Nutrunner Market Expected to Reach $1.6 Billion by 2030-Allied Market Research

According to a new report published by Allied Market Research, titled, “Nutrunner Market by Type, Distribution Channel, and End User Industry Global Opportunity Analysis and Industry Forecast, 2021–2030,” the global nutrunner market size was valued at $789.4 million in 2020, and is projected to reach $1,168.5 million by 2030, registering a CAGR of 4.1% from 2021 to 2030.

Nutrunner is a power tool that is used to tighten or fasten nuts and bolts. It is made up of a driving clutch half and a driven clutch half that are connected by axially directed teeth to transfer torque. Nut runners are pneumatic, electric, or hydraulic power tools that are commonly used for appliance maintenance and are normally utilized for lower torque applications than ratchets and wrenches. There are numerous sorts of nut runners, depending on head styles and performance specifications, including in-line heads, offset heads, right-angle heads, crowfoot heads, and tube nut heads.

The nutrunner market growth is driven by development of the construction, automotive, machinery manufacturing, and industrial sectors. Moreover, increase in automation in automotive, machine manufacturing, and construction industries is likely to boost the market growth. The use of a nut runner saves time and ensures performance accuracy. In industry, nutrunner are utilized where increasing production pressure to meet the objective within a time restriction is a difficult issue. Moreover, nutrunners are ideal for bolting applications, as they have little vibration and give better accuracy and repeatability. On the other hand, a nutrunner requires labor and daily interval maintenance, which is expected to restrain the market growth during the forecast period.

Nutrunner are of various types such as electric, pneumatic, and hydraulic nutrunner. The pneumatic nutrunner is powered by continuous gearing, whereas a hydraulic nutrunner is powered by hammering. The gear box and the reaction arms manage all of the required torque. A reaction arm necessitates the use of a reaction contact, such as a nut or a hard metallic surface. These nutrunner have low vibration level, sufficient repeatability and higher accuracy, which makes it ideal for bolting and fastening, thus augmenting the market growth.

Furthermore, various major players in nutrunner market are implementing various strategies such as partnership and acquisition to strengthen and expand its market foothold. For instance, in May 2021, ITH Bolting Technology has partnered with Cordless Alliance System. The CAS is manufacturer of battery power tool pack system. This partnership will help ITH Bolting Technology to expand its product portfolio with battery nutrunner tools. Such strategic moves will expand the nutrunner market and will provide lucrative growth during the forecast period.

However, due to a lockdown imposed in countries such as China, the U.S., and India due to the coronavirus issue, numerous manufacturers in the global crash barriers systems market had to halt their business production. This disruption has a direct impact on the sales of nutrunner. However, it is expected that the reopening of production facilities and the introduction of coronavirus vaccines will lead to the reopening of nutrunner firms.

Some of the key players operating in the global nutrunner market include Aimco Global, Atlas Copco AB, Bosch Rexroth AG, Dai-Ichi Dentsu Ltd., Estic Corporation, Ingersoll Rand Inc., ITH bolting Technology, Maschinenfabrik Wagner GmbH & Co.AG, Sanyo Machine Works Ltd., and Stanley Engineered Fastening.

Key Findings Of The Study

• The report provides an extensive analysis of the current and emerging nutrunner market trends and dynamics. 
• By type, the pneumatic nutrunner dominated the nutrunner market, in terms of revenue in 2020 and is projected to grow at a CAGR of 3.8% during the forecast period.
• By end user industry, the construction segment registered highest growth in the nutrunner market in 2020.
• The Asia-Pacific region is projected to register the highest growth rate in the coming years.
• The report provides an extensive analysis of the nutrunner market trends and emerging opportunities of the market. 
• In-depth nutrunner market analysis is conducted by constructing estimations for the key segments between 2021 and 2030.