The new riveting equipment market research from Technavio indicates neutral growth in the short term as the business impact of COVID-19 spreads.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210122005254/en/
Technavio has announced its latest market research report titled Global Riveting Equipment Market 2021-2025 (Graphic: Business Wire)
Get detailed insights on the COVID-19 pandemic crisis and recovery analysis of the riveting equipment market.
"One of the primary growth drivers for this market is the steady growth in demand for production of various automotive components," says a senior analyst for industrials at Technavio. The market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments. As the markets recover Technavio expects the riveting equipment market size to grow by USD 112.99 million during the period 2021-2025.
Riveting Equipment Market Segment Highlights for 2020
The riveting equipment market is expected to post a year-over-year growth rate of 5.03%.
Based on the end-user, the aerospace segment saw maximum growth in 2020. The rise in automotive sales is being driven by several factors, including the demand from developing countries, low oil and gas prices, increased demand for sports utility vehicles (SUVs) and trucks in the US, and growing demand for electric vehicles (EVs).
The growth of the market segment will be significant during the forecast period.
44% of the growth will originate from the APAC region.
The growth in industrialization and rapid urbanization is one of the prime factors that will facilitate the riveting equipment market growth in APAC over the forecast period.
China and Japan are the key markets for riveting equipment in APAC. Market growth in this region will be faster than the growth of the market in other regions.
Click here to learn about report detailed analysis and insights on how you can leverage them to grow your business.
Related Reports on Industrials Include:
Global Industrial Thermostatic Control Valves Market- The industrial thermostatic control valves market is segmented by end-user (oil and gas industry, water and wastewater treatment industry, power industry, and others), geography (APAC, Europe, MEA, North America, and South America), and key vendors. Click Here to Get an Exclusive Free Sample Report
Global Nondestructive Testing Equipment Market- The non-destructive testing (NDT) equipment market is segmented by product (ultrasonic testing equipment, radiography testing equipment, visual testing equipment, and others), end-user (oil and gas, power generation, aerospace, automotive, and others), geography (North America, Europe, APAC, MEA, and South America), and key vendors. Click Here to Get an Exclusive Free Sample Report
The riveting equipment market size is expected to accelerate at a CAGR of almost 6% during the forecast period.
The riveting equipment market is segmented by end-user (Aerospace, Automotive, Industrial gas turbine, Construction machinery, and others), geography (Europe, North America, APAC, South America, and MEA), and technology (Pneumatic, Hydraulic, and Electric).
The market is fragmented due to the presence of many established vendors holding significant market share.
The research report offers information on several market vendors, including Ace Rivet & Fastener Inc., BalTec Corp., Capmac Industry Srl, Constantin Hang Maschinen-Produktion GmbH, E Ding Co. Ltd., GESIPA Blindniettechnik GmbH, Howmet Aerospace Inc., Soartec Industrial Corp., Stanley Black & Decker Inc., and Wilhelm Bollhoff GmbH & Co. KG
Register for a free trial today to access 17,000+ market research reports using Technavio's SUBSCRIPTION platform
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210122005254/en/