According to a new report published by Introspective Market Research, Electric Screwdriver Market by Product Type, Application, and Distribution Channel, The Global Electric Screwdriver Market Size Was Valued at USD 1.36 Billion in 2023 and is Projected to Reach USD 2.25 Billion by 2032, Growing at a CAGR of 6.50%.
Market Overview:
The Electric Screwdriver Market comprises power-driven fastening tools designed to improve efficiency, precision, and productivity across industrial and household applications. Electric screwdrivers are widely used in electronics assembly, automotive manufacturing, construction, and DIY projects. Compared to traditional manual screwdrivers, electric variants reduce operator fatigue, improve torque control, and enhance fastening consistency, making them ideal for high-volume production environments.
Growth Driver:
A key growth driver for the Electric Screwdriver Market is the rapid expansion of the electronics and automotive manufacturing sectors. Assembly operations in these industries require precision fastening and high operational efficiency. Electric screwdrivers enable controlled torque application, minimizing errors and improving product quality. Additionally, the growing adoption of automation and semi-automation in manufacturing facilities increases the demand for advanced electric fastening tools. As manufacturers focus on improving productivity and reducing labor costs, electric screwdrivers are becoming essential equipment in modern production lines, driving sustained market growth.
Market Opportunity:
A significant market opportunity lies in the development of smart and connected electric screwdrivers integrated with IoT and torque monitoring systems. Smart tools enable real-time performance tracking, error detection, and predictive maintenance, improving operational efficiency. The rising demand for cordless and lightweight tools in emerging economies also presents untapped potential. Furthermore, the growing DIY culture and home improvement trends, particularly through e-commerce platforms, provide opportunities for manufacturers to expand their consumer base. Customization, ergonomic innovation, and battery efficiency improvements are expected to create competitive differentiation in the coming years.
The Electric Screwdriver Market is segmented on the basis of Product Type, Application, and Distribution Channel.
Product Type
The Product Type segment is further classified into Corded Electric Screwdrivers, Cordless Electric Screwdrivers, and Precision Electric Screwdrivers. Among these, the Cordless Electric Screwdrivers sub-segment accounted for the highest market share in 2023. Cordless models are widely preferred due to their portability, flexibility, and convenience in both industrial and residential applications. Equipped with advanced lithium-ion batteries, these tools provide longer runtime and faster charging capabilities. Their ease of use in confined spaces and remote job sites makes them highly suitable for construction, automotive repair, and DIY tasks, contributing to their dominant market position.
Application
The Application segment is further classified into Industrial, Commercial, and Residential/DIY. Among these, the Industrial sub-segment accounted for the highest market share in 2023. Industrial applications demand high-precision and durable fastening tools for continuous production cycles. Electric screwdrivers are extensively used in electronics assembly lines, automotive manufacturing plants, and heavy machinery production units. Their ability to deliver consistent torque and reduce assembly errors enhances productivity and operational safety. Increasing investments in industrial automation and smart manufacturing technologies further strengthen the dominance of this segment.
Some of The Leading/Active Market Players Are-
- Stanley Black & Decker Inc. (U.S.)
• Robert Bosch GmbH (Germany)
• Makita Corporation (Japan)
• Techtronic Industries Co. Ltd. (Hong Kong)
• Panasonic Corporation (Japan)
• Apex Tool Group LLC (U.S.)
• Atlas Copco AB (Sweden)
• Hilti Corporation (Liechtenstein)
• Festool GmbH (Germany)
• Hitachi Industrial Equipment Systems Co., Ltd. (Japan)
• Snap-on Incorporated (U.S.)
• Ingersoll Rand Inc. (U.S.)
and other active players.
Key Industry Developments
News 1:
In March 2023, several leading power tool manufacturers introduced next-generation cordless electric screwdrivers featuring brushless motor technology and improved battery efficiency.
These product launches focused on delivering higher torque precision, extended runtime, and compact ergonomic designs. The integration of smart torque adjustment features and enhanced safety mechanisms reflects growing industry emphasis on performance optimization and user comfort.
News 2:
In September 2023, major players expanded their manufacturing facilities in Asia-Pacific to strengthen supply chain capabilities and meet rising regional demand.
This expansion strategy aims to reduce production costs, improve distribution efficiency, and capitalize on growing industrialization in emerging economies. Increased regional production capacity is expected to support long-term market growth.
Key Findings of the Study
- Cordless electric screwdrivers dominate the product type segment.
• Industrial applications account for the largest revenue share.
• Asia-Pacific leads due to rapid industrialization and electronics manufacturing.
• Automation and smart tool integration drive market growth.
• Rising DIY trends support residential demand globally.