Improving economic conditions and rapid urbanization have led to an increase in the sales of automobiles in emerging markets. Rivet processing tools (rivet guns) are widely used to manufacture and assemble the parts of an automobile using rivets. The automotive industry across the globe has been enjoying a period of relatively strong and substantial growth and profits, which consequently has been surging the demand for rivet processing tools (rivet guns). Economic growth improves the standard of living, alongside the spending power of people. Increasing Sales of Automotive, Supported by Economic GrowthĪs per IMF data, the global economy grew by 3.8% (real GDP) in 2017. The segment is projected to create an incremental dollar opportunity worth nearly US$ 46.2 Mn during the forecast period. Sales in Japan grew with the gradual recovery of investments in the housing sector and the demand for restoration following the Great East Japan Earthquake.īy the end of the forecast period, the application of rivet guns in the building and construction industry is anticipated to grow 1.71X in terms of value, as compared to 2018. The sales of rivet guns in India has been growing with rapid infrastructural development and urbanization, and strong investment in the construction housing sector. Growth in aerospace, automotive and marine fasteners is also expected to drive demand for rivet guns in the global market. Investment in the housing sector is a major factor fueling the demand for rivet guns and rivet processing tools as rivets are widely used in residential construction for the attachment of doors through hinges, as well as roofing and ceiling. According to the UN, the world population is expected to increase by 20% between 20, with Asia and Africa projected to contribute significantly to this growth, which is expected to further lead to urbanization and the subsequent need for hand and power tools. Urbanization has been creating a need for additional infrastructure development, such as transportation, energy and related maintenance services all of which require rivet processing tools. Increasing Housing Investments and Rapid Urbanization to Drive Demand for Rivet Processing Tools

Rivet guns