Press release
Power Tools Market by Mode of Operation, Tool Type, Application, Forecast, 2020–2027 | Key Drivers, Restraints and Opportunities
Power Tools Market
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According to a new report published by Allied Market Research, titled, “Power Tools Market by Mode of Operation, Tool Type, and Application: Opportunity Analysis and Industry Forecast, 2020–2027,” the global power tools market size was $32.7 billion in 2019, and is projected to reach $48.7 billion by 2027, registering a CAGR of 4.8% from 2020 to 2027.
The global power tools market is expected to grow at a substantial rate owing to a surge in popularity of DIY techniques, investments in infrastructural developments, and a rise in disposable income of people. During the past few years, India spent nearly one-ninth share of its GDP on infrastructural development activities, which is anticipated to escalatein the upcoming years. This growth in infrastructural improvement activities is anticipated to fuel the adoption of power tools in India.
In addition, the continual progressions in the power tools by key players aid in enhancing their demand. For instance, in November 2019, Dremel, a brand of Bosch, developed its cordless Dremel Lite multi-tool. The new tool is cordless and has a compact design. It has a weight of 270 grams and can operate at speeds of 8,000 to 25,000 revolutions per minute.
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By Mode Of Operation
Electric
Corded Power Tools
Cordless Power Tools
Pneumatic
Others
By Tool Type
Drills
Saws
Wrenches
Material Removal Tool
Others
By Application
Industrial
Construction
Automotive
Aerospace
Others
Do-It-Yourself (DIY)
By Region
North America
Europe
Asia-Pacific
LAMEA
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Key Players
The key players profiled in the global power tools market report include Atlas Copco AB, Emerson Electric Co., Hilti Corporation, Ingersoll-Rand plc, Koki Holdings Co., Ltd., Makita Corporation, Robert Bosch GmbH, Snap-on Incorporated, Stanley Black & Decker Inc., and Techtronic Industries Co. Ltd.
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About Us
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.
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