Nutrunner Market by Type (Pneumatic Nutrunner, Electric Nutrunner, and Hydraulic Nutrunner), End-user (Automotive, Industrial, Construction, and Others), and Regional Analysis (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2021–2028

Global Nutrunner Market Analysis

The global nutrunner market size is predicted to garner $1,180.2 million in the 2021–2028 timeframe, growing from $853.1 million in 2020, at a healthy CAGR of 4.2%.

Market Synopsis

Globally, the manufacturing sectors are growing at a significant pace. Increasing manufacturing of commercial vehicles, industrial machinery, and earth moving equipment is the key factor driving the growth of the global nutrunner market. Furthermore, the growing adoption of power tools in the manufacturing sectors will boost the demand for nutrunner during the forecast period.

The cost of electric nutrunner is high compared to conventional nutrunner. Furthermore, the high penetration of conventional pneumatic torque devices hinders the growth of the global nutrunner market.

According to the regional analysis, the Asia-Pacific nutrunner market is anticipated to grow during the review period and generate a revenue of $331.6 million in 2028, with a CAGR of 4.8%. Increasing penetration of power tools such as nutrunner is the key factor driving the growth of nutrunner in the region.

Nutrunner Overview

Nutrunners, also known as pneumatic torque wrenches, are part of the family of industrial torque wrenches that are used to tighten nuts, bolts, and screws. Nutrunners are used in heavy construction industries such as mining, steel, railroad, and manufacturing, where the tightening of a bolt or nut must meet specific specifications.

Impact Analysis of COVID-19 on the Global Nutrunner Market

The spread of the novel coronavirus had a devastating effect on the global economy. All industrial sectors felt the impact of the COVID-19 crisis directly or by the necessary measures taken by the government to mitigate the spread of the virus. Several countries imposed complete lockdown, social distancing norms, and restricted public gatherings. Additionally, a ban on non-essential traveling and transport resulted in declining sales of nutrunners. Furthermore, the implementation of social distancing norms had disrupted the availability of a skilled workforce, which led to disruption in daily activities and delayed planned/ongoing manufacturing activities. Moreover, due to complete lockdown, availability and movement of supply trucks were also affected, hampering the movement of raw material and finished products. Thus, COVID-19 had a significant impact on the global nutrunner market.

Growing Investment in the Automotive Sector to Drive the Market Growth

Investment in the automotive sector has increased in recent years. Favorable government policies and schemes to boost investment in automotive sectors. For instance, as per Invest India, the Union Cabinet chaired by the Prime Minister, Shri Narendra Modi, announced the Production-Linked Incentive (PLI) Scheme in the automobile and auto components sectors. The scheme offers financial incentives to boost domestic manufacturing of advanced automotive technology products and attract investments in the automotive manufacturing value chain.

Growing investment and manufacturing facilities have created ample employment in India, China, and Brazil. For instance, according to Invest India, India is projected to be the world's third-largest automotive market in terms of volume by 2026 and will generate around 35 million employment opportunities.

Growing employment opportunities have led to an increase in disposable income and purchasing of consumers. Furthermore, increased population, stringent government regulations regarding the vehicle emission level, and the increasing standard of living all over the world will boost the demand for passenger vehicles in coming years. As a result of growing automotive industry, the demand for nutrunner is projected to grow in during the forecast period.

To know more about global nutrunner market drivers, get in touch with our analysts here.

High Cost of Nutrunner to Restrain Market Growth

The electric nutrunner is costly and heavier than most pneumatic nutrunner. Furthermore, electric nutrunner faster wear & tear on electric cords compare to pneumatic nutrunner. As a result, the nut runners' high initial cost and the availability of alternatives are anticipated to hinder the growth of the global nutrunner market.

Growing Demand for Earth Moving Equipment to Generate Huge Opportunities

Nowadays, heavy construction and earthmoving equipment have become essential components of the construction industry. In addition to excavating and grading soil and rock, earthmoving equipment is used for a wide range of work. These types of equipment are used for materials handling, demolition, and construction. Rapid urbanization due to the rising population has increased the demand for earthmoving and construction equipment.

As a result of rising investment in the industrial sector, the number of commercial buildings, manufacturing units, and warehouses has increased in India, China, and Brazil. To speed up work and reduce construction time, contractors are increasingly using heavy construction and earthmoving equipment. Such factors have fueled the demand for earthmoving equipment. Growing demand for heavy construction and earthmoving equipment is anticipated to provide growth opportunities for nutrunner in the coming years.

To know more about global nutrunner market opportunities, get in touch with our analysts here.

