Nutrunner Market Size, Share | Industry Analysis 2023
The global nutrunner market size was valued at USD 827.4 million in 2022 and is poised to grow at a significant CAGR of 4.4% during the forecast period 2023-29. The primary drivers of the expansion of the global nutrunner market include the growing construction and automotive sector and the increasing income of middle-class people in emerging countries. The global nutrunner market further reveals that the key players are increasingly adopting strategies such as the launch of newer products, product launches, and long-term alliances to improve market revenue share and gain significant geographic presence across the region.
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The global nutrunner market segmentation:
- By Product Type: Electric Nutrunner, Pneumatic Nutrunner, and Hydraulic Nutrunner
- By End User: Residential Applications, Construction Application, Automotive Application, and Others
Based on the product type, the global nutrunner market can be segmented into Electric Nutrunner, Pneumatic Nutrunner, and Hydraulic Nutrunner. The pneumatic nutrunner segment is expected to account for a larger revenue share in the global nutrunner market, with a value share worldwide. Pneumatic nutrunners are generally lighter and smaller in size than other electric tools but it offers the same amount of power and efficiency. It can also be easily adjusted. Hence, this segment will dominate the global market in the upcoming years.
Asia Pacific Nutrunner Market
The Asia Pacific market is expected to increase in the global nutrunner market over the forecast period. The Asia Pacific market is expanding as a result of the various applications in the automobile and construction industry and increasing income in this region. North America held considerable market share during the estimated period owing to the high spending in the construction industry and increasing usage of smart vehicles.
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Key players’ profiles in the nutrunner market report are Aimco Global, Atlas Copco AB, Bosch Rexroth AG, Dai-Ichi Dentsu Ltd., Estic Corporation, Ingersoll, Rand Inc., ITH bolting Technology, Maschinenfabrik Wagner GmbH & Co.AG, Sanyo Machine Works, and Stanley Engineered Fastening.
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