Fastening Power Tool Market Size, Share, Scope and Forecast 2034

The fastening power tools market is anticipated to expand at a 6.4% CAGR during the period from 2024 to 2034, as per Fact.MR. The global market for these products is anticipated to grow to US$ 3,502.1 million by 2034. As per Fact MR, a market research and competitive intelligence provider, the global market for fastening power tools is growing fast and is likely to continue its growth in the next few years.

The market for fastening power tools is likely to experience strong growth in emerging markets as a result of growing industrialization and infrastructure development in such markets. Initiatives by the government towards encouraging infrastructure development and industrialization are likely to support the fastening power tool market. The need to replace aging or worn out power tools in industries is likely to increase the demand for new, advanced fastening tools. Major infrastructure projects, including roads, bridges, and airports, are likely to drive the sales of fastening power tools, particularly in areas with high infrastructure development programs.

Implementation of Industry 4.0 concepts, including automation, data exchange, and connectivity in manufacturing, can result in the use of advanced fastening power tools with intelligent features. Power tools with fastening capacities appropriate for these materials can see increased demand, given growing industrial applications of lightweight and long-lasting composite materials. The adoption of collaborative robots in manufacturing is likely to open up markets for power tools with fastening capacities that can work in collaboration with human workers, boosting efficiency and productivity.

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Key Takeaways from the Market Study

  • The fastening power tool market size of the world was estimated to be US$ 3,502.1 million in 2024.
  • The rebar level is projected to lead the market, with 31.2% market share in 2024.
  • The retailers segment is anticipated to capture a market share of 39.9% in 2034.
  • The United States is forecasted to capture 67.1% of the world market in 2024.
  • North America is anticipated to hold a CAGR of 6.6% by 2034.

“Advances in 3D printing technology are expected to influence the design and manufacturing of fastening power tools, allowing for more intricate and customized tool components,” says a Fact.MR analyst.

Key Companies Profiled in This Report

  • C. and E. Fein GmbH
  • DEWALT
  • 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.

Competitive Landscape

The power tools fastening market is influenced by pricing, distribution, customer service, and regulatory compliance in order to remain competitive. The ability to respond to market dynamics and keep pace with technology advancements is key to long-term success in this rapidly changing industry.

Recent Development

  • In 2022, Hilti Group, a leading innovator in tools, technology, software, and services for the commercial construction sector, released the introduction of a revolutionary innovation, Nuron, a high-performance 22V cordless battery platform with integrated connectivity.
  • Headquartered in Schaan, Liechtenstein, and Plano, Texas, Hilti's Nuron transforms the everyday working experience of construction professionals by integrating cutting-edge technologies. The platform not only tackles health and safety issues but also raises efficiency, enabling users to work safer, smarter, and more efficiently.

Read More: https://www.factmr.com/report/fastening-power-tool-market 

More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the global fastening power tool market, presenting historical analysis from 2019 to 2023 and forecast statistics for the period of 2024 to 2034.

The study reveals essential insights based on fastening power tool market analysis by product type (rebar tier, corrugated fasteners, nailer machine, screw system, hog ring tool, stapler), by mode of sales (retailers, distributors, online), and by region (North America, Latin America, Europe, East Asia, South Asia and Oceania, and Middle East & Africa).

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