Fastening Power Tools Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

MARKET INTRODUCTION

Fastening power tools are simply tools that help you apply fasteners, such as nail gun, rotary tool, cordless drill, electric screwdriver, and jigsaw. Fastening power tools are widely used to manufacture and assemble automobiles. Globally, the automotive industry has been enjoying a period of relatively strong growth and profits, which has fuelled the demand for fastening power tools. Improving economic conditions in emerging markets as well as rapid urbanization have boosted the sales of automobiles.

MARKET DYNAMICS

Growth in the demand for consumer electronics with added functionality, higher performance, and longer operating times are driving the growth of the fastening power tools market. However, the fluctuations in raw material prices may restrain the growth of the fastening power tools market. Furthermore, the rising demand for fastening tools in wind energy industry are anticipated to create a market opportunity for the fastening power tools market during the forecast period.

MARKET SCOPE

The "Global Fastening Power Tools Market Analysis To 2031" is a specialized and in-depth study of the manufacturing and construction industry with a special focus on the global market trend analysis. The fastening power tools market report aims to provide an overview of the fastening power tools market with detailed market segmentation by product type, technology, application, and geography. The global fastening power tools market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading fastening power tools market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

The global fastening power tools market is segmented on the basis of product type, technology, and application. Based on product type, the fastening power tools market is segmented into: nail gun, rotary tool, cordless drill, electric screwdriver, jigsaw, and others. On the basis of technology, the fastening power tools market is segmented into: electric, corded, cordless, hydraulic, hybrid, and others. Based on application, the fastening power tools market is segmented into: manufacturing and construction, aerospace and defense, automotive, others.

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global fastening power tools market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The fastening power tools market by each region is later sub-segmented by respective countries and segments. The fastening power tools market report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting the fastening power tools market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis highlighting factors affecting the fastening power tools market in these regions.

IMPACT OF COVID-19 ON FASTENING POWER TOOLS MARKET

COVID-19 has severely impacted the global economy and all the industries throughout the globe. Governments of various countries have imposed lockdowns to contain the spread of the epidemic. The complete global lockdown in the initial stage of the pandemic in various countries severely impacted the livelihoods of people and quality of life. This has resulted into disruptions in the supply chain across the globe. The economies across the world have declined as there is a major decline in the demand for products. The production of fastening power tools has been limited due to the pandemic resulting in the shortage of raw material, decline in exports, and disruptions in supply chain. Along with industrial disruptions, the commercial, construction, and infrastructure projects across the world were either cancelled or put on hold owing to the lockdown impositions. Thus, the fastening power tools market is getting affected by COVID-19. This has resulted in a lower estimated year-on-year growth rate for 2021. On the contrary, the government is lifting lockdowns in all the countries, which is projected to positively impact the production and development of fastening power tools in 2021.

MARKET PLAYERS

The reports cover key developments in the fastening power tools market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players from fastening power tools market are anticipated to lucrative growth opportunities in the future with the rising demand for filter products in the global market. Below mentioned is the list of few companies engaged in the fastening power tools market.

The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the fastening power tools market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.

•   C. and E. Fein GmbH
•   DeWalt Industrial Tool Company
•   Hilti Corporation
•   Hitachi Koki Co.
•   Makita Corporation
•   MAX Co., Ltd.
•   Sumake Industrial Co.
•   Techtronic Industries Co. Ltd.
•   Wacker Neuson SE
•   Xindalu Electronic Technology Co., Ltd.

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Fastening Power Tools Report Scope