Fastening Power Tools Market
Fastening Power Tools Market Forecasts to 2030 - Global Analysis By Product Type (Corded Power Tools, Cordless Power Tools, Pneumatic Power Tools, Hydraulic Power Tools, Powder-Actuated Tools and Other Product Types), Power Source, Battery, Technology, Application, End User and By Geography
According to Stratistics MRC, the Global Fastening Power Tools Market is accounted for $2.8 billion in 2024 and is expected to reach $4.6 billion by 2030 growing at a CAGR of 8.9% during the forecast period. Fastening power tools are specialized tools designed to securely join or affix materials together using fasteners like screws, bolts, nails, or staples. These tools are powered by various energy sources, including electricity, batteries, or compressed air, enabling more efficient and consistent fastening compared to manual methods. These tools significantly improve productivity and reduce the physical strain on workers by automating the fastening process. They also ensure consistent torque application, which is crucial for the integrity and safety of the assembled products
According to Association of Equipment Manufacturers (AEM) data 2022, the semiconductor industry accounted for approximately 20% market share in terms of unit sales showing growth of approximately 15% from 2022.
Market Dynamics:
Driver:
Growing demand from the construction industry
The global construction industry, especially in emerging economies, is experiencing a surge in demand for fastening tools due to the increasing construction of residential and commercial projects. These tools are crucial for securing elements and facilitating faster assembly processes. The growth of infrastructure projects, such as roads and bridges, further increases the demand for fastening power tools, which are essential for large-scale construction projects.
Restraint:
High maintenance costs
The cost of owning fastening power tools increases due to maintenance and repair requirements, as components like motors and batteries wear out over time. This can be a significant expense for both consumers and businesses. In developing countries, consumers may be reluctant to invest in maintenance due to the availability of low-cost manual labor, opting for manual alternatives instead.
Opportunity:
Notable increase in do-it-yourself (DIY) activities
The rise in DIY projects has led to a surge in the demand for fastening power tools, as homeowners and hobbyists seek efficient solutions for tasks like furniture assembly and home renovations. Manufacturers are expanding their product offerings to include a wider variety of user-friendly, lightweight, and cordless fastening tools, capturing a larger market segment and encouraging more consumers to undertake DIY projects.
Threat:
Competition from low-cost alternatives
Low-cost alternatives in fastening power tools create significant price pressure on established brands, forcing them to lower prices to remain competitive. This can lead to a race to the bottom, compromised quality, and a decline in market share for premium products. Consumers in price-sensitive markets may prioritize affordability over quality, resulting in decreased sales for manufacturers focusing on high-quality, innovative products.
Covid-19 Impact:
The COVID-19 pandemic significantly impacted the fastening power tools market. Initially, the market experienced a slowdown due to supply chain disruptions, labor shortages, and economic uncertainties. However, as construction activities resumed and industries adapted, the market rebounded. The pandemic accelerated the shift towards e-commerce, with consumers increasingly purchasing power tools online for home improvement projects.
The pneumatic power tools segment is expected to be the largest during the forecast period
The pneumatic power tools is expected to be the largest during the forecast period as they are widely used in construction, manufacturing, automotive, and aerospace industries due to increasing demand driven by industrial automation, infrastructure development, and automotive growth. They offer advantages over electric tools like higher power-to-weight ratios, faster speeds, and precise control, enhancing productivity and efficiency in assembly and manufacturing processes.
The brushless motor technology segment is expected to have the highest CAGR during the forecast period
The brushless motor technology segment is expected to have the highest CAGR during the forecast period because these tools deliver more efficient power, resulting in more powerful and longer-lasting tools. The elimination of brushes reduces friction and heat generation, enhancing performance. Brushless motors require minimal maintenance, making them more attractive to consumers. The smaller size and lighter weight of brushless motors have led to more compact and manoeuvrable cordless fastening power tools.
Region with largest share:
North America is projected to hold the largest market share during the forecast period owing to the U.S.'s construction and infrastructure development sector is driving the demand for fastening power tools, driven by the growth of residential, commercial, and public projects and the increasing DIY home improvement trend among consumers, thereby boosting market growth.
Region with highest CAGR:
Asia Pacific is projected to hold the highest CAGR over the forecast period due to technological advancements like brushless motor technology and improved battery capabilities are making fastening power tools more efficient and appealing to professionals and DIY enthusiasts. The automotive industry, particularly in Japan, is growing, with the shift towards electric vehicles and advanced manufacturing techniques likely to increase demand for specialized tools.
Key players in the market
Some of the key players in Fastening Power Tools market include AIMCO , Atlas Copco, C & E Fein Gmgh, Dewalt, Hilti Corporation, Hitachi Koki Co Ltd, KOKI Holdings, Makita Corporation, Robert Bosch GmbH, Sumake Industrial Co. Ltd., Techtronic Industries Co. Ltd., Wacker Neuson SE and Xindalu Electronic Technology Co Ltd
Key Developments:
In August 2024, Integrated Pump Rental (“IPR”), a specialty rental provider of dewatering solutions in South-Africa, will become part of Atlas Copco Group. The company provides fully outsourced dewatering solutions through rental of pump and ancillary equipment.
