Investment in housing spurs demand for rivet guns, used in construction for doors, roofing, and ceilings. Growth in aerospace, automotive, and marine sectors also boosts global market demand.
The global rivet gun market expects a valuation of US$ 799.9 million by the conclusion of the forecast period in 2028. This trajectory is underpinned by a robust Compound Annual Growth Rate (CAGR) of 6.1%, reflecting consistent and substantial growth that surpasses conventional expectations.
The distinguishing factor behind this narrative lies in the orchestrated interplay of various elements driving this ascent. Foremost among them is the burgeoning demand for pneumatic rivet guns. Renowned for their efficiency and precision, these tools occupy a pivotal position in this harmonious ensemble. Their increasing popularity has solidified their status as indispensable instruments for industries striving to optimize production processes, thereby making significant contributions to modern manufacturing practices.
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Evolving Landscape: Concentration, Preferences, and Demand Trends in the Rivet Gun Industry
The rivet gun sector remains characterized by a notable level of concentration, with dominant players commanding a substantial share of market revenue. As the demand for power tools continues to evolve, manufacturers are diligently developing equipment that embodies high power output, durability, and user-friendly attributes.
Despite the growing demand for battery-driven and pneumatic rivet guns, it is projected that manual or hand-operated rivet guns will maintain their dominance, accounting for over half of all rivet gun sales during the envisioned period, as outlined by the FMI report.
Manual and hand-operated rivet guns, owing to their lower cost, maintain a comparatively smaller revenue share than their pneumatic and battery-driven counterparts, according to FMI's pricing study. However, the augmented functional efficiency exhibited by pneumatic and battery-powered rivet guns is expected to contribute to their increased demand across diverse sectors.
The need for pneumatic rivet guns is poised to experience continued growth, as highlighted by the FMI report. In 2018, pneumatic rivet guns accounted for over half of the global revenue in this domain. The surge in sales of pneumatic rivet guns can be attributed to their enhanced functional efficiency and reduced time consumption.
Distribution Dynamics and Regional Trends in the Rivet Gun Market:
In 2018, traditional offline distribution channels played a pivotal role, constituting more than 60% of the total rivet gun sales. The FMI study underscores that the reliability associated with such purchases continues to attract end-users. Moreover, the firm grip maintained by distributors in the offline domain further fuels the heightened sales of rivet guns through this channel.
The study also illuminates the escalating trend of rivet gun sales through online distribution platforms. Anticipated to grow at an impressive 4.8% year-on-year in 2019, this trajectory is projected to persist. The surge in popularity and the augmented reliability of online sales platforms are the key drivers behind this growing preference.
The demand for rivet guns demonstrates its stronghold in North America and Western Europe, jointly commanding over 40% of the total sales in 2018. The thriving end-user industries in these regions remain instrumental in propelling the revenue stream of the rivet gun market.
Amidst the backdrop of rapid urbanization, infrastructural advancement, and an improving economic landscape, demand for rivet guns is set to surge in developing economies. The FMI study projects significant growth in demand across India, China, and the Southeast Asia & Pacific region.
Key Players:
Some of the key manufacturers covered in this study on the global rivet gun market are GESIPA Blindniettechnik GmbH, Arconic Inc. Atlas Copco AB, Stanley Black & Decker, Inc., Rivetec s.r.o., Malco Products, SBC, Degometal, Fastening Systems International Inc., Ingersoll-Rand plc, LOBTEX Co., Ltd., JPW Industries Inc, Honsel Umformtechnik GmbH, FAR, Campbell Hausfeld and Astro Pneumatic Tool Company.
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Rivet Gun Market: Segmentation
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Author:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market.
Feb 09, 2024
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