The global electric screw gun market is expected to post a CAGR of close to 5% during the period 2019-2023, according to the latest market research report by Technavio
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Technavio has released a new market research report on the global electric screw gun market for the period 2019-2023. (Graphic: Business Wire)
A key factor driving the growth of the global electric screw gun market is the growth of the housing industry. The global housing industry is expanding rapidly, thanks to the significant increase in the flow of investments for building new homes and renovating old ones. With the swelling urbanization, changing lifestyles, population explosion, and technological advancements, the growth in the housing market is never-ending. This, in turn, increases the demand for power tools, including electric screw guns.
This market research report on the global electric screw gun market 2019-2023 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the rising demand for cordless electric screw guns as one of the key emerging trends in the global electric screw gun market:
Global electric screw gun market: Rising demand for cordless electric screw guns
The strong growth of electric screw guns is attributable to the rising demand for quicker, mobile, and convenient power tools solutions. A cordless electric screw gun is lightweight, and unlike corded electric screw guns, it does not need a continuous flow of electricity, making its maneuverability easy. Most prominent manufacturers are coming up with cordless screw guns by incorporating efficient and lightweight lithium batteries. Consequently, the demand for corded screw guns is declining, and this trend is expected to continue across regions over the forecast period.
"With the growing trend of online retailing or selling, the sales of electric screw gun through this channel is growing at an unprecedented rate. The online distribution channel is a cost-effective option for both emerging and established vendors of power tools, including electric screw gums. This trend is expected to have a positive impact on market growth," says a senior analyst at Technavio.
Global electric screw gun market: Segmentation analysis
This market research report segments the global electric screw gun market by product (cordless, and corded) and geographical regions (APAC, EMEA, and the Americas).
The Americas region led the market in 2018 with a market share of over 45%, followed by EMEA and APAC respectively. Although the APAC held the smallest share of the market in 2018, it is expected to register the highest incremental growth during the forecast period.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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