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Blind Bolts Market Expected to Reach $5.7 Billion by 2030
PORTLAND, UNITED STATES, UNITED STATES, March 28, 2023 /einpresswire.com / -- According to a new report published by Allied Market Research, titled,“blind bolts market by Type, Diameter, Grade, and Application: Global Opportunity Analysis and Industry Forecast, 2021–2030,”The global blind bolts market was valued at $3.5 billion in 2020, and is projected to reach $5.7 billion by 2030, registering a CAGR of 4.8% from 2021 to 2030.
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Commonly observed types of blind bolts are heavy duty and thin wall. The market is analyzed with respect to different applications such as construction, railway, marine, aerospace, and others. The market is mainly driven by increase in manufacturing of various aircraft and helicopters and rise in construction activities. However, lack of expertise for installing the bolts hinders the market growth.
In terms of region, the global blind bolts market is analyzed across North America, Europe, Asia Pacific, and LAMEA. Asia-Pacific is expected to witness the highest growth during the forecast period due to operating assembly plants of Boeing and Airbus in China. Furthermore, there are upcoming indigenous aircraft programs such as COMAC C919 and Mitsubishi MRJ.
In addition, governments focus on increasing their defense budget to acquire latest military aircraft to improve their defense unit. All these factors influence the overall growth of the blind bolts market in the region. In Europe, rise in construction activity is expected to drive the blind bolts market during the forecast period. For instance, in Swansea, UK, Bouygues is going to build a hi-tech office by 2023. Such construction activities are expected to offer lucrative growth opportunities for the blind bolts market in this region.
However, during the pandemic, various manufacturers in the blind bolts market had to stop their business in countries such as China, the U.S., and India. In addition, lack of technology also constricted supply of machines of blind bolts. However, reopening of production facilities and introduction of vaccines for coronavirus disease are anticipated to lead to re-opening of blind bolts companies.
The key players 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.
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Key players in the blind bolts market are striving for innovation to cater to customer requirements, which is anticipated to propel the growth of the market during the forecast period. For instance, UK-based Parker tools has an exclusive product line known as high tensile grade 8.8 that caters to customers from the aerospace and other industries. Such factors are expected to offer lucrative growth opportunities for the market players during the forecast period.
Key Findings Of The Study
The report provides an extensive analysis of the current and emerging blind bolts market trends and dynamics.
By product type, the heavy duty segment registered highest revenue in 2020.
By application, the automotive segment registered highest revenue in 2020.
Asia-Pacific is projected to register highest growth rate in the coming years.
The key players of the blind bolts market are profiled in this report, and their strategies are analyzed thoroughly, which help understand competitive outlook of the blind bolts industry .
The report provides an extensive analysis of the current trends and emerging opportunities of the market.
In-depth blind bolts market analysis is conducted by constructing estimations for the key segments between 2021 and 2030.
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David Correa
Allied Analytics LLP
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