April 20, 2024
Clamps Market

The Growing Role of Clamps in Manufacturing Industries is Driving the Global Clamps Market

Clamps are mechanical devices used to firmly and securely hold or fasten objects together to prevent movement or separation through tightening. They are widely used across diverse manufacturing industries including automotive, construction, shipbuilding, transportation, aerospace and others. Clamps find crucial applications in assembly and joining processes where they help secure workpieces accurately during drilling, welding, cutting and fabrication activities. They help complete precision operations by immobilizing parts and facilitating easy handling. Various types of clamps like C-clamps, bar clamps, G-clamps, pinch clamps and others offer versatile solutions depending on the application need. With growing manufacturing volumes globally in industries that require precision assembly, joining or fabrication, demand for clamps has increased substantially.

The global clamps market is estimated to be valued at US$ 5.2 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:

One of the key trends driving the clamps market is the rapid digitalization and automation of manufacturing processes. Adoption of robotics, computer numerical control (CNC) machines and 3D printing is growing across industries which has augmented the use of precise clamps in assembly lines. Advanced clamps help robots and computer controlled equipment seamlessly complete complex assembly tasks with high precision. Similarly, tools like 3D printers require sophisticated clamps to securely hold parts during multi-step additive manufacturing runs. This transition towards ‘Industry 4.0’ standards of manufacturing is fueling innovations in clamps designed for automated workflows. Another notable trend is the increasing popularity of ‘no-marring’ or non-abrasive clamps. These clamps do not leave any indentation or surface damage marks on delicate or soft materials like plastics, composites, thin metal sheets etc. which have widespread applications. This factor is boosting the sales of no-marring clamps across low-impact clamping applications.

Porter’s Analysis

Threat of new entrants: The threat of new entrants in the clamps market is moderate as setting up a new business requires significant investment and the market is fragmented with presence of several established players.

Bargaining power of buyers: The bargaining power of buyers in the clamps market is high as clamps are basic tools and buyers can easily switch between different brands.

Bargaining power of suppliers: The bargaining power of suppliers in the clamps market is moderate as there are many suppliers of raw materials providing opportunities for buyers to look for alternatives.

Threat of new substitutes: The threat of substitutes in the clamps market is low as clamps have no close substitute and perform an important joining and holding function.

Competitive rivalry: The competitive rivalry in the clamps market is high due to presence of many domestic and international players competing on pricing and quality.

Key Takeaways

The Global Clamps Market Size is expected to witness high growth over the forecast period of 2024 to 2031.

Regional analysis: North America is projected to lead the global clamps market during the forecast period. This is attributed to growing manufacturing activities along with stable industrial sector in the US and Canada. The automotive industry in the region significantly contributes to the demand for clamps.

Key players operating in the clamps market are Beam Clamps, Bessey, CMC Clamps, DeWALT, Enerpac, Greyhaven, Ideal-grip, Kukamet, Mikalor, Omega Engineering and Panduit.

*Note:
1.      Source: Coherent Market Insights, Public sources, Desk research
2.      We have leveraged AI tools to mine information and compile it