Electric Screwdrivers Market size shall reach a value of $x Million in 2027, growing with a CAGR of 11.2% during the forecast period of 2020 to 2027.
Market Definition / Research Scope
An electric screwdriver is an automated power device powered by an electric motor to fasten the screws promptly to the set torque. They contain rechargeable batteries, an electric motor, a dual planetary gear system, a switch, and a chuck, that wields the screwdriver into a very powerful and portable tool. An electric screwdriver is a hand tool for loosening or tightening a screw, comprising of a handle connected to a long, metal shank, which flattens out and tapers to a tip that fits into the slotted head of a screw.
Furthermore, the two major types of electric screwdrivers are standard and brushless. Standard electric screwdrivers have small carbon brushes inside the device that regulate electricity between the stationary wires and rotating shaft. Unlike the standard electric screwdriver, brushless electric screwdrivers do not have any brush, and they generate less wear, less heat, less tear, and can be utilized for higher volumes of work.
Moreover, electric screwdrivers are used in different industrial applications to harmonize with government and engineers specifications to make sure the screws are tightened correctly and rapidly.
Electric Screwdrivers Market Growth and Trends
Driving factors for the industry :
• An electric screwdriver are in high demand in various industry sector applications because it uses power from an electric motor to tighten screws rapidly and correctly along with setting up of torque as compared to normal ordinary screwdrivers. This factor thereby helps in boosting the growth of the global market during the assessment time period.
• Growing demand for electric screwdrivers from various manufacturing sectors from developing economies all over the world, due to high efficiency in performing both small and large scale projects, is therefore expected to boost the electric screwdrivers market globally.
• Electric screw drivers market are used extensively in various industrial, commercial and residential sectors owing to it’s high speed quality. This is another major factor responsible for incrementing the growth and demand for the electric screwdrivers market.
• The electric screwdriver market is highly fragmented with large scale manufacturers wanting to invest on the design and manufacture, as well as provide high end electric screw driver products, which in turn help in boosting the demand and growth of the electric screwdriver market during the upcoming near future globally.
• The Asia Pacific regional countries like India and China is estimated to hold significant share in the market and boost the demand and growth of the electric screwdriver machine market exponentially due to rising government initiatives taken to cater all small as well as large scale industrial applications
Challenges for the industry :
• The degradation of world economy on a large basis will have an adverse effect on the electric screw driver market, due to lack of proper investments on good quality parts required to produce proper functioning electric screw drivers.
• The electric screwdrivers should be operated by well skilled work personnel, to ensure precise and rapid work and also avoid any kind of health hazards, accident or any other uncertain situations which can get created due to lack of concentration and proper technical skills, thereby causing a hindrance in case not checked.
Electric Screwdrivers Market Regional Analysis
The Asia Pacific region, which mainly includes countries like Japan, India, China, and South Korea, holds an outstanding share globally because of the increased development in the construction and manufacturing sector, rapid industrialization, and urbanization. North American countries like the United States, Greenland, Mexico, Cuba, and Canada contribute to the global market because of the increase in Electric Screwdrivers’ demands as they are instrumental and affordable. Other European countries like Germany, Italy, France, the United Kingdom, and Chile are rising because of the increase in commercial, manufacturing, and other residential industries.
Electric Screwdrivers Market Share and Competition
Key companies operating in this industry are: Kawasaki Heavy Industries, Ltd., 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., and Metabowerke GmbH. Similar industries in this domain that is growing at a high CAGR include Electrical Discharge Machine (EDM) Market and Electric Arc Furnaces Market.
Electric Screwdrivers Market Research Report Analysis Highlights
• Historical data available (as per request)
• Estimation/projections/forecast for revenue and unit sales (2020 – 2027)
• Data breakdown for every market segment (2020 – 2027)
• Gross margin and profitability analysis of companies
• Price analysis of each product type
• Business trend and expansion analysis
• Import and export analysis
• Competition analysis/market share
• Supply chain analysis
• Client list and case studies
• Market entry strategy
Industry Segmentation and Revenue Breakdown
Electric Screwdriver Type Analysis (Revenue, USD Million, 2020 - 2027)
• Cordless
• Cord
Application Analysis (Revenue, USD Million, 2020 - 2027)
• Industrial
• Commercial
• Residential
Type Analysis (Revenue, USD Million, 2020 - 2027)
• AC Electric Screwdriver
• DC Electric Screwdriver
Industry Analysis (Revenue, USD Million, 2020 - 2027)
• IT & Telecommunication
• Aerospace & Defense
• Electronics & Consumer Goods
• Chemicals
• Machinery
• Automotive
• Healthcare
• Aviation
• Power Generation Systems
• Construction
• Others
Region Analysis (Revenue, USD Million, 2020 - 2027)
• United States
• Canada
• Mexico
• France
• Germany
• Italy
• Spain
• United Kingdom
• Russia
• China
• India
• Philippines
• Malaysia
• Australia
• Austria
• South Korea
• Middle East
• Japan
• Africa
• Rest of World
Electric Screwdrivers Market Companies
• Kawasaki Heavy Industries, Ltd.
• 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
Available Versions: -
United States Electric Screwdrivers Market Research Report
Europe Electric Screwdrivers Market Research Report
Asia Pacific Electric Screwdrivers Market Research Report
India Electric Screwdrivers Market Research Report
Need report on this market for specific region or Country? Or need a customized report as per your need? Want to know discounts as available?
Email US
David Correa
david@marketdecipher.com
Or Fill the form below "Sample Request Form" with your queries in message box.
