What is a Bolt?
A bolt is a type of fastener, generally made of metal that commonly has a head at one end, a chamfer at the other. It also has a shaft characterized by an external helical ridge known as thread. Bolts are utilized to hold materials or objects together or to position objects according to the requirement.
The chamfer at the opposite end of the head offers a slightly beveled edge, which provides support while inserting the bolt into holes and nuts. Bolts typically (but not always) need a nut, which is applied with torque while the bolt is held in place. Vibration or dynamic loads may loosen nuts, necessitating the use of locknuts, lock washers or thread lockers which can offer resistance to loosening.
What are Bolting Tools?
Bolting tools are equipment utilized to tighten the bolts with little effort. Bolting tools are compact, easy to use, convenient, and accurate. The demand for bolting tools is rising attributing to the rise in automation in the industries.
Types of Bolting Tools
Electric Bolting Tools
Electric bolting tools have an impressive accuracy and it can be utilized anywhere, as they are cordless and do not need any hoses of power or extension of power for operation. A high range of electric bolting tools provide various features such as two-hand operation, dual speed mode, data recording, brushless motor, torqued achieved notifications, wheel bolting extension, two battery variations, safety holder for working height, low noise operation, Bluetooth connectivity, and two direction switches. Electric bolting tools are one of the ultimate solutions for portability and convenience in industrial bolting. They are faster, safer, and more accurate than other types of bolting tools in the market.
Hydraulic Bolting Tools
Hydraulic bolting tools are preferred tools used for tightening bolts and studs. This type of bolting tool is useful in critical applications such as windmills, heat exchangers, boiler feed pumps, pipeline flanges, pressure vessels, and compressor covers. The utilization of hydraulic bolting tool solves the problem of non-uniform jointing of high-pressure installations. It is preferred over other types, as it guarantees uniform bolt tightening and stud loading in many industries. The use of hydraulic bolting can save the time required for the overall jointing and repair project. The use of hydraulic bolting tool user can save up to 50% time required for tightening the bolts.
Pneumatic Bolting Tools
A pneumatic bolting tool is a gearbox or planetary torque multiplier that is connected to a pneumatic air motor and has high reduction ratio. It is utilized to absorb the torque, which is altered by managing the air pressure, to enable the tool operator to utilize it with little effort. Pneumatic bolting tools are compact, convenient, accurate, and easy to use. They also cut the overall operation time and ensure safe operations. These tools are durable enough to adhere to harsh on- site conditions, majorly in power generation, oil & gas, and mining industries. Pneumatic bolting tools offer consistent high speed rotations for continuous torque output during high torque bolting applications. Pneumatic bolting tools also offer a safe work environment and leak-free installation as they decrease spills and leaks from the flanges.
Market Scenario for Bolting Tools
According to a detailed report published by Growth Market Reports (GMR), Egypt bolting tools market was valued at USD 101.4 million in 2019 and is projected to reach USD 121.9 million by 2027, expanding at a CAGR of 2.9% during the forecast period, 2020-2027.
The market is driven by factors such as growing demand for saving time and improving accuracy and efficiency, growing industrial activities, rising construction and infrastructure activities, increasing utilization of bolting tools in the automotive industry. However, high costs of advanced bolting tools and lack of awareness among user is hindering market growth. Growth in the E-commerce industry and increasing investment in research and development (R&D) are projected to foster lucrative opportunities for the market in the future. Moreover, the market is expected to face challenges by the high competition in the market and due to regulatory compliance and bolting tools safety norms.
- On the basis of types, the Egypt bolting tools market is segmented into mechanical, hydraulic, pneumatic, and electric. The pneumatic bolting tool is projected to expand at a CAGR of 3.2% during the forecast period owing to the fact that these tools are durable enough to withstand harsh on-site conditions in mining, oil & gas and power generation industries. The electric segment is estimated to account for a substantial share of the market in 2020, attributing to its features such as compactness, accuracy, less noise, higher torque values, and quality assurance.
- Based on applications, the market is fragmented into oil & gas, mining, construction, power, and others. Oil & gas is projected to be an attractive segment during the forecast period. It accounted for market share of 21.8% in 2019. The oil & gas segment is estimated to expand at a substantial CAGR attributing to the rising need for proper bolting tools in harsh working environment such as oil rigs and refinery.
The coronavirus pandemic has led to havoc across the globe. It had pressurized the manufacturing industry to come at a halt. However, the market is slowly recovering. Manufacturers are including technologies to make the overall system less dependent on humans. Besides this, the industries are seeking for local players to meet their requirements.
Impact of COVID-19 on the market
The outlook of impact can be divided under the following possible scenarios:
- According to the optimistic scenario, the global Egypt bolting tools shop market is anticipated to remain under the massive impact of COVID-19 in the first quarter of 2020, and from the second quarter, the demand is expected to rise.
- Under the probabilistic scenario, the market is expected to remain under the strong influence of the crisis until the second quarter, and from the third quarter onwards, the situation will alleviate.
Competitive Landscape and Development
Prominent players in the market include Sandvik AB, SPX Flow, Nord-Lock International AB, Atlas Copco AB, HTL Worldwide, and Stanley Black & Decker, Inc.
The prominent players in the market are utilizing strategies such as product launches, mergers & acquisitions, and contracts & collaborations. These strategies are expected to deliver effective goods and high-performance goods, supporting market laws, and better client satisfaction.
- Companies operating in the market are extensively investing in research and development to develop new and innovative techniques to manufacture pneumatic bolting tools.
- Manufacturers are also aiming at providing highly efficient and reliable pneumatic bolting tools having advanced features to make them user friendly, and provide fast, accurate, and safe torqueing applications.
- The pneumatic bolting tools market is extremely fragmented with the presence of several manufacturers in developed and developing regions. Furthermore, manufacturers are striving to gain competitive edge through increased product differentiation across the world.
- In March 2020, Hilti Corporation expanded its ‘Smart’ product offering by acquiring the assets of concrete technology startup. This amplified the efficiency for end-to-end connected jobsites.
- In 2019, Sandvik completed the acquisition of Artisan. The latter company will be a business unit in the Load and Haul division within Sandvik Mining and Rock Technology.
- On April 2019, ENERPAC declared a merger with engineering specialist Hydratight. The merger helped the company to amplify its developments, rental and related services, and to offer customers with effective solutions.