Nutrunners come under the industrial torque wrench family and are also known as the pneumatic torque wrench. These are a series of tools that are used to tighten nuts, bolts, and screws in conditions where torque is crucial. Nutrunners are often used in heavy construction industries, such as mining, steel, railroad, mining, manufacturing, and many others where the tightness of a bolt or nut requires to meet certain specifications. Also, nutrunners act as safe options for jobs involving gases, flammable liquids, and chemicals.
Forecast Analysis of the Global Nutrunner Market
With the increasing supportive government schemes and policies to amplify investment in the automotive sectors, the market is expected to witness striking growth during the analysis timeframe. Besides, the increasing standard of living worldwide, stringent government regulations on vehicle emission levels, and increased population are the factors expected to fortify the growth of the nutrunner market during the estimated timeframe. Moreover, the growing demand for earthmoving equipment which is used for a wide range of work is expected to bolster the growth of the market by 2028. However, electric nutrunners are costly and heavier than pneumatic nutrunner, which is the factor that may hinder the growth of the market throughout the estimated timeframe.
According to the report published by Research Dive, the global nutrunner market is expected to generate a revenue of $1,180.2 million and rise at a CAGR of 4.2% during the analysis period from 2021-to 2028. The major players in the market include DAI-ICHI DENTSU LTD, AIMCO, Ingersoll Rand, Techtronics Industries, ITH bolting Technology, Robert Bosch, Maschinenfabrik Wagner GmbH & Co. KG, Atlas Copco AB, ESTIC CORPORATION, Stanley Black & Decker, and many more.
Avail Complete [ 175-pages ] PDF Sample Report Of Nutrunner Market@ https://www.researchdive.com/download-sample/8581
Key Developments
The key companies operating in the industry are adopting various growth strategies & business tactics such as partnerships, collaborations, mergers & acquisitions, and launches to maintain a robust position in the overall market, which is subsequently helping the global nutrunner market to grow exponentially.
For instance, in July 2021, McLaren Racing, a leading British motor racing team, announced its partnership with Stanley Black & Decker, a Fortune 500 American manufacturer of industrial tools and household hardware. With this partnership, the companies aimed to make the world’s largest tools with the implementation of modern technologies.
In October 2021, Bosch Building Technologies, a leading Germany-based company focused on designing and installation of energy efficiency projects for the industrial and commercial sector, acquired Protec Fire and Security Group Ltd., a renowned US-based fire detection and security company. With this acquisition, the companies aimed to expand their business in the European market with innovative products and service offerings.
In June 2020, Milwaukee, a tool division of Techtronic Industries Co. Ltd, which is a Hong Kong-based company that designs, produces, and markets power tools, outdoor power equipment, and many more, launched its new product named “1” D-Handle High Torque Impact Wrench”. This particular product is designed to speed up the applications of 2” bolts and provide various features with 2,000 ft-lbs of nut-busting torque.
Avail 10%OFF on Report Customization of Nutrunner Market@ https://www.researchdive.com/request-for-customization/8581
Most Profitable Region
The Europe region of nutrunner market is expected to have the largest share and generate a revenue of $393.0 million by 2028. This is mainly because of the high adoption of power torque tools in the automotive, heavy machinery, and mining industry in this region. In addition, the strong existence of leading earthmoving, automotive, and industrial machinery manufacturers is predicted to drive the regional growth of the market over the estimated period.
Connect with Analyst to Reveal How COVID-19 Impacting On Nutrunner Market@ https://www.researchdive.com/connect-to-analyst/8581
Covid-19 Impact on the Market
With the rise of the Covid-19 pandemic, the global nutrunner market has experienced a negative impact, likewise, in several other industries. Governments of many nations have imposed strict regulations on non-essential travel and transport to control the spread of the virus. This has disrupted the supply chain of raw materials and hence, declined the sales of nutrunners. Furthermore, there was a lack of skilled workforce due to social distancing norms which have delayed the ongoing manufacturing activities. All these factors have affected the growth of the nutrunner market during the pandemic period.
About Research Dive
Research Dive is a market research firm based in Pune, India. Maintaining the integrity and authenticity of the services, the firm provides the services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With an unprecedented access to several paid data resources, team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable. Scrutinizing relevant news releases, government publications, decades of trade data, and technical & white papers, Research dive deliver the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge.
Contact:
Mr. Abhishek Paliwal
Research Dive
30 Wall St. 8th Floor, New York NY 10005
(P) +91-(788)-802-9103 (India)
+1-(917)-444-1262 (US)
Toll Free: 1-888-961-4454
E-mail: support@researchdive.com
Website: https://www.researchdive.com
Blog: https://www.researchdive.com/blog/
LinkedIn: https://www.linkedin.com/company/research-dive/
Twitter: https://twitter.com/ResearchDive
Facebook: https://www.facebook.com/Research-Dive-1385542314927521
Sign in to leave a comment.