The global market for automatic self-piercing rivets is projected to reach 45.0 billion units by 2022, growing at a CAGR of 26.2% during 2016 – 2022.
Global automatic self-piercing rivets market worth 8.1 billion units in 2015
As per the research, the global market for automatic self-piercing rivets is likely to grow from 8.1 billion units in 2015 to 45.0 billion units by 2022. With the growth in lightweight vehicles segment and the increasing use of aluminum in the vehicle manufacturing process, the global automatic self piercing rivets market is gaining traction. The automatic self-piercing rivets market is emerging and are widely used across various vehicle segments such as luxury, cross overs and hatchback.
Insights on market segments
As per the findings of research, the conventional vehicles emanated the largest demand for automatic self-piercing rivets. Almac coating has been the largest revenue generator in the global market.
Europe stands as the largest automatic self-piercing rivets market
Europe accounted for the largest region in the global automatic self-piercing rivets market, where Germany contributed to the largest revenue. The U.S. was the major market in North America, whereas China contributed to the largest revenue in Asia-Pacific region. Rest of the World included Brazil as the largest market and Iran, South Africa and rest of Latin American, and Middle-East and African countries.
Top three players account for major market share
The research states that the global market for automatic self-piercing rivets had a consolidated structure in 2015, where the top three competitors accounted for a major share of the global market. Some of the key players in the global automatic self-piercing rivets market include Henrob Ltd, STANLEY Engineered Fastening, Wilhelm Bollhoff GmbH und Co. KG, TOX PRESSOTECHNIK GmbH & Co.KG, Richard Bergner Holding GmbH & Co. KG and ECKOLD AG.
Product launches and acquisitions have been the major recent developments in the global market for automatic self-piercing rivets. Stanley Engineered Fastening and Wilhelm Bollhoff GmbH und Co. KG are some of the companies that recently introduced new automatic self-piercing rivets solutions. Atlas Copco had made strategic acquisitions to expand their product portfolio in the automatic self-piercing rivets business.
News Courtesy: P&S Market Research