- Screwdriver is an electrical or manual tool used for installing and removing screws. Majority of screwdrivers have a handle and shaft.
Key Drivers of the Global Screwdriver Market
- Increasing requirement for screwdrivers in the consumer electronics industry is driving the market growth owing to the fact that the consumer electronics industry is expanding at a fast pace over the past few years.
- Increase in demand for electronic products from commercial and household segments coupled with easier access to credit is driving the demand for products such as screwdrivers.
- Screwdrivers are easy to manufacture. Large number of small and medium scale screwdriver manufacturers in developing countries are expected to improve the outlook for the screwdriver market in the near future.
Rising Demand for Electric Screwdrivers to Create New Market Opportunities
- Technological innovation in the electric screwdriver industry is expected to create huge market opportunity. Electric screwdrivers are highly popular in different manufacturing industries.
High Bargaining Power of Buyers to Restrict Market Growth
- Screwdrivers are available in the market in different product ranges. Moreover, many small-scale manufacturers offer this product at a lower price. As a result, bargaining power of buyers is very high. This leads to market slowdown for large scale manufacturers.
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Asia Pacific the Dominant Market for Screwdrivers
- Asia Pacific was the dominant and fastest growing screwdriver market in 2019. North America and Europe accounted for significant share of the screwdriver market, with major players operating from these regions. Demand for electric screwdrivers is expected to grow at a higher pace in Asia Pacific during the forecasted period.
- Many small and medium companies are present in North America, Asia Pacific, and Latin America. Germany and China are the hubs of screwdriver manufacturers.
Key Players Operating in the Global Screwdriver Market
The global screwdriver market is fragmented in nature. Companies are working on product innovation and development to expand their customer base. Furthermore, key companies are adopting the merger and acquisition strategy to improve their market revenue at the global level. Small and medium scale manufacturers are working on technological innovation in the electric screwdriver segment. Some of the key players operating in the global screwdriver market are listed below:
- Robert Bosch Tool Corporation
- Hitachi, Ltd.
- Kolver srl
- Suzhou Everich Imp. & Exp. Co., Ltd.
- LUN-YUAN ENTERPRISE CO., LTD.
- Kilews Industrial Co., Ltd.
- Stanley Black & Decker, Inc.
- Makita Corporation
- Chevron Holdings Limited
- The Positec Tool Corporation
- FEIN Power Tools Inc.
- Harbor Freight Tools USA Inc.
- Mountz, Inc.
- Metabowerke GmbH
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Global Screwdriver Market: Research Scope
Global Screwdriver Market, by Product
Global Screwdriver Market, by End-user
- IT & Telecommunication
- Aerospace & Defense
- Electronics & Consumer Goods
- Others (Aviation, Power Generation Systems, Construction, etc.)
Global Screwdriver Market, by Application
Global Surface Grinding Machine Market, by Distribution Channel
- Company Website
- Third Party Website
- Hypermarkets & Supermarkets
- Specialty Stores
- Other Retail Stores
Global Surface Grinding Machine Market, by Region
- North America
- Rest of North America
- Western Europe
- Nordic countries
- Rest of Western Europe
- Eastern Europe
- Rest of Eastern Europe
- Asia Pacific
- New Zealand
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- North Africa
- Rest of Middle East & Africa
- Latin America
- Rest of Latin America
The report on the global screwdriver market is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macroeconomic indicators, and governing factors, along with market attractiveness as per segments. The report also maps the qualitative impact of various factors on market segments and regions.
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?
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.