Riveting Tools Market was valued at US$ 210.0Mn in 2019 and is expected to reach US$ 315.0Mn by 2026 at a CAGR of 5.2% during a forecast period.
The report includes an analysis of the impact of COVID-19 lockdown on the revenue of market leaders, followers, and disruptors. Since the lockdown was implemented differently in various regions and countries; the impact of the same is also seen differently by regions and segments. The report has covered the current short-term and long-term impact on the market, and it would help the decision-makers to prepare the outline and strategies for companies by region.
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Riveting tools are widely used in fabrication processes, which ensure the joining of two components. Orbital, radial, and pressed riveting technologies are some of the popularly used mechanisms in the engineering industry.
Increasing demand for high-end joining technologies in the automotive industry, coupled with the rising growth of the automotive market is also expected to drive the growth of the global riveting tools market over the expected time period. In addition, cost-effective and superior fastening properties are also expected to drive demand for riveting tools, leading to a growth of the global market during the forecast period. Competition from welding technology is the challenge of the riveting tools market. The major trend in the market is a wireless battery charging technology for the power tools market.
The pneumatic riveting tools segment is dominating the riveting tools market globally. A pneumatic riveting tool is a type of power tool, driven by compressed air, supplied by an air compressor. Pneumatic riveting tools can also be driven by compressed carbon dioxide stored in small cylinders allowing for portability. Most pneumatic riveting tools convert the compressed air to work using a pneumatic motor.
The Automotive & Aerospace segment is leading the global riveting tools market. Demand from the automotive industry, mainly in the manufacturing of passenger cars is predicted to grow in the wake of growth in production primarily in China and India. The aerospace industry accounts for a high usage of rivets which in turn leads to a better demand. High usage of rivets in aircraft components, for instance, cabin interiors, aircraft body, and others are expected to emerge as the major factors driving the growth.
Region-wise, the Asia Pacific has led the market share in terms of consumption, due to increasing demand for assembly and MRO operations in aerospace applications in developing economies. Sustained growth in the construction sector owing to an increase in infrastructure development activities is projected to further boost growth.
Global riveting tools market report includes PESTLE analysis, competitive landscape, and Porter’s five force model. Market attractive analysis wherein all the segments are benchmarked based on the market size, growth rate, and general attractiveness.
Some of the key players operating in the global riveting tools market, Stanley Engineered Fastening, Rivtec Ltd., Cherry Aerospace, Gesipa Blindniettechnik GmbH, Arconic Fastening Systems, Sioux Toolss.
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Global Riveting Tools Market, by Product
• Battery Powered
Global Riveting Tools Market, by Application
• Automotive & Aerospace
• Building & Construction
Global Riveting Tools Market, by Region
• North America
• Middle East and Africa
• South America
Key Players Operating in the Global Riveting Tools Market
• Stanley Engineered Fastening Rivtec Ltd.
• Cherry Aerospace
• Gesipa Blindniettechnik GmbH
• Arconic Fastening Systems
• Sioux Toolss
• Advanced Air Tools Company, Inc.
• Ace Rivet and Fastener Inc
• Honsel Umformtechnik
• Lobtex Co. Ltd
• FAR Toolss
• KARAT Industrial Corporation
• E Ding Co. Ltd
• Soartec Industrial Corporation
• Toptul Taiwan
• Shanghai Fast-Fix Rvet Corp
• Ningbo Maowang Rivet Mfg. Co, Ltd.
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