Global Riveting Equipment Market: Introduction
- Riveting is a technology used in fabrication processes. A riveting equipment is used for high-end joining of two components.
- Pressed, radial, and orbital are some of the well-known mechanisms used in the industrial sector. Among these, radial riveting is one of the significantly employed technologies, as it furnishes high-quality joints with less input force and reduced process duration.
- Automated riveting provides greater consistency, increases productivity and is also cost effective than manual riveting.
- Prices of pneumatic riveting equipment are estimated to decrease in the next few years, which is attributable to emergence of battery-powered riveting equipment
- Higher efficiency of the pneumatic riveting equipment is likely to increase the replacement rate of the product. Though, the replacement rate is anticipated to be low for the aerospace industry in the next couple of years, as large scale companies have pre-installed infrastructure for use of pneumatic equipment.
Global Riveting Equipment Market: Dynamics
- Rising demand from the metal processing sector is considered to be a key factor driving the global riveting equipment market
- Growing industrial activities and improvement in manufacturing and assembling processes in various end-user industries in different countries are expected to augment the demand for riveting equipment during the forecast period
- Growing concerns about effective and efficient operations, robust structure of riveting equipment, and precise operational accuracy of riveting equipment in metal-processing operations are expected to drive the global riveting equipment market during the forecast period
- Moreover, technological upgrade in the manufacture of riveting equipment and considerable growth of the industrial sector in East Asia and South Asia are expected to create immense opportunities for the global riveting equipment market during the forecast period
- However, lack of skilled labor and proper training is expected to restrain the global riveting equipment market during the forecast period
- Moreover, high costs associated with development of the riveting technology and time-consuming process for production of riveting equipment are anticipated to restrain the global riveting equipment market in the next few years
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Global Riveting Equipment Market: Segmentation
- Based on product, the global riveting equipment market can be segmented into pneumatic riveting equipment, battery-powered riveting equipment, and others
- Pneumatic riveting equipment is anticipated to be a prominent segment of the global riveting equipment market during the forecast period, due to high operational efficiency of these equipment
- Based on application, the global riveting equipment market can be divided into automotive & aerospace, building & construction, and transportation
- Automotive & aerospace is anticipated to be a major application segment of the global market during the forecast period. With the rising demand for passenger cars, especially in China and India, the demand for riveting equipment in the automotive industry is expected to increase in the next few years. In addition, riveting equipment are largely used in the aerospace industry for manufacture of aircraft bodies, cabin interiors, etc. This is expected to augment the market during the forecast period.
- The segment is anticipated to gain higher market share and maintain its leading position in the global riveting equipment market during the forecast period
Asia Pacific to Lead Global Market for Riveting Equipment
- In terms of region, the global riveting equipment market can be divided into North America, Europe, Asia Pacific, South America, and Middle East & Africa.
- Asia Pacific is likely to witness the maximum demand for riveting equipment from 2019 to 2027. Increasing demand for assembly and manufacturing operations in aerospace and automotive industries in developing economies in Asia Pacific has propelled the market in the region. Moreover, growth of the construction sector and increase in infrastructure development activities are also expected to drive the market in the region during the forecast period.
Key Manufacturers Operating in Global Market
The global riveting equipment market was moderately fragmented in 2018. Key manufacturers operating in the global market are:
- Arconic Fastening Systems
- BalTec Corporation
- Bollhoff Fastenings Pvt. Ltd.
- GESIPA Blindniettechnik GmbH
- Stanley Black & Decker, Inc.
- Rivtec Ltd.
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Global Riveting Equipment Market: Research Scope
Global Riveting Equipment Market, by Product
Global Riveting Equipment Market, by Application
- Automotive & Aerospace
- Building & Construction
Global Riveting Equipment Market, by Region
- 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
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.
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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.