Product ID: UCMIG20I2239
Report ID:
UCMIG20I2239 |
Region:
Global |
Published Date: Upcoming |
Pages:
165
| Tables: 55 | Figures: 60
The estimated market size for fasteners in the global mining and oil & gas industries reached USD 1.28 billion in 2022, with a projected compound annual growth rate (CAGR) of 4.9% from 2023 to 2030. This growth in the mining and oil & gas fasteners market is expected to be fueled by factors such as expansion in these industries, technological advancements, and the increasing complexity of equipment. Moreover, as the global population continues to rise, it drives the demand for energy. According to the United Nations Department of Economic and Social Affairs, the world's population is anticipated to grow by 1.7 billion by 2045, resulting in a total global population of 9.5 billion by 2045, up from 7.8 billion in 2020, which is expected to further increase the global energy demand.
This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.
Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.
The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Industrial Machinery by segment aggregation, the contribution of the Industrial Machinery in Capital Goods and vendor share.
To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.
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Product ID: UCMIG20I2239