Global Nutrunners Market (2021 to 2030) – by Type, Distribution Channel, End User Sector and Region – ResearchAndMarkets.com

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DUBLIN–(BUSINESS WIRE)–The “Nuts Market by Type, Distribution Channel and End User Industry: Global Opportunities Analysis and Industry Forecast, 2021-2030” report has been added to from ResearchAndMarkets.com offer.

According to Verified Market Research, Global Nutrunners Market was valued at USD 789.4 Million in 2020 and is projected to reach USD 1,168.5 Million by 2030, registering a CAGR of 4.1% from 2021 to 2030.

A nutrunner is needed when fastening and loosening screws or nuts and bolts is essential. It allows the operator to measure the torque applied to the fastener to adapt it to the specifications of an application. A reaction device is fitted on the outside of the gearbox and is designed to absorb torque and allow the user of the tool to operate it with minimum effort. The output torque is adjusted by controlling the air pressure. Electric, pneumatic and hydraulic bolting tools are used when precise torque is required to tighten a nut and bolt or when the nut needs to be removed or replaced.

Rising construction applications such as fixing doors and windows and installing solar panels are driving the growth of the market. Also, the increase in industrial applications such as engineering and machinery manufacturing propels the growth of the market. Also, various governments are focusing on strengthening their defense unit by manufacturing advanced naval aircraft and ships, which will create a demand for the bolting tools. Due to these factors, the nutrunner market will grow at a notable rate over the forecast period.

Wrenches are used when assembling airplanes and ships. They are necessary for fastening and tightening automotive parts with nuts and bolts. Therefore, the expansion of the automotive sector is expected to provide lucrative growth opportunities for the growth of the market. For example, in December 2020, the US government contributed $27 billion to the shipbuilding budget for 2022 and $28.5 billion for 2023. Additionally, the Naval Sea Systems Command says that by the end of 2021, the US Navy will have commissioned seven ships. Accordingly, bolting tools will be required for the manufacture of the ship and the assembly of its part. These factors are expected to fuel the expansion of the market over the forecast period.

The global screwdriver market is segmented on the basis of type, distribution channel, end-user industry, and region. On the basis of type, the market is divided into electric nutrunner, pneumatic nutrunner and hydraulic nutrunner. Based on distribution channel, it is categorized into in-store and online. According to the end user industry, it is fragmented into construction, industrial, automotive and others. Regionally, market analysis is conducted in North America (United States, Canada and Mexico), Europe (United Kingdom, France, Germany, Italy and Rest of Europe), Asia-Pacific ( China, Japan, India, South Korea, and Rest of Asia-Pacific) and LAMEA (Latin America, Middle East and Africa).

Key Benefits

  • The report provides an in-depth analysis of current and emerging Wrench market trends and dynamics.

  • In-depth market analysis is performed by constructing market estimates for key market segments between 2020 and 2030.

  • An in-depth analysis of the Wrenches market is performed by tracking key product positioning and monitoring key competitors within the scope of the market.

  • A comprehensive analysis of all regions is provided to determine the prevailing opportunities.

  • The forecast analysis of the global nutrunner market from 2020 to 2030 is included in the report.

  • Key market players of the Wrenches market are profiled in this report and their strategies are thoroughly analyzed which helps to understand the competitive outlook of the Wrenches industry.

Market segments

By type

  • Electric screwdriver

  • Pneumatic screwdriver

  • Hydraulic screwdriver

By distribution channel

By End User Industry

  • Construction

  • Industrial

  • Automotive

  • Others

By region

  • North America

  • we

  • Canada

  • Mexico

  • Europe

  • Germany

  • France

  • UK

  • Italy

  • The rest of Europe

  • Asia Pacific

  • China

  • India

  • Japan

  • South Korea

  • Rest of Asia-Pacific

  • LAMEA

  • Latin America

  • Middle East

  • Africa

Key players

  • Aimco Global

  • Atlas Copco AB

  • Bosch Rexroth AG

  • Dai-Ichi Dentsu Ltd

  • Estic Corporation

  • Ingersoll Rand Inc.

  • ITH bolting technology

  • Maschinenfabrik Wagner GmbH & Co. AG

  • Sanyo Machine Works Ltd.

  • Stanley Engineering Fastener

For more information on this report, visit https://www.researchandmarkets.com/r/tkt519

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