Manual Riveter Market Report Overview
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The global manual riveter market size is expanded rapidly in 2022, as per our research, the market is expected to generate substantial revenue by 2031. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.
The global COVID-19 pandemic has been unprecedented and staggering, with the manual riveter market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels.
A manual riveter is a hand-operated tool used for fastening two or more pieces of material together using a rivet. A rivet is a type of mechanical fastener consisting of a cylindrical shaft with a head on one end and a tail on the other. To use a manual riveter, the rivet is inserted into a pre-drilled hole in the material, and the tool is then squeezed or "pulled" by the user to join the materials together. This process deforms the tail end of the rivet, creating a permanent connection between the two pieces of material. Manual riveters are commonly used in metalworking, woodworking, and automotive applications, among others.
The manual riveter market is segmented by type, by application, and geography. Also, the market is estimated to witness an escalation growth with an impressive CAGR due to growing demand for the tool in various industries including aerospace and construction. Therefore, the rising demand for riveters is attributed to augment the growth rate of the market.
COVID-19 Impact: Pandemic Slowed Down Supply Chain, Declined the Market Growth
The COVID-19 pandemic has slowed down global supply chains, which has led to shortages of raw materials and components needed to manufacture manual riveters. Also, the use of manual riveters has decreased in some industries due to a decline in manufacturing and construction activities during the pandemic. This, in turn, has led to increased prices for these tools, which has impacted the affordability and availability of manual riveters in some regions. However, after lifting the restrictions from the local and global industries, the market is predicted to overcome the post-pandemic effects and it will witness exponential growth in the future.
Latest Trends
"Trend of Development of more Ergonomic & Efficient Tool to Expand the Market Opportunities"
The latest trend in the manual riveter market is the development of more ergonomic and efficient tools that are easier to use and require less physical effort from the user. Manufacturers are introducing new features, such as rubberized handles and lightweight materials, to improve comfort and reduce fatigue during extended use.
Another trend in the manual riveter market is the increasing use of digital technologies, such as automation and augmented reality, to improve productivity and accuracy. Some manual riveter manufacturers are incorporating automation into their tools, allowing for faster and more precise riveting. Augmented reality tools are also being developed to assist with the alignment and positioning of rivets, making the process easier and more accurate.
Manual Riveter Market Segmentation
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- By Type Analysis
According to type, the market can be bifurcated into Automatic and Semi-automatic.
- By Application Analysis
Based on application, the market can be divided into For Rivets, For Inserts, For Bolt, and For Nut.
Driving Factors
"Growth in the Construction Industry Directly Benefits the Market Growth"
The manual riveter market is expected to witness exponential growth during the forecast period due to several driving factors. One of the major factors is the growth of the construction industry. The construction industry is a major user of riveters, and as the construction sector grows, the demand for riveters also increases. Therefore, the growth of this field will aid the manual riveter market growth.
"Rapid Industrialization and Maintenance & Repair Activities to Foster the Market Growth"
Along with construction, the increasing industrialization in emerging countries is driving the demand for riveters in the manufacturing and production industries. Apart from this, riveters are also used in maintenance and repair activities, which are essential to keep machines and structures in good condition. As well as, the market is also driven by DIY and home improvement activities. With an increasing number of people engaging in DIY and home improvement activities, there is a growing demand for affordable and easy-to-use riveters in these activities which is going to upsurge the growth rate of the market in the future.
Restraining Factors
"A limited Range of Applications and Availability of Alternatives Can Curb the Market Expansion"
The manual riveter market can be confined by some factors such as a limited range of applications. For instance, manual riveters are not suitable for all applications, especially those that require high precision, consistency, or strength. This can be a barrier to their use in certain industries and applications. Similarly, the availability of automated and pneumatic riveting machines can also limit market development. As many users may choose to invest in these alternatives rather than relying on manual riveters.
Manual Riveter Market Regional Insights
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"North America Dominates the Market Owing to High Demand for Manual Riveters in Various Industries "
In terms of market revenue, the North American region is expected to have significant manual riveter market shares during the projection period. Due to the presence of several key manufacturers and the high demand for manual riveters in various industries, including aerospace, automotive, and construction in the region drive the market growth. Additionally, the U.S. and Canada contribute majorly to the machine’s demand and supply, which is likely to generate the highest profit in the market. Furthermore, the Asia Pacific is anticipated to be the second-largest market for manual riveters owing to rapid industrialization in developing countries.
Key Industry Players
"Key Players Concentrate on High-Quality & Efficiency of the Tool to Maintain Brand Value "
Numerous eminent companies are present in the market and giving competition to other companies with their high-quality manual riveters, and innovative product designs. Along with this, their main focus is on customer satisfaction which motivates them to maintain the company’s reputation and their constant improvement in product quality and efficiency of the tool which makes them key players in the market. Some major companies such as ABC TOOLS SPA, AmPro Tools Corporation, Arconic, BENDEL Werkzeuge GmbH & Co. KG,Beta Utensili, BGS technic KG, Bungard-Elektronik GmbH & Co. KG, Cleco Tools, DEGOMETAL, DUBUIS Outillages and others hold the majority of the manual riveter market shares and will stimulate the market growth in the future.
List of Market Players Profiled
- ABC TOOLS SPA
- AmPro Tools Corporation
- Arconic
- BENDEL Werkzeuge GmbH & Co. KG
- Beta Utensili
- BGS technic KG
- Bungard-Elektronik GmbH & Co. KG
- Cleco Tools
- DEGOMETAL
- DUBUIS Outillages
- FAR
- Fastpoint Srl
- Ferval
- GESIPA® Blindniettechnik GmbH
- GYS
- HONSEL-Group
- KROFtools Professional Tools
- KVT-Fastening GmbH
- Pro-Tek
- RIVELIT
- RIVIT
- SIMAF
Report Coverage
This report defines the manual riveter market. It emphasizes the market value, expected CAGR, and USD value over the forecast period, before and after the impact of the COVID-19 pandemic restrictions on the international market, and how the industry is going to turn the corner is also stated in the report. The report provides significant market data with its product type and product applications, end-use details, and an idea of the market growth in the future. This report also provides an understanding of the growing market trends and developments and their effects on the market growth, driving factors along with restraining factors that impact the market dynamics. Along with this, the leading region, key players of the market, and their tactics to beat the market competition, sustainable policies, their collaboration, mergers, companies’ profile, previous years’ revenue, profit & loss, and market position based on their share value in the market, are also explained in the report.
Frequently Asked Questions
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What are the key driving factors of the global manual riveter market?
Expansion of the construction industry, rapid industrialization, and maintenance & repair activities are the driving factors of the manual riveter market.
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What is the leading region in the manual riveter market?
North America is dominating the manual riveter market due to several key manufacturers and the high demand for manual riveters in various industries, such as aerospace, automotive, and construction in the region.
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What are the key players in the manual riveter market?
ABC TOOLS SPA, AmPro Tools Corporation, Arconic, BENDEL Werkzeuge GmbH & Co. KG,Beta Utensili, BGS technic KG, Bungard-Elektronik GmbH & Co. KG, Cleco Tools, DEGOMETAL, DUBUIS Outillages, FAR, Fastpoint Srl, Ferval, GESIPA® Blindniettechnik GmbH, GYS, HONSEL-Group, KROFtools Professional Tools, KVT-Fastening GmbH, Pro-Tek, RIVELIT, RIVIT, and SIMAF are the top players of the manual riveter market.
