Riveting Tools Market: Introduction
Riveting is one of the most prominently utilized technology in fabrication processes, which guarantees joining of two components. Radial, orbital and pressed riveting technologies are the most widely used mechanism across the metal processing industry.
Radial riveting is the most widely used technology, as it facilitates high quality joints with less input force and reduced cycle time. Riveting tools are basically a type of fasteners, which has a smooth cylindrical shaft that connects the head and tail of the tool.
Riveting Tools Market: Dynamics
The main driving factor for the global riveting tools market is a continuously growing metal processing sector, which has resulted in the growing demand for riveting tools across all major economies. The macroeconomic factors, such as growing industrial activities coupled with up gradation in manufacturing & assembling processes in numerous end-use industries across many countries is further augmenting the demand for riveting tools.
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The significant upsurge in sales of riveting tools owing to the growing concerns regarding efficient & effective operations in metal processing operations is highly estimated to boost the global riveting tools market. Additionally, considerable growth in the East and South Asia industrial sector and technological up gradation in manufacturing of riveting tools is expected to create a momentous opportunity for the global riveting tools market.
Moreover, the superior performance characteristics of riveting tools such as high operational efficiency, robust structure and precise operational accuracy is highly anticipated to propel the demand for riveting tools. As riveting tools are used to high-end joining, riveting tools is gaining huge recognition in automobile and aviation sector across all regions. All the above mentioned major influencing features are highly foreseen to drive the global riveting tools market over the forecast period.
The key restraining factor such as high cost, need for skilled labor and long time consuming production process of riveting tools may hinder the global riveting tools market growth over the forecast period.
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Riveting Tools Market: Segmentation
The global riveting tools market is segmented on the basis of product type, application and region.
Based on the product type, the global riveting tools market is segmented as:
- Pneumatic Rivet Tools
- Hydro-pneumatic Rivet Tools
- Battery Powered Rivet Tools
- Lazy Tong Rivet Tools
- Hand Held Lever Rivet Tools
Based on the application, the global riveting tools market is segmented as:
- Aerospace & Defence
- Building & Construction
- Woodworking & Decorative
Pneumatic riveting tool is anticipated to showcase noteworthy growth rate during the forecast period due to its higher operational efficiency. On the other hand, among application segment, automotive segment is anticipated to see higher market growth over the forecast period.
Riveting Tools Market: Regional Outlook
Based on geographies, the global riveting tools market is segmented into seven regions: North America, Europe, MEA, East Asia (Japan, China, South Korea), South Asia (India, Thailand, Malaysia, Indonesia, Philippines, Rest), Oceania (Australia, New Zealand) and Latin America. Among the above-mentioned countries, East Asia is estimated to account for a significant market share due to a rise in the industrial activities in countries, such as China, Japan and South Korea. South Asia is anticipated to witness a high growth in the global riveting tools market owing to the rise in automotive sector in the region.
Moreover, Middle East & Africa is projected to showcase most enthusiastic growth in the global riveting tools market due to the rise in the construction activities along with an industrial revolution across the region. Europe is one of the key developed regions that will generate commendable opportunity in the global riveting tools market over the forecast period due to the existence of significant processing industries.
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Riveting Tools Market: Prominent players
Prominent players for the global riveting tools market are Stanley Engineered Fastening Rivtec Ltd., Cherry Aerospace, Gesipa Blindniettechnik GmbH, Arconic Fastening Systems, Sioux Tools, Advanced Air Tools Company, Inc., Ace Rivet and Fastener Inc, Honsel Umformtechnik, Lobtex Co. Ltd, FAR Tools, KARAT Industrial Corporation, E Ding Co. Ltd, Soartec Industrial Corporation, Toptul Taiwan, Shanghai Fast-Fix Rvet Corp and Ningbo Maowang Rivet Mfg. Co, Ltd. among other key market players. The riveting tools market consists of well-diversified global and regional players with the regional vendors ruling their respective regional market.
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