Crimping Tools Market: Global Demand, Growth Potential & Opportunity Outlook 202

Posted by surendra choudhary on May 17th, 2019

Major players operating in the global crimping tools market include Klauke Group, Manuli Hydraulics France SAS, Derancourt, N.KO spol. s r.o., Komax AG, IPR – Intelligente Peripherien Für Roboter GmbH, TE Connectivity Ltd., Carl Kammerling International Ltd., TEN Group, Daniels Manufacturing Corporation, Intercable GmbH, and SICAME group.

Crimping tools are a mechanical device used to conjoin two pieces of metallic material by deforming them as a single piece in a way that led to hold each other. Crimping tools help to cut, strip, bend, and insulate wire in a snap. These tools are majorly used as hand tools for manufacturing products, and in construction and renovation activities. Rise in the usage of crimping tools for maintenance purposes in manufacturing plants and industries is expected to fuel the market in the coming years. Growth in adoption of crimping tools as a professional hand tool kit among industrial professionals is expected to lead to demand from the industrial segment. In addition, rising interest among end-users for “Do it yourself” (DIY) and residential repair activities has made the usage of crimping tools highly popular. Increasing usage of crimping tools across the globe is expected to fuel the sales of the product in the near future.

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Major drivers of the global crimping tools market include increase in the number of manufacturers across multiple industry verticals, increase in disposable income, and penetration of advanced products, increasing consumer spending.. Additionally, rising influence of the product in manufacturing operations for better productivity, and the ability to perform multiple tasks are expected to propel the market during the forecast period. However, the increase in labor cost while using crimping tools is the major restraint of the market. Development of new and innovative products, targeting new manufacturers, and penetration of products through e-commerce are expected to create significant opportunities for the market.

The global crimping tools market can be segmented based on type, product, material, application, distribution channel, and region. In terms of type, the crimping tools market can be bifurcated into manual crimpers, hydraulic crimpers, pneumatic crimpers, electrical crimpers, hammer crimpers, and others. Based on product, the crimping tools market is segregated into round nose, flat nose, long nose, mini pliers, locking pliers, slip joint pliers, diagonal pliers, and combination pliers. Based on material, the market is segregated into stainless steel, chrome vanadium, and others. Based on application, the crimping tools market can be segregated into crimping, multi-functional, wire stripper, and cutting. In terms of distribution channel, the crimping tools market can be classified into online and offline. The online segment can be sub-segmented into company websites, multi-brand e-commerce sites, and others.

Based on region, the global crimping tools market can be split into North America, Europe, Asia Pacific, Middle East & Africa, and South America. Demand for crimping tools is increasing in North America due to the rising automobile repair and maintenance sector. Large presence of manufacturing industry across Europe is propelling the demand for crimping tools in the region. Rapid growth in adoption of professional hand tool kits across the Asia Pacific are emphasizing for usage of crimping tools. This is expected to fuel the market in Asia Pacific. Furthermore, end-users are opting for crimping tools for better operation and productivity. In Middle East & Africa, gradual rise in sectors such as machine tools & parts manufacturing, petroleum, and automotive along with developing economies of African countries are expected to boost the sales of crimping tools across the region in the next few years. Similarly, South America is also expected to drive the crimping tools market during the forecast period.