Power tools are equipment powered by additional power sources such as battery and electric motors. Power tools are used for various applications in various industries such as construction industry, manufacturing, and others. Moreover, power tools are used for various household applications such as cutting, shaping, grinding, and drilling. Power tools are available in different size and are easy to operate, which include hammer drills, electric screwdriver, and fast screw guns.
Market Dynamics:
- The growth for the power tools market is majorly attributed to the growing construction industry in the emerging economies such as China, India, across the globe. In the construction industry, power tools are used for number of applications such as woodcutting, drilling, welding, reshaping, which boosts demand for them. For instance, according to Invest India, The Real Estate Industry in India is expected to reach $1 Tn by 2030 and will contribute 13% to India’s GDP and construction output is expected to grow on average by 7.1% each year. In addition, cordless power tool is majorly getting adopted in various industries, as they are flexible, compact, and are easy to use.
Power tools are precision tools that require frequent maintenance, and need to be recalibrated after a regular interval of time. Motors, batteries, rotor that requires a frequent maintenance is expected to be a challenging factor for the power tools market growth.
Key features of the study:
- This report provides in-depth analysis of the global power tools market size (US$ Million) and compound annual growth rate (CAGR %) for the forecast period (2023–2030), considering 2022 as the base year
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, regional outlook, and competitive strategies adopted by the leading market players
- It profiles leading players in the global power tools market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, market capital, key developments, strategies, and future plans
- Companies covered as part of this study include Apex Tool Group LLC, Atlas Copco AB, Emerson Electric, Co Techtronic Industries, Hilti Corporation, Stanley Black & Decker, Ingersoll-Rand plc, Robert Bosch, Koki Holdings Co., Ltd., and Makita Corporation.
- Insights from this report would allow marketers and management authorities of companies to make informed decisions regarding future product launches, product upgrades, market expansion, and marketing tactics
- The global power tools market report caters to various stakeholders in this industry including investors, suppliers, managed service providers, third-party service providers, distributors, new entrants, and value-added resellers
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global power tools market
Detailed Segmentation:
- Global Power Tools Market, By Tool Type
- Drilling Solutions
- Material Removal
- Sawing
- Wrenches
- Other Solutions
- Global Power Tools Market, By Mode of Operation
- Global Power Tools Market, By Application
- Global Power Tools Market, By Geography
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- Company Profiles:
- Atlas Copco AB*
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/ Updates
- Apex Tool Group, LLC
- Emerson Electric, Co
- Techtronic Industries
- Hilti Corporation
- Stanley Black & Decker
- Ingersoll-Rand plc
- Robert Bosch
- Koki Holdings Co., Ltd
- Makita Corporation
*Browse all the market data tables and figures on “Global Power Tools Market- Forecast to 2030”
