The global nail gun market is expected to grow by USD 167.52 million during 2020-2024. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. The impact can be expected to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth according to the latest market research report by Technavio. Request a free sample report
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Technavio has announced its latest market research report titled Global Nail Gun Market 2020-2024 (Graphic: Business Wire)
The nail guns market is witnessing the development of several innovative and technologically advanced products to cater to the evolving needs of consumers. For instance, Stanley Black & Decker’s DEWALT nail gun has a magnesium body equipped with drive motors that are maintenance-free. The nail gun is lightweight and safe to use due to its sequential style trigger and rear exhaust vent that keeps harmful contaminants away from the user. Similarly, market competitors such as Emerson Electric, Hilti, Makita, Robert Bosch, and Techtronic Industries offer innovative features such as low-noise and Li-ion battery technologies. Such technological developments are expected to have a positive impact on the growth of the nail gun market during the forecast period.
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As per Technavio, the growing adoption of cordless nail guns will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Nail Gun Market: Growing Adoption of Cordless Nail Guns
Cordless nail guns are gaining tremendous popularity due to the accelerating demand for faster, mobile, and convenient power tools solutions such as nail guns. The demand for cordless nail guns in residential and commercial building projects has been on the rise over the years due to multiple advantages arising from portability and independence from relying on electricity. Thus, several manufacturers of nail guns are now transitioning to cordless nail guns equipped with efficient and lightweight Li-ion batteries. Therefore, the growing adoption of cordless nail guns is expected to have a positive impact on the growth of the nail guns market during the forecast period.
"Factors such as the rising popularity of DIY home improvement tools, and the shift from Ni-Cd to Li-ion batteries in nail guns will have a significant impact on the growth of the nail gun market value during the forecast period," says a senior analyst at Technavio.
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Nail Gun Market: Segmentation Analysis
This market research report segments the nail gun market by product (cordless and corded) and geography (North America, Europe, APAC, MEA, and South America.).
APAC region led the nail gun market in 2019 and is expected to dominate the market over the forecast period as well. APAC region is expected to register the highest incremental growth due to factors such as the widespread adoption of advanced tools for construction, manufacturing, and commercial services in the advanced economies of the region.
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Some of the key topics covered in the report include:
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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