[TYPEGRAPH]

Source: Research Dive Analysis

The pneumatic nutrunner sub-type is anticipated to have a dominant market share and generate a revenue of $419.0 million by 2028, growing from $305.5 million in 2020. Pneumatic nutrunners are driven by continuous gearing. The pneumatic nutrunner has high accuracy due to the consistent mediation between clutch & speed response. Additionally, a pneumatic nutrunner has minimum vibration and noise. The market for pneumatic nutrunner is driven by high product adaptability and penetration.

The electric nutrunner sub-type is anticipated to grow with highest CAGR of 4.7% from 2021 -2028. Electric nutrunner uses a DC controller as a power source. Advanced ergonomics and ease to handle are the key factors driving the demand for electric nutrunners. The increasing use of electric nutrunner in automotive, heavy machinery, and mining industries is fueling the demand for electric nutrunner during the forecast period.

[ENDUSERGRAPH]

Source: Research Dive Analysis

The automotive sub-segment is anticipated to have a dominant market share and generate a revenue of $431.7 million by 2028, growing from $321.8 million in 2020. The automotive industry is growing at a significant pace due to increasing investment and stringent emission norms. Furthermore, increasing adoption of advanced power tools is the key factor driving the demand for nutrunner in the automotive industry.

The industrial sub-segment is projected to grow at the fastest CAGR of 4.9% from 2021 – 2028. Increasing investment in the industrial sector is expected to fuel the demand for the nutrunner in the coming years. Additionally, growing adoption of pneumatic power tools is expected to fuel the demand for nutrunner in the industrial sector.

[REGIONGRAPH]

Source: Research Dive Analysis

The Market for Nutrunner in Europe to be the Most Dominant

Europe nutrunner market was the highest revenue contributor, accounting for $293.5 million in 2020, and is estimated to reach $393.0 million by 2028, with a CAGR of 3.8%. High adoption of power torque tools in the automotive, heavy machinery, and mining industry is the key factor driving the demand for nutrunner in the region. Furthermore, the presence of leading automotive, earthmoving, and industrial machinery manufacturers will provide growth opportunities for the nutrunner market in the coming years.

Asia-Pacific Nutrunner Market is Projected to Grow with the Highest CAGR

Asia-Pacific nutrunner market is estimated to reach $331.6 million by 2028, at a significant CAGR of 4.8%. Growing investment in the manufacturing sector is the main factor driving the demand for nutrunner in the region. In addition, growing investment in automation and increasing adoption of power torque tools in the manufacturing sector will provide growth opportunities for the nutrunner in the coming years.

Competitive Scenario in the Global Nutrunner Market

Acquisition and investment are common strategies followed by major market players.

Source: Research Dive Analysis

Some of the leading nutrunner market players are Stanley Black & Decker, Atlas Copco AB, Robert Bosch, Techtronics Industries, AIMCO, DAI-ICHI DENTSU LTD, Ingersoll Rand, ITH Bolting Technology, Maschinenfabrik Wagner GmbH & Co. KG, and ESTIC CORPORATION.

Porter’s Five Forces Analysis for the Global Nutrunner Market:

• Bargaining Power of Suppliers: The majority of the companies operating in the nutrunner industry buy various raw materials from various suppliers. However, presence of large number of suppliers reduces their profits as the buyer can switch from one supplier to another based on the basis of cost factor and demand.
  Thus, the bargaining power of suppliers is low.
• Bargaining Power of Buyers: There are significant number of suppliers in the market. Buyers can easily switch from one supplier to another.
  Thus, buyer’s bargaining power will be high.
• Threat of New Entrants: The market is dominated by leading players such as Atlas Copco, Robert Bosch, and Stanley Black & Decker. Furthermore, production and labor costs are relatively low in China and India. However, companies that are in the nutrunner market are much more globalized.
  Thus, the threat of the new entrants is moderate.
• Threat of Substitutes: The high presence of conventional nutrunner in developing countries is expected to act as major substitute.
  Thus, the threat of substitutes is moderate.
• Competitive Rivalry in the Market: The companies operating in this market are focusing on bringing innovative technologies in nutrunner which increases the industry competition.
  Therefore, competitive rivalry in the market is high.