Product Types Covered:
• Corded Power Tools
• Cordless Power Tools
• Pneumatic Power Tools
• Hydraulic Power Tools
• Powder-Actuated Tools
• Other Product Types
Power Sources Covered:
• Cordless
• Corded
Batteries Covered:
• Lithium-Ion (Li-ion)
• Nickel-Cadmium (NiCd)
• Nickel-Metal Hydride (NiMH)
• Graphene-Based Batteries
• Rapid Charging Systems
• Other Batteries
Technologies Covered:
• Brushed Motor Technology
• Brushless Motor Technology
• Variable Speed Technology
• Pneumatic Technology
• Hydraulic Technology
• Other Technologies
Applications Covered:
• Framing & Roofing
• Drywall Installation & Concrete Fastening
• Vehicle Assembly & Tire Installation
• Automotive Repair & Maintenance
• Woodworking
• Heavy Equipment Manufacturing
• Sealing
• Other Applications
End Users Covered:
• Construction
• Automotive
• Aerospace
• Electronics
• Packaging
• Furniture Manufacturing
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 Technology Analysis
3.8 Application Analysis
3.9 End User Analysis
3.10 Emerging Markets
3.11 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Fastening Power Tools Market, By Product Type
5.1 Introduction
5.2 Corded Power Tools
5.2.1 Electric Screwdrivers
5.2.2 Corded Impact Drivers
5.2.3 Corded Nailers
5.2.4 Corded Staplers
5.3 Cordless Power Tools
5.4 Pneumatic Power Tools
5.5 Hydraulic Power Tools
5.6 Powder-Actuated Tools
5.7 Other Product Types
6 Global Fastening Power Tools Market, By Power Source
6.1 Introduction
6.2 Cordless
6.3 Corded
7 Global Fastening Power Tools Market, By Battery
7.1 Introduction
7.2 Lithium-Ion (Li-ion)
7.3 Nickel-Cadmium (NiCd)
7.4 Nickel-Metal Hydride (NiMH)
7.5 Graphene-Based Batteries
7.6 Rapid Charging Systems
7.7 Other Batteries
8 Global Fastening Power Tools Market, By Technology
8.1 Introduction
8.2 Brushed Motor Technology
8.3 Brushless Motor Technology
8.4 Variable Speed Technology
8.5 Pneumatic Technology
8.6 Hydraulic Technology
8.7 Other Technologies
9 Global Fastening Power Tools Market, By Application
9.1 Introduction
9.2 Framing & Roofing
9.3 Drywall Installation & Concrete Fastening
9.4 Vehicle Assembly & Tire Installation
9.5 Automotive Repair & Maintenance
9.6 Woodworking
9.7 Heavy Equipment Manufacturing
9.8 Sealing
9.9 Other Applications
10 Global Fastening Power Tools Market, By End User
10.1 Introduction
10.2 Construction
10.3 Automotive
10.4 Aerospace
10.5 Electronics
10.6 Packaging
10.7 Furniture Manufacturing
10.8 Other End Users
11 Global Fastening Power Tools Market, By Geography
11.1 Introduction
11.2 North America
11.2.1 US
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 Italy
11.3.4 France
11.3.5 Spain
11.3.6 Rest of Europe
11.4 Asia Pacific
11.4.1 Japan
11.4.2 China
11.4.3 India
11.4.4 Australia
11.4.5 New Zealand
11.4.6 South Korea
11.4.7 Rest of Asia Pacific
11.5 South America
11.5.1 Argentina
11.5.2 Brazil
11.5.3 Chile
11.5.4 Rest of South America
11.6 Middle East & Africa
11.6.1 Saudi Arabia
11.6.2 UAE
11.6.3 Qatar
11.6.4 South Africa
11.6.5 Rest of Middle East & Africa
12 Key Developments
12.1 Agreements, Partnerships, Collaborations and Joint Ventures
12.2 Acquisitions & Mergers
12.3 New Product Launch
12.4 Expansions
12.5 Other Key Strategies
13 Company Profiling
13.1 AIMCO
13.2 Atlas Copco
13.3 C & E Fein Gmgh
13.4 Dewalt
13.5 Hilti Corporation
13.6 Hitachi Koki Co Ltd
13.7 KOKI Holdings
13.8 Makita Corporation
13.9 Robert Bosch GmbH
13.10 Sumake Industrial Co. Ltd.
13.11 Techtronic Industries Co. Ltd.
13.12 Wacker Neuson SE
13.13 Xindalu Electronic Technology Co Ltd
List of Tables
1 Global Fastening Power Tools Market Outlook, By Region (2022-2030) ($MN)
2 Global Fastening Power Tools Market Outlook, By Product Type (2022-2030) ($MN)
3 Global Fastening Power Tools Market Outlook, By Corded Power Tools (2022-2030) ($MN)
