The global rivet gun market is expected to reach US$ 799.9 Million by the end of the forecast period, with a value CAGR of 6.1%. Increased demand for pneumatic rivet guns and increased online rivet gun sales are two major factors expected to drive global rivet gun demand.
- Increasing popularity of power tools and design advancements as a result of technological advancements
- Construction industry buoyancy driven by smart city constructions and modern infrastructure developments
- Optimistic outlook for the manufacturing sector as a result of improving economic conditions in global economies
The rivet gun market remains moderately consolidated, with leading companies accounting for a sizable portion of market revenue. Manufacturers are focusing on developing tools with high power output, durability, and user friendliness as demand for power tools grows.
According to the FMI study, manual or hand operated rivet guns will continue to account for more than half of rivet gun sales throughout the forecast period, despite demand for battery operated and pneumatic rivet guns.
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According to FMI’s pricing analysis, the revenue share of manual and hand operated rivet guns remains lower than that of pneumatic and battery operated rivet guns due to their lower price. Superior functional operations and demand for advanced tools across industries, on the other hand, are likely to account for rising demand for pneumatic and battery-powered rivet guns.
According to the FMI study, the demand for pneumatic rivet guns will continue to rise in the future. Pneumatic rivet guns accounted for more than half of global revenue in 2018. Rising sales of pneumatic rivet guns can be attributed to increased functional efficiency and reduced time consumption. According to the study, battery operated rivet guns are becoming more popular among end users due to their ease of use.
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.
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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.
Offline Distribution Accounted for over 6 in 10 Rivet Gun Sales in 2018
The FMI study estimates that sales of rivet guns through traditional distribution channel continue to garner end user traction owing to the reliability of purchase. Also, distributors have a stronghold in the offline sales channel, thereby contributing to higher sales of rivet guns through this channel.
The study also finds that sales of rivet guns through online distribution platform is increasing significantly. In 2019, the sales of rivet guns through online sales channel will grow at 4.8% y-o-y and the status-quo is likely to continue owing to growing popularity and reliability of the online sales platforms.
North America at the Helm, Western Europe Second Largest Market
FMI shows that demand for rivet guns remains higher in North America and Western Europe regions. Collectively, they accounted for over 4 in 10 rivet guns sales in 2018. Significant growth of the end-user industries in these regions continues to boost the revenues of the rivet gun market.
Demand for rivet guns in developing economies on the back of rapid urbanization, infrastructure development and improving economic scenario is expected to rise. The FMI study finds that India, China and countries in Southeast Asia & Pacific will witness a significant surge in demand and their sales in these countries will grow over 5% y-o-y in 2019.
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Rivet Gun Market: Segmentation
On the basis of product type, the global Rivet Gun market has been segmented into:
- Pneumatic Rivet Guns
- Manual or Hand Operated Rivet Guns
- Battery Operated Rivet guns
On the basis of capacity, the global Rivet Gun market has been segmented into:
- Light duty Rivet Guns (less than 3mm)
- Medium duty Rivet Guns (3-5 mm)
- Heavy Duty Rivet Guns (> than 5mm)
On the basis of operation type, the global Rivet Gun market has been segmented into:
- Pop Riveting
- Slow Hitting
- Fast Hitting
On the basis of distribution channel, the global Rivet Gun market has been segmented into:
- Online Sales
- Offline Sales (Retailers, Distributors)
On the basis of end use, the global Rivet Gun market has been segmented into:
- Automotive & Transportation
- General Manufacturing
- Electronics
- Building & Construction
- Others
On the basis of region, the global Rivet Gun market has been segmented into:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South East Asia & Pacific
- Middle East & Africa
- China
- India
- Japan
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