The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

Rapidly growing urban populations are expected to drive innovation in machine shops, turned product manufacturing, and screw, nut, and bolt manufacturing, propelling the market during the forecast period.

The global machine shops, turned product, and screw, nut, and bolt market is expected to grow from $446.14 billion in 2022 to $486.97 billion in 2023 at a compound annual growth rate (CAGR) of 9.2%. The machine shops, turned product, and screw, nut, and bolt market is expected to grow to $669.02 billion in 2027 at a CAGR of 8.3%.

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Global Machine Shops, Turned Product, And Screw, Nut, And Bolt Market Segments Include:

• By Type: Turned Product and Screw, Nut, and Bolt, Machine Shops
• By Grade: GR 5.8, GR 8.8, GR 10.9, GR 12.9, Other Grades
• By Application: Construction, Petrochemical, Heavy Machine Equipment, Automotive, Aerospace, Home Appliances, Motors and Pumps, Furniture, Plumbing Products, Other Applications
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Western Europe is the largest region in the global machine shops, turned product, and screw, nut, and bolt market in 2021.

Major Market Players in the machine shops, turned product, and screw, nut, and bolt market include Berkshire Hathaway Inc., Illinois Tool Works Inc., Stanley Black & Decker Inc., Lisi S.A, The SFS Group AG, MISUMI Group Inc., Bulten AB, and Arconic Inc.

Many machine shops, turned product manufacturers, and screw, nut, and bolt manufacturers are utilising robotics and automation to boost plant efficiency and productivity. Sensors are used in a variety of machines to collect valuable data that can be used to improve efficiencies and reduce potential breakdowns. According to a Boston Consulting Group (BCG) report, 1.2 million industrial robots will be deployed by 2025, indicating an increase in automation and robotics technology adoption to improve productivity and reduce production costs. According to the KPMG report, 16% of global metals executives have already invested in robotics for metal manufacturing, 31% have plans to potentially invest in robotics for new technology and opportunities, and 42% are willing to invest in robotics in the near future. Furthermore, 63% of metal manufacturing executives are considering investing in automation, according to the report. FANUC, KUKA, ABB, and Motoman are examples of companies that provide industrial robots to metals companies.

The Machine Shops, Turned Product, And Screw, Nut, And Bolt Global Market Report 2023  provides a machine shops, turned product, and screw, nut, and bolt market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The machine shops, turned product, and screw, nut, and bolt market forecast analyzes machine shops, turned product, and screw, nut, and bolt market size, machine shops, turned product, and screw, nut, and bolt market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Machine shops, turned product, screw, nut, and bolt are all terms used to describe a type of machine precision turned and metal fabricated products that are designed for machinery and equipment on a customised basis for the assembling of machine parts such as engines, gears, and other parts.

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