Market Research Report
Riveting Tools Market Size, Share & Trends Analysis Report By Product (Pneumatic, Hydro-pneumatic, Battery Powered), By Application (Automotive & Aerospace, Transportation), By Region, And Segment Forecasts, 2019 - 2025
|Published by||Grand View Research, Inc.||Product code||785994|
|Published||Content info||75 Pages
Delivery time: 2-3 business days
|Riveting Tools Market Size, Share & Trends Analysis Report By Product (Pneumatic, Hydro-pneumatic, Battery Powered), By Application (Automotive & Aerospace, Transportation), By Region, And Segment Forecasts, 2019 - 2025|
|Published: December 16, 2019||Content info: 75 Pages||
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.