Bolting Tools Market - Egypt Industry Analysis, Size, Share, Growth and Forecast, 2019 - 2027
Posted: Feb 17, 2022
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.
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.
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.
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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.
- 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.
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