The Global Heat Gun Market to Reach Revenues of Over $1.4 Billion by 2024 - Market Research by Arizton

CHICAGO, Nov. 5, 2019 /PRNewswire/ -- According to Arizton's recent research report, Heat Gun Market - Global Outlook and Forecast 2019-2024 is expected to grow at a CAGR of around 5% during the forecast period.

Key Highlights Offered in the Report:  

1. The growing culture of DIY, across both developed and developing economies is expected to generate demand for DIY tools, including heat guns, contributing to the growth for heat guns.
2. The exponential growth of industries such as automobile, electronics, and construction will fuel the growth of industrial heat gun market, contributing absolute growth of $158 million during the forecast period.
3. The rising environmental concerns and increasing prices of natural gas, would result in the declining sales of gas-powered equipment. The market share of gas-powered heat gun is expected to decline during the forecast period
4. Heat gun market is dominated by the APAC region, with China accounting for over 14% of the market share.
5. Over the years, the average price of the product has been declining owing to the maturing heat gun technology and lowering price of raw materials.

Key Offerings:

• Market Size & Forecast by Revenue | 2018−2024
• Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
• Market Segmentation – A detailed analysis by product type, application, power type, and geography.
• Competitive Landscape – Profile of 22 vendors are offered in the report.

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Heat Gun Market – Segmentation

• In 2018, the variable temperature heat guns dominated the market, generating approximately 50% of the revenue.
• The growing need to reduce carbon emissions and increasing preference for battery-powered over fuel-powered devices are expected to fuel the growth of the mechanical guns over gas devices.
• The increasing application for renovation and remodeling such as removal or glue-on coverings, building materials, removing wallpapers and various other surfaces is a major driver for the growth of the commercial heat gun market.

Market Segmentation by Product Types

• Variable Temperature
• Dual Temperature

Market Segmentation by Application

• Industrial
• Commercial
• Residential

Market Segmentation by Power Type

• Electric
• Gas

Heat Gun Market – Dynamics

The growth of PVC or TPO roofing is expected to drive the market for heat guns. With the growth of the construction industry, rapid urbanization, and technological innovation, the single-ply roofing market is expected to witness significant growth during the forecast period. The global single-ply roofing market is expected to grow at a CAGR of 8% during the forecast period, thus generating a high demand for heat guns in the roofing industry.

Key Drivers and Trends fueling Market Growth:

• Demand for Eco-friendly Paint Removal Methods
• Rising Use of Heat Guns in Medical Industry
• Growing DIY Culture
• Rise in Product Innovations

Heat Gun Market – Geography

Globally, the APAC region is the highest revenue generator. The region hosts several industries, which includes manufacturing, automobiles, and electrical, which find the increased use of heat gun device. The comparatively safe and simpler operating procedure than other heavy instruments in the residential or household usage is generating widespread demand for heat guns in the North American market. The UK, Germany, and France are the major markets in the European region. Finland and Poland are expected to be promising markets due to the increasing purchasing and increased industrial growth. The increasing infrastructural development in countries such as Peru, Chile, and Colombia, is expected to provide growth opportunities for the heat gun market during the forecast period.

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Market Segmentation by Geography

• APAC
• China
• Japan
• South Korea
• Australia
• Europe
• Germany
• UK
• France
• Latin America
• Brazil
• Mexico
• MEA
• Saudi Arabia
• UAE
• North America
• Canada
• US

 Vendors Profiled in the Market are:

• Aikou
• Apex Tool group
• Bosch
• Dongcheng Tools
• Enertwist
• Galaxia Tech
• Genesis
• Hitachi-Koki
• Makita Corp.
• Master Appliance Corp.
• Mowis
• Poniie
• Rexbeti
• Seekone
• SparkFun Electronics
• Stanley Black & Decker
• TackLife
• Teccpo
• Techtronic Industries (TTI)
• The Steinel Company
• Wagner Group
• Zhejiang Prulde Electric Appliance Co. Ltd

Explore our consumer goods & retail technology profile to know more about the industry.

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SOURCE Arizton Advisory & Intelligence