Blind Bolts Market Research - 2030
The global blind bolts market was valued at $3,585.8 million in 2020, and is projected to reach $5,770.2 million by 2030, registering a CAGR of 4.8% from 2021 to 2030.
Market Dynamics
A blind bolt is a fastener that is meant to be stronger and last longer than a rivet or weld. It is termed "blind" as it is only placed from one side of the material to be connected, making it ideal for maintenance and production. It might be difficult to choose proper fastener for the job as it comes in a variety of sizes and designs. Furthermore, selecting the right blind bolt delivers maximum strength.
Rising production and manufacturing of various aircraft, such as military aircraft, commercial aircraft, helicopters, and others, is expected boost the market growth for blind bolts in the coming years. For instance, manufacturing of Future Vertical Lift helicopters for the U.S. army and F/A-XX multi combat aircraft for the U.S. Navy will enter in service in 2025-2030. This is anticipated to drive the growth of the blind bolts market. Furthermore, blind fasteners are becoming more popular than conventional fastening. Therefore, this factor is expected to surge the demand for blind bolts.
Furthermore, increase in government investment in large-scale infrastructure projects is projected to surge the demand for blind bolts during the forecast period. Governments across the globe are spending heavily on infrastructure development. For instance, in October 2019, Union Steel Minister of India said that India will spend $1.4 trillion in the next five years for infrastructural development while speaking at the Global Forum on Excess Capacity in Tokyo. Similarly, in August 2019, the Prime Minister of Japan, Shinzo Abe while addressing TICAD (Tokyo International Conference on African Development) invested $20 billion in Africa over three years. This is anticipated to flourish the growth of the market during the forecast period.
By Product Type
Thin wall segment is projected to grow at a significant CAGR
The novel coronavirus has rapidly spread across various countries and regions, causing enormous impact on lives of people and overall community. Originating as a crisis to human health, it now poses significant threat to worldwide trade, economy, and finance. Attributed to continuous lockdown in major countries, the COVID-19 pandemic has halted production of many items in the blind bolts business. Market players can afford complete lockdown only for a limited period, after which they would have to alter their investment plans. Furthermore, number of COVID-19 cases is expected to reduce in the near term as vaccines for COVID-19 have been introduced in the market. This is further expected to lead to re-initiation of blind bolts companies at their full-scale capacities, which would aid the market to recover by the start of 2022. After COVID-19 infection instances start to decline, equipment and machinery producers must focus on protecting their staff, operations, and supply networks to respond to urgent emergencies and establish new methods of working.
Segmental Overview
The global blind bolts market is segmented on the basis of product type, diameter, grade, application, and region.
By type, the market is bifurcated into heavy duty and thin wall type.
By diameter, the market is bifurcated into M8, M10, M12, M16, and Others.
By grade, the market is bifurcated into Grade 8.8, Grade 10.9, and Grade 316.
Depending on application, it is fragmented into aerospace, construction, marine, railway, and others.
Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific is expected to grow significantly at high CAGR during the forecast period due to its industrial sector development. Similarly, North America is the second fastest growing region after Asia-Pacific, owing to growth in aerospace industries. For instance, the U.S. military is developing and manufacturing various new military aircraft such as Boeing T-7 Red Hawk, Northrop Grumman B-21 Raider, and many more. This is expected to offer lucrative growth in blind bolts market in the region.
By Application
Automotive segment holds dominant position in 2020
Furthermore, growth in the global aerospace industry is expected to surge the demand for aircraft components and parts. The expansion of the aerospace industry is expected to positively impact the growth of the blind bolts industry. Various competitors are working on factors, such as low cost, toughness, and vibration tolerance, for the development of blind bolts to serve aerospace industries. For instance, in Germany, industrialization is growing at a significant pace from the past few years. For instance, in March 2020, Germany witnessed a surge of 5.5% in industrial orders on aerospace and mechanical engineering bookings in March 2020 as compared to February 2020.
Competition Analysis
Key companies profiled in the blind bolts market report include 3V Fasteners Company Inc., ELITE Fasteners, Inc., Henry Venables Product Ltd., Kwikbolt Limited, Arconic Corporation, PCC Fasteners, Precision Castparts Corp., Stanley Black & Decker Inc., TriMas Corporation, and BMB Fasteners.
By Region
Asia-Pacific holds a dominant position in 2020 and is expected to grow at a significant rate during the forecast period.
Key Benefits For Stakeholders
- The report provides an extensive analysis of the current and emerging blind bolts market trends and dynamics.
- In-depth emerging blind bolts market analysis is conducted by constructing market estimations for key market segments between 2020 and 2030.
- Extensive analysis of the emerging blind bolts market is conducted by following key product positioning and monitoring of top competitors within the market framework.
- A comprehensive analysis of all the regions is provided to determine the prevailing opportunities.
- The global emerging blind bolts market forecast analysis from 2021 to 2030 is included in the report.
- The key players within the blind bolts market are profiled in this report and their strategies are analyzed thoroughly, which help understand the competitive outlook of the emerging blind bolts industry.
Blind Bolts Market Report Highlights
| Aspects | Details |
 By TYPE |
|
 By DIAMETER |
|
 By GRADE |
|
 By APPLICATION |
|
 By Region |
|
 Key Market Players | ELITE Fasteners, Inc., Arconic Corporation, StanleyBlack&Decker Inc., Henry Venables Product Ltd, PCC Fasteners, Kwikbolt limited, 3V Fasteners Company, Inc., Precision Castparts Corp., TriMas Corporation, BMB Fasteners |
Analyst Review
The blind bolts market has witnessed significant growth in the past few years,] due to increase in manufacturing of aircraft and helicopters and rapid growth of automotive and engineering sectors, which are expected to contribute significantly to the growth of the blind bolts market in the coming years.
On the basis of application, the blind bolts market is divided into construction, railway, aerospace, marine, and others. Furthermore, future advancements in blind bolds due to rise in manufacturing of aircraft and automotive sectors can offer lucrative growth opportunities for the market during the forecast period.
Moreover, blind bolt is made up of three parts, steel pin, collar, and sleeve, which are placed into a pre drilled hole and extend on the blind side when tightened, forming a strong connection, and thus are commonly used to keep steel girders together. Therefore, rapid rise in the construction sector will result in significant growth of the market during the forecast period.
The Blind Bolts Market size was valued at $3,585.8 million in 2020.
Based on product type, the heavy duty segment type holds the maximum market share of the Blind Bolts Market in 2020.
The Blind Bolts Market is projected to reach $5,770.2 million by 2030.
Growing automotive industry around the globe and increase in investments in aerospace industry are the key trends in the Blind Bolts Market.
The product launch is key growth strategy of Blind Bolts Market industry players.
The company profile has been selected on factors such as geographical presence, market dominance (in terms of revenue and volume sales), various strategies and recent developments.
Fluctuation in raw material prices is the effecting factor for Blind Bolts Market.
The end users of Blind Bolts Market include automotive, aerospace, construction, and other industries.
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