Electric Screw Drivers Market Size, Share & Industry Analysis, By Type (Cordless Electric Screw Driver, Corded Electric Screw Driver), By Electric Current (AC Electric Screw Driver, DC Electric Screw Driver), By Application (Industrial, Commercial, Residential) And Regional Forecast, 2024-2032

Electric screw driver is an electric motor-driven mechanical power tool. It is a portable device that is primarily utilized for screwing and unscrewing functions. The head of screw driver is equipped with a bit holder that allows to quickly insert the bit to screw head. Cordless electric screw driver expresses higher tightening torque in case of furniture assembly whereas corded electric screw driver is utilized for intensive usage in industry assembly station or in a mechanical workshop.

The emergence of electric screw driver is attributed to its features including, torque control for ensuring accuracy in ergonomics, low noise & high efficiency, anti-slip egg-shaped design to ensure comfortable operation and ease of handling. For instance, Atlas Copco’s ‘EBL Screw Driver’ is designed to utilize for electric low torque screw drivers with supreme operator comfort. Additionally, utilization of electric screw drivers with subtle adjustments is certainly shaping manufacturing projects across countries including, China, India, U.S., Malaysia, Germany, Italy and others.

The adoption of electric screw driver is increasing in recent years. It is owing to, its distinctive features and capabilities in various industrial applications including, IT & telecommunication, aerospace & defence, machinery, automotive, energy etc. Additionally, key manufacturers are focused on strategic mergers and acquisitions with regional and local players to penetrate the product in residential applications, that is ultimately boosting the growth of the market. Considering all these factors, the global electric screw drivers market is expected to observe bolstering growth in the forecast period.

However, COVID-19 outbreak has drastically affected the electric screw drivers market globally. The manufacturing and re-manufacturing units have stopped production as, lockdown has broken the transportation processes. Moreover, the factory activities are knotted down across most of Asia and Europe in March as the aforesaid outbreak has paralyzed economic activity across the world. The industries including construction, automobile, etc. are suffering from delays in the project works in the year 2020, owing to the sudden COVID-19 outbreaks. Also, the constructional work in residential and commercial sectors have been halted down for undefined time, that is indirectly affecting the growth of electric screw drivers market across the globe. Considering all these factors, the electric screw drivers market is expected to witness major downfall in the year 2020. Though, on a long-term basis, the outlook seems dynamic for the aforesaid market with attractive expansion opportunities for the market players in years to come.

Key Players Covered:

Key players operating in the global Electric Screw Drivers market are Robert Bosch Power Tools GmbH, Hitachi, Ltd., Kolver srl, Kilews Industrial Co., Ltd., Suzhou Everich Imp. & Exp. Co., Ltd., Stanley Black & Decker, Inc., Atlas Copco, LUN-YUAN ENTERPRISE CO., LTD., Chevron Holdings Limited, Makita Corporation, Harbor Freight Tools USA Inc., Chevron Holdings Limited, FEIN Power Tools Inc., The Positec Tool Corporation, Metabowerke GmbH, Mountz Torque, Sumake Industrial Co., Ltd., ASA Enterprise Corp., Himax, Ingersoll-Rand plc, ASG, Division of Jergens, Inc. and others.

Regional Analysis

Asia Pacific is expected to witness highest compounded annual growth rate (CAGR) in the forecast period. It is owing to, the development in construction sector across residential, commercial and industrial applications across India, China, and Oceania countries. Additionally, government initiatives to enhance the efficiency of industrial projects is fueling the growth of global electric screw drivers market.

North America is expected to witness substantial growth as; it is relatively the matured market with substantial construction expenditure. Also, the market players across U.S. and Canada have potential to expand their business portfolio in cross country market.

Europe is anticipated to witness steady growth, owing to the constant demand for precision electric screw drivers across commercial projects. Additionally, the presence of leading manufacturers including, Atlas Copco AB, Robert Bosch Power Tools GmbH, Kolver srl and others is complimenting the steady growth across European countries.

Middle East and Africa and Latin America are expected to witness fast growth with effect of increased investment in infrastructural developments across Brazil, United Arab Emirates and other countries. Moreover, the manufacturers are finding these regions to be potential to aggressively penetrate the product range of electric screw drivers.

Segmentation

Key Industry Developments

• March 2020: Makita U.S.A., Inc., a subsidiary of Makita Corporation introduced ‘Impact XPS’, the latest line of bits and fastening accessories for hard hitting impact drivers, screwdrivers and drills. The newly introduced ‘Impact XPS’ is engineered to last for nearly 90 times longer than standard bits.


• October 2018: Kolver srl introduced ‘K-Ducer’, an electric screwdriver with the built-in transducer that is fully compatible with industry 4.0. K-Ducer is also known as transducerized electric screwdriver.