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The Global Clamps Market Growth Accelerated By Rising Demand For End-Use Applications

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ashwinicmi
The Global Clamps Market Growth Accelerated By Rising Demand For End-Use Applications

Clamps are mechanical fastening devices used to join, hold or secure objects tightly together to prevent movement or separation through the application of inward pressure. Clamps find extensive application across various industries such as automotive, construction, aviation, energy and more. They help improve productivity by securely holding parts or workpieces in place during manufacturing, fabrication and assembly operations. The growing demand from end-use industries is driving increased adoption of clamps for applications such as equipment manufacturing and installation, mechanical assembly and fabrication works.

The global Clamps Market is estimated to be valued at US$ 205.17 Mn in 2023 and is expected to exhibit a CAGR of 7.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

The increased demand for clamps from the automotive industry is one of the key trends contributing to the market growth. Clamps are crucial for automotive assembly as they help securely hold vehicle components such as engine parts, transmission components, doors and panels during the manufacturing process. With the rising automobile production worldwide, especially in Asia Pacific, the demand for clamps is growing substantially. Furthermore, rapid industrialization and infrastructural development are fueling the construction industry, thereby driving the use of clamps for numerous construction applications like holding pipes, poles and profiles. The growth of end-use industries is expected to accelerate the demand for clamps over the forecast period.


Segment Analysis

The global clamps market is dominated by the hydraulic sub-segment, which holds around 60% share due to its affordable price range and easy maneuverability. Hydraulic clamps are used in various industrial applications such as metalworking, assembly and construction work for clamping or gripping materials together.

Key Takeaways

The Global Clamps Market Size  is expected to witness high growth over the forecast period of 2023 to 2030 owing to increasing industrialization and manufacturing activities worldwide. The global Clamps Market is estimated to be valued at US$ 205.17 Mn in 2023 and is expected to exhibit a CAGR of 7.3% over the forecast period 2023 to 2030.

Regional analysis

The Asia Pacific region currently dominates the global clamps market and is expected to grow at the fastest pace during the projected timeframe. This can be attributed to rapid urbanization and industrial development in emerging economies of China and India. China is the largest producer as well as consumer of clamps owing to presence of a strong manufacturing sector in the country.

Key players

Key players operating in the clamps market includes Covanta Energy Corporation, Veolia Environnement S.A., SUEZ, Waste Management, Inc., Hitachi Zosen Corporation, Wheelabrator Technologies Inc., Mitsubishi Heavy Industries Environmental & Chemical Engineering Co., Ltd., Xcel Energy Inc., Babcock & Wilcox Enterprises, Inc., Hitachi Zosen Inova AG, Keppel Seghers, Waste Connections, Inc., China Everbright International Limited, Amec Foster Wheeler, Plasco Conversion Technologies Inc., Constructions Industrielles de la Méditerranée (CNIM), and Foster Wheeler AG. These companies are focusing on new product launches and partnerships to gain a competitive edge in the market.


Get more insights on this topic:

https://www.marketwebjournal.com/clamps-market-market-size-and-share-analysis/

 

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