Global Nutrunner Market Predicted to Hit $1,180.2 Million, Growing at 4.2% CAGR from 2021 to 2028 [175-Pages] | Exclusive Report by Research Dive

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Rising demand for powerful equipment in the construction and manufacturing sector is fueling the global nutrunner market growth. The COVID-19 pandemic has negatively impacted the market. The Asia Pacific region is likely to lead the market in the future.

NEW YORK, July 26, 2022 /PRNewswire/ -- Research Dive has added a new report to its offerings titled, "Nutrunner Market by Type (Recyclable, Reusable, and Degradable), Application (Food & Beverages, Pharmaceuticals & Healthcare, and Chemical), and Regional Analysis (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2021-2028".

The global nutrunner market is expected to garner $1,180.2 million by 2028, growing at a CAGR of 4.2% from 2021 to 2028. The report delivers comprehensive insights into the current condition and future prospective of the industry by meticulously examining market drivers and restraints, opportunities, major segments, and regions.

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Key Segment Findings of the Nutrunner Market:                    

The market is segmented based on type, end user, and region.

• The pneumatic nutrunner sub-segment of the type segment is anticipated to observe highest growth and surpass $419.0 million in the estimated period. This growth is mainly because of the rising adoption of pneumatic nutrunner owing to its various advantages such as high precision, minimum vibration, and reduced noise.
• The automotive sub-segment of the end user segment is anticipated to lead the market and collect a revenue of $431.7 million in the estimated period. This growth is mainly because of the rising acceptance for advanced power tools like nutrunners in the automotive sector.
• Among region, the Asia Pacific nutrunner market is projected to observe speedy growth and garner $331.6 million in the estimated period. The growth of this region market is mostly owing to the rising investments in automation technologies and growing use of power torque tools in the manufacturing factories in this region.

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Nutrunner Market Dynamics

The key factor fueling the growth of the global nutrunner market is a significant rise in the investments in manufacturing industries and automotive sectors due to promising government policies as well as schemes across the globe. In addition, increasing demand for heavy construction as well as earthmoving equipment in the construction sector for demolition, materials handling, and other construction activities is projected to open doors to innovative opportunities for the market growth in the projected period. However, high cost of nutrunners and presence of substitutes in the market are estimated to deter the market growth during the forecast period.

Impact of the COVID-19 Pandemic on the Nutrunner Market:

The COVID-19 pandemic has made a negative impact on the growth of the global nutrunner market in 2020. In the pandemic period, several manufacturing factories has witnessed a substantial deterioration, due to execution of strict lockdown and restrictions on transport activities and disruptions in supply chains. As a result, the demand for nutrunners has significantly plummeted. All these factors are hindering the market growth amidst the pandemic period. However, with relaxation the pandemic crisis, the manufacturing sector is expected to boost its production, which is likely to fuel the nutrunner market in the coming years.

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Top Players of the Global Nutrunner Market

The major players of the global nutrunner market are

1. Techtronics Industries
2. Stanley Black & Decker
3. Atlas Copco AB
4. Robert Bosch
5. AIMCO
6. ESTIC CORPORATION
7. ITH Bolting Technology
8. DAI-ICHI DENTSU LTD
9. Ingersoll Rand
10. Maschinenfabrik Wagner GmbH & Co. KG, and others.

Numerous business strategies, such as acquisitions, mergers, R&D activities, new product developments, and much more, are implemented by these players to attain a strong position in the global market. For instance, in September 2020, Atlas Copco, a world-leading provider of sustainable productivity solutions, launched smart battery nutrunner range for offering faster, safer, more affordable and traceable high torque bolt tightening for precarious applications in the energy sector. This launch has strengthen the position of the Atlas Copco in the global nutrunner market. – Buy the Full report here

Moreover, the report offers other key details such as business tactics, financial performance, and product/service range of the leading players along with Porter's five forces analysis and SWOT analysis.

More about Nutrunner Market:

• Acquisitions Like That of Protec Fire and Security Group Ltd by Bosch Building Technologies to Drive the Growth of the Global Nutrunner Market
• What's the Difference Between a Nutrunner and a Standard Impact Wrench?

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