Home > Industrial Machinery > Industrial Equipment > Tools > Assembly Fastening Tools Market

Assembly Fastening Tools Market Trends

Report ID: GMI7436
Published Date: Nov 2023
Report Format: PDF

Download Free Sample

Assembly Fastening Tools Market Trends

The need for assembly fasteners is rising across a range of end-use industries, including construction, heavy machinery, semiconductor, and electronics, automotive, and aerospace and defense. Assembly fasteners are utilized for strong load bearing capacity, quick assembly and disassembly during transit, and permanent and temporary joining. Market participants in the worldwide market for assembly fastening tools include concentrating on boosting fastener production to meet the needs of diverse end-use sectors around the world. Due to their low maintenance requirements and affordability, these fasteners are extensively used in many end-use sectors.

Authors: Avinash Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

The market size of assembly fastening tools was worth USD 3.32 million in 2022 and is anticipated to register a CAGR of over 4.4% between 2023 and 2032, favored by the rapid industrialization, especially in sectors like automotive, construction, and manufacturing.

Right angle tool segment accounted for over 40% market share in 2022 and is projected to grow through 2032. The primary advantage of right angle tools is their ability to access tight or confined spaces where traditional tools may not fit.

The U.S. assembly fastening tools market was worth over USD 664 million in 2022, backed by the booming automotive manufacturing sector in the region, driving demand for precision fastening tools, especially in the production of conventional and electric vehicles.

Stanley Black & Decker, Robert Bosch GmbH, Hilti Corporation, Makita Corporation, Atlas Copco, Ingersoll Rand, and Snap-on Incorporated.