What is Global Handheld Electric Nutrunner Market?
The Global Handheld Electric Nutrunner Market is a specialized sector within the broader power tools industry. Handheld electric nutrunners are essentially power tools used for tightening nuts and bolts with precision and efficiency. These tools are handheld, electrically powered, and are designed to provide a specific torque, ensuring the correct tightness of the nut or bolt without causing damage. They are widely used in various industries such as automotive, manufacturing, construction, and many others. The global market for these tools is significant and continues to grow, driven by the increasing demand for efficient, reliable, and precise power tools. The market's value was estimated at US$ 285.2 million in 2022 and is projected to reach US$ 392.2 million by 2029. This growth is expected to occur at a Compound Annual Growth Rate (CAGR) of 4.6% from 2023 to 2029.
Pistol Type, Angle Type, Straight Type in the Global Handheld Electric Nutrunner Market:
The Global Handheld Electric Nutrunner Market is segmented based on the type of nutrunner, which includes Pistol Type, Angle Type, and Straight Type. The Pistol Type nutrunner is designed like a pistol, with the handle and the trigger positioned for easy grip and operation. This type is commonly used in applications where the operator needs to have a good grip on the tool for precise control. The Angle Type nutrunner, on the other hand, has a right-angle design, making it suitable for use in tight spaces where a straight tool would not fit. The Straight Type nutrunner is the most basic design, with a straight handle and a bit holder at the end. Each of these types has its own advantages and is used in different applications, depending on the specific requirements of the task at hand.
Automotive, Transportation, Machinery Manufacturing, Others in the Global Handheld Electric Nutrunner Market:
The Global Handheld Electric Nutrunner Market finds its usage in various sectors such as Automotive, Transportation, Machinery Manufacturing, among others. In the automotive sector, these tools are used in the assembly of vehicles, where precision and speed are of utmost importance. They help in efficiently tightening the nuts and bolts in various parts of the vehicle, ensuring the vehicle's safety and performance. In the transportation sector, handheld electric nutrunners are used in the maintenance and repair of various transportation equipment such as trains, buses, and airplanes. In the machinery manufacturing sector, these tools are used in the assembly and maintenance of various machines and equipment. The use of handheld electric nutrunners in these sectors helps in improving the efficiency and productivity of the operations, thereby contributing to the growth of these sectors.
Global Handheld Electric Nutrunner Market Outlook:
The global Handheld Electric Nutrunner market, which was valued at US$ 285.2 million in 2022, is expected to grow to US$ 392.2 million by 2029. This represents a Compound Annual Growth Rate (CAGR) of 4.6% during the forecast period from 2023 to 2029. Europe is currently the largest market for Handheld Electric Nutrunners, accounting for approximately 41% of the global market share. North America follows closely behind, holding about 25% of the market share. The top three companies in this market collectively hold about 40% of the market share. This data indicates a significant concentration of the market, with a few key players dominating the industry.
| Report Metric | Details |
| Report Name | Handheld Electric Nutrunner Market |
| Accounted market size in 2022 | US$ 285.2 million |
| Forecasted market size in 2029 | US$ 392.2 million |
| CAGR | 4.6% |
| Base Year | 2022 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Consumption by Region |
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| By Company | Bosch Rexroth, Atlas Copco, ESTIC Corporation, Apex Tool Group, Dai-ichi Dentsu Ltd., STANLEY Engineered Fastening, Sanyo Machine Works, ALFING Montagetechnik GmbH (AMT), Ingersoll Rand, Nitto Seiko, FEC Inc., Maschinenfabrik Wagner GmbH & Co. KG, Tone Co., AIMCO, Desoutter Industrial Tools |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
