Air Screwdrivers Market Forecast and CAGR
According to the latest research by Fact.MR, air screwdrivers market is expected to show an increase at a fast pace in the next 10 years. The rise in demand from the manufacturing companies for a higher level of torque that is useful for assembling has increased the overall productivity in the market.
These tools have innumerable characteristics such as are light in weight, faster in speed, and make less noise in comparison to traditional tools. They run through a battery installed within them and can be carried to any location even where there is no electricity. Due to this, there has been an increased demand from automotive, manufacturing, and other sectors for such tools.
All the above-mentioned factors drive the market and will result in higher demand in the future.
What is Driving Demand for Air Screwdrivers?
Every sector is now focusing on technology innovation that will make their work easier and faster. Particularly, for assembly tools, technology is getting advanced at a quick pace to experience versatility, high torque range and durability.
Due to these reasons, the manufacturing and construction industries have shown a sudden surge in their demand for this equipment which is advanced, lightweight, and less noisy with better torque control. It runs through a battery installed within it and doesn’t require electricity to be used which is why this can be easily operated even in remote areas.
Nowadays, as the technology is becoming advanced day by day, the manufacturers have launched new varieties of screwdrivers that include double hammer mechanisms with faster speed and with a better controllable torque range. All these are the key drivers which will help the market to expand and will result in higher demand in the future.
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Covid-19 Impact on Global Air Screwdrivers Market
Covid 19 pandemic has deeply impacted the economy. Almost every industry is adversely affected by the spread of this virus and the subsequent lockdown was seen in different countries across the world. This was the main reason for the disruption in the supply chain.
Operations in several sectors were stopped and the growth of the same was hampered. Due to the lockdown, people were stuck in their houses and activities like construction and repairs were at a halt. Due to this, there was a negative impact on the demand which showed a downfall.
As the economy has now started to show recovery after the lockdown has been lifted, so things are coming back to normal, and the sectors are again becoming operational and getting back to their usual business activities. Along with this, the construction and repair activities are resuming and gaining a regular pace.
Due to all of this, the economy is slowly retrieving and getting back in order. All the above-mentioned factors have been contributing to increase the demand for screwdrivers as the activities of different sectors are slowly resuming.
Global Air Screwdrivers Market Geographical Outlook
The demand for air screwdrivers has been studied for six prominent regions including North America, Latin America, Europe, East-Asia, South-Asia and Middle-East & Africa.
Among these North America and Europe are the prominent regions, having a larger market share generating the majority of the market revenue. Furthermore, as the number of manufacturers are increasing in the USA so this region has more opportunities to increase its operations in the near future.
The Asia Pacific including countries such as India, Japan, and China, comes next in line due to the growth of the industrial sector and an increase in construction activities. This region is gradually observing a rise in its operations that will increase its market share in the future.
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Who are the Key Manufacturers of the Air Screwdrivers Market?
There are different leading manufacturers in this market such as
- AIMCO Global
- AIR PRESS
- Bosch Production Tools
- Altas Copco
- Desoutter Industrial Tools
- Ingersoll Rand
Manufacturers have started adding to their product lines and are introducing new products with double hammer mechanisms that are faster with better torque control which is nowadays preferred by every company involved in industrial and construction sectors and that is proved to be highly influential for the demand for such screwdrivers.
By embracing different strategies like mergers and acquisitions, product innovation and partnerships, the key players have increased the demand in the market experiencing a better market share.
Air Screwdrivers Market Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
An Adaptive Approach to Modern-day Research Needs
By Torque Range
- Inch pounds
- Foot pounds
- Newton Meters
- Inline Screwdriver
- Pistol grip
- North America
- US & Canada
- Latin America
- Brazil, Mexico, Argentina & Rest of Latin America
- Germany, France, Italy, Spain, U.K., Benelux, Russia, and Rest of Europe
- East Asia
- China, Japan, South Korea
- South Asia
- India, Thailand, Malaysia, Indonesia and Rest of South Asia
- Australia and New Zealand
- Middle East and Africa
- GCC Countries, Turkey, South Africa, and Rest of Middle East & Africa
- North America
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company.
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Is the market research conducted by Fact.MR?
Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
What research methodology is followed by Fact.MR?
Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.
What are the sources of secondary research?
Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.
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