Global power tools market size is expected to grow at a CAGR close to 6% by 2022
Power tools stand as an integral part of the industrial evolution. They are the key enablers to enhance productivity in major industries. With various power sources ranging from combustion engines to batteries and electric motors, power tools are now ubiquitous, replacing manual labor with hand tools in construction, gardening, and house works in various tasks pertaining to drilling, cutting, shaping, fastening, sanding, grinding, polishing, painting, routing and more.
A recent report released on “Global Power Tools Market – Strategic Assessment and Forecast 2017-2022” provides an in-depth analysis of the worldwide power tool market. The market research report provides a comprehensive study of the present scenario and growth forecast of the worldwide power tools market till 2022. The report also includes the market growth drivers, trends, and restraints. It also includes the top five vendors in the market.
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Scope Of The Report
The report provides the analysis of the key segments of the power tools market by equipment type, by type, by end user, by geography by country and by vendors. The Market research provides the detailed market revenue of each segment such as
By Equipment Type
IC or Hydraulic
Other countries in APAC
Power Tools Market – Market Size & Dynamics
Analysts at Beige Market Intelligence forecasts the global power tool market to grow at a CAGR closed to 5.9% by 2021. Technological innovations especially those pertaining to Lithium-ion batteries and brushless motors are blurring out the performance limitation set for the power tools. The power tools industry is going to witness a uplift in its market size in terms of revenue. One of the structural factors driving and shaping the market for power tools is increased foreign investments and public spending in emerging economies. Furthermore, cordless tools stand to be a key driver for the market wherein the rise in portable and maneuverable power tools is widening the scope of their usage especially in the DIY segment.
Electric motor remains to be the most widely preferred choice because of their low cost, easier maintenance and versatility. Battery-driven power tools are soon catching up with advancements in Lithium ion battery technology.
Corded power tools constitute a major part of the power tools market generating a major chunk of the market revenues. Whereas Beige Market Intelligence analysts expect the cordless domain with most of action and one of the segment capable of shaping the prospects of cordless power tools market.
Household demand for power tools is driven by Do-it-yourself trend wherein Industrial power tools form an indispensable part of manufacturing and infrastructural end uses. Sales of industrial power tools is expected to surpass that of household power tools growing at a CAGR close to 5%.
Power Tools Market – Trends, Drivers, and Challenges
Product innovation and after-sales service are going to be the key drivers to success of the global power tool market. Other emerging trends in the global power tool market include innovations in do-it-yourself tools to drive consumer demand and increased emphasis on organic growth and expansion. The market research report provides a detailed point wise description of all the emerging trends, growth drivers and expected challenges of the market. Shortage of skilled manpower driving automation, battery innovations and the rise of app-enabled technologies and programmable tools are among the key drivers discussed in the report.
Price-based competition and operational challenges in developing nations are among the key challenges included in the report.
Power Tools Market – Geographical Analysis
The report includes the market analysis of power tool market in different regions such as North America, APAC, Europe, MEA and Latin America. The report outlines the major market share holder and the market size analysis of all the regions and provides the market size and forecast of key countries.
US is the world’s largest market for Power tools driven by high degree of mechanization, better availability of range and awareness, followed by China. China despite being the second largest market for power tools is the largest manufacturer of the same, exporting a significant percentage of the output to other geographies. Almost all the major power tool vendors have their manufacturing bases at APAC with China, India being the major attractive destinations in lieu of cheaper factors of production and proximity to the growth markets.
Power Tools Market – Market Share & Key Vendors
This market research report profiles the major companies in the power tool market and also provides the competitive landscape of key players. Within the report covers the entire power tool market outlook regarding the value chain operating within the market. The major vendors include
Robert Bosch GmbH
Stanley Black & Decker
The other vendors profiled in the report are Apex Tool Group, Atlas Copco, Baier, Craftsman Tools, Dawer Tools, Great Star tools, Hilti Corporation, Hitachi, Snap-on, SKF AB.
Why Should You Buy The Report?
Key answers provided in the report
How has the market been performing and what are some of the current changes which are expected to change the landscape in the coming years?
What are the various factors that can affect the market and in what way over the next few years?
What are the emerging trends and challenges for the market over the next five years?
What is the market size and market forecast for each product segment?
What is the market size and market forecast for each user type?
Which regions are going to have the largest market share and what are the factors propelling the market growth in that region?
What is the sales growth rate in key geographies?
Which are the key countries and the market size and market forecast in the key countries?
Which companies are the key vendors in the market?
What are the strategies used by the top vendors, and what are the opportunities to grow?
Which companies are the emerging vendors in the market?
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