Press release
COVID-19 Impact on Power Tools Market 2020 Size, Demand, Cost Structures, and Future Forecasts to 2027
Integration of brushless motors in electric power tools, growing adoption of power tools in the construction industry, and rapid industrialization coupled with a rise in infrastructure spending have boosted the growth of the global power tools marketAllied Market Research recently published a report, titled, "Power Tools Market by Mode of Operation (Electric, Pneumatic, and Others), Tool Type (Drills, Material Removal Tool, Saws, Wrenches, and Others), and Application (Industrial and Do-It-Yourself (DIY)): Global Opportunity Analysis and Industry Forecast, 2020–2027". According to the report, the global power tools market was pegged at $32.66 billion in 2019 and is projected to reach $48.67 billion by 2027, growing at a CAGR of 4.8% from 2020 to 2027.
Download Sample PDF(294 Pages):https://www.alliedmarketresearch.com/request-sample/1734
DIY segment to manifest highest CAGR through 2027
The DIY segment is expected to portray the highest CAGR of 5.2% during the forecast period, due to rise in DIY culture and increased trend of the e-retail platform in developing nations, which made it easy for the non-professional users to buy power tools. However, the industrial segment held the largest share in 2019, accounting for nearly two-thirds of the total revenue.
The electric segment to witness high demand
Based on mode of operation, the electric segment held the largest share in 2019, accounting for nearly one-third of the market and is projected to register the highest CAGR of 5.1% during the forecast period. This is due to massive growth in the construction and manufacturing industries in the developing countries.
The consumption of power tools streamlines human work by reducing the load of repetitive tasks and by lessening the chances of human injury &errors. Advancement of smart technologies, high costs of labor, and the introduction of energy-efficient &low-cost power tools lift the development of the global power tools market.
Get detailed COVID-19 impact analysis on the Power Tools Market:https://www.alliedmarketresearch.com/request-for-customization/1734?reqfor=covid
North America dominated the market
The market across North America held the largest share in 2019, contributing to nearly one-third of the market, owing to high adoption rate of electric power tools in the region. However, the market across LAMEA is expected to manifest the highest CAGR of 6.2% during the study period, as major power tool manufacturers have established their subsidiaries to promote better sales and services in the developing regions.
Major market players
• Atlas Copco AB
• Hilti Corporation
• Emerson Electric Co.
• Koki Holdings Co., Ltd.
• Ingersoll-Rand plc
• Robert Bosch GmbH
• Makita Corporation
• Stanley Black & Decker Inc.
• Snap-on Incorporated
• Techtronic Industries Co. Ltd.
A rise in use of pneumatic power tools in commercial industries,which includes automotive and construction haveenhanced the share and demand for pneumatic power tools in the global market. The pneumatic power tools segment is projected to surge at a CAGR of 3.6% throughout the study period.
Connect with Analyst:https://www.alliedmarketresearch.com/connect-to-analyst/1734
Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free (USA/Canada): +1-800-792-5285, +1-503-446-1141
International: +1-503-894-6022
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com
Follow Us on LinkedIn: https://www.linkedin.com/company/allied-market-research/
About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release COVID-19 Impact on Power Tools Market 2020 Size, Demand, Cost Structures, and Future Forecasts to 2027 here
News-ID: 2098183 • Views: …
More Releases from Allied Market Research
Rapid Growth Ahead: Smart Air Purifiers Market Expected to Touch $17.65 Billion …
Allied Market Research has released a report titled, "Smart Air Purifiers Market by Product Type (Dust Collector, Fume & Smoke, Others), Technique (HEPA, Thermodynamic Sterilization System, Ultraviolet Germicidal Irradiation, Ionizer, Activated Carbon Filtration, Others), and End User (Residential, Commercial, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032." According to the report, the global smart air purifiers market was valued at $5,475.0 million in 2020 and is projected to reach $17,656.3…
Food Service Equipment Market Research Overview, Share, Size, Analysis, and Fore …
food service equipment market size was valued at $35.8 billion in 2023, and is estimated to reach $74.4 billion by 2035, growing at a CAGR of 6.3% from 2024 to 2035.
