Analysts’ Viewpoint
Rise in demand from end-use industries and technological advancements are anticipated to have a profound impact on the North America assembly fastening tools market growth in the near future.
The use of assembly fastening tools in North America has seen significant growth over the years, ascribed to surge in demand for faster and more efficient assembly processes. Many manufacturers are now using automated assembly fastening tools to increase productivity and reduce labor costs. These devices are designed to provide quick and precise assembly of components while also increasing the quality of the finished product.
The trend of using assembly fastening tools in North America is expected to continue to grow as manufacturers develop new and improved tools to meet the needs of modern manufacturing.
Assembly fastening tools are essential for any manufacturing, assembly, maintenance, or repair operation. These tools are used to join two or more parts together in a secure and reliable manner, and are typically more efficient than manual methods.
The tools are used for the assembly of parts and components with the help of fasteners such as bolts, nuts, screws, and rivets, as well as to cut, shape, and form materials. Assembly fastening tools come in a variety of shapes, designs, and sizes, including manual, semi-automatic, and fully automated systems and can be used to complete a wide variety of tasks.
Assembly fastening tools are designed to reduce the amount of time and effort required to complete a task, and often come with safety features and ergonomic designs to ensure the safety of the user. These tools are essential for ensuring the quality and reliability of the products manufactured. The quality and performance of assembly fastening tools is expected to increase as technology advances.
The North America Assembly Fastening Tools Industry is expected to witness an upsurge in its growth rate in the near future, owing to the rise in demand from end-use industries.
The automotive industry in Canada is growing rapidly, with the total number of road motor vehicles registered in Canada increasing to 26.2 million in 2021, up 1.9% from 2020. Canada was the 12th largest producer of vehicles in the world in 2019 and the country is responsible for 13% of vehicle production in North America.
The manufacturing of automobiles and auto parts represents 16.8% of all manufacturing sales in Canada. Demand for assembly fastening tools is projected to increase with the growth in the automotive sector, positively impacting the North America assembly fastening tools market size.
Growth of the market is further attributed to the surge in demand for automated and user-friendly assembly fastening tools, which are capable of providing better performance. The growth in demand for light and strong fastening tools to reduce the overall weight of automotive components is expected to drive the North America assembly fastening tools market demand.
The North America fastening solutions market has witnessed significant growth due to the adoption of advance technology for assembly fastening tools.
Introduction of fastening technology in North America such as cordless tools and robotics has had a positive impact on the market. The growth in focus on safety and the environment is encouraging manufacturers to develop eco-friendly assembly fastening tools. The increase in investments in research and development activities by major market players is also a market catalyst.
Furthermore, the trend of digitization and automation has enabled the market to offer more efficient and durable assembly fastening tools. Advancements in technology have enabled the market to offer more cost-effective and efficient assembly fastening tools.
The rise in demand for lightweight and durable assembly fastening tools has further driven market progress. One of the key North America assembly fastening tools market trends is the popularity of green and sustainable products that enable the market to offer more environment-friendly assembly fastening tools.
According to the latest North America assembly fastening tools market forecast, the U.S. is expected to hold the largest share during the forecast period. Expansion strategies employed by various companies in the country is fueling the market dynamics of the region. Rise in demand for assembly fasting tools from the metal industry, which includes the production of aluminum and stainless steel, is contributing to the North America fastener tools market share.
As per the North America assembly fastening tools market analysis, demand for customized tools is driving the growth of the market in Canada, which is anticipated to expand at the fastest rate. Innovations in fastening tools for North American manufacturers are mainly focused on the development of customized tools to meet the needs of specific industries. Additionally, the emergence of new technologies such as 3D printing and digital twinning are also likely to offer lucrative opportunities for market expansion.
The business model of prominent North America manufacturers includes investments in R&D, product expansions, and mergers and acquisitions. Product development is a major marketing strategy of top players. The market is highly competitive, with the presence of various global and regional players.
Apex Tool Group, LLC, Atlas Copco, C. & E. Fein GmbH, Desoutter Industrial Tools, Estic Corporation, Hitachi Koki Co., Ltd, HS-Technik GmbH, Ingersoll-Rand, Makita Corporation, Panasonic Corporation, and Stanley Black & Decker are the prominent entities profiled in the North America assembly fastening tools market report.
