Power Tools Market 2023 Expected To Reach USD 37.89 Billion Driving CAGR of 6.80% till 2030 | Robert Bosch, Hitachi, Husqvarna, Stanley Black & Decker

Power Tools Market Future Insights

According to MRFR analysis, the global Power Tools Market is expected to register a CAGR of ~ 6.80% from 2021 to 2030 and hold a value of over ~USD 37.89 billion by 2030.

Power tools are those semiconductor tools that are cast off for an extensive range of industrial applications when actuated by the additional power source. Circular saws, grinders, routers, jigsaws, drills, hammer drills, and numerous others are instances of power tools.  A power tool is actuated by an additional device and power source other than the wholly manual labor used with hand tools.

Key Growth Factors

• Broader Scope In Developing Nations
• Increasing Demand From Industrial Sector Increasing Demand From Professional Segment

The most mutual types of power tools are internal combustion engines, electric motors, and compressed air. With the upsurge in demand for power tools in the manufacturing and automotive industries, the power tools market is awaited to develop exponentially. Furthermore, the power tools find their huge usages in assembly lines and automotive production, thereby supporting the jobs with faster results. It also helps a lot in diminishing the overall period that it takes to complete the entire task within the stated time frame.

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Power Tools Market Segmentation

The global Power Tools Market has been segmented into type and application.

Based on the Type, The global Power Tools Market has been segmented into Engine-driven Power Tools, Electric Power Tools, Pneumatic Power Tools, Hydraulic Power Tools, and others

Based on the Application, The global Power Tools Market has been segmented into Industrial, Professional, and Household

Power Tools Market Key Players

Some of the key market players are

• Atlas Copco AB (Sweden)
• Ingersoll Rand (U.S.)
• Snap-on Incorporated (U.S.)
• Apex Tool Group (U.S.)
• Stanley Black & Decker Inc. (U.S.)
• Robert Bosch GmbH (Germany)
• Techtronic Industries Co. Ltd. (China)
• Makita Corporation (Japan)
• Hilti Corporation (Liechtenstein)
• Koki Holding Co.Ltd. (Japan)
• Honeywell International Inc. (U.S.)

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Power Tools Market Regional Analysis

Asia-Pacific dominates the power tools market in terms of revenue and market share owing to the constant demand for highly efficient and cost-effective power tools by an extensive range of industry verticals. Furthermore, rising government initiatives toward improving infrastructural development and industrial facilities in this region.

North America will last to project the highest growth rate during the estimated period of 2023-2030 due to the existence of major market players such as Emerson Electric Co., and Apex Tool Group in the region.

Table of Content

1 Executive Summary

2 Introduction

2.1 Definition 13

2.2 Scope Of The Study 13

2.3 Assumptions 13

2.4 Market Structure 14

3 Research Methodology

3.1 Research Process 15

3.2 Primary Research 16

3.3 Secondary Research 16

3.4 Market Size Estimation 16

3.5 Forecast Model 18

4 Market Dynamics

4.1 Drivers 20

4.1.1 Increasing Demand From Industrial Sector 20

4.1.2 Increasing Demand From Professional Segment 20

4.1.3 Increasing Usage Of Power Tools For DIY & Household Activities 21

4.2 Restraints 22

4.2.1 Fluctuation In Raw Material Prices 22

4.3 Opportunities 22

4.3.1 Broader Scope In Developing Nations 22

…Continued.

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Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. MRFR’s approach combines the proprietary information with various data sources to give an extensive understanding to the client about the latest key developments, expected events and about what action to take based on these aspects.

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