Global Flaring Tool Market – Introduction
- Flaring tools are basically adaptive instruments used for pipe fitting in various industries such as construction and automotive. Besides this, flaring tools are used in applications wherein flexible metal piping is required. Moreover, these tools have the ability to expand ends of pipe sections as per the requirement. Furthermore, a flaring tool is a precision-designed instrument used in the construction of 45° flares in tubing made of soft brass, copper, aluminum, or mild steel.
- Flaring tools are used to carry out jobs such as transmission cooling line replacement and brake line replacement. Flaring tool are engaged to work on water pipes made up of soft copper that are 3/4 inch. Beside it, flaring tool can be used to find the correct steel length line, which can be uniform in shape.
- Flaring tools are handheld devices used to increase the size of pipes made of copper or other flexible metal, without cutting or replacing pieces of pipes. Use of flaring tools reduces the work time and complexities that occur during pipe fitting in homes or old buildings. Furthermore, these tools can be used for plumbing of damaged pipes or pipes with leakage.
- Moreover, flaring tools are used by placing them on pipe ends. Although, flaring tool are forced by hammer so that it can be easy to use between the existing pipes.
- Flaring tools are used to flare pipe tube against a correspondingly shaped fitting so as to form extremely strong joints between the piping. The key advantage of using flaring tools is that they can form a relatively large contact area, which makes them reliable for use in tubing ends.
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Global Flaring Tool Market – Dynamics
Key Drivers of Global Flaring Tool Market
- The global flaring tool market is projected to expand significantly in the near future, due to growth of the global automotive industry in developed and developing countries
- Increase in the demand for replacement of damaged pipes and pipes with leakage in underground pipe lines among oil & gas and petrochemical industries is one of the major factors estimated to drive the global flaring tool market in the next few years
- Rise in the demand for flaring tools in the construction industry, for use in plumbing of pipes to desired length, is likely to propel the demand for global flaring tool market during the forecast period.
North America to Hold a Significant Share of Global Flaring Tool Market
- North America is anticipated to constitute a significant share of the global flaring tool market during the forecast period, due to expansion of the oil & gas industry and growth of industrialization in the region
- The flaring tool market in Europe is expected to expand significantly in the next few years, due to growth of the automotive industry in the region
- The flaring tool market in Asia Pacific is expected to expand significantly during the forecast period, due to growth of the industry and increase in construction activities in the region
- Middle East & Africa (MEA) is likely to witness rise in the demand for flaring tools during the forecast period, due to growth of the oil & gas industry in the region
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Global Flaring Tool Market – Competition Landscape
Key Players Operating in Global Market
The global flaring tool market is highly concentrated, with the top manufacturers accounting for approximately 25%–30% of the market share. Key players operating in the global flaring tool market include:
- Emerson Electric Co.
- Malco Products
- Acme Tools
- SUPER TOOL Co. Ltd.
- MAXCLAW TOOLS CO., LTD.
- ROMAC INDUSTRIES, INC.
- Ferguson Enterprises, LLC
- Fastenal Company
- SSP Fittings Corp.
Global Flaring Tool Market – Research Scope
The global flaring tool market can be segmented based on:
- Distribution Channel
Global Flaring Tool Market, by Product
Based on product, the global flaring tool market can be divided into:
- Hammer Type Flaring Tool
- Double Flaring Tool
- Single Flaring Tool
- Degree Flaring Tool
- Hydraulic In-line Flaring Tool
- Combination Flaring Tool
- In-line Flaring Tool
- Pipe Flaring Tool
Global Flaring Tool Market, by Size
In terms of size, the global flaring tool market can be classified into:
- 1/8 inch
- 3/16 inch
- 1/4 inch
- 5/16 inch
- 3/8 inch
- 7/16 inch
- 1/2 inch
- 5/8 inch
- 3/4 inch
Global Flaring Tool Market, by Distribution Channel
In terms of distribution channel, the global flaring tool market can be segmented into:
- Direct sales
- Indirect sales
Global Flaring Tool Market, by Application
Based on application, the global flaring tool market can be categorized into:
Global Flaring Tool Market, by Industry
In terms of industry, the global flaring tool market can be segregated into:
- Defense & Aerospace
- Oil & Gas
- Consumer Goods
Global Flaring Tool Market, by Region
Based on region, the global flaring tool market can be divided into:
- North America
- Rest of North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
The report incorporates in-depth assessment of product development, financial analysis, product market sizing, competition landscape, product benchmarking, market trends, and strategic analysis to estimate the potential opportunities for and impact forces of the global flaring tool market. The report also includes a study and qualitative and quantitative research of major development in the market such as mergers and acquisitions, new product launches, agreements, and collaborations to recognize the prevailing market dynamics and their estimated impact during the forecast period.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.