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Global blind bolts market to garner $5.77 billion by 2030: Allied Market Research

Surge in demand from the automotive industry and rise in government investments in large-scale infrastructure projects drive the global blind bolts market growth. Asia-Pacific contributed to the largest share in terms of revenue in 2020, and is projected to maintain its leadership status by 2030. Manufacturing activities of blind bolts stopped due to lockdown restrictions imposed across many countries during the Covid-19 pandemic.

/EIN News/ -- Portland, OR, July 21, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global blind bolts market generated $3.58 billion in 2020, and is expected to garner $5.77 billion by 2030, witnessing a CAGR of 4.8% from 2021 to 2030. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.

Surge in demand from the automotive industry, growth of the heavy engineering and construction industries, and rise in government investments in large-scale infrastructure projects drive the global blind bolts market growth. However, variations in currency exchange rates and lowered steel and metal prices hinder the market growth. On the other hand, geographical expansion and increase in production of various aircraft, such as commercial aircraft, military aircraft, and helicopters present new opportunities in the coming years.

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Covid-19 Scenario:

  • Manufacturing activities of blind bolts stopped due to lockdown restrictions imposed across many countries. Moreover, disruptions in the supply chain and shortage of raw materials posed new challenges in conducting manufacturing activities in full capacity.
  • The demand from application industries such as construction, aerospace, and marine lowered down considerably due to halt in day-to-day operations during the lockdown. However, the demand is expected to grow steadily as daily operations begin with optimum capacity during post-lockdown.
  • The ban on import-export activities caused disruptions in the supply chain and created the supply-demand gap. As the restrictions are lifted off, the supply chain is estimated to be restored, and the gap in supply and demand will be fulfilled.

The report offers detailed segmentation of the global blind bolts market based on product type, diameter, grade, application, and region.

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Based on product type, the heavy duty segment accounted for the highest share in 2020, contributing to nearly three-fourths of the total share, and is projected to continue its dominance in terms of revenue during the forecast period. However, the thin wall segment is estimated to portray the fastest CAGR of 5.4% from 2021 to 2030.

Based on application, the automotive segment held the largest share in 2020, accounting for nearly one-third of the global blind bolts market, and is estimated to continue its lead position during the forecast period. However, the construction segment is expected to register the largest CAGR of 5.7% from 2021 to 2030.

Based on region, Asia-Pacific contributed to the largest share in terms of revenue in 2020, holding nearly two-fifths of the total market share, and is projected to maintain its leadership status by 2030. Moreover, this region is expected to witness the highest CAGR of 5.5% during the forecast period. The research also analyzes regions including North America, Europe, and LAMEA.

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Leading Players:

Leading players of the global blind bolts market analyzed in the research include 3V Fasteners Company Inc., Henry Venables Product Ltd., ELITE Fasteners, Inc., Arconic Corporation, Kwikbolt Limited, Precision Castparts Corp., PCC Fasteners, TriMas Corporation, Stanley Black & Decker Inc., and BMB Fasteners.

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About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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