How the Machine Shops, Turned Product, And Screw, Nut, And Bolt Market is Positioned for Growth: Trends, Market Size, and Future Opportunities (2025-2034)
2025 Market Reports Update: Market Size Forecasts to 2034, Key Trends, Leading Players, and Top Regions – Get Ahead of the Competition Today!
What Factors Are Propelling the Market Growth of theMachine Shops, Turned Product, And Screw, Nut, And Bolt Market from 2025 to 2034?
The rapidly growing urban populations are expected to increase the demand for metal products. As people migrate from rural to urban areas in search of better opportunities, the need for housing and infrastructure intensifies, particularly in Asian nations like China, India, Vietnam, and the Philippines. According to the United Nations, 55% of the global population lived in urban areas in 2022, a figure projected to rise to 68% by 2050, thus driving the demand for metal products.
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#What is the Growth Potential of the Machine Shops, Turned Product, And Screw, Nut, And Bolt Market, and How Will It Perform by 2034?
The machine shops, turned product, and screw, nut, and bolt market size has experienced strong growth in recent years. It is expected to rise from $495.52 billion in 2024 to $527.37 billion in 2025, at a CAGR of 6.4%. This expansion is driven by industrial production, economic cycles, technological progress, infrastructure development, and global trade.
The machine shops, turned products, and screw, nut, and bolt market is expected to see strong growth, reaching $652.34 billion by 2029, with a CAGR of 5.5%. The growth in this sector is driven by the adoption of Industry 4.0 and automation, sustainable manufacturing practices, the rise of electric vehicles and renewable energy, and the need to upgrade aging infrastructure. Major trends include electrification, lightweighting, advanced materials, additive manufacturing, digitalization, and greater collaboration and partnerships.
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How Are Consumer Market Innovations Shaping the Current and Future Landscape of theMachine Shops, Turned Product, And Screw, Nut, And Bolt Market?
In the machine shop, turned products, and screw, nut, and bolt manufacturing sectors, robotics and automation are being adopted to improve plant efficiency and productivity. For instance, in September 2024, the International Federation of Robotics (IFR) reported that the UK saw a 51% increase in industrial robot installations in 2023, with 3,830 units being installed.
Which Key Market Players Are Shaping the Future and Growth of theMachine Shops, Turned Product, And Screw, Nut, And Bolt Market?
Major companies operating 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, Arconic Inc., Precision Castparts Corp., Kennametal Inc., Timken Company, Mueller Industries Inc., Carpenter Technology Corporation, Fastenal Company, Acme Industrial Company, SPS Technologies LLC, Simpson Manufacturing Co. Inc., Barksdale Inc., Nucor Corporation, Arconic Inc., PennEngineering, The Olander Company Inc., MW Industries Inc., Marmon Holdings Inc., TriMas Corporation, MacLean-Fogg Company, Beacon Fasteners and Components, Scovill Fasteners, Alcoa Fastening Systems, Trifast Plc, Earnest Machine Products, Continental-Aero, EFC International, SPS Fasteners, The Hillman Group, Bastian Solutions, SureWerx.
What Are the Core Segments of the Machine Shops, Turned Product, And Screw, Nut, And Bolt Market, and How Do They Contribute to 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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What Regions Are Dominating the Machine Shops, Turned Product, And Screw, Nut, And Bolt Market Growth?
Western Europe was the largest region in the machine shops, turned product, and screw, nut, in 2023. The Asia-Pacific was the second-largest region in the machine shops, turned product, screw, nut, and bolt market. The regions covered in the machine shops, turned product, and screw, nut, market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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