Egypt Bolting Tools Market – Industry Analysis, Size, Share, Growth, Trends and Forecast
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.
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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.
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