Key players have been profiled in the North America assembly fastening tools market research based on parameters such as company overview, financial overview, business strategies, product portfolio, business segments, and recent developments.
| Attribute | Detail |
|---|---|
| Market Value in 2022 | US$ 847.1 Mn |
| Market Forecast Value in 2031 | US$ 1.2 Bn |
| Growth Rate (CAGR) | 4.4% |
| Forecast Period | 2023-2031 |
| Historical Data Available for | 2017-2021 |
| Quantitative Units | US$ Mn/Bn for Value & Thousand Units for Volume |
| Market Analysis | Includes cross segment analysis at regional as well as country level. Furthermore, qualitative analysis includes drivers, restraints, opportunities, key trends, Porter’s Five Forces analysis, value chain analysis, and key trend analysis. |
| Competition Landscape |
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| Format | Electronic (PDF) + Excel |
| Market Segmentation |
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| Region Covered |
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| Countries Covered |
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| Companies Profiled |
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| Customization Scope | Available upon request |
| Pricing | Available upon request |
It was valued at US$ 847.1 Mn in 2022
The CAGR is projected to be 4.4% from 2023 to 2031
Rise in demand from end-use industries, and technological advancement
In terms of control mechanism, the clutch controlled segment accounted for significant share in 2022
The U.S. is likely to be the most lucrative region during the forecast period
Apex Tool Group, LLC, Atlas Copco, C. & E. Fein GmbH, Desoutter Industrial Tools, Estic Corporation, Hitachi Koki Co., Ltd, HS-Technik GmbH, Ingersoll-Rand, Makita Corporation, Panasonic Corporation, and Stanley Black & Decker
1. Preface
1.1. Market Definition and Scope
1.2. Market Segmentation
1.3. Key Research Objectives
1.4. Research Highlights
2. Assumptions
3. Research Methodology
4. Executive Summary
5. Market Overview
5.1. Introduction
5.2. Market Dynamics
5.2.1. Drivers
5.2.2. Restraints
5.2.3. Opportunities
5.3. Key Trends Analysis
5.3.1. Demand Side Analysis
5.3.2. Supply Side Analysis
5.4. Key Market Indicators
5.5. Porter’s Five Forces Analysis
5.6. Industry SWOT Analysis
5.7. Value Chain Analysis
5.8. Technology Analysis
5.9. Standard and Regulation Analysis
5.10. North America Assembly Fastening Tools Market Analysis and Forecast, 2017 - 2031
5.10.1. Market Value Projections (US$ Mn)
5.10.2. Market Volume Projections (Thousand Units)
6. North America Assembly Fastening Tools Market Analysis and Forecast, By Type
6.1. North America Assembly Fastening Tools Market Size (US$ Mn and Thousand Units) Forecast, Type, 2017 - 2031
6.1.1. Corded
6.1.1.1. DC Electric Tools
6.1.1.1.1. Screwdriver
6.1.1.1.2. Impact Driver/ Wrench
6.1.1.1.3. Nut runners
6.1.1.1.4. Others
6.1.1.2. Pneumatic
6.1.1.2.1. Screwdriver
6.1.1.2.2. Impact Driver/ Wrench
6.1.1.2.3. Nut runners
6.1.1.2.4. Others
6.1.2. Cordless
6.1.2.1. Screwdriver
6.1.2.2. Impact Driver/ Wrench
6.1.2.3. Nut runners
6.1.2.4. Others
6.2. Incremental Opportunity, By Type
7. North America Assembly Fastening Tools Market Analysis and Forecast, By Tool Type
7.1. North America Assembly Fastening Tools Market Size (US$ Mn and Thousand Units) Forecast, Tool Type, 2017 - 2031
7.1.1. Right Angle Tool
7.1.2. Inline Tool
7.1.3. Pistol Grip Tool
7.1.4. Others
7.2. Incremental Opportunity, By Tool Type
