Fastening Power Tools Market: Introduction
- The global fastening power tools market is projected to expand substantially during the forecast period owing to a large number of applications of these tools in the automotive industry. The corrugated fasteners segment is expected to hold a notable share of the global market, in terms of revenue, owing to a significantly high demand for products.
- Development of new hybrid fasteners has created new growth opportunities for the global fastening power tools market. These fasteners are comparatively lighter than the all-metal fasteners, as they are built using unconventional materials such as a combination of metal and plastic.
Key Drivers and Opportunities of the Global Fastening Power Tools Market
- Rise in investments in housing and a surge in automotive production are major drivers of the global fastening power tools market. Moreover, stringent government regulations pertaining to work safety have fueled the demand for personal protective equipment. This is estimated to propel the market during the forecast period.
- Rapid industrialization and modernization of industrial infrastructure have propelled the fastening power tools market. Moreover, an increase in production and sale of automobiles has boosted the demand for fastening power tools, thereby fueling the market. Furthermore, applications of fastening tools in the semiconductor industry to maintain a precisely controlled environment are further boosting the fastening power tools market.
- There has been significant developments in the way specific functional fasteners are manufactured. Earlier, these fasteners were permanently attached to hardware using adhesives and welding. The latest developments have enabled users to first attach these fasteners are subsequently attach them with minimal loose fasteners. This enables easy detachment of fasteners. Such developments have fueled the global fastening power tools market.
- Increasing automation in production processes restrain the market. Moreover, pricing issues may pose a challenge to the market. Nonetheless, an increase in research and development activities and development of advanced solutions at reduced prices may create significant opportunities for the global fastening power tools market.
Asia Pacific to Hold Major Share of Global Fastening Power Tools Market
- In terms of geography, the fastening power tools market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America
- Europe is expected to hold a major share of the global fastening power tools market. Stringent worker safety regulations have also propelled the market in the region. Moreover, a booming automotive sector has contributed significantly to the expansion of the market in Europe.
Key Players Operating in Global Fastening Power Tools Market
- C. & 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.
Global Fastening Power Tools Market: Research Scope
Global Fastening Power Tools Market, by Product Type
- Nail Gun
- Rotary Tool
- Cordless Drill
- Electric Screwdriver
- Others (Angle Grinder, Rebar Tier, etc.)
Global Fastening Power Tools Market, by Technology
- Others (Pneumatic, etc.)
Global Fastening Power Tools Market, by Applications
- Heavy Equipment
- Aerospace and Defense
- Others (Electricals, etc.)
Global Fastening Power Tools Market, by Distribution Channel
Global Fastening Power Tools Market, by Region
- North America
- Rest of North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
With a robust experience in creating exceptional market reports, Transparency Market Research has emerged as one of the trusted market research companies among a large number of stakeholders and CXOs. Every report at Transparency Market Research goes through rigorous research activity in every aspect. The researchers at TMR keep a close watch on the market and extract beneficial growth-boosting points. These points help the stakeholders to strategize their business plans accordingly.
TMR researchers conduct exhaustive qualitative and quantitative research. This research involves taking inputs from the experts in the market, focused attention on recent developments, and others. This method of research makes TMR stand out from other market research firms.
Here's how Transparency Market Research helps the stakeholders and CXOs through the reports:
Inculcation and Evaluation of Strategic Collaborations: The TMR researchers analyze recent strategic activities like mergers, acquisitions, partnerships, collaborations, and joint ventures. All the information is compiled and included in the report.
Perfect Market Size Estimations: The report analyzes the demographics, growth potential, and capability of the market through the forecast period. This factor leads to the estimation of the market size and also provides an outline about how the market will retrieve growth during the assessment period.
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Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.