The global automatic screw feeding system market is experiencing significant growth and is expected to grow considerably in the next few years. Automatic screw feeding system is an automatic machine that presents screws in the right position and orientation for the operator to pick. This machine eliminates the need to hand pick the screws and put them in the right position for them to be used. This saves a lot of time and prevents chronic injuries that an operator may incur due to the same repeated movements. Furthermore, there are two types of automatic screw feeding systems, which are robotic type and spindle type. A robotic type screw feeder can screw a screw without the need of human intervention, which makes them perfect for conveyor belt assembly process. The spindle type, on the other hand, consists of a feeder system that presents screws to the operator, who selects them using a hand-held spindle or an electric screw-deriver. These are best for small assembly lines of small household appliances and electronic products owing to their small size, lightweight, easy installation, operation, and maintenance. Furthermore, the major industries using these systems are, automotive, manufacturing, aerospace and others. Major players in the automatic screw feeding system industry adopt advanced technologies to increase the efficiency and productivity of their products to sustain the competition in the automatic screw feeding system market.
Description
The primary purpose of an automatic screw feeding system is to simplify the screw supply process for operators or robotic assembly. These machines are responsible for taking, placing, and tightening the screws. Furthermore, automatic screw feeding systems can either be fully or partially automated, depending on the machines or tasks into which they need to be incorporated.
COVID-19 Impact analysis
- The COVID-19 pandemic ceased the production of various products in the automatic screw feeding system industry, which is attributed to the global lockdown. This has hampered the growth of automatic screw feeding system market in the years and a similar trend is expected to be seen in the first half of 2022.
- The major demand for automatic screw feeding system was previously noticed from giant manufacturing-oriented countries including the U.S., Germany, Italy, the UK, India and China, which are negatively affected by the spread of the coronavirus, thereby declining the demand for automatic screw feeding system.
- Further, potential long-term impact of the lockdown is currently vague and financial recovery of companies is totally based on their cash reserves. Automatic screw feeding system manufacturers can afford a lockdown only for a few months, after which the players have to modify their investment plans. For instance, various players in the market halted their production activities for several weeks to reduce the expenses. On the contrary, few players adopted employee lay-offs to sustain themselves during the COVID-19 health crisis.
- Automatic screw feeding system manufacturers are expected to focus on protecting their workforce, operations, and supply chains to respond to immediate crises and find new ways of working after COVID-19. For instance, provision of sanitizers, maintaining social distancing, as well as ensuring the vaccination of every employee in the company can assist in promoting the health & safety of the workforce.
Top Impacting Factors
The manufacturing sector accounts for about 16% of the total global GDP and this is set to the rise due to increasing global population and disposable income of the public in general. This trend is expected to drive the automatic screw feeder system market growth. Moreover, automatic screw feeder systems are widely used in aftermarket services such as repair of electronics, and mechanical appliances and others. This is one of the reasons for rise in demand for the automatic screw feeder system market. Furthermore, the use of automatic screw feeder systems makes the task complete faster as compared to the conventional way of doing the same job. This system helps in preventing occupational diseases such as tunnel carpel syndrome in the operators’ hands. Such features are driving the growth in the automatic screw feeder system market. However, the rise in the cost of raw material used to manufacture these systems is one of the restraining factors hindering the growth of automatic screw feeding system market. Contrarily, technological developments in automatic screw feeding systems, such as adoption of completely automatic operation, better ergonomics of the products is expected to boost the efficiency of the equipment. This is anticipated to create lucrative opportunities for the automatic screw feeding system market growth during the forecast period.
Market Trends
- Businesses in the automated screw driver market conduct and attend fairs, EXPOs and other such exhibition activities to easily reach the potential customers. For instance, in March 2019, Somake Industrial Co. Ltd. Taiwan based industrial tool manufacturer, attended International Hardware Fair 2019 in Cologne and showcased it new range of tools.
- Similarly, competitors in the automatic screw feeding system market adopted acquisition as their key developmental strategy to expand their geographical foothold and upgrade their product technologies. For instance, in Feb 2022, Nittoseiko Co., Ltd. a manufacturer of industrial fasteners & tools, industrial & precision machinery, signed an equity transfer contract to acquire K.M.Seiko Co., Ltd. from Takato Kitai, and Hiroyuki Kitai. The acquired company K.M.Seiko Co.,Ltd. is involved in manufacturing of screws.
- Moreover, business expansion strategies also assist in enhancing their geographic footprint and help in gaining significant market share for automatic screw feeding system products. For instance, in October 2019, FANUC America, a supplier of robotics, automated screw drivers and other machinery, opened its new 461,000-square-foot North Campus robotics and automation facility in Michigan, U.S. The facility is expected to improve the service offerings for automated devices and hence screw feeding system consumers in the region.
Key Benefits of the Report
- This study presents the analytical depiction of the automatic screw feeding system industry along with the current trends and future estimations to determine the future investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the automatic screw feeding system market share.
- The current market is quantitatively analyzed to highlight the automatic screw feeding system market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed automatic screw feeding system market analysis based on competitive intensity and how the competition will take shape in coming years.
Automatic Screw Feeding System Market Report Highlights
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