Power Tools Market Growth Statistics 2021: Industry Application Share and Top Company Profile Analysis- AB, Emerson Electric, Hilti Corporation

A power tool is a tool that is driven by an additional power source and mechanism other than manual labor. GrowethThe most commonly used power tools to use electric motors. There are different types of power tools including an electric screwdriver, hammer drills, etc. Typically, power tools are used in manufacturing, construction, and DIY activities. These tools are available in different sizes and shapes and are fairly easy to operate. Generally, there are two categories of power tools namely portable and stationary.

The global power tools market is estimated to account for US$ 30,000.8 Mn in terms of value in year 2019, and is expected to grow at CAGR of 5.1% for the period 2020-2027.

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Globally, the adoption of power tools has increased significantly in the recent past. This is owing to major advantages offered by cordless tools over corded tools such as portability, lightweight, and less equipment to carry. Corded power tools essentially bulky in handling and since they are connected to a power source, users find it difficult in maneuvering the tool.

Furthermore, corded power tools are connected to an electric source and if there is no electricity offered, these tools cannot be used. This can pose a major challenge when construction begins. Besides, corded power tools require frequent replacement of cords since faulty cords can pose a potential safety hazard to uses. Cordless power tools can be maneuvered easily and are lightweight hence they are more convenient to operate. Therefore, these factors are expected to drive growth of the global power tools market during the forecast period.

Key Players in the Global Power Toolss Market:-
Key players operating in the global power tools market are Apex Tool Group LLC, Atlas Copco AB, Emerson Electric, Co Techtronic Industries, Hilti Corporation, Stanley Black & Decker, Ingersoll-Rand plc, Robert Bosch, Koki Holdings Co., Ltd., and Makita Corporation.

Global Power Toolss Market Taxonomy:-
• By Tool Type: (Drilling Solutions, Material Removal, Sawing, Wrenches, Other Solutions)
• By Mode of Operation: (Electric (Corded, and Cordless), Pneumatic))
• By Application: (Industrial, and DIY)

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The report also sheds light on the vendor landscape, in order to inform the readers about the changing dynamics of the market. The report plays host to information such as the power Tools products developed by these companies, that is certain to help established companies as well as new entrants to plan their strategies. The researchers and analysts have provided in-depth analysis of the market segmentation based on the type, application, and geography.

Geographical Cover:-
• North America: U.S. and Canada
• Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
• Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
• Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
• Middle East and Africa: GCC Countries, South Africa, and Rest of Middle East and Africa

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