Riveting Tools Market Size Worth $281.2 Million By 2025 | CAGR: 4.5%

The global riveting tools market size is expected to reach USD 281.2 million by 2025, according to a new report by Grand View Research, Inc., registering a CAGR of 4.5% over the forecast period. Increasing adoption of automated processes across major manufacturing industries is anticipated to drive the growth of the market over the forecast period.

Raw materials such as aluminum and steel are widely used on account of characteristics such versatility and cost-effectiveness. Strong consumption of these materials in the manufacturing industry is further likely to provide growth opportunities for the market. In addition, current tax reforms are projected to boost the steel industry growth in U.S., which, in turn, is expected to benefit the market.

Pneumatic tools are lightweight and have high efficiency. However, the complex propulsion structure of these tools contributes to their higher costs. Battery-operated riveting tools are efficient and easy to handle. Moreover, they have a similar or lower pricing structure when compared to hydro-pneumatic and pneumatic riveting guns and are hence gaining popularity. However, battery-operated riveting tools are anticipated to have a lower penetration as a substitute for handheld rivet guns and tongs as they have an even lower price bracket. 

 To request a sample copy or view summary of this report, click the link below:
https://www.grandviewresearch.com/industry-analysis/riveting-tools-market

Further key findings from the study suggest:

• Battery powered riveting products are projected to register a CAGR of 6.4% from 2019 to 2025 in terms of revenue, driven by faster operation cycles, wireless operations, and superior efficiency, further leading to upscale product adoption

• Automotive and aerospace industries across the globe are anticipated to register a CAGR of 4.8% over the forecast period in terms of revenue owing to the rising consumption of riveting tools on account of growing passenger car sales and increasing air traffic

• The North America market accounted for a consumption of 583.8 thousand units in 2018 owing to the rapidly growing building and construction industry in U.S. and presence of a notable aerospace industry in the region

• The market in U.S. is expected to register a CAGR of 3.9% over the forecast period in terms of revenue on account of the rising use of the product in automotive and aerospace parts manufacturing and Manufacturing, Repair, and Operations (MRO) industries

• Prominent players in the riveting tools market are engaged in the expansion of their product offerings by investing heavily in R&D activities and are focusing on the introduction of low-cost materials with superior operational characteristics

Grand View Research has segmented the global 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 Outlook (Volume, Thousand Units; Revenue, USD Million, 2014 - 2025)

• Automotive & Aerospace

• Building & Construction

• Transportation

• Woodworking & Decorative

• Others

Riveting Tools Regional Outlook (Volume, Thousand Units; Revenue, USD Million, 2014 - 2025)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • U.K.

  • France

  • Italy

  • Spain

• Asia Pacific

  • China

  • India

  • Japan

  • South Korea

• Central & South America

  • Brazil

  • Argentina

• Middle East & Africa

  • United Arab Emirates

  • Saudi Arabia