0
Upcoming Allied Market Research
2023
Specialty Screwdriver Market

Specialty Screwdriver Market

by Product Type (Electrical Cordless Screwdrivers, Electrical Corded Screwdrivers, and Manually Operated), and End-user Industry (Renovation, Electronics Repairing services, Manufacturing, and Utilities): Global Opportunity Analysis and Industry Forecast, 2021-2030

Report Code: A16778
Nov 2023 | Pages: NA
Tables: NA
Charts: NA
  • Formats*:

  • pdf

    Single User License, Five User
    License & Enterprise User License

  • xls

    Data Pack Excel License

  • ppt

    It comes with the additional cost
    of $2500.00 contact sales.

 

COVID-19

Pandemic disrupted the entire world and affected many industries.

Get detailed COVID-19 impact analysis on the Specialty Screwdriver Market

Request Now !

The global specialty screwdriver market is experiencing significant growth and is expected to grow considerably in the next few years. A screw is available in a wide range, having different sizes and head types such as Philips type screws and Torx types, to serve different applications. This wide range of screws requires specifically designed screwdrivers. This causes a problem for the operators, as they are required to keep many types of screwdrivers on hand. To address this issue, specialty screwdrivers have been introduced. A specialty screwdriver consists of a handle, a port to insert screwdriver bits, and many screw bits to serve different screw types. These screw bits are swappable, and a single handle can be coupled with different screw bits or screwing blades. This makes the whole tool box lighter. These features make this tool very versatile and are responsible for its high demand among professionals and hobbyists. Specialty screwdrivers are largely used in industries for renovation services, electronics repair services, manufacturing, and utilities. Moreover, a specialty screw driver is a very common tool and is available at any hardware store. Major players in the specialty screwdriver industry adopt different ways to stand out in the market by adding extra features, by making very attractive designs, or by many other means to sustain the competition in the specialty screwdriver market.

Market Scope and Structure Analysis

Description

Specialty screwdrivers are designed to be compatible with custom-made screws and bolts by enabling them to have a swappable screw bit feature. These screwdriver types include jeweler's screwdrivers, computer screwdrivers, and screwdrivers with features such as cushion grip and handle modifications. In addition, specialty screwdrivers come in various forms, such as having a T-shaped body, a straight body, or their combination. They are either electrically powered or are manual.

COVID-19 Impact Analysis

  • The COVID-19 pandemic ceased the production of various products in the specialty screwdriver industry, which is attributed to the global lockdown. This has hampered the growth of specialty screw driver market in the year and a similar trend is expected to be seen in the first half of 2022.
  • The major demand for specialty screwdrivers was previously noticed from giant developed and developing countries including the U.S., Germany, Italy, UK, India, and China, which are negatively affected by the spread of the coronavirus, thereby declining the demand for specialty screwdrivers.
  • Further, potential long-term impact of the lockdown is currently vague and financial recovery of companies is totally based on their cash reserves. Specialty screwdriver 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 their expenses. On the contrary, few players adopted employee lay-offs to sustain themselves during the COVID-19 health crisis
  • Specialty screwdriver 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

Increase in the global trend of a DIY (do it yourself) culture among people who repair and renovate their own appliances, tools, and homes, has boosted the demand for specialty screwdrivers. Rise in disposable income increased the number of electronic items an individual holds. This is anticipated to boost the demand and growth of the specialty screwdriver market. Moreover, the swappable-bits feature of the specialty screws makes them more desirable than any other ordinary type of screwdriver. This feature makes them easily manageable, thereby driving demand in the specialty screwdriver market. However, the fluctuating cost of raw materials used in manufacturing these screwdrivers is one of the restraining factors hindering the growth of the specialty screwdriver market. On the contrary, advancements in battery technology and light weight screwdriver construction can increase the product's efficiency. This is expected to create lucrative opportunities for the growth of the specialty screwdriver market during the forecast period.

Market Trends

  • New products that contain improved capabilities are launched by leading market players. They take necessary steps to improve overall functionality. For instance, in October 2020, Klover SRL, a specialty screw driver manufacturer, launched KBL30FR/ANG and KBL40FR/ANG screwdrivers with a new angle head, to enhance its usability in tight spaces. The product launch enhanced the product offerings by Klover SRL to stay competitive in the specialty screw driver market.
  • Similarly, competitors in the specialty screw driver market adopted acquisition as their key developmental strategy to expand their geographical foothold and upgrade their product technologies. For instance, in Feb. 2021, Worthington Industries, Inc. acquired General Tools & Instruments Company LLC. This move will help the company to complement its current product offerings.
  • Moreover, business expansion strategies assist in enhancing the geographic footprint of the company and help in gaining significant market share for mobile specialty screwdriver products. For instance, in April 2021, Milwaukee Tool announced further expansion in the U.S. by building a new manufacturing facility in Grenada, Mississippi. The facility is expected to improve the service offerings for specialty screw driver consumers in the region.

