Hex Bolt Market: Global Industry Analysis and Forecast (2022-2029)

Hex Bolt Market size was valued at US$ 17.03 Bn. in 2021 and the total revenue is expected to grow at a CAGR of 2.9% through 2022 to 2029, reaching nearly US$ 21.40 Bn.
Hex Bolt Market Overview:
Hex Bolt Market is expected to reach at US$ 21.40 Bn. by 2029. Bolts having a six-sided hexagon head and an externally threaded body are known as hex bolts. The hexagonal head design allows for easy wrenching while still applying sufficient torque to the bolting joint. With hex nuts or a tapped hole, hex bolts are utilised. Other names for Hex bolts include hexagon head bolts and Hex machine bolts. Steel or stainless steel is commonly used to make hex bolts. Steel and stainless steel hex bolts are the norm, while some manufacturers provide hexagonal bolts made of other materials.To know about the Research Methodology :- Request Free Sample Report

Hex Bolt Market size was valued at US$ 17.03 Bn. in 2021 and the total revenue is expected to grow at a CAGR of 2.9% through 2022 to 2029, reaching nearly US$ 21.40 Bn.
Hex Bolt Market Overview:
Hex Bolt Market is expected to reach at US$ 21.40 Bn. by 2029. Bolts having a six-sided hexagon head and an externally threaded body are known as hex bolts. The hexagonal head design allows for easy wrenching while still applying sufficient torque to the bolting joint. With hex nuts or a tapped hole, hex bolts are utilised. Other names for Hex bolts include hexagon head bolts and Hex machine bolts. Steel or stainless steel is commonly used to make hex bolts. Steel and stainless steel hex bolts are the norm, while some manufacturers provide hexagonal bolts made of other materials.
Hex Bolt Market Dynamics:
Hex Bolts are constructed of anti-corrosion stainless steel, alloy steel, and carbon steel components, which ensure that the structure does not rust and has a high tensile strength, which is a driving element in the global hex bolt market's growth. To avoid calamities, the automotive industry ensures that the head bolts used in vital places are held in tension that exceeds the fastener's maximum load and that the joints are kept as tight as possible. Hex bolts are designed to withstand weights of 65 to 90 percent of their yield strength, which is expected to drive the Global Hex Bolt Market.

Automotive Industry is growing

Due to the increased production of automobiles, the global automotive industry is expected to grow significantly during the forecast period. To cut down on fuel usage, automakers are continually designing new drivetrains and more fuel-efficient engines. They're also using emission-control technology to create cleaner vehicles. Furthermore, as a result of global initiatives such as the Paris Agreement, numerous countries around the globe are imposing higher emission standards on new vehicle model production. Automobile manufacturers are also diversifying their operations into the electric mobility industry; Germany is set to lead the pack, with electric vehicle manufacturing reaching 1.3 million units by 2021.

Construction Industry Development

According to the consensus estimate, the residential sector was increased by 8% in 2016, while non-residential was grew by 4% and the non-building sector was minimized by 2%. In addition, the renewable energy sector is expected to grow rapidly during the forecast period. Renewable energy was accounted for over 20% of the country's energy mix by 2021, according to several government efforts. Due to climate change concerns, the state and federal governments in the United States are taking proactive steps to integrate renewable energy sources, providing lucrative opportunities for the construction industry. Furthermore, according to the Global Construction Report 2030, India, China, and the United States are three significant countries that are expected to contribute up to 57 percent of global construction industry growth.
Hex Bolt Market Segment Analysis:
Based on the Material, the market is segmented into Stainless Steel Bolts, Carbon Steel Bolts, Alloy Steel Bolts, and Other. Carbon Steel Bolts segment is expected to grow rapidly at a CAGR of xx% during the forecast period 2022-2029. Carbon steel hex bolts are widely utilised due to qualities such as high hardness and toughness combined with low ductility. They have a high wear resistance, making them appropriate for usage in machinery and automobiles.