8. North America Assembly Fastening Tools Market Analysis and Forecast, By Control Mechanism
8.1. North America Assembly Fastening Tools Market Size (US$ Mn and Thousand Units) Forecast, Control Mechanism, 2017 - 2031
8.1.1. Transducer Controlled
8.1.2. Current Controlled
8.1.3. Clutch Controlled
8.2. Incremental Opportunity, By Control Mechanism
9. North America Assembly Fastening Tools Market Analysis and Forecast, By End-use Industry
9.1. North America Assembly Fastening Tools Market Size (US$ Mn and Thousand Units) Forecast, End-use Industry, 2017 - 2031
9.1.1. Aerospace & Defense
9.1.2. Heavy Equipment
9.1.3. Automotive
9.1.4. Semiconductor & Electronics
9.1.5. Healthcare
9.1.6. Others
9.2. Incremental Opportunity, By End-use Industry
10. North America Assembly Fastening Tools Market Analysis and Forecast, By Country
10.1. North America Assembly Fastening Tools Market Size (US$ Mn and Thousand Units) Forecast, By Country, 2017 - 2031
10.1.1. U.S
10.1.2. Canada
10.1.3. Rest of North America
10.2. Incremental Opportunity, By Country
11. U.S. North America Assembly Fastening Tools Market Analysis and Forecast
11.1. Regional Snapshot
11.2. Macroeconomic Scenario
11.3. Key Supplier Analysis
11.4. Price Trend Analysis
11.4.1. Weighted Average Price
11.5. Key Trends Analysis
11.5.1. Demand Side
11.5.2. Supplier Side
11.6. North America Assembly Fastening Tools Market Size (US$ Mn and Thousand Units) Forecast, Type, 2017 - 2031
11.6.1. Corded
11.6.1.1. DC Electric Tools
11.6.1.1.1. Screwdriver
11.6.1.1.2. Impact Driver/ Wrench
11.6.1.1.3. Nut runners
11.6.1.1.4. Others
11.6.1.2. Pneumatic
11.6.1.2.1. Screwdriver
11.6.1.2.2. Impact Driver/ Wrench
11.6.1.2.3. Nut runners
11.6.1.2.4. Others
11.6.2. Cordless
11.6.2.1. Screwdriver
11.6.2.2. Impact Driver/ Wrench
11.6.2.3. Nut runners
11.6.2.4. Others
11.7. North America Assembly Fastening Tools Market Size (US$ Mn and Thousand Units) Forecast, Tool Type, 2017 - 2031
11.7.1. Right Angle Tool
11.7.2. Inline Tool
11.7.3. Pistol Grip Tool
11.7.4. Others
11.8. North America Assembly Fastening Tools Market Size (US$ Mn and Thousand Units) Forecast, Control Mechanism, 2017 - 2031
11.8.1. Transducer Controlled
11.8.2. Current Controlled
11.8.3. Clutch Controlled
11.9. North America Assembly Fastening Tools Market Size (US$ Mn and Thousand Units) Forecast, End-use Industry, 2017 - 2031
11.9.1. Aerospace & Defense
11.9.2. Heavy Equipment
11.9.3. Automotive
11.9.4. Semiconductor & Electronics
11.9.5. Healthcare
11.9.6. Others
12. Canada North America Assembly Fastening Tools Market Analysis and Forecast
12.1. Regional Snapshot
12.2. Macroeconomic Scenario
12.3. Key Supplier Analysis
12.4. Price Trend Analysis
12.4.1. Weighted Average Price
12.5. Key Trends Analysis
12.5.1. Demand Side
12.5.2. Supplier Side
12.6. Market Size (US$ Mn and Thousand Units) Forecast, Type, 2017 - 2031
12.6.1. Corded
12.6.1.1. DC Electric Tools
12.6.1.1.1. Screwdriver
12.6.1.1.2. Impact Driver/ Wrench
12.6.1.1.3. Nut runners
12.6.1.1.4. Others
12.6.1.2. Pneumatic
12.6.1.2.1. Screwdriver
12.6.1.2.2. Impact Driver/ Wrench
12.6.1.2.3. Nut runners
12.6.1.2.4. Others
12.6.2. Cordless
12.6.2.1. Screwdriver
12.6.2.2. Impact Driver/ Wrench
12.6.2.3. Nut runners
12.6.2.4. Others
12.7. North America Assembly Fastening Tools Market Size (US$ Mn and Thousand Units) Forecast, Tool Type, 2017 - 2031
12.7.1. Right Angle Tool
12.7.2. Inline Tool
12.7.3. Pistol Grip Tool
12.7.4. Others
