The global Power Tools market, which was assessed to be worth USD 27 billion in 2018 and is expected to earn USD 36 billion by 2025, is expected to grow at a CAGR of around 4.14 percent between 2018 and 2025. The study provides valuation and analysis of the Power Tools market on a worldwide and regional scale. The study provides an in-depth analysis of industry rivalry, constraints, sales projections, avenues, present and developing trends, and industry-validated market data. The research provides historical data from 2016 to 2019, as well as a projection based on value from 2020 to 2026. (USD Billion).
Introduction
Massive DIY technique trends are gaining popularity over the world, which has led in the growing popularity of power tools in recent times. Furthermore, power tools have a wide range of uses in the automotive and construction industries. Furthermore, the capacity of power tools to save time has raised their demand for performing repetitive activities such as sawing and screw driving. In addition, constantly developing industrial infrastructure facilities and the restoration of concrete structures within a set timeframe necessitate the use of modern equipment, helping the expansion of the power tools sector in the next years. Furthermore, power tools reduce physical work and improve the operating efficiency of production units, which will significantly contribute to the business growth in the foreseeable future.
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Dynamics of Market Growth
The prominent usage of power tools in wind turbines to cut maintenance costs and construction charges will drive market growth in the coming years. Furthermore, the increased use of electric power tools and the manufacture of energy efficient power systems have resulted in massive market demand in recent years. Furthermore, high labour costs in emerging nations have compelled manufacturers to maximise the usage of power tools in order to improve the efficiency of company operations and the productivity of material handling equipment.
As a result, the power tools market will thrive during the next decade. Nonetheless, the high cost of power tools will limit market growth in the near future. However, the widespread usage of power tools in the aerospace and aviation sectors, as well as the defence industry, will propel the expansion of the power tolls market globally in the future years. Rapid industrialization appears to have increased market size in recent years.
By 2026, Europe will contribute significantly to overall market revenue.
The rapid rise of the European market over the predicted timeline can be attributable to an increase in DIY activities in the residential and commercial sectors. Apparently, the increasing use of cordless electric power systems in nations such as Germany, France, Russia, Italy, and the United Kingdom will contribute significantly to regional market proceeds in the coming years. The region’s rapid urbanisation and booming online retailing activities will pave the road for the industry to expand significantly in the next years.
Atlas Copco, Hilti, hGears, Robert Bosch, Ingersoll-Rand, Stanley Black & Decker, and others are major contributors to the growth of the Power Tools Market and are highlighted in our report.
This report segments the global power tools market into:
Global Power Tools Market: Mode Analysis
Electric
Corded
Cordless
Pneumatic
Others
Global Power Tools Market: Tool Type Analysis
Drilling and Fastening
Sawing
Demolition
Material Removal
Global Power Tools Market: Application Analysis
Construction
Automotive
Aerospace
DIY
Others
By Region
North America
The U.S.
Canada
Europe
France
The UK
Spain
Germany
Italy
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
Southeast Asia
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa
GCC
South Africa
Rest of Middle East & Africa
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