Power Tools Market SWOT Analysis by Future Insights with Top Key Players-Stanley Black & Decker Inc., Atlas Copco AB, Robert Bosch GmbH, Techtronic Industries

North America accounted for more than one-third share of the global power tools market in 2015. The presence of key market players in the U.S. and upsurge in construction activities especially in the residential sector have fueled the market growth.

Power Tools Market report, published by Allied Market Research, forecasts that the global market is expected to garner $39,639 million by 2022, registering a CAGR of 5.4% during the forecast period 2016 to 2022. In the year 2015, the electric power tools segment dominated the global market with more than 69% share in terms of revenue.

Power tools are widely used in construction and manufacturing industries, globally, as they consume less time and labor. Moreover, rapid industrialization and growing automotive production in emerging countries such as India, and the usage of power tools in house renovations and other tasks are expected to boost the demand for power tools.

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Asia-Pacific is projected to be the fastest-growing regional market during the forecast period due to higher adoption of power tools over hand tools in various industries and extensive growth in countries such as China and India.

Key Findings of the Power Tools Market:
o The pneumatic power tools segment is expected to witness significant growth in the power tools market due to the growing adoption of this technology in the construction industry.
o North America is projected to exhibit a notable growth during the forecast period, owing to the upsurge in demand for power tools in automotive industries based out in the U.S. and Canada.
o The U.S. dominates the North American power tools market, contributing about 79% share of the market in 2015.

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The major companies profiled in this report include Stanley Black & Decker Inc., Atlas Copco AB, Robert Bosch GmbH, Techtronic Industries Co. Limited, Actuant Corporation, Makita Corporation, Danaher Corporation, Emerson Electric Co., Hitachi Koki Co. Ltd., and Hilti Corporation.

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