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. Bolting tools are equipment used to tighten these bolts with little effort. Bolting tools are compact, easy to use, convenient, and accurate. The demand for bolting tools is increasing the market due to the rise in automation in the industries.
The market is driven by factors such as rising demand for saving time and improving accuracy and efficiency, growing industrial activities, increasing construction and infrastructure activities, rising use of bolting tools in the automotive industry. Conversely, high costs of advanced bolting tools and lack of awareness among user is hampering market growth. Growth in the E-commerce industry and rising investment in research and development (R&D) are expected to create opportunities for the market in the future. Furthermore, the market is anticipated 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 divided into mechanical, hydraulic, pneumatic, and electric. The pneumatic bolting tool is anticipated to expand at a CAGR of 3.2% during the forecast period, as 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 hold 39.7% share of the market in 2020, owing to its features such as compactness, accuracy, less noise, higher torque values, and quality assurance.
Based on applications, the market is segmented 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 expected to grow owing to need for proper bolting tools in harsh working environment such as oil rigs and refinery.
Based of types, the bolting tools market is segmented into mechanical, hydraulic, pneumatic, and electric. The pneumatic segment accounts for a major share of the market; however, the electric segment is anticipated to expand at a substantial CAGR during the forecast period. The pneumatic bolting tools is projected to expand at considerable CAGR. Pneumatic bolting tools are durable enough to withstand harsh on-site conditions mainly in mining, oil & gas, and power generation industries. Furthermore, the demand for pneumatic bolting tools is increasing, as oil prices are stabilizing and the oil & gas industry is projected to grow at a stable pace in the next few years. Rise of advanced bolting tool technology in the country for connecting bolts with the use of pneumatic bolting tools has significantly decreased the number of workplace accidents and has increased accuracy and efficiency of fitting. This, in turn, is an important factor driving the pneumatic bolting tool segment. The electric bolting tool segment holds majority of the market share owing to its features such as compactness, accuracy, less noise, higher torque values, and quality assurance; therefore, the demand for electric bolting tools is high in the construction industry.
Electric: Electric bolting tools have an accuracy of +/- 5% and it can be accessed anywhere, as they are cordless and do not require any hoses of power or extension of power for operation. A high range of electric bolting tools offers several 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 portable and convenience in industrial bolting. They are faster, safer, and more accurate than other types of bolting tools in the market.
Hydraulic: 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 use of hydraulic bolt solves the problem of non-uniform jointing of high-pressure installations. The use of hydraulic bolts is recommended, as it guarantees uniform bolt tightening and stud loading in various industries. The use of hydraulic bolting can save the time required for the overall jointing and repair project. The use hydraulic bolting tool user can save up to 50% time required for tightening the bolts.
On the basis of applications, the bolting tools market is divided into oil & gas, mining, construction, power, and others. The oil & gas segment accounts for a major share of the market; however, the oil & gas segment is anticipated to expand at a substantial CAGR during the forecast period. The oil & gas segment is projected to expand at significant CAGR owing to proper bolting is required in oil & gas companies to reduce risks. Moreover, it is projected that the demand for energy in Egypt can increase due growing population. Thus, it is expected to fuel the demand of bolting tools in the oil & gas segment. The construction segment holds the major share in the market due to the growth in population in urban areas of Egypt. Increase in the construction of houses and commercial spaces in urban area fuels the segment growth. Moreover, rising safety norms for workers at construction sites has increased the use of bolting tools in the construction industry.
Oil & Gas: The oil & gas industry has played an important role in providing power to the world in the past decades. These industries require tools that both durable and precise. Bolting tools are used in oil fields, transportation machine, and refineries. These tools are used in many areas of the oil & gas industry, such as pumping stations, pipeline transportation, compressor stations, and refineries. Hydraulic bolting tools used in this industry are precise and accurate ranges from +/- 3%. Moreover, in oil & gas refineries, bolting tools are used in loosening and tensioning bolts on heat exchangers, valves, steam pipe flanges, pressure pipe flanges, reactor covers, and reactor pressure vessels.
Key players in the Egypt bolting tools include Sandvik AB, SPX Flow, Nord-Lock International AB, Atlas Copco AB, HTL Worldwide, and Stanley Black & Decker, Inc. These companies are considered as key manufacturers of bolting tools, based on their revenue, research & development activities, regional presence, and supply chain management system.
The players are adopting key strategies such as acquisition, and geographical expansion where potential opportunity for the Egypt bolting tools extraction is added in the company’s capacity.
For instance, in March 2020, Hilti Corporation expanded its ‘Smart’ product offering by acquiring the assets of concrete technology startup. This builds on the efficiency promise for end-to-end connected jobsites.
In 2019, Sandvik completed the acquisition of Artisan. Artisan will be a business unit in the Load and Haul division within Sandvik Mining and Rock Technology.
On April 2019, ENERPAC announced merger with engineering specialist Hydratight. The merger helped the company increase developments, rental and related services, and to provide customers with effective solutions.
In-depth Analysis of the Egypt bolting tools Market
Historical, Current and Projected Market Size in terms of Value
Potential & Niche Segments and Regions Exhibiting Promising Growth Covered
Industry Drivers, Restraints and Opportunities Covered in the Study
Recent Industry Trends and Developments
Competitive Landscape & Strategies of Key Players
Neutral Perspective on Egypt bolting tools Market Performance
Some frequently asked quetions about this report!
Additional company profiles can be provided on request.
Yes, the report covers product specific information such as composition development etc.
According to this Growth Market Reports report, the market from Egypt bolting tools is likely to register a CAGR of 2.9% during forecast period 2020-2027, with an anticipated to reach USD 121.9 million by the end of the 2027.
In addition Pricing Analysis and Company Market Share (in % for base year 2019), Trade Scenario, CXO’s Perspective, Unit Sales & Market Share, By Company, 2015-2020, and Concentration Ratio (CR5 and HHI) for Egypt bolting tools market is available in final report.
Rising demand for saving time and improving accuracy and efficiency, increasing construction and infrastructure activities, growth in industrial activities, and rising use of bolting tools in the automotive industry is expected to boost the market.
Oil & Gas, Mining, Construction, Power, and Others are the key application that are driving the Egypt bolting tools market.
Factors such as competitive strength and market positioning are key areas considered while selecting top companies to be profiled.
The market is expected to decline in-between 2019 and 2020 owing to the adverse effect of COVID-19 pandemic. Disruptive supply chain and country lockdown conditions have forced the manufacturers for temporarily suspension of production which is resulting to declining sales.
The base year considered for the Egypt bolting tools market report is 2019. The complete analysis period is 2015 to 2027, wherein, 2015, 2016, 2017, 2018 are the historic years and the forecast is provided from 2020 to 2027.
Major manufactures include, Sandvik AB, SPX Flow, Nord-Lock International AB, Atlas Copco AB, HTL Worldwide, and Stanley Black & Decker, Inc.
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