1.Research Methodology

1.1.Desk Research
1.2.Real time insights and validation
1.3.Forecast model
1.4.Assumptions and forecast parameters

1.4.1.Assumptions
1.4.2.Forecast parameters

1.5.Data sources

1.5.1.Primary
1.5.2.Secondary

2.Executive Summary

2.1.360° summary
2.2.By Type trends
2.3.By End User trends

3.Market overview

3.1.Market segmentation & definitions
3.2.Key takeaways

3.2.1.Top investment pockets
3.2.2.Top winning strategies

3.3.Porter’s five forces analysis

3.3.1.Bargaining power of consumers
3.3.2.Bargaining power of suppliers
3.3.3.Threat of new entrants
3.3.4.Threat of substitutes
3.3.5.Competitive rivalry in the market

3.4.Market dynamics

3.4.1.Drivers
3.4.2.Restraints
3.4.3.Opportunities

3.5.Technology landscape
3.6.Regulatory landscape
3.7.Patent landscape
3.8.Pricing overview

3.8.1.by Product
3.8.2.by End User product

3.9.Market value chain analysis

3.9.1.Stress point analysis
3.9.2.Raw material analysis
3.9.3.Manufacturing process
3.9.4.End User analysis
3.9.5.Operating vendors

3.9.5.1.Raw material suppliers
3.9.5.2.Product manufacturers
3.9.5.3.Product distributors

3.10.Strategic overview

4.Nutrunner Market, by Type

4.1.Pneumatic Nutrunner

4.1.1.Market size and forecast, by region, 2020-2028
4.1.2.Comparative market share analysis, 2020 & 2028

4.2.Electric Nutrunner

4.2.1.Market size and forecast, by region, 2020-2028
4.2.2.Comparative market share analysis, 2020 & 2028

4.3.Hydraulic Nutrunner

4.3.1.Market size and forecast, by region, 2020-2028
4.3.2.Comparative market share analysis, 2020 & 2028

5.Nutrunner Market, by End User

5.1.Automotive

5.1.1.Market size and forecast, by region, 2020-2028
5.1.2.Comparative market share analysis, 2020 & 2028

5.2.Railroad Industry

5.2.1.Market size and forecast, by region, 2020-2028
5.2.2.Comparative market share analysis, 2020 & 2028

5.3.Industrial

5.3.1.Market size and forecast, by region, 2020-2028
5.3.2.Comparative market share analysis, 2020 & 2028

5.4.Construction

5.4.1.Market size and forecast, by region, 2020-2028
5.4.2.Comparative market share analysis, 2020 & 2028

5.5.Others

5.5.1.Market size and forecast, by region, 2020-2028
5.5.2.Comparative market share analysis, 2020 & 2028

6.Nutrunner Market, by Region

6.1.North America

6.1.1.Market size and forecast, by Type, 2020-2028
6.1.2.Market size and forecast, by End User , 2020-2028
6.1.3.Market size and forecast, by country, 2020-2028
6.1.4.Comparative market share analysis, 2020 & 2028

6.1.5.U.S.

6.1.5.1.Market size and forecast, by Type, 2020-2028
6.1.5.2.Market size and forecast, by End User , 2020-2028

6.1.6.Canada

6.1.6.1.Market size and forecast, by Type, 2020-2028
6.1.6.2.Market size and forecast, by End User , 2020-2028

6.1.7.Mexico

6.1.7.1.Market size and forecast, by Type, 2020-2028
6.1.7.2.Market size and forecast, by End User , 2020-2028

6.2.Europe

6.2.1.Market size and forecast, by Type, 2020-2028
6.2.2.Market size and forecast, by End User , 2020-2028
6.2.3.Market size and forecast, by country, 2020-2028

6.2.4.Germany 

6.2.4.1.Market size and forecast, by Type, 2020-2028
6.2.4.2.Market size and forecast, by End User , 2020-2028

6.2.5.UK

6.2.5.1.Market size and forecast, by Type, 2020-2028
6.2.5.2.Market size and forecast, by End User , 2020-2028

6.2.6.France

6.2.6.1.Market size and forecast, by Type, 2020-2028
6.2.6.2.Market size and forecast, by End User , 2020-2028

6.2.7.Spain

6.2.7.1.Market size and forecast, by Type, 2020-2028
6.2.7.2.Market size and forecast, by End User , 2020-2028

6.2.8.Italy 

6.2.8.1.Market size and forecast, by Type, 2020-2028
6.2.8.2.Market size and forecast, by End User , 2020-2028

6.2.9.Rest of Europe

6.2.9.1.Market size and forecast, by Type, 2020-2028
6.2.9.2.Market size and forecast, by End User , 2020-2028

6.3.Asia Pacific

6.3.1.Market size and forecast, by Type, 2020-2028
6.3.2.Market size and forecast, by End User , 2020-2028
6.3.3.Market size and forecast, by country, 2020-2028

6.3.4.China

6.3.4.1.Market size and forecast, by Type, 2020-2028
6.3.4.2.Market size and forecast, by End User , 2020-2028

