Global Nut Runner Market: Introduction
Growth in the automotive sector has led to the higher adoption of equipment such as nut runners, which tighten screws and bolts in crucial situations. Nut runners are generally more compact, convenient, accurate, easy to use and reduce the overall operation time as compared to nut drivers. Nut runners are expected to emerge as important equipment in the near future across various applications. Different types of nut runners are available depending on type, including single head nut runner, double headed nut runner and micro nut runner.
More recently, electrical nut runners and battery powered nut runners have been perceived to heave the demand from automotive, aerospace, marine and electronic applications. Nut runners are projected to hold a dominant share in the automotive industry as they allow the operator to measure the torque applied to the fastener so it can be matched to the specifications of a particular application.
Global Nut Runner Market: Dynamics
Ever growing end-use industries such as automotive, electronics, aerospace, marine and pharmaceutical, both in developing and developed economies, are expected to be the prime reason driving the growth of the global nut runner market over the forecast period. Moreover, increasing automation is also anticipated to give traction to the growth of the nut runner market in the coming decade. Furthermore, battery operated and electrical nut runners reduce the overall operational time, which is also expected to contribute to the growth of the global nut runner market over the forecast period.
A nut runner generally requires maintenance at regular intervals of time, which is expected to hamper the growth of the nut runner market over the forecast period. Moreover, nut runners require skilled labour, which is anticipated to act as a restraining factor to the growth of the market.
A major trend expected five years down the line involves market leaders, both dedicated manufacturers & OEMs, focusing on research and development (R&D) activities to develop new and innovative products and maintain leadership in the market. Robert Bosch GmbH has developed a Nexo cordless Wi-Fi nut runner, which has a complete control unit on the nut runner.
Global Nut Runner Market: Segmentation
The global nut runner market can be segmented on the basis of type, product type and application.
By type, the global nut runner market can be segmented into:
- Single Head Nut Runner
- Double Headed Nut Runner
- Micro Nut Runner
By product type, the global nut runner market can be segmented into:
- Battery Powered Nut Runner
- Electric Nut Runner
By application, the global nut runner market can be segmented into:
- Off-Road Equipment
Global Nut Runner Market: Regional Outlook
The global nut runner market can be segmented into the following regions – North America, Western Europe, Eastern Europe, Latin America, South East Asia-Pacific, China, Japan, India and the Middle East and Africa. Asia Pacific is expected to be closely followed by North America throughout the forecast period. Both of these markets are expected to witness massive growth in the nut runner market due to the estimated growth in the automotive sector in emerging economics, such as the U.S., China and India. Western Europe is estimated to grow at a substantial CAGR during the forecast period, owing to the high demand for nut runners in the growing automotive sector in the region. Germany is expected to be the leading automotive and automobile market in Western Europe. Latin America is expected to grow at a considerable CAGR during the forecast period, owing to the growth of end-use industries in the region.
Global Nut Runner Market: Market Participants
Examples of some of the market participants identified across the value chain of the global nut runner market include,
- Robert Bosch GmbH
- Armstrong Tools
- Atlas Copco Industrial Technique
- Desoutter Industrial Tools
- STANLEY Engineered Fastening
- Alki TECHNIK GmbH
- Estic Corporation
- Dino Paoli Srl
- FEC Automation Systems
- Rami Yokota B.V.
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