12.8. North America Assembly Fastening Tools Market Size (US$ Mn and Thousand Units) Forecast, Control Mechanism, 2017 - 2031
12.8.1. Transducer Controlled
12.8.2. Current Controlled
12.8.3. Clutch Controlled
12.9. North America Assembly Fastening Tools Market Size (US$ Mn and Thousand Units) Forecast, End-use Industry, 2017 - 2031
12.9.1. Aerospace & Defense
12.9.2. Heavy Equipment
12.9.3. Automotive
12.9.4. Semiconductor & Electronics
12.9.5. Healthcare
12.9.6. Others
13. Competition Landscape
13.1. Market Player – Competition Dashboard
13.2. Market Share Analysis (%), by Company, (2022)
13.3. Company Profiles (Details – Company Overview, Sales Area/Geographical Presence, Revenue, Strategy & Business Overview)
13.3.1. Apex Tool Group, LLC
13.3.1.1. Company Overview
13.3.1.2. Sales Area/Geographical Presence
13.3.1.3. Revenue
13.3.1.4. Strategy & Business Overview
13.3.2. Atlas Copco
13.3.2.1. Company Overview
13.3.2.2. Sales Area/Geographical Presence
13.3.2.3. Revenue
13.3.2.4. Strategy & Business Overview
13.3.3. C. & E. Fein GmbH
13.3.3.1. Company Overview
13.3.3.2. Sales Area/Geographical Presence
13.3.3.3. Revenue
13.3.3.4. Strategy & Business Overview
13.3.4. Desoutter Industrial Tools
13.3.4.1. Company Overview
13.3.4.2. Sales Area/Geographical Presence
13.3.4.3. Revenue
13.3.4.4. Strategy & Business Overview
13.3.5. Estic Corporation
13.3.5.1. Company Overview
13.3.5.2. Sales Area/Geographical Presence
13.3.5.3. Revenue
13.3.5.4. Strategy & Business Overview
13.3.6. Hitachi Koki Co., Ltd
13.3.6.1. Company Overview
13.3.6.2. Sales Area/Geographical Presence
13.3.6.3. Revenue
13.3.6.4. Strategy & Business Overview
13.3.7. HS-Technik GmbH
13.3.7.1. Company Overview
13.3.7.2. Sales Area/Geographical Presence
13.3.7.3. Revenue
13.3.7.4. Strategy & Business Overview
13.3.8. Ingersoll-Rand
13.3.8.1. Company Overview
13.3.8.2. Sales Area/Geographical Presence
13.3.8.3. Revenue
13.3.8.4. Strategy & Business Overview
13.3.9. Makita Corporation
13.3.9.1. Company Overview
13.3.9.2. Sales Area/Geographical Presence
13.3.9.3. Revenue
13.3.9.4. Strategy & Business Overview
13.3.10. Panasonic Corporation
13.3.10.1. Company Overview
13.3.10.2. Sales Area/Geographical Presence
13.3.10.3. Revenue
13.3.10.4. Strategy & Business Overview
13.3.11. Stanley Black & Decker
13.3.11.1. Company Overview
13.3.11.2. Sales Area/Geographical Presence
13.3.11.3. Revenue
13.3.11.4. Strategy & Business Overview
13.3.12. Other Key Players
13.3.12.1. Company Overview
13.3.12.2. Sales Area/Geographical Presence
13.3.12.3. Revenue
13.3.12.4. Strategy & Business Overview
14. Go to Market Strategy
14.1. Identification of Potential Market Spaces
14.1.1. By Type
14.1.2. By Tool Type
14.1.3. By Control Mechanism
14.1.4. By End-use Industry
14.1.5. By Region
14.2. Preferred Sales & Marketing Strategy
List of Tables
Table 1: North America Assembly Fastening Tools Market Value (US$ Mn), by Type, 2017-2031
Table 2: North America Assembly Fastening Tools Market Volume (Thousand Units), by Type 2017-2031
Table 3: North America Assembly Fastening Tools Market Value (US$ Mn), by Tool Type, 2017-2031
Table 4: North America Assembly Fastening Tools Market Volume (Thousand Units), by Tool Type 2017-2031
Table 5: North America Assembly Fastening Tools Market Value (US$ Mn), by Control Mechanism, 2017-2031
Table 6: North America Assembly Fastening Tools Market Volume (Thousand Units), by Control Mechanism 2017-2031
Table 7: North America Assembly Fastening Tools Market Value (US$ Mn), by End-use Industry, 2017-2031
