Egypt Bolting Tools Market By Type (Electric, Pneumatic, Hydraulic and Mechanical), By Application (Oil & Gas, Mining, Construction, Power, and Others)

Market Outlook:

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.

Market Dynamics

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.

Segmental Outlook

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.

Market Trend

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.

Definitions

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.

By Application

Market Trend:

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.

Definition

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.