6.3.5.Japan

6.3.5.1.Market size and forecast, by Type, 2020-2028
6.3.5.2.Market size and forecast, by End User , 2020-2028

6.3.6.India 

6.3.6.1.Market size and forecast, by Type, 2020-2028
6.3.6.2.Market size and forecast, by End User , 2020-2028

6.3.7.South Korea 

6.3.7.1.Market size and forecast, by Type, 2020-2028
6.3.7.2.Market size and forecast, by End User , 2020-2028

6.3.8.Australia 

6.3.8.1.Market size and forecast, by Type, 2020-2028
6.3.8.2.Market size and forecast, by End User , 2020-2028

6.3.9.Rest of Asia Pacific

6.3.9.1.Market size and forecast, by Type, 2020-2028
6.3.9.2.Market size and forecast, by End User , 2020-2028

6.4.LAMEA

6.4.1.Market size and forecast, by Type, 2020-2028
6.4.2.Market size and forecast, by End User , 2020-2028
6.4.3.Market size and forecast, by country, 2020-2028

6.4.4.Latin America  

6.4.4.1.Market size and forecast, by Type, 2020-2028
6.4.4.2.Market size and forecast, by End User , 2020-2028

6.4.5.Middle East 

6.4.5.1.Market size and forecast, by Type, 2020-2028
6.4.5.2.Market size and forecast, by End User , 2020-2028

6.4.6.Africa

6.4.6.1.Market size and forecast, by Type, 2020-2028
6.4.6.2.Market size and forecast, by End User , 2020-2028

7.Company profiles

7.1.Stanley Black & Decker 

7.1.1.Company overview
7.1.2.Key executives
7.1.3.Company snapshot
7.1.4.Operating business segments
7.1.5.Product portfolio
7.1.6.R&D expenditure
7.1.7.Business performance
7.1.8.Key strategic moves and developments

7.2.Atlas Copco AB 

7.2.1.Company overview
7.2.2.Key executives
7.2.3.Company snapshot
7.2.4.Operating business segments
7.2.5.Product portfolio
7.2.6.R&D expenditure
7.2.7.Business performance
7.2.8.Key strategic moves and developments

7.3.Robert Bosch

7.3.1.Company overview
7.3.2.Key executives
7.3.3.Company snapshot
7.3.4.Operating business segments
7.3.5.Product portfolio
7.3.6.R&D expenditure
7.3.7.Business performance
7.3.8.Key strategic moves and developments

7.4.Techtronics Industries

7.4.1.Company overview
7.4.2.Key executives
7.4.3.Company snapshot
7.4.4.Operating business segments
7.4.5.Product portfolio
7.4.6.R&D expenditure
7.4.7.Business performance
7.4.8.Key strategic moves and developments

7.5.AIMCO

7.5.1.Company overview
7.5.2.Key executives
7.5.3.Company snapshot
7.5.4.Operating business segments
7.5.5.Product portfolio
7.5.6.R&D expenditure
7.5.7.Business performance
7.5.8.Key strategic moves and developments

7.6.DAI-ICHI DENTSU LTD

7.6.1.Company overview
7.6.2.Key executives
7.6.3.Company snapshot
7.6.4.Operating business segments
7.6.5.Product portfolio
7.6.6.R&D expenditure
7.6.7.Business performance
7.6.8.Key strategic moves and developments

7.7.Ingersoll Rand

7.7.1.Company overview
7.7.2.Key executives
7.7.3.Company snapshot
7.7.4.Operating business segments
7.7.5.Product portfolio
7.7.6.R&D expenditure
7.7.7.Business performance
7.7.8.Key strategic moves and developments

7.8.ITH bolting Technology

7.8.1.Company overview
7.8.2.Key executives
7.8.3.Company snapshot
7.8.4.Operating business segments
7.8.5.Product portfolio
7.8.6.R&D expenditure
7.8.7.Business performance
7.8.8.Key strategic moves and developments

7.9.Maschinenfabrik Wagner GmbH & Co. KG

7.9.1.Company overview
7.9.2.Key executives
7.9.3.Company snapshot
7.9.4.Operating business segments
7.9.5.Product portfolio
7.9.6.R&D expenditure
7.9.7.Business performance
7.9.8.Key strategic moves and developments

7.10.ESTIC CORPORATION

7.10.1.Company overview
7.10.2.Key executives
7.10.3.Company snapshot
7.10.4.Operating business segments
7.10.5.Product portfolio
7.10.6.R&D expenditure
7.10.7.Business performance
7.10.8.Key strategic moves and developments

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