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. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Expected Impact of Economic Slowdown on the Pricing and Availability of Products
- When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.
- In 2021, Stanley Black Decker, Inc. entered in partnership with Eastman to im[prove sustainability in power tools market. BLACK+DECKER, a Stanley Black Decker brand, would be launching a new product line, specifically reviva, which would be offering the first sustainability-led power tools brand that use Eastman's Tritan Renew copolyester.
- In 2021, DEWALT, a Stanley Black Decker brand, announced the intoduction of DEWALT POWERSTACK 20V MAX Compact Battery. This next-generation technological breakthrough results in a new period of performance for DEWALT cordless power tools.
- In 2021, Robert Bosch Power Tools GmbH announced the growth of its comprehensive product line of wood cutting and woodworking solutions with the launch of its 18V and 12V cordless sanders. This cordless sanders are designed for convenience and optimal balance.
- In 2021, Robert Bosch Power Tools GmbH announced the newest entries to its line of random orbit sanders comprising GEX33-6N 6 In., GEX33-5N, 5 In., and GEX34-6N 6 In. These sanders are designed for professionals.
Global Power Tools Market Scope
- The power tools market is segmented on the basis type, mode of operation, application, material, end user and sales channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
- Sawing and Cutting
- Reciprocating Saws
- Circular Saws
- Band Saws
- Shears and Nibblers
- Drilling and Fastening
- Impact Drivers
- Impact Wrenches
- Screwdrivers and Nutrunners
- Demolition Hammers
- Portable Nibblers
- Material Removal
- Air Scalers
- Angle Grinders
- Die and Straight Grinders
- Electric Cords and Plugs
Mode of Operation
- Liquid Fuel Hydraulic
- Concrete and Construction
- Indirect Sales
- Direct Sales
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Power Tools Market Regional Analysis/Insights
- The countries covered in the power tools market report U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (Competitive Landscape and Power Tools Market Share Analysis
- The power tools market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to power tools market.
Some of the major players operating in the power tools market are:
- 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)
- Husqvarna AB (Sweden)
Full Access of Report @ https://www.databridgemarketresearch.com/reports/global-power-tools-market
MAJOR TOC OF THE REPORT
- MARKET SEGMENTATION
- EXECUTIVE SUMMARY
- PREMIUM INSIGHTS
- MARKET OVERVIEW
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