Hex Bolts Market - Introduction
Hex bolts are also known as hexagon screw head bolts or hex cap bolts. They have hexagonal heads and machine threads for use with a nut or in a pre-drilled hole. These bolts are widely used in the machinery and construction industry. Hex bolts are available in different sizes and lengths, and can used as per the applications.
Hex Bolts Market - Competitive Landscape
Acument Global Technologies Inc.
Acument Global Technologies Inc. was founded in 1995 at Sterling Heights, Michigan, the U.S. The company was established as Textron Fastening Systems, Inc. and changed its name to Acument Global Technologies Inc. in November 2006. It provides various products such as externally threaded (critical fasteners, machine screws, screw and washer assembly, thread forming/thread rolling), internally threaded (nuts and inserts), engineered special, and Torx/Torx Plus. The company provides its products to the following industries: automotive, industrial, aerospace, and building & construction. Acument Global Technologies Inc. offers various products and solutions under brands such as Camrail, Delta PT, Duro-PT, Fastite 2000, LE USA, Mag-Form, MaggCert, MagnaSea, Plastite, PlasTORX, Remform, Strux, Taptite, TECHNICLEAN, TORX/ TORX PLUS, and Z-Form.
In 1777, Frédéric JAPY sets up a watch movement factory in Beaucourt, France. The company has 48 industrial locations in 13 worldwide locations with 12,131 employees. The company operates through three business segments: aerospace (fasteners, structure assembly & components, equipment components, engine components, and defense & space), automotive (clipped solutions, threaded fasteners, and safety mechanical components) and medical.
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Gem-Year Industrial Co., Ltd
Gem-Year Industrial Co., Ltd. was founded and headquartered in China in 1995. The company provides fasteners and hardware tools. Under fasteners, the company sells bolts, nuts, screws, fully threaded studs, and washers. Under hardware tools, it sells air tools, auto repair tools, cutting tools, electronic tools, hex keys, hydraulic & lifting, master tool sets, measuring tools, other hand tools, pliers, safety & security, sockets and ratchets, screwdriver bits, striking tools and tools storage
Key players operating in the global hex bolts market include Big Bolt Nut, Canco Fasteners, Dokka Fasteners Inc., MW Industries, Inc., The Heico Companies, LLC, Nucor Fastener, Oglaend System Group, Hilti Corporation, Penn Engineering & Manufacturing Corp, Shanghai Jianxin Hardware Co.,Ltd., TR Fastenings Limited, Vikrant Fasteners, and NingBo XinXing Fasteners Manufacture Co., Ltd.
Hex Bolts Market – Dynamics
Growth in Automotive Industry
The global automotive industry is expected to expand significantly during the forecast period owing to the increase in manufacture of automobiles. Automakers are constantly developing drive-trains and more efficient engines to reduce fuel consumption. They are also employing the emission-control technology to produce cleaner automobiles. Furthermore, various countries across the globe are enacting stricter emission norms on new vehicle model production prompted by global initiatives such as Paris Agreement. Automakers are also expanding their business into the electric mobility sector; Germany is projected to lead the domain with electric car production expected to reach around 1.3 million units by 2021.
Expansion in Construction Industry
According to the Consensus forecast, the residential sector witnessed enormous growth of 8%, while non-residential is expected to grow with 4% and the non-building sector is projected to decrease by 2% in 2016. Furthermore, the renewable energy sector is projected to expand in the near future. The various government is also taking initiatives to make renewable energy almost 20% of the country’s energy mix by 2020. The state and federal government of the U.S. are proactively taking initiatives to implement the renewable energy sources owing to the climate change issues, thereby offering lucrative opportunities to the construction sector. Additionally, according to the Global Construction Report 2030, India, China and the U.S. are three major countries are expected to contribute up to 57% of the global growth of the construction industry.
Rise in Disposable Income
The per capita disposable income exhibits low volatility in developed countries due to the spike in double-income households. Led by an increase in per capita disposable income, the purchasing power of consumers has increased over a period of time.
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Hex Bolts Market – Segmentation
The hex bolts market can be segmented based on:
- Product Type
- Distribution Channel
Hex Bolts Market Segmentation – By Product Type
Based on product type, the hex bolts market can be divided into:
- Hex Head Bolt
- Flanged Hex Head Bolt
- Vibration-resistant Hex Head Bolt
- Sealing Hex Head Bolt
- Others (tension-indicating hex head screws, extra-wide hex head screws, hex head screws with flat washer, etc.)
Hex Bolts Market Segmentation – By Material
Based on material, the hex bolts market can be segregated into:
- Stainless Steel Bolts
- Carbon Steel Bolts
- Alloy Steel Bolts
Hex Bolts Market Segmentation – By Application
Depending on the application, the hex bolts market can be classified into:
- Automotive Industry
- Machinery Industry
- Construction Industry
Hex Bolts Market Segmentation – By Distribution Channel
Based on distribution channel, the hex bolts market can be bifurcated into:
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