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Significant Demand from the Industry Applications is Expected to Drive Power Tools Market over the Forecast Period: Ken Research

10-22-2020 09:52 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: Ken Research Pvt Ltd

Significant Demand from the Industry Applications is Expected

The power tools devices include assembly tools, precision instruments requiring at a regular maintenance of the moving parts. These tools can be calibrated at any given time as per the precision of operation required. The power tool can be defined as equipment that can be started and operated by an additional power source such as electric motor, IC engines, and compressed air. The power tools devices are used for different applications associated to construction, shipbuilding, energy, and automotive industry. The power tools devices are also used over commercial, industrial applications such as drilling, cutting, shaping, sanding, grinding, routing, polishing, painting, heating and so on. These tools are also available in different forms that are simple in operation that include tools hammer drills, electric screwdriver, and fast screw guns. These tools have significant applications over the metal fabrication, automotive industry, and other construction sites.

According to study “Power tools market research report” some of the key players manufacturing power tools include Atlas Copco AB, Emerson Electric Co., Makita Corporation, Robert Bosch GmbH, Snap-on Incorporated, Stanley Black & Decker Inc., Hilti Corporation, Ingersoll-Rand plc, Koki Holdings Co., Ltd., and Techtronic Industries Co. Ltd. The key players operating over the power tools market are following up the new strategies related to product launch and business expansion in order to strengthen or gain the market as per the competition in the market. These strategies are well explained in our power tools market growth analysis research study.

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The ease of use and availability with portability features of electric power tools is expected to stimulate implementation of everyday applications such as drilling, sawing, and cutting, which in turn expected to boosts global power tools market revenue. Further, market is significantly expected to register the increased adoption owing to key factors including the rise in application of power tools for automobile, aerospace, energy and many others. Moreover, demand of these power tools will further be driven by increase in adoption of battery based or remote operation based electric power tools, and growth of energy efficient power tools. However, high purchase costs may impact the growth of market. The power tools are often available and used in various forms that are simple to operator including hammer drills, electric screwdriver, and fast screw gun.

The ever growing construction industry, primarily over the emerging economies has further supported the demand related to smart power tools that have wireless connectivity. Moreover, the power tools industry is further expected to register significant evolutions in respect of tool design, & productivity, battery performance, and any other connectivity based technologies. The manufacturers are expected to invest more for the cordless tools for making easy for themselves. The use of power tools have also led to the availability of the skilled labour with high costs. The professionals starting from the much basic services are also expected to create enough opportunities and driving the demand for power tools that may further drive power tools market revenue. In our power tools market future outlook we analysed various applications such as automotive, activities involved in high-strength tasks and the cutting of heavy metals. Moreover, the ongoing investment for power tools market in upcoming time multiplying the growth of the market.

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Ken Research
Ankur Gupta, Head Marketing & Communications

Ken Research Pvt. Ltd.,
Unit 14, Tower B3, Spaze I Tech Business Park, Sohna Road, sector 49 Gurgaon, Haryana - 122001, India

Ken Research is a Global aggregator and publisher of Market intelligence, equity and economy reports. Ken Research provides business intelligence and operational advisory in 300+ verticals underscoring disruptive technologies, emerging business models with precedent analysis and success case studies. Serving over 70% of fortune 500 companies globally, some of top consulting companies and Market leaders seek Ken Research’s intelligence to identify new revenue streams, customer/ vendor paradigm and pain points and due diligence on competition.

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