The worldwide market for fastening power tools keeps on to stay positive and is projected to increase at 6.8% value CAGR for the duration of the assessment. The global market is likely to capture close to US$ 2,402 Million through the end of 2018 and is likely to account for a market valuation of US$ 4,096 Million towards the end of the forecast year. Some of the key aspects fuelling the expansion of the worldwide market in the current scenario are the increasing housing investments, growing automotive production and sales as well as strict government regulations for worker security which consent employers to evaluate risks at the workplace as well as give workers with individual protective equipment as requisite.
Geographically, Europe is the leading market capturing more than 32.8% of the overall market share in revenue terms towards 2018 end and is likely to continue to remain so all through the assessment period due to growing awareness amid end users as well as strict worker safety regulations. The SEA market will be witnessing remarkable expansion in value terms in the worldwide market, demonstrating an 8.8% CAGR over 2026 because of expansion in India and ASEAN nations.
The fastening power tools are expansively applicable in construction, industrial, household & DIY, woodworking & framing and others. There are several product types accessible in the global market such as corrugated fasteners, rebar tier, screw system, nailer machine, stapler and hog ring tool. Among these, the corrugated fasteners are projected to expand at a notable growth pace in value terms in the said period. The screw system category will remain dominant in volume terms in the market globally for the duration of the forecast. The rebar tier machine category will be accounting for 36.5% of the worldwide market to account for US$ 876 Million through 2018 end.
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In terms of the technology, the overall market includes corded, electric, NiMH cordless, NiCd cordless, pneumatic and Li-on cordless. Among these, the electric category will be dominating the market with close to 57.7% towards 2018 end and anticipated to continue to do so by 2028. Based on the mode of sales, the overall market is segmented into online, distributors and retailers. Both in terms of volume & value distributors category is projected to lead the overall market with a 39.7% of value share through the end of 2018.
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