Fastening Power Tools Market Size, Share, by Product Type (Cordless Drill, Nail Gun, Electric screwdriver, Rivet Tool, Wrenches, and Others), Technology (Manual, Electric, Pneumatic), Application (Heavy Equipment, Automotive, Aerospace & Defense, Electricals, Construction, and Others), Distribution Channel (Online and Offline), and Region - Trends, Analysis, and Forecast till 2035

• By 2035, the target market is expected to increase at a rate of USD 7.8 Billion.
• In 2024, the Fastening Power Tools Market size was accounted for USD 3.9 Billion.
• The market is expanding at a 7.3% CAGR.

An fastening power tool is an essential instrument in household and industrial settings, enabling users to join two or more objects together. The fastening power tools play a crucial role in construction, manufacturing, maintenance, and DIY projects. The target market is driven by the applications of fastening tools in the industry that produces tools used for fastening in automotive, aerospace, and other industries. Fastening power tools are used in assembly operations and are generally made from alloy or plastic. Thus, advances in fastening technology will drive the target market in upcoming years.

Impact of AI in Fastening Power Tool:

Artificial Intelligence (AI) has play significant role in the power tools industry by adopting human work styles, automatically adjusting settings to enhance performance, and taking on routine tasks. AI helps to enhancing equipment efficiency by continuously monitoring each component for optimal performance. Artificial intelligence (AI) helps to reduce labor costs and improve efficiency by transforming construction site into a synchronized work field.

Key Drivers of Target Market:

Increasing Advancements in Machine Tooling is Expected to Drive Market Growth

Fastening power tools are becoming more efficient, precise, and easy to use due to advancements in technology of machine tooling. The advancements in technology includes, smart features of machine that allows users to monitor tool performance, ergonomic design that enhance grips, and reduce vibrations that make tools more comfortable to use, and the major advancement in energy efficiency to use less energy and reduce power emission.

• For instance, in October 2024, Bosch Power Tools introduced a new hand tools and specialized press tools for plumbers. The company expanding their 18V cordless platform and launching new 30 tools that focus on versatility and making power tools more efficient and user-friendly. The latest tools, including the 18V Cordless Palm Router, Angle Grinders, a new generation of interior leveling lasers, and the hand tool utility knife collection and 18V Press Tool Kits, offer features such as durability, ergonomic designs, and powerful brushless motor technology.

Increasing Acceptance of Battery-Powered Tools is Anticipated to Boost Market Growth

The battery powered tools are cordless, and they can be used in areas without access to electricity. Battery powered tools used in various cordless equipment, such as impact wrenches, circular saws, hammer drills and others in industrial and residential use. The cordless power tools gives comfort to use and safety with their ergonomic designs. This generate less material waste by eliminating the production and disposal of extension cords, furthering driving  the Fastening Power Tools Market growth. The demand for more mobile, flexible, and compact tools can drive the target market for battery-powered or cordless tools.

• For instance, in March 2024, Chicago Pneumatic launches new eBlueTork Series of battery torque wrenches for heavy commercial vehicles. The CP8609 series designed for rapid and accurate tire changing on large vehicles, such as buses, trucks, and waste collection. It enhanced the operator feature and passenger safety in batter powered tools operations. 

Restraints:

High Maintenance Cost and Raw material Price Variation Can Disrupt the Target Market Growth

The raw material required for the power tool manufacturing, such as steel, plastic, rubber, and batteries, makes significant fluctuations in target market. Power tools require regular maintenance, components, such as drive belts, motors, batteries, and power tool accessories that require frequent maintenance for proper functioning.

• Counterbalance Statements:  Discover the strategies for managing price fluctuations and supply chain disruptions and focus on continuous improvement. The cost of maintenance can be reduced by using AI algorithms. AI help adopt human workstyle to maintain power tool accessories and process.

Opportunities & Market Trends:

Rising Demand for Smart Tools Fuels the Market Expansion

Smart tools becoming popular as they offer better control and monitoring. Power tools are incorporating smart features, such as IoT connectivity, mobile applications, and AI power tool becoming prevalent, convenient, and enhances efficiency. This smart tool enable users to monitor tool performance, access usage data, and receive alerts for productivity and better user experience. Advanced safety mechanisms in the smart tools gives significant opportunity to expand target market globally.

The Fastening Power Tools Market is classified into product type, technology, application, distribution channel, and region.

Product Type:

Cordless drill, nail gun, electric screwdriver, rivet tool, wrenches, and others are the segments by product type. The cordless drill segment holds a dominant Fastening Power Tools Market share as they allow to work without having any access of electric connections. It is used in outdoor projects, such as large construction sites with the rechargeable battery technology. It reduces the risk of accidents and improves overall work efficiency.

• For instance, the article published by DAP Ltd, in February 2024, this article highlights, the impact of battery technology on power tools manufacturing. The power tool evolved from corded to cordless tools has changed professionals and DIY enthusiasts. The lithium-ion batteries have higher energy density, light weight, and longer lifespan as compared to other batteries. Thus, these batteries are used in cordless drill to significantly improve performance of cordless tools and manufacturing practices.

