The Riveting Tools Market, valued at USD 237.2 Million in 2023, is anticipated to surpass USD 416.9 Million by 2032, reflecting a projected CAGR of 6.5%

Expanding demand from steel structure establishments in development industry and framework advancement is relied upon to rise as one of the essential elements driving the market. Utilization of the progressed riveting devices in deck and external body holding for basic applications in transportation is required to additionally drive the market over the conjecture time frame. Moreover, the market is required to profit by the developing use of the item to introduce bolts in gathering and make of industrial machinery.

Riveting is a standout amongst the most noticeably utilized advancements in manufacture forms, which guarantees joining of two segments. Orbital, spiral, and squeezed riveting advancements are a portion of the prevalently utilized instruments in the business. Outspread riveting is one of the unmistakably utilized innovations, as it gives fantastic joints less information drive and decreased process duration. The market is described by the nearness of an extensive number of worldwide producers. Top players hold plan and innovation licenses, in this way representing a hindrance to the new participants. Moreover, prerequisite of a broad specialized base for the organizations working in the market, results in high introductory capital cost, which brings down the risk of new participants.

The pneumatic bolt devices are required to observe a decrease in value, inferable from the development of battery-controlled riveting instruments. Higher effectiveness of the item is relied upon to upgrade the substitution rate for the item. Be that as it may, the substitution rate is required to be low for airplane business as the significant organizations have pre-introduced framework for utilization of pneumatic devices. Since, steel is the essential raw materials for assembling these apparatuses, the burden of 25% enemy of dumping obligations on the imports of steel from China, is foreseen to build the steel costs in U.S. This, thusly, is foreseen to negatively affect fabricating in the nation.

Riveting Tools Market Statistics

• In 2023, the global riveting tools market was estimated to be worth USD 237.2 million
• The market is predicted to develop at a 6.5% CAGR from 2024 to 2032
• Asia-Pacific holds 42% of the riveting tools market share
• North America is the fastest-growing region, with an 7.3% growth rate, providing significant opportunities for industry participants
• The pneumatic product segment is a notable market contributor
• The building & construction application contributes significantly to revenue growth
• The riveting tools market trend is growing due to expanding applications in emerging industries like renewable energy

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Riveting Tools Market Dynamics

Booming Automotive Industry Fuels the Riveting Tools Market

The automotive industry functions as a large engine, increasing demand for riveting tools. Cars, trucks, and motorbikes are made up of several metal parts that must be linked together securely and swiftly. Riveting tools are ideal for this work because they provide a permanent link between metal parts without the need for welding or screws.

As more and more people buy cars, the demand for new vehicles goes up. This means car manufacturers need to produce more cars faster. Riveting tools help them do this by speeding up the assembly process. Also, modern cars are becoming lighter and more fuel-efficient, which means using more lightweight materials. These materials often require special riveting techniques, leading to a higher demand for specialized riveting tools. So, as the automotive industry continues to grow and change, the need for riveting tools will keep increasing as well.

Focus on Electric Vehicles Other Surface Treatment Processes Offers Significant Riveting Tools Market Opportunities

Electric vehicles (EVs) are becoming increasingly popular due to their environmental benefits and improved performance. This represents a significant opportunity for the riveting tools market.

EVs have different parts and materials than typical cars, thus there are new challenges and requirements for putting them together. Riveting tools can be extremely useful for creating electric vehicles. For example, they can be used to connect battery packs, which are made up of numerous tiny cells. Furthermore, as electric vehicles get lighter in order to enhance their range, new riveting techniques and tools may be required to cope with these new materials.

By developing specialized riveting tools for the EV market, companies can tap into a growing and profitable segment. It's like finding a new road to success in the automotive industry.

Riveting Tools Market Segmentation

The global riveting tools market is splits into 3 categories: product, application, end user, and regional markets

• Product: pneumatic, hydro-pneumatic, battery powered, lazy tong, and hand held lever
• Application: automotive & aerospace, building & construction, transportation, woodworking & decorative, and others
• Regional industry: Latin America, Europe, North America, Asia-Pacific, and the Middle East & Africa

Riveting Tools Market Regional Outlook

The Asia-Pacific region is seeing substantial expansion in the riveting tools market, owing to growing industrialization and infrastructure development. China and India are leading the way, with growing automotive, aerospace, and construction industries driving demand. The region's developing manufacturing capabilities and increased investments in infrastructure projects lead to a growing need for riveting tools. Furthermore, the rise of emerging economies and a renewed emphasis on technology advancements aid market progress.

Riveting Tools Market Players

Riveting tools companies profiled in the report include Rivtec Limited, GESIPA Blindniettechnik GmbH, MPK Special Tools GmbH, Stanley Black & Decker, Inc., KARAT INDUSTRIAL CORPORATION, Honsel, Sioux Tools, Inc., Cherry Aerospace, Arconic, and AVK Industrial Products.

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