LONDON--(BUSINESS WIRE)--The global electric screw gun market is expected to post a CAGR of close to 5% during 2019-2023, according to the latest market research report by Technavio. Request a free sample report
One of the key factors driving the growth of the global electric screw gun market is the rise of the housing industry. With the rising urbanization, changing lifestyles, population explosion, and technological advances, the growth in the housing market has been constant. As a result, investments are increasing in building new homes and renovating old ones, which is contributing to the expansion of the housing sector. This growth is indicative of the rising sales of power tools, including electric screw guns, for construction activities.
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As per Technavio, the rising demand for cordless electric screw guns will have a positive impact on the market growth over the forecast period. This research report also analyzes other important trends and market drivers that will influence market growth over 2019-2023.
Global Electric Screw Gun Market: Rising Demand for Cordless Electric Screw Guns
The rising demand for cordless electric screw guns is considered as one of the critical trends in the global market. The need for quicker, mobile, and convenient power tools solutions is leading to high sales of electric screw guns. A cordless electric screw gun is lightweight. Moreover, unlike corded electric screw guns, the cordless model is easily maneuverable. Most of the prominent manufacturers are coming up with cordless screw guns by incorporating efficient and lightweight lithium batteries. This trend is expected to be noted across regions over the forecast period. Furthermore, this trend also indicates that the demand for corded screw guns is declining.
“Apart from the rising demand for cordless electric screw guns, the ease of use and increasing labor costs, coupled with the upsurge in organized retail, are other crucial factors that will boost market growth during the forecast period,” says a senior analyst at Technavio.
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Global Electric Screw Gun Market: Segmentation Analysis
This market research report segments the global electric screw gun market by product (cordless and corded) and geographical regions (the Americas, APAC, and EMEA).
The Americas led the market in 2018, followed by APAC and EMEA. During the forecast period, the Americas is expected to maintain its dominance over the global market. This is due to the rapid growth of the housing industry in the region.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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