(MENAFN- EIN Presswire) EINPresswire/ -- Machine Shops, Turned Product, And Screw, Nut, And Bolt Market Growth Forecast: What To Expect By 2025?
In recent times, the market size of machine shops, along with turned products, and screw, nut, and bolt sectors, has seen consistent growth. The market is projected to expand from $428.22 billion in 2024 to $445.78 billion in 2025, following a compound annual growth rate (CAGR) of 4.1%. Factors such as industrial production, economic cycles, technological innovation, infrastructure growth, and global trade have contributed to the growth during the historic period.

The market size for machine shops, turned product, and screw, nut, and bolt, is anticipated to witness consistent expansion in the upcoming years. It is predicted to reach a value of $538.47 billion in 2029, growing at a compound annual growth rate (CAGR) of 4.8%. Factors contributing to the growth during this projected period include industry 4.0 and automation, sustainable production, the advent of electric cars and renewable energy, as well as aging infrastructure. Key trends expected to shape the forecast period entail electrification and lightweighting, the use of advanced materials, the rise of additive manufacturing, digitalization and enhanced connectivity, collaborations, and partnerships.

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What Are Key Factors Driving The Demand In The Global Machine Shops, Turned Product, And Screw, Nut, And Bolt Market?
The anticipated surge in urban populations is predicted to bolster the need for metal products within the forecast period. Many individuals residing in rural regions are relocating to urban environments in pursuit of improved living conditions, thereby possibly escalating the demand for housing and infrastructure. It is projected that infrastructure requirements will noticeably rise in Asian nations such as China, India, Vietnam, and the Philippines. The World Urbanization Prospects Report by the United Nations states that about 55% of the global population resided in urban areas, a proportion anticipated to touch 68% by 2050. As per the World Bank, the urban populace in South Asia is projected to reach 250 million by 2030.

Who Are The Leading Players In The Machine Shops, Turned Product, And Screw, Nut, And Bolt Market?
Major players in the Machine Shops, Turned Product, And Screw, Nut, And Bolt include:
. 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.

What Are The Key Trends Shaping The Machine Shops, Turned Product, And Screw, Nut, And Bolt Industry?
A significant number of businesses involved in machine shop operations, turned product production and screw, nut and bolt manufacturing are resorting to robotics and automation technologies to enhance their plant performance and yield. The deployment of sensors in different machines is facilitating the collection of critical data that can be used to boost efficiency and pre-empt potential malfunctions. In a distinctive illustration, a study conducted by the International Federation of Robotics (IFR), a company based in Germany, revealed that, for the first time in 2023, the UK reported a tremendous surge in industrial robot implementation. Specifically, a total of 3,830 units were set up, marking a rise of 51% in comparison to the figures from the preceding year in September 2024.

Analysis Of Major Segments Driving The Machine Shops, Turned Product, And Screw, Nut, And Bolt Market Growth
The machine shops, turned product, and screw, nut, and bolt market covered in this report is segmented –
1) By Type: Turned Product, 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

Subsegments:
1) By Turned Product: Precision Turned Parts, CNC Turned Parts, Automatic Lathe Turned Parts
2) By Screw, Nut, Bolt: Screws (Machine Screws, Wood Screws, Self-tapping Screws), Nuts (Hex Nuts, Lock Nuts, Wing Nuts), Bolts (Hex Bolts, Carriage Bolts, Shoulder Bolts)
3) By Machine Shops: Custom Machining Services, CNC Machining, Metalworking and Fabrication

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Which Region Is Expected To Lead The Machine Shops, Turned Product, And Screw, Nut, And Bolt Market By 2025?
In 2024, Western Europe held the top position in the market for Machine Shops, Turned Product, and Screw, Nut, and Bolt. Coming in second was the Asia-Pacific region. The market report delineates seven regions which include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

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