Global Powder-Actuated Tools Market Outlook Report 2022-2027 Featuring Prominent Vendors
DUBLIN, Jan. 21, 2023 /PRNewswire/ — Research and Markets
The “Powder-Actuated Tools Market – Global Outlook & Forecast 2022-2027” report has been added to ResearchAndMarkets.com’s offering.
The global powder-actuated tools market is expected to grow at a CAGR of 2.19% during 2021-2027
Increasing demand for convenient and effective tools in the construction industry to lessen total lead time and enhance effectiveness is anticipated to drive market growth. Easy accessibility to the powder-actuated tools market through e-commerce and retail channels will likely attract more consumers and drive industry growth.
Powder-actuated tools are generally used in industrial and household applications such as renovation, maintenance and repair work, and others. Efficient and effortless operations are key factors that propel the demand for powder-actuated tools worldwide.
Powder-actuated tools, also known as explosive-actuated fastening tools, are used to attach materials to solid bases such as concrete, steel, or masonry. Their operation is similar to a gun and must be operated with at most care. In addition, only an individual with proper training in the particular tool shall be allowed to operate a powder-actuated tool.
Factors such as technological transformation along with essential changes in designs and installation, rising complexity of building projects, stringent norms, and many other factors are supporting the growth of the construction industry.
In addition, rising urbanization, growing population, and enhancing domestic and regional economic conditions indirectly drive the construction industry. Thus, such developments stimulate the global demand for powder-actuated tools during the forecast period.
MARKET TRENDS & DRIVERS
Growing Demand For Prefabricated Buildings
The high accuracy in the production of the prefabrication construction allows joists, trusses, and walls to be prefabricated off-site at a fast speed.
Onsite, the space needs are minimal, allowing easy and quick assembly. Such factors strongly reflect that the prefabricated building industry has become one of the most significant sectors for vendors to cater to such demands. Such factors are anticipated to propel the demand for the powder-actuated tools market during the forecast period.
Increasing Opportunity In Insulating Fastening
Through proper training, insulation fastening crews can be demonstrated the right techniques and the care and operation of the latest equipment to become more productive on the job. Such factors can create better opportunities for the powder-actuated tools market players to develop better insulation fastening designs.
Growing Construction Industry
Factors such as the increasing complexity of building projects, stringent policies governing employee safety, the use of advanced tools, the need for energy efficiency, and better productivity have emerged as major concerns in the construction industry. The growth is more concentrated in the real estate and residential sectors, which are majorly supported by low-interest rates and rising disposable incomes among populations. Such developments stimulate the growth of the global powder-actuated tools market during the forecast period.
Fluctuations In Raw Materials Pricing
Raw material costs comprise approximately 50% to 60% of the overall cost of production. The prices of major raw materials used to manufacture powder-actuated tools have been volatile over the last few years.
The volatility of raw material prices poses a serious threat to vendor margins. Other operating expenses, such as labor wages, also sharply increase. Chinese manufacturers add more worries to the company’s top line. These factors burden the vendors striving to produce efficient powder-actuated tools at affordable costs to cope with the competition in the market
INSIGHTS BY TYPE OF OPERATION
The automatic segment dominates the global powder-actuated tools market and accounts for a revenue share of 49.50% in 2021, and is expected to witness an absolute growth of 17.11% by the end of 2027. In automatic powder-actuated tools, automatic piston returns and load advancement for fast application speed are available. Such tools drive into concrete and steel substrates for application versatility.
Also, such devices have adjustable power settings. They can be used for interior and exterior framing, mechanical installation, electrical installations, insulation and surface preparation, and concrete framing. This segment’s revenue is expected to reach USD 329.27 million by 2027, the fastest growing at a CAGR of 2.67% during the forecast period.
INSIGHTS BY END-USER
The construction segment dominated the global powder-actuated tools market and accounted for a revenue share of 62.56% in 2021 and is expected to witness an absolute growth of 15.91% by the end of 2027. Powder-actuated tools are used to bond several construction materials, such as wood to concrete, steel to concrete, metal to concrete, and steel to steel.