4 Global Fastening Power Tools Market Outlook, By Electric Screwdrivers (2022-2030) ($MN)
5 Global Fastening Power Tools Market Outlook, By Corded Impact Drivers (2022-2030) ($MN)
6 Global Fastening Power Tools Market Outlook, By Corded Nailers (2022-2030) ($MN)
7 Global Fastening Power Tools Market Outlook, By Corded Staplers (2022-2030) ($MN)
8 Global Fastening Power Tools Market Outlook, By Cordless Power Tools (2022-2030) ($MN)
9 Global Fastening Power Tools Market Outlook, By Pneumatic Power Tools (2022-2030) ($MN)
10 Global Fastening Power Tools Market Outlook, By Hydraulic Power Tools (2022-2030) ($MN)
11 Global Fastening Power Tools Market Outlook, By Powder-Actuated Tools (2022-2030) ($MN)
12 Global Fastening Power Tools Market Outlook, By Other Product Types (2022-2030) ($MN)
13 Global Fastening Power Tools Market Outlook, By Power Source (2022-2030) ($MN)
14 Global Fastening Power Tools Market Outlook, By Cordless (2022-2030) ($MN)
15 Global Fastening Power Tools Market Outlook, By Corded (2022-2030) ($MN)
16 Global Fastening Power Tools Market Outlook, By Battery (2022-2030) ($MN)
17 Global Fastening Power Tools Market Outlook, By Lithium-Ion (Li-ion) (2022-2030) ($MN)
18 Global Fastening Power Tools Market Outlook, By Nickel-Cadmium (NiCd) (2022-2030) ($MN)
19 Global Fastening Power Tools Market Outlook, By Nickel-Metal Hydride (NiMH) (2022-2030) ($MN)
20 Global Fastening Power Tools Market Outlook, By Graphene-Based Batteries (2022-2030) ($MN)
21 Global Fastening Power Tools Market Outlook, By Rapid Charging Systems (2022-2030) ($MN)
22 Global Fastening Power Tools Market Outlook, By Other Batteries (2022-2030) ($MN)
23 Global Fastening Power Tools Market Outlook, By Technology (2022-2030) ($MN)
24 Global Fastening Power Tools Market Outlook, By Brushed Motor Technology (2022-2030) ($MN)
25 Global Fastening Power Tools Market Outlook, By Brushless Motor Technology (2022-2030) ($MN)
26 Global Fastening Power Tools Market Outlook, By Variable Speed Technology (2022-2030) ($MN)
27 Global Fastening Power Tools Market Outlook, By Pneumatic Technology (2022-2030) ($MN)
28 Global Fastening Power Tools Market Outlook, By Hydraulic Technology (2022-2030) ($MN)
29 Global Fastening Power Tools Market Outlook, By Other Technologies (2022-2030) ($MN)
30 Global Fastening Power Tools Market Outlook, By Application (2022-2030) ($MN)
31 Global Fastening Power Tools Market Outlook, By Framing & Roofing (2022-2030) ($MN)
32 Global Fastening Power Tools Market Outlook, By Drywall Installation & Concrete Fastening (2022-2030) ($MN)
33 Global Fastening Power Tools Market Outlook, By Vehicle Assembly & Tire Installation (2022-2030) ($MN)
34 Global Fastening Power Tools Market Outlook, By Automotive Repair & Maintenance (2022-2030) ($MN)
35 Global Fastening Power Tools Market Outlook, By Woodworking (2022-2030) ($MN)
36 Global Fastening Power Tools Market Outlook, By Heavy Equipment Manufacturing (2022-2030) ($MN)
37 Global Fastening Power Tools Market Outlook, By Sealing (2022-2030) ($MN)
38 Global Fastening Power Tools Market Outlook, By Other Applications (2022-2030) ($MN)
39 Global Fastening Power Tools Market Outlook, By End User (2022-2030) ($MN)
40 Global Fastening Power Tools Market Outlook, By Construction (2022-2030) ($MN)
41 Global Fastening Power Tools Market Outlook, By Automotive (2022-2030) ($MN)
42 Global Fastening Power Tools Market Outlook, By Aerospace (2022-2030) ($MN)
43 Global Fastening Power Tools Market Outlook, By Electronics (2022-2030) ($MN)
44 Global Fastening Power Tools Market Outlook, By Packaging (2022-2030) ($MN)
45 Global Fastening Power Tools Market Outlook, By Furniture Manufacturing (2022-2030) ($MN)
46 Global Fastening Power Tools Market Outlook, By Other End Users (2022-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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