Key Benefits of the Report

  • This study presents the analytical depiction of the specialty screwdriver 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 specialty screwdriver market share.
  • The current market is quantitatively analyzed to highlight the specialty screwdriver market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
  • The report provides a detailed specialty screwdriver market analysis based on competitive intensity and how the competition will take shape in coming years

Specialty Screwdriver Market Report Highlights

Aspects Details
By Product Type
  • Lattice Electrical Cordless Screwdrivers
  • Electrical Corded Screwdrivers
  • Manual Screw drivers
By End-user Industry
  • Renovation Services
  • Electronics Repairing services
  • Manufacturing
  • Utilities
By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (Germany, UK, France, Italy, Rest of Europe)
  • Asia-Pacific   (China, Japan, India, Rest of Asia-Pacific)
  • LAMEA  (Latin America, Middle East, Africa)
 
With collective industry experience of about 200 years of its analysts and experts, Allied Market Research (AMR) encompasses most infallible research methodology for its market intelligence and industry analysis. We do not only engrave the deepest levels of markets but also sneak through its slimmest details for the purpose of our market estimates and forecasts. Our approach helps in building greater market consensus view for size, shape and industry trends within each industry segment. We carefully factor in industry trends and real developments for identifying key growth factors and future course of the market. Our research proceeds are the resultant of high quality data, expert views and analysis and high value independent opinions. Our research process is designed to deliver balanced view of the global markets and allow stakeholders to make informed decisions.

We offer our clients exhaustive research and analysis based on wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics and regional intelligence. Our in-house industry experts play instrumental role in designing analytic tools and models, tailored to the requirements of particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of our recommendations and advice. With AMR’s calibrated research process and 360` degree data-evaluation methodology, our clients are assured of receiving:

  • Consistent, valuable, robust and actionable data & analysis that can easily be referenced for strategic business planning
  • Technologically sophisticated and reliable insights through well audited and veracious research methodology
  • Sovereign research proceeds that present a tangible depiction of marketplace


With a strong methodology we are, therefore, confident that our research and analysis are most reliable and guarantees sound business planning.

Secondary research
We refer a broad array of industry sources for our secondary, which typically include; however, not limited to: Company SEC filings, annual reports, company websites, broker & financial reports and investor presentations for competitive scenario and shape of the industry

  • Patent and regulatory databases for understanding of technical & legal developments
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic new articles, web-casts and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators and relevant press releases for market estimates and forecast


Primary research
Our primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks and face-to-face interactions. We are also in professional corporate relations with various companies that allow us greater flexibility for reaching out industry participants and commentators for interviews and discussions, fulfilling following functions:

  • Validates and improves the data quality and strengthens research proceeds
  • Further develops analyst team’s market understanding and expertise
  • Supplies authentic information about market size, share, growth and forecasts


Our primary research interview and discussion panels are typically composed of most experienced industry members. These participants include; however, not limited to:

  • Chief executives and VPs of leading corporations specific to industry
  • Product and sales managers or country heads; channel partners and top level distributors; banking, investments and valuation experts Key opinion leaders (KOLs)


Analyst tools and models
AMR has developed set of analyst tools and data models to supplement and expedite the analysis process. Corresponding to markets, where there is significant lack of information and estimates, AMR’s team of experts and analyst develop specific analyst tools and industry models to translate qualitative and quantitative industry indicators into exact industry estimates. These models also allow analysts to examine the prospects and opportunities prevailing in the market to accurately forecast the course of the market.

PURCHASE OPTIONS

Call or Email us

U.S.-Canada Toll-free: +1-800-792-5285
Int'l : +1-503-894-6022
Europe : +44-845-528-1300
Email : help@alliedmarketresearch.com

Looking for Customization?

 Customization Request

Have a Question?

 Speak with Analyst

Any Confusion?

 Inquire Before Buying

Have a glance of the Report

  Enquiry Now

Purchase Full Report of
Specialty Screwdriver Market

Start reading.
This Report and over 68,439+ more Reports, Available with Avenue Library. T&C*.

  • Online Only
  • $3,690
  • Online cloud access only
  • Restricted print, copy, paste & download
  • Read only
  • Free industry update
    (Within 180 days)
  • Free report update in next update cycle
  • Data Pack
  • $3,930
  • Restricted to one authorized user
  • One print only
  • Available in
    Excel
  • Free industry update
    (Within 180 days)
  •   Free report update in next update cycle
  • Single User
  • $5,820
  • Restricted to one authorized user
  • One print only
  • Available in
    PDF
  • Free industry update
    (Within 180 days)
  •   Free report update in next update cycle
  • Five Users
  • $6,540
  • Limited to five authorized users
  • Print upto five copies
  • Available in
    PDF
  • Free industry update
    (Within 180 days)
  •   Free report update in next update cycle
  • Enterprise
    License/PDF

  • $9,870
  • Unlimited
    within
    company/enterprise
  • Available in Excel & PDF
  • Free industry update
    (Within 180 days)
  •   Free report update in next update cycle
  • Library
    Membership

  • $999 $ 1,175
    Per User/ Per month/ Billed annually
  • Published Content
    E-access
  • Company Profiles
    E-access
  • Newly Added Content Access
  • 10 PDF
    Downloads
  • 5 Excel Data
    Pack Downloads
  • 250 Company Profiles PDF Downloads
  • Buy Now

*Taxes/Fees, if applicable will be added during checkout. All prices in USD

RELATED REPORTS
 

Why Allied Market Research?

 

Infallible Methodology

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

Analyst Support

For complete satisfaction

Customization

On-demand customization of scope of the report to exactly meet your needs

TARGETED MARKET VIEW

Targeted market view to provide pertinent information and save time of readers

Get fresh content delivered

Get insights on topics that are crucial for your business. Stay abreast of your interest areas.

Get Industry Data Alerts

Why Allied Market Research?

Infallible Methodology

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

Analyst Support

For complete satisfaction

Customization

On-demand customization of scope of the report to exactly meet your needs

TARGETED MARKET VIEW

Targeted market view to provide pertinent information and save time of readers