Global Industrial Nailers Market Rising Automobile Sales to Generate Latent Opportunities By Period Of 2022-2030 | FMI

A new study by ESOMAR-certified firm, Future Market Insights, offers detailed insights on key factors likely to influence industrial nailers market in the long run. Global demand for industrial nailers is likely to grow at nearly 8%, with end-users showing a marked preference for cordless industrial nailers.

The global industrial nailers market is valued at around US$ 629.6 Mn in 2022, having registered Y-o-Y growth of 7.5%. The market is expected to grow at a 7.9% CAGR and reach a value of US$ 1.15 billion by the end of 2030.

This is primarily due to its characteristics. It saves time and is useful and well-liked by industry experts, for example. Because of their ability to install other versatile instruments such as hammers of various types, the market for nailers in the industrial sector is expected to grow during the monsoon season.

The automotive and construction industries, both of which rely heavily on industrial nailers, bear the brunt of the shortage. To combat the virus's spread, major construction and automobile manufacturers have been forced to halt all on-site projects, resulting in lower output.

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Key Takeaways from FMI's Industrial Nailers Report
• US and East Asian countries will remain epicenter of growth, accounting for over 50% of the revenue share by 2030
• Cordless industrial nailers will outsell pneumatic variants
• Framing & sheathing nailers to capture nearly a quarter of the revenue share
• Automatic nailers are projected to surge in popularity, gaining 170 BPS from 2020-2030
• Furniture segment to generate an incremental $ opportunity worth US$ 153 Mn

"Concerns regarding injuries while using industrial nailers are prompting vendors to introduce enhanced safety features within their products, thus reducing accidents," concludes the FMI analyst.

COVID-19 Impact Analysis

The COVID-19 pandemic is slated to have a debilitating impact on world economic growth projections for FY 2020-2021 or possibly even longer. As economic activities of all countries have almost come to a standstill, major supply chain disruptions are on the cards.

Falling production levels across the aforementioned industries have also reduced demand for pneumatic, cordless and gas powered industrial nailers. This is expected to impede revenue prospects of the market in the short-term forecast period.

While the conservative estimates pegs recovery between the next 8 to 14 quarters, the optimistic scenario projects growth to rebound within the next 5 to 8 quarters. Slowdown shall be moderate as consumers are relying on their own carpentry skills to repair their furniture, keeping demand sustained to a significant extent.

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Competitive Landscape

The global industrial nailers market is highly consolidated, with top-notch players relying on product launchers, divestures and acquisition of rival players to stay afloat. These include Stanley Black & Decker, Illinois Tool Work Inc., MAX Co. Ltd., Koki Holdings America Ltd., and Robert Bosch Power Tools GmbH.

In 2018, MAX USA CORP. released the New PowerLite High Pressure Coil Framing Nailer. This nailer has power to drive nails through engineered lumbers such as laminated strand lumber (LSL) and laminated veneer lumber (LVL) respectively.

In 2019, Stanley Black & Decker divested its Sargent and Greenleaf mechanical locks business within the security segment. In 2020, Everwin Pneumatic Corp launched a new product for industrial coil nailers known as PN59 for the automotive segment.

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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 8-years.

This release was published on openPR.