The global rivet gun market is estimated to reach US$ 799.9 Mn by the end of the forecast period, registering a CAGR of 6.1% in terms of value. The rising demand for pneumatic rivet guns and the increasing online sales of rivet guns are some of the key factors expected to boost the demand for rivet guns in the global market.
Urbanization has been growing want for added infrastructure development, consisting of transportation, power, and related protection offerings; all of which require rivet processing equipment. In keeping with the UN, the sector populace is expected to increase by 20% between 2015 and 2025, with Asia and Africa projected to make contributions significantly to this growth, which is expected to similarly cause urbanization and the subsequent want for hand and energy tools.
As per IMF data, the global economy grew by 3.8% (real GDP) in 2017. Economic growth improves the standard of living, alongside the spending power of people. The automotive industry across the globe has been enjoying a period of relatively strong and substantial growth and profits, which consequently has been surging the demand for rivet processing tools (rivet guns).
Funding inside the housing area is a first-rate component fueling the call for rivet guns and rivet processing equipment as rivets are widely utilized in residential construction for the attachment of doors thru hinges, as well as roofing and ceiling. An increase in aerospace, automobile, and marine fasteners is also expected to pressure calls for rivet guns inside the global marketplace.
The sales of rivet guns in India have been growing with speedy infrastructural improvement and urbanization, and sturdy investment in the construction housing area. Income in Japan grew with the gradual recuperation of investments in the housing sector and the call for healing following the remarkable East Japan Earthquake.
Rivet processing equipment (rivet weapons) are widely used to manufacture and gather the components of a vehicle the use of rivets. Improving financial conditions and rapid urbanization have caused a growth in the income of automobiles in rising markets. Therefore, the increasing demand and next manufacturing of automotive have led to a growth in the demand for gear used to assemble car elements.
Rivet Gun Market: Segmentation
Based on product type, the global Rivet Gun market has been segmented into:
- Pneumatic Rivet Guns
- Manual or Hand Operated Rivet Guns
- Battery Operated Rivet guns
Based on capacity, the global Rivet Gun market has been segmented into:
- Light duty Rivet Guns (less than 3mm)
- Medium duty Rivet Guns (3-5 mm)
- Heavy Duty Rivet Guns (> than 5mm)
Based on operation type, the global Rivet Gun market has been segmented into:
- Pop Riveting
- Slow Hitting
- Fast Hitting
Based on distribution channel, the global Rivet Gun market has been segmented into:
- Online Sales
- Offline Sales (Retailers, Distributors)
Based on end-users, the global Rivet Gun market has been segmented into:
- Automotive & Transportation
- General Manufacturing
- Building & Construction
Based on region, the global Rivet Gun market has been segmented into:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Southeast Asia & Pacific
- Middle East & Africa