Surge in technological advancements and increase in demand for automation technology in manufacturing industry and are expected to drive the demand for United States nutrunner market through the forecast period, 2023-2027.
According to TechSci Research report, “United States Nutrunner Market By Type (Electric Nutrunner, Pneumatic Nutrunner, and Hydraulic Nutrunner), By Distribution Channel (In store and Online), By End-User Industry (Construction, Industrial, Automotive, and Others), By Region, Competition Forecast & Opportunities, 2027”, the United States nutrunner market is expected to grow at a steady CAGR in the forecast period, 2023-2027. The growing need to improve productivity, maximum process reliability, and quality control in the production line is expected to drive the demand of the United States nutrunner market. Nutrunner is used in precision fastening and assembly applications as it can offer tight torque control. Nutrunners are preferred over nut drivers as they are more compact, accurate, convenient, easy to use, and lower the overall operation time.
Nutrunner is a tool used for tightening nuts, bolts, and screws in tight spaces. There are different kinds of nutrunner available in the market, including electric nutrunner, pneumatic nutrunner, and hydraulic nutrunner. They are used for various applications in other industries such as aerospace, shipbuilding, engineering, and machinery as nutrunner provide adequate and safe solutions to enterprises. With the constant growth of the end-user industries and the need to manufacture fast and quality products, nutrunners are used in assembling lines.
However, the high initial purchasing cost of nutrunner and requirement of skilled labor to operate and daily interval maintenance of nutrunner may restrain the market growth in the forecast period.
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The United States nutrunner market is segmented into type, distribution channel, end-user industry, regional distribution, and company.
Based on type, the market is divided into electric nutrunner, pneumatic nutrunner, and hydraulic nutrunner. Electric nutrunner is dominating the market and is expected to maintain its dominance throughout the forecast period, 2023-2027. Electric nutrunner are lightweight and portable. Applications of electric nutrunner include beveling, reaming, expanding, tightening, taping, and turning. Electric nutrunner is used to manufacture small quantities. They offer high flexibility as they allow to operate in hard-to-reach positions and can easily accommodate frequent product changes. Also, growing customer expectations and cost pressure, and strict regulations producing quality products have led to increased adoption of electric nutrunner in industries to boost higher productivity and reliability.
Based on the distribution channel, the market is bifurcated into in store and online. The online distribution channel is expected to witness the fastest incremental growth in the next five years due to the shift in consumer preference to buy through online platforms. They offer enhanced convenience and comfort to customers instead of physically visiting the stores. Also, market players are offering products at lucrative discounts with additional facilities like quick doorstep delivery, warranty options, and easy exchange options, which is further expected to boost the United States nutrunner market growth in the forecast period.
Based on end-user industry, the market is divided into construction, industrial, automotive, and others. The construction industry is expected to capture a higher market share in the forecast period as it is one of the major contributors to the United States economy and requires the use of nutrunner for various applications. Construction of buildings requires fixing doors and windows for which nutrunner can be used as it speeds up the process.
Major market platers operating in the United States nutrunner market 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 Ltd.
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“Market players are launching advanced nutrunner with higher performance and accuracy than the traditional nutrunner to stay ahead. The launch of wi-fi enabled cordless nutrunner is expected to garner significant customer attraction as it provides complete control during operation, large display and allows the tool to connect to any mobile device. Increased investments in R&D activities by the market players to find innovative solutions to deliver fast, safe and cost-efficient nutrunner with higher battery capacity is expected to propel the United States nutrunner market growth till 2027” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“United States Nutrunner Market By Type (Electric Nutrunner, Pneumatic Nutrunner, and Hydraulic Nutrunner), By Distribution Channel (In store and Online), By End-User Industry (Construction, Industrial, Automotive, and Others), By Region, Competition Forecast & Opportunities, 2027”, has evaluated the future growth potential of United States nutrunner market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in United States nutrunner market.