Product Code: RP-ID-10325278 |
Published Date: 21 Oct 2022 |
Region: NA |
Category: Industrial Automation & Equipment |
Report ID: 10325278
Market Overview:
Global Power Tools Market Size study with, by Type (Engine-Driven Power Tool, Electric Power Tool, Pneumatic Power Tool, Hydraulic and Other Power Tool), by Application (Residential Applications, Construction Field, Industry Field, Gardening Field, Others) and Regional Forecasts 2020-2027
Global Power Tools Market is valued approximately at USD 31.8 billion in 2019 and is anticipated to grow with a growth rate of more than 5.5 % over the forecast period 2020-2027. Power tools are the energy driven tools that reduce the human efforts and enhance the accuracy of the outcomes obtained through the process. Some types of power tools are electric motors, hydraulics presses, internal combustion engine, pneumatic tools and many more which are used in applications such as household, gardening, construction, etc. Enhancement in the industrialization is the major factor driving the market growth. Power tools are advantageous in industries as they are lower in cost, leads to time consumption, better precision and solve the major problem of scarcity of skilled workforce. Major users of the power tools are the electricians, carpenters, artisans, plumbers, etc. who deliver better service with the help of these tools. An enhancement in furniture industry has been observed due to rise in the construction and commercial sectors and used for functions like drilling, cutting and fitting. Use of power tools is across various industries such as automobile, aerospace, construction for basic operations which is beneficial in labor cost reduction. Further, with the enhancement in the tools, cordless power tools are introduced which are handy and portable those operate on batteries such as circular saw, hammered drill and intact wrenches to fulfill the demand for mobile, handy, compact and convenient tools. As per European Power Tool Association (EPTA) in 2018, Cordless Power tools account for almost 50% of the power tool market in Europe. Since the Lithium-ion batteries used in the cordless power tools are highly efficient and light in weight they ensure better efficiency.
However, high maintenance costs of the power tools and fluctuations in the prices of the raw material is the major restraining factor which impedes the growth of the market over the forecast period of 2020-2027.
The regional analysis of global Power Tools market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia Pacific is the leading/significant region across the world owing to rise in industrialization and rapid urbanization. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as rise in the exports in emerging economies such as China, India, Japan, Malaysia and Indonesia would create lucrative growth prospects for the Power Tools market across Asia-Pacific region.
Major market player included in this report are:
Atlas Copco AB (Sweden)
Emerson Electric Co. (US)
Hilti Corporation (Ireland)
Trane Technologies plc (Ireland)
Koki Holdings Co., Ltd. (Japan)
Makita Corporation (Japan)
Robert Bosch GmbH (Germany)
Snap-on Incorporated (US)
Stanley Black & Decker Inc. (US)
Techtronic Industries Co. Ltd. (Hong Kong)
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Type:
Engine-Driven Power Tool
Electric Power Tool
Pneumatic Power Tool
Hydraulic and Other Power Tool
By Application:
Residential Applications
Construction Field
Industry Field
Gardening Field
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Power Tools Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
Emerson Electric Co. (US)
Hilti Corporation (Ireland)
Trane Technologies plc (Ireland)
Koki Holdings Co., Ltd. (Japan)
Makita Corporation (Japan)
Robert Bosch GmbH (Germany)
Snap-on Incorporated (US)
Stanley Black & Decker Inc. (US)
Techtronic Industries Co. Ltd. (Hong Kong)
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