Handheld Nutrunner Market Size, Share, Growth, and Industry Analysis, By Type (Pistol, Angle, Straight and Others), By Application (Automotive, Transportation, Machinery Manufacturing and Others), Regional Insights, and Forecast To 2032

HANDHELD NUTRUNNER MARKET REPORT OVERVIEW

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global  handheld nutrunner market size was USD 331.8 million in 2019 and market is projected to touch USD 575.46 million by 2032 at CAGR 4.3% during the forecast period.

A power tool that can be used to manually tighten or loosen nuts and bolts is a portable nut runner. It can be utilised for a variety of tasks both indoors and outdoors, such as vehicle repair, business building, plumbing, and house remodelling. In addition, handheld nut runners are incredibly compact when compared to other kinds of power tools. The use of these kinds of tools is widespread among both experts and do-it-yourselfers. The automobile industry's growing demand and the rise in automation in many other industries are the main drivers of this growth.

COVID-19 Impact: Post Pandemic Situation Resulting in Rising Awareness of Hygiene to Raise the Market Demand

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

The demand for portable electric nutrunners has decreased as a result of the COVID-19 pandemic epidemic's negative impact on the global economy. The lockdown imposed by numerous countries worldwide has hindered the manufacture of handheld electric nutrunners. Amidst lockdowns and economic worries, numerous industries, including automotive, aerospace, and manufacturing, experienced a decline in demand for their products. Because these tools are frequently employed in production and assembly operations, there was a decrease in the market for handheld nutrunners.

LATEST TRENDS

"Battery Technology, Wireless Connectivity and Digital Torque Control to Accelerate the Market Growth"

More potent and long-lasting batteries for handheld tools have been developed as a result of advancements in battery technology. Rechargeable nutrunners with large capacities are in high demand since they are effective and portable for a range of uses. Precise torque measurement and adjustment are possible with handheld nutrunners equipped with digital torque control features. In businesses where precise torque levels are essential for product quality and safety, this capability is essential. Wireless nutrunners are gaining traction due to their adaptability and simplicity of usage. Because they support cordless operation, employees may move around freely without being constrained by cords. Data transmission and monitoring are further facilitated by wireless communication.

HANDHELD NUTRUNNER MARKET SEGMENTATION

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• By Type

Based on type the global market can be categorized into pistol, angle, straight and others.

With a pistol-style grip for user comfort, the Pistol Handheld Nut Runner is a lightweight, portable handheld nut runner. Because of their ergonomic designs, many kinds of equipment are simple to operate even in confined areas with little room for manoeuvring. An example of a power instrument used to tighten and loosen nuts is the angled handheld nut runner. An adjustable holding system, spindle, and chuck are the parts of an angle handheld nut runner's working mechanism that allow it to spin the bit in a single direction while holding it in place. A strong instrument for tightening or loosening nuts and bolts on a variety of surfaces is a straight handheld nut runner. These kinds of tools work well on machines, automobiles, and trucks because they make it possible to tighten screws rapidly and effectively without requiring further help from others.

• By Application

Based on application the global market can be categorized into automotive, transportation, machinery manufacturing and others.

One of the main end-use markets for handheld nut runners is the automotive sector. Due to their status as two of the world's largest vehicle producing regions, Asia Pacific and North America in particular have a significant demand for these kinds of items. Because of its benefits, including accuracy and speed, the transportation industry is using handheld nut runners more and more. The production of machinery, where they are frequently used for maintenance, is the next biggest end-user of handheld nut runners, after the automotive and transportation industries. Because machinery parts need to be replaced frequently, a lot of handheld nut runners will be needed, which has fueled the market for these runners' expansion in the equipment manufacturing industry.

DRIVING FACTORS

"Trend Towards Automation in the Manufacturing Process to Boost the Market Sales"

Handheld nutrunners are among the effective and accurate equipment needed for assembly and tightening jobs, given the growing trend towards automation in production processes. Handheld nutrunners are in constant demand in industries including automotive, aerospace, electronics, and energy since they are essential to assembly and maintenance procedures in these fields.

