Global Fastening Power Tools market in its latest report titled ‘Fastening Power Tools Market: Global Industry Analysis 2013–2017 and Forecast, 2018–2026.’ The long-term outlook on the global Fastening Power Tools market remains positive, with market value expected to increase at a CAGR of XX% during the forecast period (2018 – 2026). Among product type, corrugated fasteners segment is expected to expand at a significant CAGR in terms of value over the forecast period. Global sales of Fastening Power Tools is estimated to be valued at US$ XX Mn by the end of 2017. Europe is estimated to account for a value share of XX% in the global Fastening Power Tools market by 2018 end and it is anticipated to retain its dominance throughout the forecast period. In this report, TMR throws light on drivers and restraints likely to impact the market during the forecast period.
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A major factor driving the growth of the global Fastening Power Tools market, in present scenario, is the rising housing investments, increasing automotive sales and production, and stringent government regulations for worker’s safety. Regulations employed by government bodies, which mandates employers to assess hazards at the workplaces and provide workers with personal protective equipment as required. Stringent regulations in conjunction with increasing preference towards providing safety at the workplace is driving growth of the global fastening power tools market.
Emerging markets include countries undergoing rapid economic growth and industrialization and are poised to emerge as substantial markets. These countries play a crucial role as they create demand for fastening power tools as they become manufacturing hubs and modernize their infrastructure. Growing industrialization in emerging countries such as China, Global, Brazil and South Africa is expected to fuel demand for fastening power tools globally during the forecast period. The government support coupled with the increased outsourcing of manufacturing endeavours from developed nations has propelled industrialization in these emerging economies.
However, the global Fastening Power Tools market is expected to face some challenges. Intense Pricing Competition is one of the prime reasons which can affect the growth of Fastening Power Tools market in the coming years. Moreover, increased automation in the production process is another factor that may impact the demand for Fastening Power Tools, thus in turn restricting the revenue growth of the global Fastening Power Tools market.
The Fastening Power Tools market is segmented on the basis of product type, technology, mode of sales, end-use application, and region
- On the basis of product type, the screw system segment is anticipated to continue to dominate the market in terms of volume over the forecast period
- In terms of value, rebar tier machine segment, owing to their high pricing are estimated to account for nearly XX% of the global Fastening Power Tools market to reach US$ XX Mn by the end of 2017
Regional market projections
Europe is the leading market for Fastening Power Tools accounting for over XX% market share in terms of revenue in the global Fastening Power Tools market by the end of 2018 owing to awareness amongst end-users and stringent worker’s safety regulations. SEA and Other APAC Fastening Power Tools market is projected to witness significant growth in terms of value in the global Fastening Power Tools market over the forecast period, exhibiting a CAGR of XX% over the forecast period. This is attributed to growth in ASEAN countries and India.
The report highlights some of the top companies operating in the global Fastening Power Tools market such as Makita Corporation, Hitachi Koki Co., Ltd., C. & E. Fein GmbH, DEWALT, Hilti Corporation, Xindalu Electronic Technology Co., Ltd., Wacker Neuson SE, and other regional players