Fastening Power Tool Market to attain a Valuation of US$ 6,512.5 million by 2034, expanding at a 6.4% CAGR | Fact.MR

The demand for customizable, modular power tools is expected to drive growth by enhancing versatility and efficiency for specific applications.

ROCKVILLE, MD, UNITED STATES, March 6, 2025 /EINPresswire.com/ -- The fastening power tool market is expected to grow at a 6.4% CAGR between 2024 and 2034, according to Fact.MR. By 2034, the global market for these products is expected to reach US$ 6,512.5 million. According to Fact MR, a provider of market research and competitive intelligence, the global fastening power tool market is rapidly growing and is expected to continue its growth trajectory in the coming years.

The fastening power tool market is expected to see significant growth in emerging markets due to increasing industrialization and infrastructure development in these regions. Government initiatives promoting infrastructure development and industrial growth can positively impact the fastening power tool market. The replacement of outdated or worn out power tools in various industries is expected to augment the demand for newer, more advanced fastening tools. Large scale infrastructure projects, such as roads, bridges, and airports, are expected to propel the sales of fastening power tools, especially in regions with significant infrastructure development initiatives.

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Integration of Industry 4.0 principles, such as automation, data exchange, and connectivity in manufacturing processes, can lead to the adoption of advanced fastening power tools with smart capabilities. Fastening power tools with capabilities suited for these materials may experience higher demand, as industries increasingly use lightweight and durable composite materials. The integration of collaborative robots in manufacturing processes is expected to create opportunities for fastening power tools designed to work alongside human operators, enhancing efficiency and productivity.

Key Takeaways from the Market Study

The global fastening power tool market is projected to reach a market size of US$ 3,502.1 million in 2024, driven by increasing demand across construction and industrial applications. Among the various product segments, the rebar tier is anticipated to dominate the market with a 31.2% share in 2024, owing to its efficiency in fastening rebar structures quickly and securely.

Looking ahead to 2034, the retailer’s category is expected to maintain a significant presence in the market, securing a 39.9% market share due to the growing accessibility of fastening power tools through online and offline retail channels. The United States is set to hold a commanding 67.1% share of the global market in 2024, reflecting strong demand from infrastructure development and industrial expansion.

Regionally, North America is forecasted to exhibit a steady growth trajectory, with a CAGR of 6.6% by 2034, supported by technological advancements, automation in fastening tools, and increasing investments in the construction and manufacturing sectors. With rising adoption in multiple industries, the fastening power tool market is poised for substantial growth over the next decade, making it a key area for investment and innovation.

“Advances in 3D printing technology are expected to influence the design and manufacturing of fastening power tools, allowing for more intricate and customized tool components,” says a Fact.MR analyst.

Competitive Landscape

The fastening power tools market is shaped by pricing, distribution channels, customer service, and regulatory compliance to gain a competitive edge. Adapting to market dynamics and staying abreast of technological advancements are essential for sustained success in this dynamic industry.

Recent Development:

In 2022, Hilti Group, a pioneering force in tools, technology, software, and services for the commercial construction industry, announced the launch of a groundbreaking innovation, Nuron, an advanced 22V cordless battery platform with built in connectivity.

Based in Schaan, Liechtenstein, and Plano, Texas, Hilti's Nuron revolutionizes the daily work experience of construction professionals by incorporating state-of-the-art technologies. The platform not only addresses health and safety challenges but also enhances efficiency, empowering users to work safer, smarter, and more efficiently.

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More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the global fastening power tool market, presenting historical analysis from 2019 to 2023 and forecast statistics for the period of 2024 to 2034.

The study reveals essential insights based on fastening power tool market analysis by product type (rebar tier, corrugated fasteners, nailer machine, screw system, hog ring tool, stapler), by mode of sales (retailers, distributors, online), and by region (North America, Latin America, Europe, East Asia, South Asia and Oceania, and Middle East & Africa).

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