Food service equipment includes a comprehensive range of appliances, tools, and machinery critical to the efficient preparation, cooking, storage, and serving of food and beverages in commercial environments such as restaurants, hotels, cafeterias, and catering services. This category encompasses everything…
Aircraft Ejection Seat Market Global Growth, Size, Trends, Industry Analysis, Ke …
The aircraft ejection seat is a system designed specifically to rescue the pilot or other crew members of an aircraft in a state of emergency. To save the life of the pilot in the event of an accident or malfunction on-board, seat ejection from the aircraft is considered as one of the primary countermeasures. In addition, the recent aircraft models come up with aircraft ejection seats that are designed to…
Sugar Substitute Market Size | Industry Thriving Worldwide at a Significant Grow …
Sugar is the soluble carbohydrate with a sweet taste and is widely used in a variety of foods but the rise in number of diseases due to high consumption of sugar has led to the demand for alternative products. Sugar substitute also known as low-calorie sugar is the alternative used instead of actual sugar and is considered as a food additive that provides a sweet taste to the product but…
More Releases for CAGR
[CAGR of 6.7%] Nanocoatings Market Size, Industry Share, CAGR, Regional Forecast …
The global Nanocoatings Market generated $10.7 billion in 2020, and is projected to reach $20.1 billion by 2030, growing at a CAGR of 6.7% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.
Download sample PDF @ https://www.alliedmarketresearch.com/request-sample/2064
According to the report published by Allied Market Research,…
[CAGR of 5.3%] Pigments Market Size, Industry Share, CAGR, Regional Forecast, 20 …
A recent report by Allied Market Research provides a detailed analysis of the pigments market, highlighting its robust growth. The industry was valued at $27.2 billion in 2022 and is projected to surge to $45.4 billion by 2032, exhibiting an impressive CAGR of 5.3% from 2023 to 2032.
This research report identifies the growth drivers behind the market's expansion and delves into the market dynamics using advanced analytical frameworks…
Enzymes Market Expansion CAGR of 4.9% CAGR Anticipated 2025-2034
The Enzymes Market report is an in-depth examination of the global Enzymes Market's general consumption structure, development trends, sales techniques, and top nations' sales. The research looks at well-known providers in the global Enzymes Market industry, as well as market segmentation, competition, and the macroeconomic climate. A complete Enzymes Market analysis takes into account a number of aspects, including a country's population and business cycles, as well as market-specific microeconomic…
Waterproofing Membranes Market is Projected Grow at CAGR of 8% CAGR by 2033
The waterproofing membranes market is anticipated to witness a Compound Annual Growth Rate (CAGR) of 8.0% over the forecast period. By 2023, the estimated market value for waterproofing membranes is substantial, reaching US$ 31.5 billion.
These waterproofing materials comprise thin, impermeable membranes designed to collaborate with asphalt, providing a protective shield for the structural integrity of buildings. The asphalt component in these membranes acts as a safeguard, preserving the underlying membrane…
Electric Bed Market CAGR, Size, Share Grow USD 2,063 Million by 2030 CAGR 13.70%
Global electric bed market size is expected to be worth roughly USD 2,063 million by 2030, growing at a CAGR of more than 13.7% during the projected timeframe of 2022-2030, according to Ameco Research
A significant portion of the population over the age of 60, who often have reduced immunity levels and are more susceptible to neurological disorders, cardiac issues, tumors, and spinal cord compression, is anticipated to have a substantial…
Pediatric Radiology Market Size will Grow at CAGR 7.7% CAGR during 2017-2026
Pediatric Radiology Market:Overview
The pediatric radiology market is likely to register robust growth in the near future. Chronic illnesses among children including neurological disorders such as ADHD are on the rise. According to the US labor bureau, the demand for pediatrician is expected to grow by 24% on average by 2020. This is the highest average growth among all professionals in the United States.
Despite challenges such as training for new…
