In 2018, rivet guns market were sold, with a market value of US$ 799.9 Million. According to the most recent FMI study on the rivet gun market, rivet gun sales will increase by 6.1% in 2028. The rivet gun market’s anticipated growth can be attributed to,
- Increasing popularity of power tools and design developments through technology innovations
- Buoyancy in the construction industry led by smart city constructions and modern infrastructure developments
- Optimistic outlook of the manufacturing sector on the back of improving economic scenario across world economies
The rivet gun marketplace remains moderately consolidated wherein leading companies share significant revenue share in the market. As demand for power tools increases, manufacturers are focusing on developing tools with high-power output, durability and higher user friendliness.
The FMI study finds that amid demand for battery operated and pneumatic rivet guns, manual or hand operated rivet guns will continue to account for over half the rivet guns sales throughout the forecast period.
Take a Deep Dive: Access Our Sample Report to Understand How the Shipping Industry and Green Hydrogen Initiatives Drive the Rivet Guns Market@
https://www.futuremarketinsights.com/reports/sample/rep-gb-7911
According to FMI’s pricing analysis, owing to the lower price of manual and hand operated rivet guns, the revenue share of these guns remains lower as compared to pneumatic and battery operated rivet guns. However, superior functional operations and demand for advanced tools across industries are likely to account for growing demand for pneumatic and battery operated rivet guns.
As per the FMI study, demand for pneumatic rivet gun will continue to increase in the future. In 2018, pneumatic rivet guns accounted for over half of global revenues. Functional efficiency and reduced time consumption can be attributed to rising sales of pneumatic rivet guns. The study opines that owing to easy handling of battery operated rivet guns, their popularity is increasing among end users.
Slow Hitting Type Accounted for 5 in 10 Sales in 2018
As per the FMI valuation, slow hitting rivet guns accounted for over half the sales in 2018 and the demand trend is expected to continue throughout the estimation period. Significant sales of slow hitting rivet guns can be attributed to the control in operation provided by the tool as compared to pop riveting or fast-hitting rivet gun.
Pop riveting rivet gun is the second most popular rivet guns followed by slow hitting rivet guns. In 2018, pop riveting rivet guns accounted for nearly 2 in 10 sales. Flexible use for different end-use application is increasing the sales of pop riveting machines in the rivet gun market.
Medium Duty Rivet Guns Top Selling Category:
The FMI study finds that over half the rivet gun sales in 2018 were accounted for medium duty guns. These type of rivet guns are highly utilized across end-user industry often in combination with slow hitting and pneumatic functions.
The sales of medium duty rivet guns are expected to grow significantly in the coming years. Also, FMI shows that sales of heavy duty rivet guns will increase in the future owing to the growing need for efficient and durable rivets in marine vessels and air crafts.
Automotive and Transportation Industries Remain Prominent End User:
The FMI study finds that the over 3 in 10 rivet guns were sold in automotive and transportation industries in 2018. Buoyancy in the automotive industry and significant developments in auto part design to achieve higher operational output can be attributed to higher sales of rivet guns in the industry.
Increasing numbers of railway projects and government support for transportation infrastructure development is also contributing to the growth of rivet gun sales in the automotive and transportation industries.
Tailor-Made Solutions: Customize Your Report to Gain a Competitive Edge in the Rivet Guns Market@https://www.futuremarketinsights.com/customization-available/rep-gb-7911
About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
Contact Us :
Future Market Insights, Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Browse All Reports: https://www.futuremarketinsights.com/reports
