The global riveting tools market size was valued at USD 206.8 million in 2018 and expected to register a CAGR of 4.5% from 2019 to 2025. Growing infrastructure development and enhancements in the construction industry are anticipated to drive the demand for riveting tools, particularly for steel structure installations, over the forecast period.
Advanced riveting tools are used in transportation applications for the installation of the outer body and flooring of the vehicles. Moreover, riveting tools are widely used to install rivets during the manufacture and assembly of machinery.
The U.S. market was valued at USD 47.8 million in 2018 and is anticipated to register a CAGR of 3.9% over the forecast period. The growing manufacturing industry in the country, coupled with the flourishing automotive and aerospace manufacturing industries, is anticipated to drive the demand for riveting tools over the forecast period.
Rivet technology is mainly used for joining two components in fabrication applications. The technology uses various processes such as radial, orbital, and pressed riveting for several applications of the manufacturing industry. Less input force, reduced cycle time, and high-quality joints are the factors driving the demand for radial riveting in assembly operations.
The growing popularity of battery-powered riveting tools has negatively impacted the demand for pneumatic riveting tools. Battery-powered riveting tools are highly efficient and are easy to handle as compared to pneumatic components. However, the switching rate from pneumatic to battery-powered riveting tools is low in the aerospace industry as prominent players have pre-installed pneumatic tools infrastructure in their facilities.
The riveting tools market is characterized by the presence of numerous multinational manufacturers that offer riveting tools with enhanced technologies. Prominent players in the market have patented technologies for the mechanism and design of the tools that provide ease of handling and lesser operational time. Moreover, the need for an advanced technical base for production results in high initial investments, and thus poses an entry barrier for new players.
The pneumatic riveting tools segment accounted for a share of 10.6% in terms of volume in 2018 and is anticipated to register a CAGR of 5.6% over the forecast period. The use of compressed air for faster operations and features such as low maintenance are the factors driving the demand for pneumatic products.
Superior precision control and adjustment for pressure variations have increased the popularity of hydro-pneumatic riveting tools in the transportation and aerospace industries. Moreover, increasing automotive production across the globe is anticipated to support the growth of the market as riveting tools are used for assembly operations in automotive manufacturing.
The market for battery-powered riveting tools is anticipated to grow over the forecast period owing to their superior characteristics such as easy handling, wireless operations, reduced operational cycle, and lower cost. Growing demand for automated products is projected to support the demand for battery-powered products over the forecast period.
Handheld lever riveting tools are widely used in the building and construction industry for both, commercial and residential buildings. Furthermore, growing need for roof flashing, and increasing sheet metal construction and repair and maintenance operations are expected to drive the demand for handheld riveting tools over the forecast period.
Automotive applications for riveting tools are anticipated to register a revenue-based CAGR of 4.8% over the forecast period owing to the increasing production of passenger cars and commercial vehicles, particularly in economies such as China and India. Moreover, the recovery of the automotive manufacturing industry in Russia and Brazil are likely to provide growth opportunities in the projected period.
A large number of rivets are used in aircraft components including outer body, cabin interiors, seat assemblies, and interior mechanisms. The demand for riveting tools for aircraft manufacturing is anticipated to grow on account of increasing air traffic and need for related maintenance and repair operations of aircrafts.
The building and construction segment is expected to grow owing to the increased use of rivets for thebonding of window and door panels.Suitable design, ease of handling, and easy-to-install properties of rivets make them suitable for the installation of interior components in commercial buildings, thereby driving the growth of the riveting tools market.
Riveting tools have high-stress resistance and are hence increasingly used in transportation vehicles. Growing utilization of advanced rivets for assembling trailer roofs and attaching sheet elements and transversal profiles to the structures are projected to drive the demand for riveting tools in the transportation industry.
In 2018, Asia Pacific dominated the market on account of the increasing demand for the product for Maintenance, Repair, and Operations (MRO) and assembly operations. The growing manufacturing sector in the region, particularly in China and India, are likely to drive the demand for riveting tools over the forecast period. Automotive manufacturing and building and construction industries across the region are likely to be the prominent end users.
The well-established manufacturing sector in U.S., coupled with increasing government investments to support manufacturing practices, is likely to augment the market growth. Moreover, growing automotive manufacturing industry in Mexico and increasing investments from multinational manufacturers including General Motors and Toyota to enhance production capabilities are expected to support the product demand in North America.
Technological advancements for the development of eco-efficient and lightweight vehicles is likely to drive automotive production, thereby driving the product demand in Europe. In addition, the presence of multinational players engaged in aerospace parts manufacturing is anticipated to have a positive impact on industry growth.
Growing demand for advanced and lightweight fastening in automobiles is projected to drive the demand for rivets, subsequently driving the demand for riveting tools. The flourishing automotive and aerospace industries in Central and South Africa is projected to support the market growth.
A large number of medium- and small-scale manufacturers are present across the globe and provide a range of products for various applications. High product consumption in manufacturing operations, coupled with low cost of production, has created a scope for the industry players to increase production capacities. Major players in North America and Europe focus on mergers and acquisitions, leading to a consolidated market.
Prominent players are gaining a competitive edge by offering products through various sales channels. Online platforms, third-party distributors, and retailers are engaged by the manufacturers to supply their products to application industries. Moreover, players are investing in R&D to register patents for the design and mechanism for riveting tools.
Base year for estimation
Actual estimates/Historical data
2014 - 2017
2019 - 2025
Volume in Thousand Units, Revenue in USD Million and CAGR from 2019 to 2025
North America, Europe, Asia Pacific, Central & South America, Middle East & Africa
U.S., Canada, Mexico, Germany, U.K., France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, United Arab Emirates (UAE), Saudi Arabia
Volume forecast, Revenue forecast, competitive landscape, growth factors and trends
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This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global riveting tools market report on the basis of product, application, and region:
Product Outlook (Volume, Thousand Units; Revenue, USD Million, 2014 - 2025)
Hand Held Lever
Application Outlook (Volume, Thousand Units; Revenue, USD Million, 2014 - 2025)
Automotive & Aerospace
Building & Construction
Woodworking & Decorative
Regional Outlook (Volume, Thousand Units; Revenue, USD Million, 2014 - 2025)
Central & South America
Middle East & Africa
United Arab Emirates
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The automotive & transportation industry is amongst the most exposed verticals to the ongoing COVID-19 outbreak and is currently amidst unprecedented uncertainty. COVID-19 is expected to have a significant impact on the supply chain and product demand in the automotive sector. The industry's concern has moved on from being centered on supply chain disruption from China to the overall slump in demand for automotive products. The demand for commercial vehicles is expected to plummet with the shutdown of all non-essential services. Furthermore, changes in consumer buying behavior owing to uncertainty surrounding the pandemic may have serious implications on the near future growth of the industry. Meanwhile, liquidity shortfall and cash crunch have already impacted the sales of fleet operators, which is further expected to widen over the next few months. We are continuously monitoring the COVID-19 pandemic, and assessing its impact on the growth of the automotive & transportation industry. The report will account for Covid19 as a key market contributor.