Based on the Application, the market is segmented into Automotive, Machinery, Construction, MRO, and Other. Automotive industries segment is expected to hold the largest market share of xx% by 2029. The Hex head bolt is without a doubt the most popular type of fastener used in the automotive sector, followed by the hex-headed cap screw and the stud. A stud is a cross between a bolt and a screw. Because of qualities such as high tensile strength, corrosion resistance, and high temperature resistance, hex head bolts are widely utilised in automotive applications. The use of high-quality bolts contributes to the vehicles' proper performance and eliminates the need for maintenance.
Hex Bolt Market Regional Insights:
Asia Pacific region is expected to dominate the Hex Bolt Market during the forecast period 2022-2029. Asia Pacific region is expected to hold the largest market share of xx% by 2029. The growing automobile industry in Asia Pacific developing and developed economies, such as India and China, has boosted the global hex bolt market's growth. To defend its automotive industry against international automakers, the Chinese government enacted policies and restrictions. In 2005, the Chinese government issued China Automotive Industry Policy (the Policy) to encourage carmakers to consolidate in order to improve their ability to compete with foreign competitors. The use of advanced devices and vehicles has increased as a result of rapid population growth and industrialization, contributing to the growth of the Hex Bolt Market.

North America region is expected to grow rapidly at a CAGR of xx% during the forecast period 2022-2029. This is due to the growing demand for hex bolt in the automotive industry, Machinery, Construction, MRO, and other industries in the North America region. Also, the presence of top key players of hex bolt in the region is expected to boost the growth of the region in the market during the forecast period.

The objective of the report is to present a comprehensive analysis of the Global Hex Bolt Marketto the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help in understanding the Global Hex Bolt Market dynamic, structure by analyzing the market segments and project the Global Hex Bolt Marketsize. Clear representation of competitive analysis of key players by Type, price, financial position, product portfolio, growth strategies, and regional presence in the Global Hex Bolt Market make the report investor’s guide.
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Hex Bolt Market


Report Coverage
Details


Base Year:
2021
Forecast Period:
2022-2029


Historical Data:
2017 to 2021
Market Size in 2021:
US $ 17.03 Bn.


Forecast Period 2022 to 2029 CAGR:
2.9%
Market Size in 2029:
US $ 21.40 Bn.


 Segments Covered:
by Type
• Hex Head Bolt
• Flanged Hex Head Bolt
• Vibration-resistant Hex Head Bolt
• Sealing Hex Head Bolt
• Others


by Material
• Stainless Steel Bolts
• Carbon Steel Bolts
• Alloy Steel Bolts
• Other


by Application
• Automotive
• Machinery
• Construction
• MRO
• Other



Hex Bolt Market, by Region
• North America (United States, Canada and Mexico)
• Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
• Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
• Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
• South America (Brazil, Argentina Rest of South America)
Hex Bolt Market Key Players
• Acument Global Technologies
• MW Industries
• Dokka Fasteners
• Big Bolt Nut
• LISI Group
• Canco Fastener
• Oglaend System
• Infasco
• IGC Fastners
• Nucor Fastener
• Vikrant Fasteners
• Penn Engineering
• XINXING FASTENERS
• TR Fastenings
• Portland Bolt
• Shanghai Tianbao Fastener Manufacturing

Frequently Asked Questions:

1. Which region has the largest share in Global Hex Bolt Market?
Ans: Asia Pacific region held the highest share in 2021.

2. What is the growth rate of Global Hex Bolt Market?
Ans: The Global Hex Bolt Market is growing at a CAGR of 2.9% during forecasting period 2022-2029.

3. What is scope of the Global Hex Bolt Market report?
Ans: Global Hex Bolt Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.

4. Who are the key players in Global Hex Bolt Market?
Ans: The important key players in the Global Hex Bolt Market are – Acument Global Technologies, MW Industries, Dokka Fasteners, Big Bolt Nut, LISI Group, Canco Fastener, Oglaend System, Infasco, IGC Fastners, Nucor Fastener, Vikrant Fasteners, Penn Engineering, XINXING FASTENERS, TR Fastenings, Portland Bolt, and Shanghai Tianbao Fastener Manufacturing

5. What is the study period of this Market?
Ans: The Global Hex Bolt Market is studied from 2021 to 2029.