The global riveting tools market accounted for $210.76 million in 2018 and is expected to reach $371.48 million by 2027 growing at a CAGR of 6.5% during the forecast period. The high use of riveting tools in the construction industry and growth in the demand from the automotive industry are fueling the market growth, according to ResearchAndMarkets.com.
However, the increasing use of adhesives and tapes is somewhat hampering the market growth.
Riveting tools are a kind of fasteners, which has a smooth cylindrical shaft that interfaces head and tail. Riveting fasteners are used to help tension loads, and are even more effective in supporting shear load placed perpendicularly to their axes. It is most cost effective and superior procedure of fastening.
Based on the application, the automotive segment is going to have a lucrative growth during the forecast period due to high production of passenger cars and commercial vehicles. By geography, North America is going to have a lucrative increase during the forecast period due to the expansion of the aerospace industry and a high demand for truck and utility vehicles in the automotive industry.
The report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2017, 2018, 2019, 2023 and 2027
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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