Table 8: North America Assembly Fastening Tools Market Volume (Thousand Units), by End-use Industry 2017-2031
Table 9: North America Assembly Fastening Tools Market Value (US$ Mn), by Region, 2017-2031
Table 10: North America Assembly Fastening Tools Market Volume (Thousand Units), by Region 2017-2031
Table 11: U.S. Assembly Fastening Tools Market Value (US$ Mn), by Type, 2017-2031
Table 12: U.S. Assembly Fastening Tools Market Volume (Thousand Units), by Type 2017-2031
Table 13: U.S. Assembly Fastening Tools Market Value (US$ Mn), by Tool Type, 2017-2031
Table 14: U.S. Assembly Fastening Tools Market Volume (Thousand Units), by Tool Type 2017-2031
Table 15: U.S. Assembly Fastening Tools Market Value (US$ Mn), by Control Mechanism, 2017-2031
Table 16: U.S. Assembly Fastening Tools Market Volume (Thousand Units), by Control Mechanism 2017-2031
Table 17: U.S. Assembly Fastening Tools Market Value (US$ Mn), by End-use Industry, 2017-2031
Table 18: U.S. Assembly Fastening Tools Market Volume (Thousand Units), by End-use Industry 2017-2031
Table 19: U.S. Assembly Fastening Tools Market Value (US$ Mn), by Region, 2017-2031
Table 20: U.S. Assembly Fastening Tools Market Volume (Thousand Units), by Region 2017-2031
Table 21: Canada Assembly Fastening Tools Market Value (US$ Mn), by Type, 2017-2031
Table 22: Canada Assembly Fastening Tools Market Volume (Thousand Units), by Type 2017-2031
Table 23: Canada Assembly Fastening Tools Market Value (US$ Mn), by Tool Type, 2017-2031
Table 24: Canada Assembly Fastening Tools Market Volume (Thousand Units), by Tool Type 2017-2031
Table 25: Canada Assembly Fastening Tools Market Value (US$ Mn), by Control Mechanism, 2017-2031
Table 26: Canada Assembly Fastening Tools Market Volume (Thousand Units), by Control Mechanism 2017-2031
Table 27: Canada Assembly Fastening Tools Market Value (US$ Mn), by End-use Industry, 2017-2031
Table 28: Canada Assembly Fastening Tools Market Volume (Thousand Units), by End-use Industry 2017-2031
Table 29: Canada Assembly Fastening Tools Market Value (US$ Mn), by Region, 2017-2031
Table 30: Canada Assembly Fastening Tools Market Volume (Thousand Units), by Region 2017-2031
List of Figures
Figure 1: North America Assembly Fastening Tools Market Value (US$ Mn), by Type, 2017-2031
Figure 2: North America Assembly Fastening Tools Market Volume (Thousand Units), by Type 2017-2031
Figure 3: North America Assembly Fastening Tools Market Incremental Opportunity (US$ Mn), Forecast, by Type, 2023-2031
Figure 4: North America Assembly Fastening Tools Market Value (US$ Mn), by Tool Type, 2017-2031
Figure 5: North America Assembly Fastening Tools Market Volume (Thousand Units), by Tool Type 2017-2031
Figure 6: North America Assembly Fastening Tools Market Incremental Opportunity (US$ Mn), Forecast, by Tool Type, 2023-2031
Figure 7: North America Assembly Fastening Tools Market Value (US$ Mn), by Control Mechanism, 2017-2031
Figure 8: North America Assembly Fastening Tools Market Volume (Thousand Units), by Control Mechanism 2017-2031
Figure 9: North America Assembly Fastening Tools Market Incremental Opportunity (US$ Mn), Forecast, by Control Mechanism, 2023-2031
Figure 10: North America Assembly Fastening Tools Market Value (US$ Mn), by End-use Industry, 2017-2031
Figure 11: North America Assembly Fastening Tools Market Volume (Thousand Units), by End-use Industry 2017-2031
Figure 12: North America Assembly Fastening Tools Market Incremental Opportunity (US$ Mn), Forecast, by End-use Industry, 2023-2031
