Power Tools Market Research Report
Growth opportunities in the Power Tools market look
promising over the next six years. This is mainly due to the rising number of
developments related to infrastructure followed by the expansion in the
construction and the growing awareness related to the benefits offered by the
power tools such as the ability to complete the work at high speed, improved
effectiveness, and saves time.
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Power
Tools Market Dynamics (including market size, share, trends, forecast, growth,
forecast, and industry analysis)
Key
Drivers
Some of the key drivers
contributing to the growth of the global power tools industry include the
rising development of infrastructure and expansion in the construction sector
at the global level. Moreover, the surging demand for electric fastening tools
in sectors and increasing adoption of power tools across sectors including
aerospace, and energy, among others, are further driving the growth of the power tools
market size. Several advantages provided by power tools such as the ability
to complete the work at high speed improved effectiveness as compared with the
other tools, and saves time are further responsible for the market growth. In
addition to this, the rising number of the research & development
activities along with the technological advancements such as the revolution in
battery technology, advent of smart technology, and availability of several
cordless power tools in the market are certain factors that will hamper the growth
of the power tools market share.
Tool Type
Segment Drivers
Based on the tool type, the
drilling & fastening tools is projected to witness a faster CAGR during the
forecast period. This is mainly due to the increasing adoption of electric
drilling & fastening tools by DIY consumers and professionals. Moreover,
continuous advancements in the drilling technologies is further improving the
features of the power tool such as improved durability and high resistance to
shock and vibrations. All these factors are further surging the growth of the
power tools market size.
Regional
Drivers
Based on the region, the
Asia-Pacific region is projected to dominate the market during the forecast
period. The increasing adoption of power tools due to the expansion in
industrial activities, along with the rising number of infrastructural
developments in economies such as China and India are further contributing to
the market growth. The inclination towards the DIY trend is helping the
regional market to grow.
Power
Tools Market’s leading Manufacturers:
·
Robert Bosch Tool Corporation
·
Stanley Black & Decker, Inc.
·
Hilti Corporation
·
Makita Corporation
·
Apex Tool Group, LLC.
·
Atlas Copco
·
Snap-on Incorporated.
·
Ingersoll-Rand plc
·
Koki Holdings Co., Ltd.
·
Emerson Electric Co.
Power Tools Market Segmentation:
Segmentation by Tool Type:
·
Demolition Tools
·
Drilling & Fastening Tools
·
Material Removal Tools
·
Sawing & Cutting Tools
·
Routing Tools
·
Others
Segmentation by Mode of Operation:
·
Pneumatic
·
Electric
·
Other Tools
Segmentation by Application:
·
Industrial/Professional
·
Residential/DIY
Segmentation by Region:
·
North America
o
United States of America
o
Canada
·
Asia Pacific
o
China
o
Japan
o
India
o
Rest of APAC
·
Europe
o
United Kingdom
o
Germany
o
France
o
Spain
o
Rest of Europe
·
RoW
o
Brazil
o
South Africa
o
Saudi Arabia
o
UAE
o
Rest of the world (remaining countries of the
LAMEA region)
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