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.
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
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
About GMI Research
GMI Research is a market research and consulting company that offers business insights and market research reports for large and small & medium enterprises. Our detailed reports help the clients to make strategic business policies and achieve sustainable growth in the particular market domain. The company’s large team of seasoned analysts and industry experts with experience from different regions such as Asia-Pacific, Europe, North America, among others, provides a one-stop solution for the client. Our market research report has in-depth analysis, which includes refined forecasts, a bird’s eye view of the competitive landscape, key factors influencing the market growth, and various other market insights to aid companies in making strategic decisions. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to helping our clients to stay ahead of the curve.
Media Contact
Company Name: GMI RESEARCH
Contact Person: Sarah Nash
Email: enquiry@gmiresearch.com
Phone: Europe – +353 1 442 8820; US – +1 860 881 2270
Address: Dublin, Ireland
Website: www.gmiresearch.com