This segment’s revenue is expected to reach USD 411.86 million by 2027, the fastest growing at a CAGR of 2.49% during the forecast period. In North America, the segment is expected to add an additional revenue of USD 26.19 million, growing at a CAGR of 3.03% during the forecast period.
In 2021, North America emerged as the largest powder-actuated tools market, with a revenue share of 37.87%. Large-scale industries, such as construction, are driving the market for powder-actuated tools in the region.
Furthermore, the DIY culture is highly predominant in North America, so tools such as compact and strong powder-actuated tools could have greater demand in the region. However, proper certification is required for powder-actuated tools before using the tool.
Geographically, Europe is the second-largest industry for powder-actuated tools since the region is home to world-class manufacturing facilities, accounting for approximately 28.54% of the global powder-actuated tools market in 2021.
APAC comes after Europe and is expected to grow at a CAGR of 1.76% during the forecast period owing to the rapid rise in the number of construction and infrastructural development projects, automotive, and in growing economies of India, China, Indonesia, and Thailand.
The global powder-actuated tools market is fragmented, with many small and medium-sized manufacturers accounting for a significant industry share. Some prominent players with a dominant presence in the industry include Hilti, Illinois Tool Works, DEWALT, and Simpson Strong-Tie.
Many major vendors are adopting innovative and safe technologies to retain their position. The industry’s future will rely on developing new products and safety features. For instance, key companies have designed automatic powder-actuated tools that are safer than manual powder-actuated tools.
However, to use such tools, proper certification is needed. Thus, the launch of such advanced products has enabled global vendors to capture market attention.
Key Winning Imperatives in the Global Powder Actuated Tools Market
The construction and manufacturing industries are the significant drivers of powder-actuated tools.
The appropriate use of direct fastening methods can increase productivity by almost five times, depending on the procedure used and the type of application.
The powder-actuated tools are fast, reliable, and inexpensive. These are light and medium weighted objects. These tools save up to 80% on in-place fastening costs.
Key Topics Covered:
1 Research Methodology
2 Research Objectives
3 Research Process
4 Scope & Coverage
4.1 Market Definition
4.2 Base Year
4.3 Scope of the Study
4.4 Market Segmentation
5 Report Assumptions & Caveats
5.1 Key Caveats
5.2 Currency Conversion
5.3 Market Derivation
6 Market at a Glance
7 Premium Insights
7.1 Market Overview
7.2 Market Trends
7.3 Market Opportunities
7.4 Market Drivers
7.5 Market Challenges
7.6 Segment Review
7.7 Company & Strategies
7.8 Company Profiles
8.2 History of Powder-Actuated Tools
8.4 Power Load
8.5 Fastener Types
8.5.1 Drive Pins
8.6 Requirements for Using Powder-Actuated Tools
8.6.1 Requirements for Qualified Operators
8.7 Restrictions Applied to Use Powder-Actuated Tools
8.7.1 Osha Rules for Powder-Actuated Tools
8.8.1 Automatic Powder-Actuated Tools
8.8.2 Semi-Automatic Powder-Actuated Tools
8.8.3 Manual Powder-Actuated Tools
8.9 Value Chain Analysis
8.9.1 Material Suppliers
8.11 Frequently Asked Questions
8.12 Construction Industry
8.12.1 Residential Construction
8.12.2 Commercial Construction
8.12.3 Public Infrastructural Construction
8.13 Global Economic Overview
8.14 US-China Trade Issues
8.15 Covid-19 Scenario
9 Market Opportunities & Trends
9.1 Growing Demand for Prefabricated Buildings
9.2 Increasing Opportunities in Insulating Fastenings
9.3 Increasing Prominence of Asian Manufacturing
10 Market Growth Enablers
10.1 Cost-Efficient Powder-Actuated Tools
10.2 Growing Construction Industry
10.3 Growth in the Use of Fasteners
11 Market Restraints
11.1 Fluctuations in Raw Material Pricing
11.2 Low-Cost Labor in Developing Economies
11.3 Stringent Regulatory Standards & Safety Concerns
11.4 Growing Popularity of Gas-Actuated and Other Tools
12 Market Landscape
12.1 Market Overview
12.2 Market Size & Forecast
12.3 Five Forces Analysis
For more information about this report visit https://www.researchandmarkets.com/r/flkla8
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