9-July-2019: The global riveting tools market
size is expected to reach USD 284.8 million by 2025, according to a new report
by Grand View Research, Inc. It is projected to register a CAGR of 4.6% over
the forecast period. Growing demand for automation across the industries is
expected to drive the growth.
The outlook of raw
materials, such as steel and aluminum industry is expected to remain robust due
to strong economic fundamentals such as investment due to high confidence,
strong consumption, rising income and low interest rates. In addition, recent
tax reforms are expected to boost growth of the steel market in U.S., which is
expected to benefit the riveting tools market.
Superior operation
and high efficiency provided by the pneumatic tools and complex propulsion
mechanism adopted by the guns were observed to be the major factors responsible
for the high product price. However, the overall price is expected to decline
in the wake of introduction of the battery operated tools.
Battery operated
products can exhibit higher substitution of the normally used pneumatic and
hydro-pneumatic rivet guns as they are sold within same or lower price range.
However, the products are not expected to gain much headway in the substitution
of tong or hand held rivet guns as the latter are available in a lower price
bracket.
In
depth research report on Riveting Tools Market
Further key findings from the report suggest:
·
Battery powered products are expected to expand at a CAGR of
6.4% by revenue, from 2018 to 2025 driven by superior efficiency, faster
operation cycles, and wireless operation, further leading to a heightened
product adoption
·
Rising usage in automotive and aerospace industry on account
of increasing air traffic and burgeoning passenger car sales is expected to
drive the market at a CAGR of 5.2% in terms of volume from 2018 to 2025
·
North America accounted for the usage of 562.1 thousand
riveting tools on account of the presence of a notable aerospace industry
coupled with regrowth of the building and construction industry
·
Major companies in the riveting tools market focus on
improvement of their product portfolio coupled with high investments in
research and development of low-cost materials that provide superior properties
Grand View Research
has segmented the riveting tools market on the basis of product, application,
and region:
Riveting Tools Product Outlook (Volume, Thousand Units;
Revenue, USD Million, 2014 - 2025)
·
Pneumatic
·
Hydro-pneumatic
·
Battery Powered
·
Lazy Tong
·
Hand Held Lever
Riveting Tools Application Type Outlook (Volume, Thousand
Units; Revenue, USD Million, 2014 - 2025)
·
Automotive & Aerospace
·
Building & Construction
·
Transportation
·
Woodworking & Decorative
·
Others
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About
Grand View Research
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
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