Clamps are mechanical devices used to hold or secure objects tightly together to prevent movement or separation through squeezing. Clamps find widespread applications across various end-use industries like automotive, aerospace, construction, shipbuilding, and woodworking, among others. They provide quick and reliable fastening for a variety of materials and components. The rising industrialization and infrastructure development activities have bolstered the demand for clamps significantly over the years. The global Clamps Market is estimated to be valued at US$ 11.5 billion in 2023 and is expected to exhibit a CAGR of 4.6% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The growth of the clamps market is accelerated by rising industrialization and infrastructure development. With increasing construction of roads, bridges, dams, commercial buildings, and other civil infrastructure projects globally, the demand for clamps from the construction industry has grown substantially. Clamps are used extensively in the construction sector for temporarily or permanently holding different construction materials and components like pipes, steel bars, wooden panels, trusses, and formworks together. Moreover, growing industrial and manufacturing activities have also propelled the demand for clamps from end-use industries like automotive, machinery, shipbuilding, aerospace, and metal fabrication. Rising applications of clamps in industrial production lines, assembly processes, and material handling are some of the key factors estimated to drive the clamps market during the forecast period.
Segment Analysis
The global clamps market is segmented on the basis of product type, material type, end-use industry, and region. By product type, the toggles clamps segment dominates the market. Toggles clamps are versatile clamping devices that feature a handle that is pushed down to securely tighten the clamp. Their ease of use and ability to tightly secure a wide range of components makes them a popular choice across industries.
Key Takeaways
The Global Clamps Market Size is expected to witness high growth over the forecast period of 2024-2031.
Regional analysis: North America dominates the clamps market currently due to widespread use across industries such as automotive, industrial machinery manufacturing, and construction in the region. However, Asia Pacific is expected to witness the fastest growth during the forecast period owing to rapid industrialization and growth of the manufacturing industry in China, India, and Southeast Asian countries.
Key players: Key players operating in the clamps market are Oetiker Group, Norma Group SE, Togo Seisakusyo Corporation, Ideal Clamp Products, Inc, Yushin Precision Industrial Co.,Ltd, Kale Clamp, Topy Fasteners, Sogyo Co., Ltd., Rostislav Kovar, Mikalor Engineering Solutions.
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https://www.newsstatix.com/clamps-market-size-share-growth-outlook-2023/
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