Fastening power tools are broadly used for manufacturing and assembling automobiles. The automotive industry had witnessed a blip during the outbreak of Covid-19 between March 2020 and September 2021. However, it has bounced back now, which is, in turn, expected to bolster the market for fastening power tools in the forecast period. The current trend pertains to tabling of hybrid fasteners, which are lightweight as compared to the all-metal fasteners due to them being built out of unconventional materials like plastic and metal combined.
At the same time, personal protective equipment are in great demand due to stern regulations related to safety at work.
Initially, the fasteners used to be attached to the hardware using welding methods and adhesives. However, as of now, loose fasteners are being asked for by the users. This helps in easy detachment as well as maintenance of the fasteners. Though pricing issues persist, long-term durability would drive the demand for fastening tools in the upcoming period.
Fastening Power Tools Market Dynamics
The global fastening power tools market, by product type, includes rebar tier, corrugated fasteners, nailer machine, screw system, hog ring tool, and stapler. Technology-wise, it’s electric, corded, NiCd cordless, NiMH cordless, Li-on cordless, and pneumatic.
By mode of sales, it’s retailers, distributors, and online. By end-use application, it’s construction, industrial, woodworking & framing, household & DIY, and likewise. Persistence Market Research has highlighted these findings with subsequent steps to be taken in its latest market study entitled “Fastening Power Tools Market”.
North America holds the latest market share, followed by Europe. The Asia-Pacific is expected to witness the most topsy-turvy situation in the near future. Persistence Market Research has glanced through these facts with future perspectives in its latest market study entitled “Fastening Power Tools Market”.
Persistence Market Research has profiled the key players in fastening power tools market as: Makita Corporation, Hitachi Koki Co., Ltd., C. & E. Fein GmbH DEWAIT, Hilti Corporation, Xindalu Electronic Technology Co., Ltd., Wacker Neuson SE, Techtronic Industries Co. Ltd., SENCO, MAX Co., Ltd., Sumake Industrial Co., Ltd., AIMCO, and likewise. These players are engaging in organic as well as inorganic modes of expansion to strengthen their foothold in the fastening power tools market. They are inclusive of mergers, acquisitions, new product launch, joint ventures, and partnerships.
What’s there for the Future?
The global fastening power tools market is likely to grow on a sizable note in the next 10 years – Persistence Market Research