Technology:

The Fastening Power Tools Market, by technology is segmented into manual, electric, and pneumatic. The pneumatic tools segment is leading the target market due to their high power and probability. The pneumatic tools use compressed air to perform work, as air compressor supplies compressed air to tool. It is applicable in industries, such as metal fabrication, woodworking, automotive, and others.

Application:

By application, Fastening Power Tools Market is categorized into heavy equipment, automotive, aerospace & defense, electrical, construction, and others. The power tools are widely applicable in construction site, thus, construction segment is dominate in target market size. The power tools, such as power drill, circular saw, angle grinder, and others are used to join objects together and are also used for cutting, drilling, fastening, and shaping materials, which generates significant demand among professionals.

• For instance, in October 2024, DeWalt launched their new Trak-It C6 Gas Concentrate Nailer. It accepts pins from the Cordless Concrete Nailer (CCN) for the construction purpose. The new Track-It C6 Gas Concrete Nailer become efficient for the professionals working with concrete industries.

Distribution Channel:

Based on distribution channel, the target market is categorized into online and offline. The offline market plays dominating role, since they have ability to provide hands-on experience, personalized service and immediate access to products. It reduces the risk of damaged products.

Region:

Geographically, the market is studied across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

North America: North America dominates the fastening power tools market owing to increasing development strategies made by various industry in this region. Also, raising demand for households DIY, interior design and increasing construction sites throughout this region, increase the demand for the fastening power tools in the market.

• For instance, in August 2024, DEWALT, launched their new product, a XR Tool for beat performance at 20V MAX batteries and power tools. The new 20V MAX XR 3/4 in. and 1/2 in. High Torque Impact Wrenches, 20V MAX XR 1/4 in. offer users to meet a maximum torque for heavy-duty applications for quiet operations in noise-sensitive environment.

Asia Pacific: Asia Pacific is expected to the second-leading region in the target market over the forecast period due to the advancements in technology and availability of innovative power tool solutions. Also rapid urbanization, increasing disposable incomes in China, India, and South Korea is expected to drive target market in upcoming years.

Fastening Power Tools Market Report Scope:

Segmentation:

By Product Type:

• Cordless Drill
• Nail Gun
• Electric screwdriver
• Rivet Tool
• Wrenches
• Others

By Technology:

• Manual
• Electric
• Pneumatic

By Application:

• Heavy Equipment
• Automotive
• Aerospace and Défense
• Electricals
• Construction
• Others

By Distribution Channel:

• Online
• Offline

By Region:

• North America
  • U.S.
  • Canada

• Europe
  • Germany
  • U.K.
  • France
  • Russia
  • Italy
  • Spain
  • Netherlands
  • Rest of Europe

• Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • Indonesia
  • Malaysia
  • South Korea
  • Rest of Asia Pacific

• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of Latin America

• Middle East & Africa
  • GCC
  • Israel
  • South Africa
  • Rest of Middle East & Africa

The key players operating in the Fastening Power Tools Market include Hitachi Ltd, Stanley Black & Decker, Inc, DEWALT, and others. These companies are focusing on new product launch, product approvals, and partnerships & collaborations. These factors expand the target market and gives growth opportunities in the future years.

List of Key Players in the Market:

• Hitachi Ltd
• Stanley Black & Decker, Inc
• DEWALT
• FEIN
• makita
• Koki Holdings Co
• Max Co. Ltd
• Hilti
• Techtronic Industries Co. Ltd.
• Wacker Neuson SE
• SENCO
• Ingersoll Rand
• Snap-on Incorporated
• Sumake Industrial Co. Ltd.
• Alberta Investment Management Corporation

• In November 2024, Makita launched their high-quality professional tools, power equipment, and accessories known as 18V LXT Brushless 4-Speed Impact Driver (XDT20). The product sets new standards for speed sections for precise fastening control with wide range of applications in industrial level. The aim of Impact Driver features assist Mode (A-mode) is to help eliminate “screw Cam-out” and “cross threading” by driving at low speed until tightening begins. The XDT20 delivers industry-leading performance in a compact and ergonomic design.
• In January 2024, Hilti launched their new product, the cordless tools of the SC 6WP- 22V plunge saw, a neuron battery aimed to wood, fiberboard, and other materials that require cutting. The 22V Neuron battery, is cordless technology, offering better flexibility and suitability with compromising power. The 6 ½" saw has been engineered for cutting speed and dust collection efficiency for a safer and more productive plunge cutting option. The SC 6WP-22 will run along Hilti's 55" track and is compatible with other tracks in the market.

Analyst View:

Fastening power tool is a device used in DIY projects, industry, household objects. Technological innovation, such as smart tools, battery-powered tools, and AI can increase the target market growth. Also, increasing demand for fastening tools in industries, such as, construction, automotive, and manufacturing lead to drive the target market share in upcoming years.

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