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
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