The global Rivet Gun market is experiencing a significant growth and will grow considerably in next few years. Rivet Guns are a type of tools that are used to drive rivets in tight spaces. Rivets are a type of mechanical fasteners that consist of a smooth, cylindrical shaft and a head. On installation, the end of the shaft expands and fastens two or more objects in place. Rivet guns are preferred in various industries and applications over other alternatives due to the precision of the driving force it can generate. Rivet guns are available in various sizes and shapes and also come with a variety of handles and grips. Rivet guns are generally light weight tools and ergonomically designed so that they are easy to use. The battery powered rivet guns generally operate on Lithium-ion batteries and have long lasting battery life and quick recharging. The only restraining factor may be the cost of the cordless or battery-operated rivet guns but that is also negated by the long-term usability, durability and benefits of the tool. Pneumatic rivet guns are also facing increasing demand and have large scale industry applications.
COVID-19 scenario analysis:
- COVID-19 pandemic has shut-down the production of various products in the global rivet gun industry, mainly owing to the prolonged lockdown in major global countries. This has hampered the growth of the global rivet gun market significantly from last few months, as is likely to continue during 2020.
- COVID-19 has already affected the sales of equipment and machinery in the first quarter of 2020 and is likely to cause a negative impact on the market growth throughout the year.
- The major demand for equipment and machinery was previously noticed from giant manufacturing countries including the U.S., Germany, Italy, the UK, and China, which is badly affected by the spread of coronavirus, thereby halting the demand for equipment and machinery.
- Further, potential impact of the lockdown is currently vague and financial recovery of companies is totally based on its cash reserves. Equipment and machinery companies can afford a full lockdown only for a few months, after which the players would have to modify their investment plans.
- Equipment and machinery manufacturers must focus on protecting their workforce, operations, and supply chains to respond toward immediate crises and find new ways of working after COVID-19 infection cases start to decrease.
COVID-19 scenario analysis :
- COVID-19 (Coronavirus) pandemic has forced many companies in the Rivet Gun market to halt their business operations in order comply with the new government rulings. This pause in operations are directly impacting the revenue flow of the Rivet Gun market.
- Construction and manufacturing industry is at a standstill due to the lockdown imposed by governments around the world to reduce the exponential spread of the deadly virus.
- Labourers have been furloughed so as to stop the spread of the virus in keeping with government guidelines and almost all economic activity is on hold.
- This has caused ongoing projects to get shelved, investors to pull out of future investments and in general the global economy has seen contracting measures being implemented instead of the normal expansion.
- This is a major hindrance to the global rivet gun industry as without normal economic activity all the target industries including construction and manufacturing, automotive, railways, aerospace etc will have a slow recovery and resumption of work at full capacity.
- This is bound to reduce and slow down the sales of rivet guns all over the world over the course of the current economic year.
Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
The surge in number of large-scale infrastructure projects such as transportation and energy related projects have created a growing need for industrial precision tools. For example, the famous Golden Gate Bridge in San Francisco, CA, USA has approximately 600,000 rivets per tower. Rivets are ideal for watertight applications and supporting shear and tensile loads. Rivets are used widely in both lightweight and heavy-duty applications alike. Applications of rivets can be found in sheet metal assemblies of automotive, aerospace, railways, defense etc industries as well as the construction industry to attach doors through hinges, roofing and ceiling etc. Surge in global infrastructure, defense and automotive projects are driving factors for growth of the global rivet gun market.
The global rivet gun market trends are as follows:
Growth in global Automotive Industry to help the market grow
The global Automotive Industry has been enjoying sustained growth and profits for a good few years now. The more mature automotive economies like Western Europe, Japan and the United States are expected to grow slowly but the continued penetration into new markets are expected to propel revenue. The auto sector in the emerging nations with increasing middle classes are forecast to grow at a much faster pace as consumers with higher disposable incomes will stimulate demand for motor vehicle.
The implementation of rivet guns in the global automotive sector is wide and is vital to sheet metal work, fabrication, and other related operations. Rivet guns will continue to grow in popularity as the auto sector continues to flourish.
Surge in large scale construction projects
Public infrastructure expansion and maintenance continue to grow. Private real estate development and individual residential construction are also going to continue growing as population and urbanization increases around the world. Schools, hospitals and other public interest facilities need to be built, expanded or updated. These myriad projects of varying scale and size will continue to aid the global rivet gun market as the usage of handy precision tools go hand in hand with such infrastructure growth. The growth in the global construction market is driven by the US, China and India as the most important construction markets and construction work around the world in Asia-Pacific and LAMEA regions are forecast to grow in the future.
The implementation of this device in the system would optimize performance as it will increase the efficiency of the workers and increase precision and finishing quality. The overall bill of materials cost and total cost of solutions will also be lowered as these easy to use precision tools will help in less wastage of materials and time. This proves crucial in automotive, industrial, and construction applications. Because, in these applications, precise and high quality engineering is of paramount importance to the overall finish, look and usability of the end product.
Key benefits of the report:
- This study presents the analytical depiction of the global rivet gun industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global rivet gun market share.
- The current market is quantitatively analyzed to highlight the global rivet gun market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global rivet gun market analysis based on competitive intensity and how the competition will take shape in coming years.
Rivet Gun Market Report Highlights
By Industry Vertical
Key Market Players
Ingersoll-Rand, Honsel Umformtechnik, Degometal, SRC Metal (Shanghai) Co. Ltd, Atlas Copco, RIVETEC Ltd, Malco Products, JPW Industries, Stanley Black & Decker, FAR Rivet Guns, Fastening Systems International, Campbell Hausfeld, GESIPA Blindniettechnik GmbH, Lobtex