Fastening Power Tools Market Forecasts to 2030 – Global Analysis By Product Type (Corded Power Tools, Cordless Power Tools, Pneumatic Power Tools, Hydraulic Power Tools, Powder-Actuated Tools and Other Product Types), Power Source, Battery, Technology, Ap

Fastening Power Tools Market Forecasts to 2030 – Global Analysis By Product Type (Corded Power Tools, Cordless Power Tools, Pneumatic Power Tools, Hydraulic Power Tools, Powder-Actuated Tools and Other Product Types), Power Source, Battery, Technology, Application, End User and By Geography

According to Stratistics MRC, the Global Fastening Power Tools Market is accounted for $2.8 billion in 2024 and is expected to reach $4.6 billion by 2030 growing at a CAGR of 8.9% during the forecast period. Fastening power tools are specialized tools designed to securely join or affix materials together using fasteners like screws, bolts, nails, or staples. These tools are powered by various energy sources, including electricity, batteries, or compressed air, enabling more efficient and consistent fastening compared to manual methods. These tools significantly improve productivity and reduce the physical strain on workers by automating the fastening process. They also ensure consistent torque application, which is crucial for the integrity and safety of the assembled products

According to Association of Equipment Manufacturers (AEM) data 2022, the semiconductor industry accounted for approximately 20% market share in terms of unit sales showing growth of approximately 15% from 2022.

Market Dynamics:

Driver:

Growing demand from the construction industry

The global construction industry, especially in emerging economies, is experiencing a surge in demand for fastening tools due to the increasing construction of residential and commercial projects. These tools are crucial for securing elements and facilitating faster assembly processes. The growth of infrastructure projects, such as roads and bridges, further increases the demand for fastening power tools, which are essential for large-scale construction projects.

Restraint:

High maintenance costs

The cost of owning fastening power tools increases due to maintenance and repair requirements, as components like motors and batteries wear out over time. This can be a significant expense for both consumers and businesses. In developing countries, consumers may be reluctant to invest in maintenance due to the availability of low-cost manual labor, opting for manual alternatives instead.

Opportunity:

Notable increase in do-it-yourself (DIY) activities

The rise in DIY projects has led to a surge in the demand for fastening power tools, as homeowners and hobbyists seek efficient solutions for tasks like furniture assembly and home renovations. Manufacturers are expanding their product offerings to include a wider variety of user-friendly, lightweight, and cordless fastening tools, capturing a larger market segment and encouraging more consumers to undertake DIY projects.

Threat:

Competition from low-cost alternatives

Low-cost alternatives in fastening power tools create significant price pressure on established brands, forcing them to lower prices to remain competitive. This can lead to a race to the bottom, compromised quality, and a decline in market share for premium products. Consumers in price-sensitive markets may prioritize affordability over quality, resulting in decreased sales for manufacturers focusing on high-quality, innovative products.

Covid-19 Impact:

The COVID-19 pandemic significantly impacted the fastening power tools market. Initially, the market experienced a slowdown due to supply chain disruptions, labor shortages, and economic uncertainties. However, as construction activities resumed and industries adapted, the market rebounded. The pandemic accelerated the shift towards e-commerce, with consumers increasingly purchasing power tools online for home improvement projects.

The pneumatic power tools segment is expected to be the largest during the forecast period

The pneumatic power tools is expected to be the largest during the forecast period as they are widely used in construction, manufacturing, automotive, and aerospace industries due to increasing demand driven by industrial automation, infrastructure development, and automotive growth. They offer advantages over electric tools like higher power-to-weight ratios, faster speeds, and precise control, enhancing productivity and efficiency in assembly and manufacturing processes.

The brushless motor technology segment is expected to have the highest CAGR during the forecast period

The brushless motor technology segment is expected to have the highest CAGR during the forecast period because these tools deliver more efficient power, resulting in more powerful and longer-lasting tools. The elimination of brushes reduces friction and heat generation, enhancing performance. Brushless motors require minimal maintenance, making them more attractive to consumers. The smaller size and lighter weight of brushless motors have led to more compact and manoeuvrable cordless fastening power tools.

Region with largest share:

North America is projected to hold the largest market share during the forecast period owing to the U.S.'s construction and infrastructure development sector is driving the demand for fastening power tools, driven by the growth of residential, commercial, and public projects and the increasing DIY home improvement trend among consumers, thereby boosting market growth.

Region with highest CAGR:

Asia Pacific is projected to hold the highest CAGR over the forecast period due to technological advancements like brushless motor technology and improved battery capabilities are making fastening power tools more efficient and appealing to professionals and DIY enthusiasts. The automotive industry, particularly in Japan, is growing, with the shift towards electric vehicles and advanced manufacturing techniques likely to increase demand for specialized tools.

Key players in the market

Some of the key players in Fastening Power Tools market include AIMCO , Atlas Copco, C & E Fein Gmgh, Dewalt, Hilti Corporation, Hitachi Koki Co Ltd, KOKI Holdings, Makita Corporation, Robert Bosch GmbH, Sumake Industrial Co. Ltd., Techtronic Industries Co. Ltd., Wacker Neuson SE and Xindalu Electronic Technology Co Ltd

Key Developments:

In August 2024, Integrated Pump Rental (“IPR”), a specialty rental provider of dewatering solutions in South-Africa, will become part of Atlas Copco Group. The company provides fully outsourced dewatering solutions through rental of pump and ancillary equipment.

Product Types Covered:
• Corded Power Tools
• Cordless Power Tools
• Pneumatic Power Tools
• Hydraulic Power Tools
• Powder-Actuated Tools
• Other Product Types

Power Sources Covered:
• Cordless
• Corded

Batteries Covered:
• Lithium-Ion (Li-ion)
• Nickel-Cadmium (NiCd)
• Nickel-Metal Hydride (NiMH)
• Graphene-Based Batteries
• Rapid Charging Systems
• Other Batteries

Technologies Covered:
• Brushed Motor Technology
• Brushless Motor Technology
• Variable Speed Technology
• Pneumatic Technology
• Hydraulic Technology
• Other Technologies

Applications Covered:
• Framing & Roofing
• Drywall Installation & Concrete Fastening
• Vehicle Assembly & Tire Installation
• Automotive Repair & Maintenance
• Woodworking
• Heavy Equipment Manufacturing
• Sealing
• Other Applications

End Users Covered:
• Construction
• Automotive
• Aerospace
• Electronics
• Packaging
• Furniture Manufacturing
• Other End Users

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements