The worldwide market of riveting tools is expected to reach 315 million US$ by the year 2026 with a CAGR of 5.2%. Reviving tools are used in the fabrication of process during the joining of two components. The process is widely used in the engineering industry.
The increase in the use of high end joining technology in the automotive industry and the growth of the different industries is driving the market. The cost-effectiveness and efficiency of this technology is also the reason for its fame. Like all other technology this technology has evolved with time however some recent trends of technology can hinder the market growth such as wireless charging.
In terms of tool type pneumatic riveting tool has the highest market share and it is expected to keep that position in the forecast period of the analysis. Pneumatic riveting tools is the power tool that uses compressed air for joints. In term of the end-users automotive and aerospace segment is leading the market and it is expected to keep on growing.
Asia Pacific holds the largest market share due to the increase in demand for MRO and assembly operations. Different regions and major players are including into the analysis along with all the factors affecting the market in these regions.