Electric Screwdriver Market
Electric screwdriver is a type of power tool that relies on a current control motor to quickly tighten the screws to the set torque.
Download Research Study With Latest Advancement Trends and Application @ https://www.reportsmonitor.com/request_sample/334199
Scope of the Report:
The electric screwdriver industry concentration is not high; there are more than one hundreds manufacturers in the world, and high-end products mainly from U.S. and Western European. They also like set up plants in China to expand market share. China has many producers and they produce about 67.5% of the global electric screwdriver production, but its products are more concentrated in household products.
The key consumption markets locate at developed countries. China takes the market share of 30.35%, followed by Europe with 28.75%. Global consumption market has a quicker growing speed of CAGR 3.13%.
We tend to believe this industry becomes more and more mature, and the consumption increasing rate will show a smooth curve.
In the international market, the marketing channels characteristic differ from company to company.
The giant companies are more likely to set their own big agents in some major countries and regions taking charge of regional business building their international market position.
Companies in developing countries such as China, in contrast, put more effort on direct selling business. They can act as exports at the same time, and it is a common phenomenon in this industry. As they do not have that much international brand influence, their product quality is not good enough when comparing with leading companies, however, they have price advantage. They like to expand their market share in developing countries and low-end international market.
The market is not only influenced by the price, but also influenced by the product performance. Although China domestic companies have price advantage, the application is narrow to some extent due to the poor manufacture processing, cheap raw material and less diversity of products.
The leading companies own the advantages on better performance, more abundant product’s types, better technical and impeccable after-sales service. Consequently, they take the majority of the market share of high-end market.
Looking to the future years, the slow downward price trend in recent years will maintain. As competition intensifies, prices gap between different brands will go narrowing. Similarly, there will be fluctuation in gross margin.
Company mergers and acquisitions, and inter-companies cooperation have occurred for development and growth. As the downstream consumption usually follows with developed and rapid economic growth areas, such as BRICS, the developed areas’ company prefers selling their products to underdevelopment regions these years.
This industry is affected by the economy and policy, so it’s important to put an eye to economic indexes and leaders’ prefer. With the global economic accelerating, especially in underdevelopment regions that have a large population and fast economic growth, the need of electric screwdriver will increase.
The worldwide market for Electric Screwdriver is expected to grow at a CAGR of roughly 0.5% over the next five years, will reach 420 million US$ in 2024, from 400 million US$ in 2019, according to a new GIR (Global Info Research) study.
Market Segment by Manufacturers, this report covers
Stanley Black & Decker
Market Segment by Type, covers
Market Segment by Applications, can be divided into
Key Regions for this market: North America, Europe, APAC, Latin America, and the Middle East & Africa.
Check Discount Link @ https://www.reportsmonitor.com/check_discount/334199
The report provides a thorough analysis of some of the significant factors, which include cost, capacity, capacity utilization rate, production, revenue, production rate, consumption, import/export, supply/demand, gross, market share, CAGR, and gross margin. Besides, the report provides a comprehensive study of the key influencing factors and market inclinations, in addition to the relevant market segments and sub-segments.
1. The research report provides a detailed analysis of the Electric Screwdriver Market along with the current and future growth prospects so as to shed light on the prominent investment pockets.
2. Information regarding key growth factors, constraints, and opportunities, along with their impact analysis on the Electric Screwdriver Market is provided.
3. Porter’s fives forces analysis elaborates the effectiveness of buyers and suppliers operating in the market, globally and regionally.
4. The qualitative and quantitative analysis of the market from 2019 to 2024 is provided to put forth the market potential.
Have Any Query or Specific Requirement? Ask to Our Industry Expert @ https://www.reportsmonitor.com/report/334199/Electric-Screwdriver-Market
Key questions answered in the report include:
- What will the market size and the growth rate by the end of the forecast period?
- What are the key industry trends impacting the growth of the market?
- What are the key factors driving and restraining the Electric Screwdriver market?
- What are the challenges to market growth?
- What are the market opportunities and threats faced by the key players in the market?
- Who are the leading competitors functioning in the market for a Electric Screwdriver?
- What are the key outcomes of Porter’s five forces analysis of the Electric Screwdriver market?
The report concludes with the profiles of major players in the Electric Screwdriver Market. The foremost market performers are accessed on the basis of various parameters such as company overview, product portfolio, and so on., as well as the latest development trends of the Market.
Thanks for reading this article; you can also get individual chapter wise section or region wise report version like Asia, United States, Europe.