are designed for machinery and equipment on a customized basis for the assembling of parts of machines, including engines, gears, and other parts.
Machine Shops, Turned Product, And Screw, Nut, And Bolt Global Market Report 2023 provides data on the global machine shops, turned product, and screw, nut, and bolt market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The machine shops, turned product, and screw, nut, and bolt market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.