The global fastening power tool market is projected to grow at a 6.4% compound annual growth rate (CAGR) between 2024 and 2034, reaching a value of $6.5 billion by 2034.
The market is expected to experience strong growth in emerging markets due to rising industrialization and infrastructure development in these regions. Government initiatives supporting infrastructure projects and industrial expansion are likely to have a positive impact on the fastening power tool market. As industries replace outdated or worn-out tools, the demand for newer, more advanced fastening tools is expected to increase.
Large-scale infrastructure projects, including roads, bridges, and airports, are anticipated to drive the sales of fastening power tools, particularly in areas with significant ongoing development.
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