Smart Bolts Market Trends

Growth Drivers

Growing Need For Replacement of Old Fasteners

Engineers have been utilizing fasteners in engineering structures since a longer period owing to numerous benefits associated with these fasteners. It is through the help of these fasteners only that engineers could assemble and de-assemble complex designs & structures and deploy across areas where large structures would not had been possible to carry. Hence it has been proved over the years how reliable the fasteners and the strength it provides to a structure. But over the years, upon repetitive wear and tear, there is a need for the replacement of the old fasteners for the protection of the engineered structures. The rising need for the replacement of old fasteners amongst engineers is thereby anticipated to drive the growth of the global smart bolts market.

Increasing Concern for Applying Over-Torque on Fasteners

Fasteners are used to join two non-threaded structures. They are also known to carry large amount of loads due to its structure. As a result, it is very important to understand how much amount of torque needs to be applied while tightening a fastener. Lack of expertise in handling fasteners might lead to the breakage or stripping of the thread and thereby damaging the fastener. With the advent in bolt technology and the development of the concept of smart bolts, engineers can now understand the amount of torque needed to tighten a fastener, thereby lowering the chances of damaging a fastener. The rising concern for applying over-torque on fasteners and the need to prevent such issues is thereby anticipated to drive the growth of the global smart bolts market.

Challenges

Lack of Awareness and High Price of Smart Bolts

Many engineers around the globe are yet unaware about the benefits associated with the application of smart bolts. Few more lack knowledge on the application of these type of bolts. Additionally, high end-product cost might restrict the sales of smart bolts. Such factors are anticipated to act as a barrier to the growth of the global smart bolts market.