DUBLIN--(BUSINESS WIRE)--The "Nutrunner Market by Type, Distribution Channel and End-user Industry: Global Opportunity Analysis and Industry Forecast, 2021-2030" report has been added to ResearchAndMarkets.com's offering.
The global nutrunner market was valued at $789.4 million in 2020, and is projected to reach $1,168.5 million by 2030, registering a CAGR of 4.1% from 2021 to 2030.
A nutrunner is required where the fastening and loosen of screws or nut and bolts is critical. It enables the operator to measure the torque applied to the fastener to match it to the specification of an application. A reaction device is equipped outside the gearbox, and is designed to absorb torque and allow the tool user to operate it with minimal effort. The torque output is adjusted by controlling air pressure. Electrical, pneumatic, and hydraulic nutrunner tools are utilized when precise torque is required for fastening a nut and bolt or when nut needs to be removed or replaced.
Rise in construction application such as fixing doors and windows and installation of solar panels drives the market growth. In addition, increase in industrial application such as engineering and machine manufacturing propels the market growth. Furthermore, various governments are focusing on strengthening their defense unit by manufacturing advanced aircraft and navy ships, which will create demand for nutrunner tools. Owning to such factors, the nutrunner market will expand at a notable pace during the forecast period.
Nutrunner are used during assembly of aircraft and ships. They are required for fastening and tightening of automotive parts with nuts and bolts. Hence, expansion of the automotive sector is expected to provide lucrative growth opportunities for the market growth. For instance, in December 2020, The US government contributed $27 billion to the shipbuilding budget for 2022 and $28.5 billion for 2023. In addition, Naval Sea Systems Command claims that by the end of 2021, the U.S. Navy will have commissioned seven ships. As a result, nutrunner tools will be required for ship manufacturing and assembling its part. Such factors are projected to fuel market expansion during the forecast period.
The global nutrunner market is segmented on the basis of type, distribution channel, end-user industry, and region. On the basis of type, the market is segregated into electric nutrunner, pneumatic nutrunner, and hydraulic nutrunner. On the basis of distribution channel, it is categorized into in store and online. Depending on the end-user industry, it is fragmented into construction, industrial, automotive, and others. Region wise, the market analysis is conducted across North America (the U.S., Canada, and Mexico), Europe (the UK, France, Germany, Italy, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
- The report provides an extensive analysis of the current and emerging nutrunner market trends and dynamics.
- In-depth market analysis is conducted by constructing market estimations for the key market segments between 2020 and 2030.
- Extensive analysis of the nutrunner market is conducted by following key product positioning and monitoring of the top competitors within the market framework.
- A comprehensive analysis of all the regions is provided to determine the prevailing opportunities.
- The global nutrunner market forecast analysis from 2020 to 2030 is included in the report.
- The key market players within nutrunner market are profiled in this report and their strategies are analyzed thoroughly, which help understand the competitive outlook of the nutrunner industry.
- Electric Nutrunner
- Pneumatic Nutrunner
- Hydraulic Nutrunner
By Distribution Channel
- In Store
By End-user Industry
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Latin America
- Middle East
- Aimco Global
- Atlas Copco AB
- Bosch Rexroth AG
- Dai-Ichi Dentsu Ltd
- Estic Corporation
- Ingersoll Rand Inc.
- ITH bolting Technology
- Maschinenfabrik Wagner GmbH & Co.AG
- Sanyo Machine Works Ltd.
- Stanley Engineered Fastening
For more information about this report visit https://www.researchandmarkets.com/r/tkt519