Figure 13: North America Assembly Fastening Tools Market Value (US$ Mn), by Region, 2017-2031
Figure 14: North America Assembly Fastening Tools Market Volume (Thousand Units), by Region 2017-2031
Figure 15: North America Assembly Fastening Tools Market Incremental Opportunity (US$ Mn), Forecast, by Region, 2023-2031
Figure 16: U.S. Assembly Fastening Tools Market Value (US$ Mn), by Type, 2017-2031
Figure 17: U.S. Assembly Fastening Tools Market Volume (Thousand Units), by Type 2017-2031
Figure 18: U.S. Assembly Fastening Tools Market Incremental Opportunity (US$ Mn), Forecast, by Type, 2023-2031
Figure 19: U.S. Assembly Fastening Tools Market Value (US$ Mn), by Tool Type, 2017-2031
Figure 20: U.S. Assembly Fastening Tools Market Volume (Thousand Units), by Tool Type 2017-2031
Figure 21: U.S. Assembly Fastening Tools Market Incremental Opportunity (US$ Mn), Forecast, by Tool Type, 2023-2031
Figure 22: U.S. Assembly Fastening Tools Market Value (US$ Mn), by Control Mechanism, 2017-2031
Figure 23: U.S. Assembly Fastening Tools Market Volume (Thousand Units), by Control Mechanism 2017-2031
Figure 24: U.S. Assembly Fastening Tools Market Incremental Opportunity (US$ Mn), Forecast, by Control Mechanism, 2023-2031
Figure 25: U.S. Assembly Fastening Tools Market Value (US$ Mn), by End-use Industry, 2017-2031
Figure 26: U.S. Assembly Fastening Tools Market Volume (Thousand Units), by End-use Industry 2017-2031
Figure 27: U.S. Assembly Fastening Tools Market Incremental Opportunity (US$ Mn), Forecast, by End-use Industry, 2023-2031
Figure 28: U.S. Assembly Fastening Tools Market Value (US$ Mn), by Region, 2017-2031
Figure 29: U.S. Assembly Fastening Tools Market Volume (Thousand Units), by Region 2017-2031
Figure 30: U.S. Assembly Fastening Tools Market Incremental Opportunity (US$ Mn), Forecast, by Region, 2023-2031
Figure 31: Canada Assembly Fastening Tools Market Value (US$ Mn), by Type, 2017-2031
Figure 32: Canada Assembly Fastening Tools Market Volume (Thousand Units), by Type 2017-2031
Figure 33: Canada Assembly Fastening Tools Market Incremental Opportunity (US$ Mn), Forecast, by Type, 2023-2031
Figure 34: Canada Assembly Fastening Tools Market Value (US$ Mn), by Tool Type, 2017-2031
Figure 35: Canada Assembly Fastening Tools Market Volume (Thousand Units), by Tool Type 2017-2031
Figure 36: Canada Assembly Fastening Tools Market Incremental Opportunity (US$ Mn), Forecast, by Tool Type, 2023-2031
Figure 37: Canada Assembly Fastening Tools Market Value (US$ Mn), by Control Mechanism, 2017-2031
Figure 38: Canada Assembly Fastening Tools Market Volume (Thousand Units), by Control Mechanism 2017-2031
Figure 39: Canada Assembly Fastening Tools Market Incremental Opportunity (US$ Mn), Forecast, by Control Mechanism, 2023-2031
Figure 40: Canada Assembly Fastening Tools Market Value (US$ Mn), by End-use Industry, 2017-2031
Figure 41: Canada Assembly Fastening Tools Market Volume (Thousand Units), by End-use Industry 2017-2031
Figure 42: Canada Assembly Fastening Tools Market Incremental Opportunity (US$ Mn), Forecast, by End-use Industry, 2023-2031
Figure 43: Canada Assembly Fastening Tools Market Value (US$ Mn), by Region, 2017-2031
Figure 44: Canada Assembly Fastening Tools Market Volume (Thousand Units), by Region 2017-2031
Figure 45: Canada Assembly Fastening Tools Market Incremental Opportunity (US$ Mn), Forecast, by Region, 2023-2031
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North America Assembly Fastening Tools Market
*86 figures and 60 tables includes