"Cost Effectiveness and Improved Quality to Level Up the Market Growth"

Over the next few years, the market for handheld nut runners is anticipated to expand steadily due to a number of factors, including the products' growing popularity across a range of end-user industries, affordability, and increased quality. Recent product launches have grown due to the growing need from the automobile industry for portable, accurate, and robust nut runners; this will help the market. In situations where exact torque control is required to guarantee that nuts and bolts are tightened to the proper specifications, handheld nutrunners are indispensable. Maintaining product quality and safety requirements depends on this accuracy. Handheld nutrunners are an affordable way to complete assembly jobs. Long-term cost reductions are achieved by their assistance in streamlining production procedures, cutting down on assembly time, and minimising errors.

RESTRAINING FACTORS

"Certain Operational Limitations to Impede the Market Growth"

Although portable nutrunners are indispensable instruments for many assembly and tightening duties, users must acknowledge their limitations.  There is a limited torque range that handheld nutrunners can handle efficiently. It may be required to use specialised tools for tasks requiring exceptionally high or low torque. Despite being made for precision, nutrunners' accuracy can be impacted by a variety of reasons, including material and environmental variances, wear and tear, and calibration problems. The operator's reach is the limit of handheld nutrunners. Getting to the fasteners in applications located in confined or difficult-to-reach areas can present difficulties. Significantly, the handheld nutrunner market growth is being impeded by operational limits.

HANDHELD NUTRUNNER CLEANERS MARKET REGIONAL INSIGHTS

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"Asia Pacific to Dominate the Market due to Rapid Industrialization and Technological Advancements"

Because more end-user segments primarily automotive, transportation, and machinery manufacturing are using these tools, the Asia Pacific region is expected to develop at the fastest rate of compound annual growth over the projected period. Major manufacturing hubs including China, Japan, South Korea, and Taiwan are home to several electronic and automotive businesses. The nutrunner market has grown as a result of these nations' quick industrialization and technical developments. China is a major producer and consumer of industrial equipment, and the Asia Pacific region is expected to hold the largest handheld nutrunner market share.

KEY INDUSTRY PLAYERS

"Key Industry Players Shaping the Market through Innovation and Market Expansion"

Important industry players have a big impact on the market and are crucial in determining customer preferences and market dynamics. These major firms provide consumers easy access to a vast array of clothing alternatives through their huge retail networks and online platforms. Product adoption has increased as a result of their strong worldwide presence and well-known brand, which has also enhanced consumer trust and loyalty. These industry titans also consistently fund R&D, bringing cutting-edge designs, materials, and clever features to handheld nutrunner cleaners to meet changing customer demands and preferences. These big businesses' combined efforts have a big impact on the market's future direction and level of competition.

LIST OF TOP HANDHELD NUTRUNNER COMPANIES

• Atlas Copco (Sweden)
• Bosch Rexroth (Germany)
• Apex Tool Group (U.S.)
• STANLEY Engineered Fastening (U.S.)
• ESTIC Corporation (Japan)
• Ingersoll Rand (U.S.)
• ALFING Montagetechnik GmbH (AMT) (Germany)
• Dai-ichi Dentsu Ltd. (Japan)
• Sanyo Machine Works (Japan)
• Maschinenfabrik Wagner (Russia).

INDUSTRIAL DEVELOPMENT

January 2019: In January 2019, Atlas Copco unveiled the QEHS range of electric nutrunners. Applications for the new series include general engineering, aerospace, and the automotive sector.

REPORT COVERAGE

The report includes a thorough SWOT analysis and offers predictions for market growth in the future. It explores a broad range of market categories and possible applications that might have an impact on the market's trajectory in the upcoming years, as well as key aspects that contribute to the market's growth. The research provides a comprehensive overview of the market's components and identifies possible growth opportunities by taking into account both historical turning points and present trends.