The Handheld Electric Nutrunner Market is being driven by a number of factors, including the expanding automotive and machine manufacturing sectors, the benefits these tools provide over manual or pneumatic nutrunners, and the ongoing creation of new and improved models.
Additionally, it is anticipated that the use of these technologies will increase even more in the upcoming years due to rising concerns over occupational health and safety. Furthermore, it is anticipated that the installation of strict government rules surrounding the usage of these technologies will accelerate market growth.
Due to the numerous advantages, these tools have over their manual and pneumatic equivalents, there is a need for the Handheld Electric Nutrunner Market. They deliver a higher amount of torque, are simpler to use, and are much more accurate and reliable in their results, for example. They are also a great deal safer to utilise, which is something that many sectors take into account.
The Handheld Electric Nutrunner Market has a number of benefits, such as fast speed, precision, and repeatability. These tools are also incredibly adaptable and useful for a wide range of tasks. They also require little training and are comparatively simple to use. The Handheld Electric Nutrunner Market is anticipated to expand at a sizable rate during the projected period as a result of these benefits.
A power tool that is used to tighten or loosen nuts and bolts is a handheld electric nutrunner. It is a battery-operated, cordless instrument that is portable. These tools come in a variety of types, including pistol, angle, and straight. They are employed in a variety of industries, including the production of machinery and automobiles. These tools are employed in the automotive sector for a range of jobs including the assembly of engine blocks, transmissions, and other parts. They are employed in the transportation sector to do jobs like tightening bolts on trucks and buses. They are employed in the machinery manufacturing sector for jobs like assembling machinery and equipment.
It is anticipated that between 2021 and 2031, the global market for handheld electric nutrunners would expand at a CAGR of 5.8%. Market size is anticipated to increase from an estimated USD 864 million in 2021 to USD 1,290 million by 2031.
The price of these instruments is costly when compared to their manual or pneumatic counterparts, which is one of the main problems the market for handheld electric nutrunners faces. As these are not simple products to use and require some amount of training and experience, this industry also faces the difficulty of a lack of skilled operators. These difficulties should be overcome soon, though, thanks to the ongoing development of new and improved models.
Atlas Copco, Ingersoll Rand, Chicago Pneumatic, Sumake Industrial, KITO, Stahlwille, Wera Tools, Apex Tool Group, Honsa Ergonomic Technologies, and Hanson Brantner are a few of the market's major players, manufacturers, and vendors.
The Pistol Type to Emerge as the Most Lucrative Segment
The portable electric nutrunners market is divided into three sorts based on type: pistol, angle, and straight. The pistol style of handheld electric nutrunner is the most popular of them. It is frequently utilised in applications for manufacturing machinery and automobiles because of its ergonomic form. In addition to other uses, the angle type is frequently employed in the automotive industry. It is simple to handle and utilise because of its small weight and compact form. The straight style of portable electric nutrunner is the least popular.
The Most Popular Application Segment in the Automotive
The market for handheld electric nutrunners is segmented into four categories based on applications: automotive, transportation, machinery manufacturing, and others. Due to the increasing demand for electric vehicles on a global scale, the automotive industry is predicted to grow at the fastest rate of all. Due to the growing infrastructure development throughout several locations, the transportation sector is anticipated to expand significantly. Due to the rising demand for effective machines across a range of industries, the manufacturing of machinery is anticipated to expand.
The Asia Pacific (APAC) region to render Adequate Financing Avenues
Based on geographic division, the market has been divided into North America, South America, Asia Pacific, Europe, the Middle East, and Africa (MEA). Due to the expanding automobile sector in nations like China, India, and Japan, the Asia Pacific area is anticipated to be the biggest market for handheld electric nutrunners. Due to the existence of major companies in both the North American and European markets, significant growth is also anticipated in these regions. Due to the absence of many major competitors in the South American and MEA regions, growth in these regions is predicted to occur at a somewhat slower rate.
COVID-19 Impact and Market Status
The COVID-19 pandemic epidemic has had a detrimental effect on the world economy, which has led to a decline in the demand for portable electric nutrunners. The production of handheld electric nutrunners has been hampered by the lockdown imposed by many governments throughout the world. The COVID-19 epidemic has also had a negative impact on the automobile and transportation sectors, which are significant end-users of portable electric nutrunners. The slowdown in the global economy has also had an effect on the machinery manufacturing sector. As the lockdown limitations are eased and end-use industry demand rises, the market is anticipated to rebound throughout the projected period.
Latest Innovations in the Global Handheld Electric Nutrunner Market: A Snapshot
• Atlas Copco introduced the QEHS line of electric nutrunners in January 2019. The new series is intended for usage in fields like general engineering, aerospace, and the automobile industry.
• Ingersoll Rand introduced the IQV Series, a new line of electric nutrunners, in June 2019. The new series is intended for usage in fields like general engineering, aerospace, and the automobile industry.
• Desoutter Industrial Tools introduced the DN Series, a new line of electric nutrunners, in August 2019. The new series is intended for usage in fields like general engineering, aerospace, and the automobile industry.
Handheld Electric Nutrunner Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2032||USD 1,290 million|
|Growth Rate||CAGR of 5.8% during 2021-2031|
|Segment Covered||by Type, By Application, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and Africa|
|Key Players Profiled||Atlas Copco, Ingersoll Rand, Chicago Pneumatic, Sumake Industrial, KITO, Stahlwille, Wera Tools, Apex Tool Group, Honsa Ergonomic Technologies, and Hanson Brantner|
Key Segment of Global Handheld Electric Nutrunner Market
By Type Overview 2021-2031, (USD Million)
• Pistol Type
• Angle Type
• Straight Type
By Application Overview 2021-2031, (USD Million)
• Machinery Manufacturing
• Automobile Industry
By Region Overview 2021-2031, (USD Million)
• Rest of Asia Pacific
• Rest of North America
• Rest of Europe
Middle East and Africa