The Power Tools Market report offers a comprehensive overview of market dynamics, presenting an insightful analysis of trends, technological advancements, and industry progress. It delves into the global Power Tools Market size, detailing value and volume across manufacturers, types, applications, and regions. The report’s insights into market drivers and restraints are derived through a rigorous SWOT analysis, providing a reliable resource for informed decision-making and achieving success in the industry.
This analysis of the Power Tools Market explores various segments, paving the way for rapid development within the forecasted period. It offers a thorough examination of the market's current potential and future prospects from multifaceted perspectives. Serving as a systematic study, the Power Tools Market report not only encapsulates historical data and present trends but also emphasizes the impact on the broader Power Tools industry landscape. Furthermore, it acts as a key repository of essential statistics on both global and regional manufacturers, serving as a valuable compass for industry leadership and strategic direction.
Nowadays, power tools are gaining huge popularity in household applications due to the ease of mobility and easy operability. The increasing trend of Do-It-Yourself activities has augmented household users' demand for power tools. The “drilling and fastening” is expected to be the fastest-growing type segment during the forecast period. Drilling and fastening products are easy to use, inexpensive compared to other power tools, and frequently used in household and industrial applications.
Data Bridge Market Research analyses that the power tools market is expected to reach USD 56.48 billion by 2030, which is USD 36.25 billion in 2022, registering a CAGR of 5.70% during the forecast period of 2023 to 2030.
Power tools are those semiconductor tools which are used for wide range of industrial applications when actuated by additional power source. Circular saws, sanders, grinders, routers, jigsaws, drills, hammer-drills and numerous others are examples of power tools. A power tool is actuated by an additional mechanism and power source other than the solely manual labour used with hand tools. The most common types of power tools are internal combustion engines, electric motor and compressed air.
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Market Growth Drivers:
- Increasing demand of power tools in the automotive and manufacturing industries
With the increase in demand for power tools in the manufacturing and automotive industries, the power tools market is anticipated to develop exponentially. Furthermore, the power tools find their massive usages in assembly lines and automotive production, thereby supporting the jobs with faster results. It also aids a lot in minimalizing the overall time period that it takes to complete the whole task within the specified time frame.
- Growing usage of power toolsin various applications and functionalities
The power tools are extensively used in several functionalities and applications such as repair and maintenance, DIY, assembly and production lines and many other packaging jobs. These power tools delver better efficiency and handling in terms of many operations and also aid to minimize the time, thus meeting the many requirements of the labour. Furthermore, it helps a lot in terms of both gaining productivity and profitability. These are some of the major factors that are expected to propel the market growth during the forecast period.
Notably, the report emphasizes the engagement of essential entities, including:
Stanley Black & Decker, Inc. (U.S.), Robert Bosch GmbH (Germany), Techtronic Industries Co. Ltd. (China), Makita Corporation (Japan), Hilti Corporation (Liechtenstein), Atlas Copco AB (Sweden), Ingersoll Rand (U.S.), Snap-on Incorporated (U.S.), Apex Tool Group (U.S.), Koki Holding Co., Ltd. (Japan), Honeywell International Inc. (U.S.), 3M (U.S.), Emerson Electric Co. (U.S.), Festool GmbH (Germany), KYOCERA Corporation (Japan), Makita Corporation (Japan), and Husqvarna AB (Sweden)
Key highlights of the report:
- Comprehensive analysis of the Power Tools market, detailing present and future trends to identify promising investment opportunities.
- Exploration of evolving market dynamics within the industry.
- Examination of strategies adopted by major players and their product portfolios.
- Detailed breakdown of market segments for a profound understanding.
- Review of the latest industry trends and advancements.
- Forecasting the trajectory of the Power Tools market through detailed segmentation analysis
Key Market Segmentation
Type (Sawing and Cutting, Drilling and Fastening, Demolition, Routing, Portable Nibblers, Air-Powered, Material Removal, Electric Cords and Plugs, Accessories, Others), Mode of Operation (Electric, Liquid Fuel, Hydraulic, Pneumatic, Powder-Actuated), Application (Concrete and Construction, Woodworking, Metalworking, Welding, Others), Material (Concrete, Wood/Metal, Brick/Block, Glass, Others), End User (Industrial/Professional, Residential), Sales Channel (Indirect Sales, Direct Sales)
Intended Audience:
- Companies within the Power Tools industry
- Investors and analysts keen on the Power Tools market
- Individuals seeking insights into the dynamics of the Power Tools market
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