Global power tools market size is expected to grow at a CAGR close to 6% by 2022
Power tools stand as an integral part ofthe 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 ofthe worldwide power tool market. The market research report provides a comprehensive study ofthe present scenario and growth forecast ofthe 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.
For more information about this report: http://www.reportsweb.com/global-power-tools-market-strategic-assessment-and-forecast-2017-2022
Scope ofThe Report
The report provides the analysis ofthe key segments ofthe 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 ofeach segment such as
By Equipment Type
IC or Hydraulic
Other countries in APAC
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Power Tools Market – Market Size & Dynamics
Analysts at Publisher 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 ofrevenue. One ofthe 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 oftheir usage especially in the DIY segment.
Electric motor remains to be the most widely preferred choice because oftheir 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 ofthe power tools market generating a major chunk ofthe market revenues. Whereas Publisher analysts expect the cordless domain with most ofaction and one ofthe segment capable ofshaping the prospects ofcordless power tools market.
Household demand for power tools is driven by Do-it-yourself trend wherein Industrial power tools form an indispensable part ofmanufacturing and infrastructural end uses. Sales ofindustrial power tools is expected to surpass that ofhousehold 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 ofthe 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 ofall the emerging trends, growth drivers and expected challenges ofthe market. Shortage ofskilled manpower driving automation, battery innovations and the rise ofapp-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 ofpower 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 ofall the regions and provides the market size and forecast ofkey countries.
US is the world’s largest market for Power tools driven by high degree ofmechanization, better availability ofrange and awareness, followed by China. China despite being the second largest market for power tools is the largest manufacturer ofthe same, exporting a significant percentage ofthe 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 ofcheaper factors ofproduction 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 ofkey 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.
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