Power Tools Market SWOT Analysis by Future Insights with Top Key Players-Stanley Black & Decker Inc., Atlas Copco AB, Robert Bosch GmbH, Techtronic Industries
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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Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small- & medium-scale enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.
Allied Market Research provides one-stop solution right from data collection to investment advice. The analysts at Allied Market Research dig out factors that help clients understand the significance and impact of market dynamics. The company applies client's insight on the factors such as strategies, future estimations, growth or fall forecasting, opportunity analysis, and consumer surveys among others. As follows, the company offers consistent business intelligence support to help clients transform into a prominent business firm.
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