Riveting equipment Market Outlook - 2027
Riveting is a forging process, in which two parts are joined together by using a piece of metal usually known as rivet. Different types of riveting technologies are currently being employed in the industry. Pressed riveting, radial riveting and orbital riveting are some the riveting technologies which are currently being used. Riveting provides better quality of joint as compare to the other joining processes such as welding, brazing and soldering. In past few years, automated riveting has also been used in the manufacturing industry. In comparison with manual riveting, automated riveting gives better finishing as well as better joint quality. Riveting method is used in different industries such as automotive industry, aerospace industry.
COVID-19 scenario analysis:
- The demand for riveting equipment is expected to decrease in the year 2020 due to low demand from manufacturing industry.
- COVID-19 pandemic has shut-down the production of various products in the riveting equipment industry, mainly owing to the prolonged lockdown in major global countries. This has hampered the growth of riveting equipment 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 corona virus, 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.
Top impacting factors:
Riveting has emerged as an important and effective joining process in recent times. Riveting has wide range applications in different industries such as automobile, aerospace, boiler manufacturing. Riveting can also be used in construction and transportation industry as well. There has been some technological advancement in riveting methods. Industries have started using pneumatic riveting rather than using conventional or manual riveting for their operation. With rise in population in some Asian countries like India, china, Japan there is a rise in demand for automobiles as well. This helps in the growth of manufacturing industry and ultimately could prove to be the key driving factor for the growth of riveting equipment market. However, for riveting skilled labors are required, so the availability of skilled labor and training could be the restraining factor to the growth of riveting equipment industry.
The riveting equipment market trends are:
Use of new technology
Riveting methods has evolved in last few years. Industries are using new riveting technologies such as pneumatic riveting, riveting robots. These processes are more efficient and reliable as compare to the conventional manual riveting method.
Following are some technologies which are used in riveting method:
Pneumatic riveting: The operation of pneumatic riveting gun is very simple. Compressed air pushes the rivet in desired area when the operator presses the trigger of pneumatic riveting gun. Various advantages of pneumatic riveting gunover the convention riveting can be observed.
Pneumatic riveting guns are light in weight so that the operator can operate with ease without facing any difficulty.
Also, no power source is required for pneumatic rivet gun as there is no battery installed in the gun.
Quality of the joint achieved by pneumatic riveting gun is better as compare to the manual riveting.
Pneumatic riveting method is used in a modern Boeing 747.
Robotic riveting: Robotic riveting one of the technologically advanced method of riveting. Robotic riveting provides the joint with great precision and accuracy as well.
Use of riveting in aerospace industry: An aircraft contains large number of joints and materials used for the manufacturing of aircraft are heavy materials. Riveting plays an important role in manufacturing of an aircraft. As riveting provides strong joint, better finishing, it is widely used in the aircraft industry. Also pneumatic riveting process is efficient, so it preferred over the other riveting processes.
As the aerospace industry is progressing, it will help riveting equipment market to grow.
Improvement in Asia Pacific region:
There is high demand from automotive sector especially from Asian developing countries like India. Huge number of manufacturing opportunities is present in these countries. Therefore, riveting market is also expected to grow in these regions.
Restraining factors to the growth of riveting equipment market
There are some factors which can be the restraining factors to the growth of the riveting equipment market. Skilled labors can one of the restraining factor for the growth. Proper training must be provided to the labor.
Also the cost of equipment used for riveting is considered to be on higher side and because of technological advancements in the riveting equipment; its cost is expected to be more. Process of riveting is time consuming, therefore some companies prefers other metal joining processes such as welding, brazing.
Key benefits of the report:
- This study presents the analytical depiction of the riveting equipment market 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 market share.
- The current market is quantitatively analyzed to highlight the market growth scenario.
- The report provides a detailed riveting equipment market analysis based on competitive intensity and how the competition will take shape in coming years.
Riveting Equipment Market Report Highlights
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 Key Market Players | BalTec Corporation, ,Rivtec Ltd, Arconic Fastening Systems, Stanley Black & Decker, Inc, Edward Segal Inc, GESIPA Blindniettechnik GmbH, Orbitform, Chicago rivet & machine co., Bollhoff Fastenings Pvt. Ltd. |
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