Sensor Screwdrivers: Market Outlook
Screwdrivers play an important role in everyday handyman uses to industrial screw fastening applications. For handyman activities using a simple, handheld screwdriver often times does the job, whereas for industrial production applications more complex and precise screwdrivers are used to achieve the right amount of torque.
For this purposes, sensor screwdrivers are widely used across various manufacturing industries. Sensor screwdrivers are used to fasten the screws with the right amount of torque to ensure a full and complete functional life of the product. Sensor screwdrivers are now widely used in industries like electronics, automobile, utilities, consumer goods and various other manufacturing industries, where fastening of screws is an important step in delivering a high quality end product.
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The sensors in the sensor screwdrivers help control the torque and rotational angle while fastening the screws. The torque measurement is done by measuring the deformation using strain gauge. The torque and rotational measurement helps in a more accurate screw fastening on the products. The sensor screwdrivers can fasten screws with size as small as M0.5 to more than M5 size screws, making them very crucial in various automated manufacturing industries.
With manufacturers increasing focus on delivering high quality, long lasting products and reduce product defect rate, use of sensor screwdrivers is gaining prominent demand among manufacturing industries and is projected to experience a significant growth in demand over the projected period.
Sensor Screwdrivers: Market Dynamics
Manufacturers, especially in the electronics, consumer goods and utilities industries, often employ measures to cut down losses and costs incurred due to product defects. Product defect rate plays an important role in defining the company’s brand, product quality, reliability, dependability and trust on its products. This is one of the factors heavily influencing the use of sensor screwdrivers in manufacturing industries. Rising focus on delivering high quality and long lasting products is also creating expected to create a hefty demand for sensor screwdrivers market in the coming years.
Growing automation adoption in manufacturing industries is one of the prominent trends in the sensor screwdrivers market. While the implementation of sensor screwdrivers improves operation efficiency, reduces labor costs and improves overall product quality, the whole set-up requires high capital investment, which can affect the growth of sensor screwdrivers market in some key regions. However, the drivers of the market are expected to trump the restraints, and the overall sensor screwdriver market is projected to witness healthy demand in the coming years.
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Sensor Screwdrivers: Market Segmentation
The overall Sensor Screwdrivers market can been segmented on the basis of thread size as:
- 5 to M2.5
- 5 – M5
- Above M5
The overall Sensor Screwdrivers market can been segmented on the basis of torque range as:
- Up to 0.5 Nm
- 5-5 Nm
- Above 5 Nm
The overall Sensor Screwdrivers market can been segmented on the basis of application as:
- Consumer Products
- Electronics & Electricals
- Other Manufacturing
Sensor Screwdrivers market: Regional Outlook
Europe is anticipated to occupy the crux of the market share in the global sensor screwdrivers market owing to the presence of a large manufacturing hub in the region, especially in Western Europe. North America and East Asia are expected to follow Europe in terms of market share, while South Asia is also anticipated to occupy a significant amount of market share in the sensor screwdrivers market over the projected period. In terms of growth rate by CAGR, China is expected to outpace other countries due to the booming electronics, automotive and other manufacturing industries in the region. South Asia is expected to follow China in terms of growth rate in the sensor screwdrivers market, given the rapid industrialization and growing manufacturing sector in India. Influx of investments in Africa region for economic development, is expected to drive the Sensor Screwdrivers market in the region, while Latin America is expected to create noteworthy demand in the global Sensor Screwdrivers market.
Sensor Screwdrivers market: Market Participants
Some of the key market participants identified in the Sensor Screwdrivers market across the globe are:
- Mountz Torque
- DEPRAG SCHULZ GMBH
- Kilews industrial Co., Ltd
- WEBER Screwdriving Systems Inc.
- FAULHABER GROUP
- NITTO KOHKI CO., LTD
- Desoutter Industrial Tools
- SMAC Corporation
- Tohnichi America Corporation
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