What is Electric Screwdriver Market?
An electric screwdriver is a hand tool that uses electricity to screw and unscrew screws. The demand for an electric screwdriver in the manufacturing industry is expected to rise in the future, as is the demand for an easy-to-use electric screwdriver. In addition, cordless screwdrivers are becoming more popular due to features such as their compact size, which makes them easier to operate in tight spaces. The residential sector's development is expected to fuel demand for electric screwdrivers in the future.
The market study is being classified by Type (Cord Electric Screwdriver and Cordless Electric Screwdriver), by Application (Industrial, Commercial and Residential) and major geographies with country level break-up.
Stanley Black & Decker (United States), Bosch (Germany), Makita (Japan), TTI, Inc (United States), Positec (China), Dongcheng (India), Hitachi, Ltd. (Japan), Hilti Corporation (Liechtenstein), CHERVON Trading Co., Ltd (China) and Ozito Industries (Australia) are some of the key players profiled in the study. Additionally, the Manufacturers which are also part of the research are FEIN Power Tools, Inc. (United States), Dixon Automatic (United States) and Mountz Torque (United States).
The market is seeing fragmented by seeing huge growth in this market the key leading vendors are highly focusing on the production technologies, efficiency enhancement, and product life. There is a various growth opportunity in this market which is captured by leading players via tracking the ongoing process enhancement and huge invest in market growth strategies. Research Analyst at AMA predicts that United States Manufacturers will contribute to the maximum growth of Global Electric Screwdriver market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Electric Screwdriver market by Type, Application and Region.
On the basis of geography, the market of Electric Screwdriver has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Rising Demand for Electric Screwdriver in Manufacturing Industry
- Electric Screwdriver is Less Expensive and Easy to Use
Market Trend
- Electric Screwdriver Contains Built-in Light
Restraints
- Fluctuation in the Price of Raw Material
Opportunities
- Increasing Industrialisation Globally
- Rising Demand from Emerging Countries
Challenges
- Some Cordless Screwdrivers can Drill Pilot Holes Only
In April 2019, Makita U.S.A., Inc., announced the launch of the Makita 12V max CXT® Lithium-Ion Cordless 3/8" Driver-Drill Kit (FD09) and ¼” Hex Screwdriver Kit (FD10). These tools are an ideal solution for users seeking a more compact driver-drill for applications in tight spaces.
Key Target Audience
Venture Capitalists and Private Equity Firms, New Entrants/Investors, Manufacturers of Electric Screwdriver, Suppliers/Distributors, Raw Material Suppliers, Market Research and Consulting Firms and Government Bodies