"Catapult Your Business to Fore, Gain Competitive Advantage "
Electric screw driver is an electric motor-driven mechanical power tool. It is a portable device that is primarily utilized for screwing and unscrewing functions. The head of screw driver is equipped with a bit holder that allows to quickly insert the bit to screw head. Cordless electric screw driver expresses higher tightening torque in case of furniture assembly whereas corded electric screw driver is utilized for intensive usage in industry assembly station or in a mechanical workshop.
The emergence of electric screw driver is attributed to its features including, torque control for ensuring accuracy in ergonomics, low noise & high efficiency, anti-slip egg-shaped design to ensure comfortable operation and ease of handling. For instance, Atlas Copco’s ‘EBL Screw Driver’ is designed to utilize for electric low torque screw drivers with supreme operator comfort. Additionally, utilization of electric screw drivers with subtle adjustments is certainly shaping manufacturing projects across countries including, China, India, U.S., Malaysia, Germany, Italy and others.
The adoption of electric screw driver is increasing in recent years. It is owing to, its distinctive features and capabilities in various industrial applications including, IT & telecommunication, aerospace & defence, machinery, automotive, energy etc. Additionally, key manufacturers are focused on strategic mergers and acquisitions with regional and local players to penetrate the product in residential applications, that is ultimately boosting the growth of the market. Considering all these factors, the global electric screw drivers market is expected to observe bolstering growth in the forecast period.
However, COVID-19 outbreak has drastically affected the electric screw drivers market globally. The manufacturing and re-manufacturing units have stopped production as, lockdown has broken the transportation processes. Moreover, the factory activities are knotted down across most of Asia and Europe in March as the aforesaid outbreak has paralyzed economic activity across the world. The industries including construction, automobile, etc. are suffering from delays in the project works in the year 2020, owing to the sudden COVID-19 outbreaks. Also, the constructional work in residential and commercial sectors have been halted down for undefined time, that is indirectly affecting the growth of electric screw drivers market across the globe. Considering all these factors, the electric screw drivers market is expected to witness major downfall in the year 2020. Though, on a long-term basis, the outlook seems dynamic for the aforesaid market with attractive expansion opportunities for the market players in years to come.
Key Market Driver -
• Rapid demand for electric screw drivers in manufacturing and construction industry • Streamlined additions to cordless electric screw drivers
Key Market Restraint -
• High upfront investment for cordless electric screw driver
Key players operating in the global Electric Screw Drivers market are Robert Bosch Power Tools GmbH, Hitachi, Ltd., Kolver srl, Kilews Industrial Co., Ltd., Suzhou Everich Imp. & Exp. Co., Ltd., Stanley Black & Decker, Inc., Atlas Copco, LUN-YUAN ENTERPRISE CO., LTD., Chevron Holdings Limited, Makita Corporation, Harbor Freight Tools USA Inc., Chevron Holdings Limited, FEIN Power Tools Inc., The Positec Tool Corporation, Metabowerke GmbH, Mountz Torque, Sumake Industrial Co., Ltd., ASA Enterprise Corp., Himax, Ingersoll-Rand plc, ASG, Division of Jergens, Inc. and others.
Asia Pacific is expected to witness highest compounded annual growth rate (CAGR) in the forecast period. It is owing to, the development in construction sector across residential, commercial and industrial applications across India, China, and Oceania countries. Additionally, government initiatives to enhance the efficiency of industrial projects is fueling the growth of global electric screw drivers market.
North America is expected to witness substantial growth as; it is relatively the matured market with substantial construction expenditure. Also, the market players across U.S. and Canada have potential to expand their business portfolio in cross country market.
Europe is anticipated to witness steady growth, owing to the constant demand for precision electric screw drivers across commercial projects. Additionally, the presence of leading manufacturers including, Atlas Copco AB, Robert Bosch Power Tools GmbH, Kolver srl and others is complimenting the steady growth across European countries.
Middle East and Africa and Latin America are expected to witness fast growth with effect of increased investment in infrastructural developments across Brazil, United Arab Emirates and other countries. Moreover, the manufacturers are finding these regions to be potential to aggressively penetrate the product range of electric screw drivers.
To gain extensive insights into the market, Request for Customization
By Electric Current
“This report is really well done and we really appreciate it! Again, I may have questions as we dig in deeper. Thanks again for some really good work.”- U.S.-based biotechnology company focussing on treatment of chronic pain.
“Kudos to your team. Thank you very much for your support and agility to answer our questions.”- Europe-based provider of solutions to automate data centre operations.
“We appreciate you and your team taking out time to share the report and data file with us, and we are grateful for the flexibility provided to modify the document as per request. This does help us in our business decision making. We would be pleased to work with you again, and hope to continue our business relationship long into the future.”- India-based manufacturer of industrial and specialty intermediates with a strong global presence.
“I want to first congratulate you on the great work done on the Medical Platforms project. Thank you so much for all your efforts.”- One of the largest cosmetics company in the world.
“Thank you very much. I really appreciate the work your team has done. I feel very comfortable recommending your services to some of the other startups that I’m working with, and will likely establish a good long partnership with you.”- U.S. based startup operating in the cultivated meat market.
“We received the below report on the U.S. market from you. We were very satisfied with the report.”- UGlobal hearing aids manufacturer.
“I just finished my first pass-through of the report. Great work! Thank you!”- U.S. based solar racking solutions provider.
“Thanks again for the great work on our last partnership. We are ramping up a new project to understand the imaging and imaging service and distribution market in the U.S.”- World’s leading advisory firm.
“We feel positive about the results. Based on the presented results, we will do strategic review of this new information and might commission a detailed study on some of the modules included in the report after end of the year. Overall we are very satisfied and please pass on the praise to the team. Thank you for the co-operation!”- Germany based machine construction company.
“Thank you very much for the very good report. I have another requirement on cutting tools, paper crafts and decorative items.”- Japanese manufacturing company of stationery products.
“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”- One of the Leading Food Companies in Germany
“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”- Intuitive Surgical
“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”- Major Food Company in Japan
“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”- Ziering Medical
“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”- Major Manufacturer of Precision Machine Parts in India
“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”- Hewlett-Packard
“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”- Global Management Consulting Firm
“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”- UK-based Start-up in the Medical Devices Sector
“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”- One of the Largest Companies in the Defence Industry