According to the Market Statsville Group (MSG), theglobal blind bolts market size is expected to grow from USD 3,797.0 million in 2021 to USD 5,770.2 million by 2030, at a CAGR of 4.8% from 2022 to 2030. Factors such as the rise in construction and defense and commercial aircraft manufacturing could provide lucrative growth opportunities for the blind bolts market. However, selecting the correct blind bolts necessitates matching size and strength, which necessitates experience. During the forecast period, this could stifle the growth of the blind bolts market.
Furthermore, governments are focusing on increasing their defense budgets to acquire the most up-to-date military aircraft to improve their defense force. All of these factors have an impact on the region's overall growth in the blind bolts market. In Europe, a rise in construction activity is expected to drive the blind bolts market during the forecast period.
In addition, the COVID-19 pandemic has shut down the production of blind bolts and other components, owing to prolonged lockdowns in major countries such as the U.S., China, Japan, and Germany. This has declined the growth of the blind bolts market significantly from the past few months, which is expected to continue during 2021.
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Global Blind Bolts Market Definition
A blind bolt is a fastener installed to deliver more strength and long performance. Blind bolts consist of the sleeve, collar, and steel pin, which are installed from one side of the material to be joined, forming a tight seal that clinches the bolt to connect a couple of more materials.
Global Blind Bolts Market Dynamics
Drivers: Growth in the heavy engineering industry
Increasing investments in infrastructure and the industrial market have developed a better base for growth in engineering and machinery. The demand for tools, bolts, and fasteners in major markets is on the rise, which drives the growth of the blind bolts market. Apart from the traditional markets for blind bolts exporters, markets in Eastern and Central European countries also hold huge potential. The engineering and machinery sector in emerging markets attracts enormous attention from foreign investors as they can enjoy various advantages in terms of manufacturing costs, technology, and innovation. In the coming years, growth in the engineering and machinery market is expected to drive the blind bolts market.
Restraints: Fluctuating currency exchange rates
Most of the blind bolts trade is dominated by the Dollar and Euro. The exchange rate for local currencies with dollar or euro affects the overall prices of blind bolts. The market is highly dependent on export, import, and prices of raw materials (steel and iron), where the trade happens mostly in terms of dollars or euro. Asian countries are the center of the blind bolts manufacturing industry. Many countries in the region have recently recorded a weakening of their local currencies, affecting the profit of blind bolt manufacturers.
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Scope of the Global Blind Bolts Market
The study categorizes the blind bolts market based on product type, diameter, grade, and application at the regional and global levels.
By Product Type Outlook (Sales, USD Million, 2017-2030)
- Heavy Duty
- Thin Wall
By Diameter Outlook (Sales, USD Million, 2017-2030)
- M8
- M10
- M12
- M16
- Others
By Grade Outlook (Sales, USD Million, 2017-2030)
- Grade 8.8
- Grade 10.9
- Grade 316
By Application Outlook (Sales, USD Million, 2017-2030)
- Construction
- Railway
- Aerospace
- Marine
- Others
By Region Outlook (Sales, USD Million, 2017-2030)
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Italy
- France
- UK
- Spain
- Poland
- Russia
- The Netherlands
- Norway
- Czech Republic
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Indonesia
- Malaysia
- Thailand
- Singapore
- Australia & New Zealand
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Colombia
- Rest of South America
- The Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Northern Africa
- Rest of MEA
The heavy-duty segment accounts for the largest market share, by product type
Based on product type, the blind bolts market is divided into the heavy-duty and thin wall. The heavy-duty segment dominated the market in 2021. Heavy-duty blind bolts have shorter blind fixing and offer improved performance. It is the ideal fixing solution for heavy-weight steel sections.
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Blind blots are widely used for heavy-duty operations due to depth clearance up to 30mm, maximum clamping range of 47mm, minimum fixing thickness, and high tensile force. The demand for blind blots is driven by growth in developing countries' manufacturing and automotive industry. Furthermore, an increase in demand for blind blots in developing regions, such as Africa/Middle East, parts of Asia Pacific, Latin America, and Eastern Europe, is anticipated to outpace the demand in some developed nations. In recent years, there has been an increase in investment in industrial infrastructure and capital spending for the automotive industry in developing countries, especially in China and India. In addition, China is expanding its industrial sector to fulfill the growing demand from the consumption sector. In India, many companies are expanding their production facility for business expansion.
Asia Pacific accounts for the highest CAGR during the forecast period
The blind bolts market is analyzed across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. Globally, Asia Pacific is the fastest-growing region in the market. The Asia-Pacific market comprises China, India, Japan, Australia, Malaysia, and the rest of Asia-Pacific. China is the leading market accounting for 35.9% of the total Asia-Pacific market.
Moreover, North America is the fastest-growing region after the Asia Pacific with a CAGR of 4.7% during the forecast period. The demand for blind bolts in North America is mostly derived from the production and development in several end-use industries such as construction, automotive, aerospace, and machinery. Automotive and aerospace industries are accelerating the need for blind bolts. In addition, increasing demand from the machinery and construction industries also drives the growth of the blind bolts market. The U.S. ranks first in the automotive and aerospace industry in North America.
Key Market Players in the Global Blind Bolts Market
The global blind bolts market is highly competitive, with key industry players adopting various strategies such as product development, partnerships, acquisitions, agreements, and expansion to strengthen their market positions.
Major players in the global blind bolts market are:
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- 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
- BMB Fasteners.
