Press release
Electric Power Tools Market Outlook - 2027 | Key Segments with Competitive Analysis and Global Industry Insights
Electric Power Tools Market
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Electric power tools find applications in almost all construction activities, as well as, material modifications and manufacturing activities. The constant technological advancements in the electric power tool portfolios increase their efficiencies, and productivities which thereby, surge their adoption in various applications including professional, residential, and commercial establishments. Electric power tools have revolutionized the construction, automotive, and other industries, by saving the time and effort required for simple operations including screwdriving to complicated operations such as sawing and breaking.
In addition, small sizes and easy availability of power tools promote their adoption even in normal day-to-day applications such as drilling, cutting, and others, which in turn drives the electric power tools market growth.
The increased adoption of electric power tools in the construction industry, owing to the features of electric power tools such as portability, usability in remote locations, and high productivities, drive the market growth of electric power tools. Moreover, integration of brushless motors in the electric power tools has enhanced the productivities of the electric power tools to a high extent. Brushless motors eliminate the generation of friction; thereby, providing more power in same input voltage. This ultimately improves the performance of the electric power tool.
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As a result, the introduction of brushless motors in electric power tools propels the use of electric power tools for professional heavy-duty operations; thereby, driving the growth of the electric power tools market globally. In addition, the battery efficiencies are improved considerably, in terms of battery life as well as power outputs, owing to the constant technological advancements. This is a major advantage for the use of cordless power tools in remote areas where constant power supply may not be available. In addition, the cordless power tools offer built-in batteries that eliminate the need of carrying extra baggage of compressed air or fuel tanks when compared to pneumatic and fuel powered tools. Hence, growth in popularity of cordless power tools drives the market growth.
Key Segments
The global electric power tools market is segmented on the basis of product type, end-user industry, and region. By product type, it is bifurcated into corded and cordless. The cordless segment is anticipated to dominate the global electric power tools market in the future, owing to its ease of handling and portability feature. By end-user industry, the market is classified into construction, automotive, aerospace, and others. The others segment includes energy and do-it-yourself (DIY) end users.
Geographic Review
The global electric power tools market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Russia, and rest of Europe), Asia-Pacific (India, China, Japan, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). North America is expected to hold the largest market share throughout the study period and Asia-Pacific is expected to grow at the fastest rate.
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Competition Analysis
The key electric power tools industry players profiled in the report include Apex Tool Group, Atlas Copco AB, Hilti Corporation, Ingersoll Rand Inc., Koki Holding, Co., Ltd., Makita Corporation, Robert Bosch GmbH, Stanley Black & Decker, Inc., Snap-on Incorporated, and Techtronic Industries Co., Ltd.
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