Crimping Tool Market Forecast and CAGR
According to the latest research by Fact.MR, crimping tool market is set to witness steady growth during 2021-2031. Demand for crimping products will witness steady recovery in short-term, with an optimistic growth outlook in the long run.
What are the Market drivers for Crimping Tool?
Increasing number of manufacturers, consumption of advanced gadgets are the main driving agents for crimping tool. Moreover, advanced crimping products are very easy to operate, so rising interest among end users has been observed for personal as well as professional uses in past few years.
Sales of crimping tool is relied upon the versatility of the tool and operation flexibility. Development of new advanced products for multipurpose utilization, lightweight products, targeting new manufacturers and penetration of products through different distribution channels are predicted to enable high demand during the forecast period
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Automotive and maintenance sectors are likely to augment crimping tool sales
Automotive industries around the globe have been impacted by COVID-19-induced slowdown. This has also had a ripple effect on automotive component and material sales. As lightweight gadgets and more versatile equipment are the key focus areas for automotive industries and manufacturing units this will lead to create the new opportunities for crimping tool manufacturers.
Crimping tool is also used extensively in residential repair activities for wire cutting and others application. Although lockdown and shelter-at-home guidelines have meant restricted the sales are likely to improve over the course of the assessment period.
US Market Outlook
US is one of the largest markets of crimping tool due to large presence of manufacturing and automobile industry. US crimping tool market is set to follow the same trajectory during the assessment period 2021-2031. Demand is likely to remain muted in the next couple of years, as a number of manufacturing unit shut down due to COVID-19 pandemic. But the market is expected to make a gradual recovery.
Demand for crimping products in US will be led by automotive repair and maintenance sector. Commercial utilization will account for the highest demand till 2031, as number of manufacturing units are increasing day by day.
In addition, a very low demand for crimping tool has been observed in first and second quarter of 2020 due to pandemic of COVID-19. However, this sluggishness will be compensated to an extent by demand from US automotive sector. The US and Canada manufacturing units and maintenance sectors is more likely to increase the consumption of crimping gadgets during forecast period, and this will continue to benefit crimping tool companies.
US crimping products sales is impacted by the maintenance and construction sector in 2021. The US construction sector faces a challenging year, however, there is growing optimism that low mortgage rates will lead to a spurt in early 2022. The momentum is likely to hold ground, which will provide an impetus to a range of construction material, including crimping tool.
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Europe Demand Outlook
Many countries in EU have been severely impacted by the COVID-19 crisis, which has led to a decline in economic activities. However, Europe is highly dependent on the automotive industries as this sector provides direct or indirect job to 13.8 million Europeans.
Despite the COVID-19 challenges, most European countries have maintained a significant demand of crimping products from manufacturing industries in 2020. Crimping tool holds the high demand from the manufacturing, maintenance sector and automotive sector due to which Europe is set to create the high demand for the products during the forecast period.
For crimping tool manufacturer, the high demand for Europe’s automobile industries can be satisfied by the large production of versatile products for automotive and maintenance sector.
Who are the Key Manufacturers and Suppliers of Crimping Tool?
Some of the leading manufacturers and suppliers of crimping tool include
- CONTA CLIP
- DUBUIS Outillages
- Carl Kammerling International Ltd.
- Changhong Plastics Group Imperial Plastics
Many leading manufacturers are looking forward for the advancement of crimping tool technology. Light weighted products are the main point of attraction for the end users. In addition, several advancement in cable cutting and crimping tool technology including data recording, bluetooth remote controls and pressure sensors technologies are attracting the consumers.
An Adaptive Approach to Modern-day Research Needs
Crimping Tool Market Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the co
- Manual crimpers
- Hydraulic crimpers
- Pneumatic crimpers
- Hammer crimpers
- Electrical crimpers
- Round nose
- Flat nose
- Long nose
- Mini pliers
- Locking pliers
- Slip joint pliers
- Diagonal pliers
- Combination pliers
- Stainless steel
- Chrome vanadium
- Wire stripper
By Distribution Channel
- Company websites
- E-commerce sites
- North America
- US & Canada
- Latin America
- Brazil, Mexico, Argentina & Rest of Latin America
- Germany, France, Italy, Spain, U.K., Benelux, Russia, and Rest of Europe
- East Asia
- China, Japan, South Korea
- South Asia
- India, Thailand, Malaysia, Indonesia and Rest of South Asia
- Australia and New Zealand
- Middle East and Africa
- GCC Countries, Turkey, South Africa, and Rest of Middle East & Africa
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Is the market research conducted by Fact.MR?
Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
What research methodology is followed by Fact.MR?
Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.
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