Lucintel Forecasts the Global Drill Chuck Market to Reach $1.3 billion by 2030
Lucintel Forecasts the Global Drill Chuck Market to Reach $1.3 billion by 2030
Blog Article
According to a market report by Lucintel, the future of the global drill chuck market looks promising with opportunities in the construction, mining, carpentry, and industrial applications. The global drill chuck market is expected to reach an estimated $1.3 billion by 2030 from $1.0 billion in 2024,at a CAGR of 5.2% from 2024 to 2030. The major drivers for this market are growing demand for electric and cordless drills, expanding construction sector in developing countries, and growing need for effective and high-quality drill chucks.
A more than 150-page report to understand trends, opportunity and forecast in drill chuck market to 20s30 by type (keyed and keyless), distribution channel (direct sale, supermarket, specialty store, distributors, and e-commerce), application (construction, mining, carpentry, industrial, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World).
Lucintel forecast that, within the type category, keyed is expected to witness the highest growth over the forecast period due to its versatile nature and can be used with a wider variety of drill bits.
Within the application category, construction will remain the largest segment due to significant usage of drill chuck in various construction applications, such as drilling holes, installing anchor bolts, cabinetry, and other fixtures.
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In terms of region, APAC is expected to witness the highest growth over the forecast period due to the rising demand for drill chuck from various end-use industries, such as manufacturing, automotive, and construction in the region.
ROHM, Weida (M) Bhd, Jacobs Chuck Manufacturing Company, Sanou Machinery, LFA Industries are the major suppliers in the drill chuck market.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or write us at helpdesk@lucintel.comTo get access of more than 1000 reports at fraction of cost visit Lucintel'sAnalytics Dashboard.
About Lucintel
At Lucintel, we offer solutions for you growth through game changer ideas and robust market &unmet needs analysis. We are based in Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20 years. We are quoted in several publications like the Wall Street Journal, ZACKS, and the Financial Times.
Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. +1-972-636-5056
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