Press release
Electric Power Tools Market is projected to reach $49,242.6 million by 2030
The global electric power tools market size is expected to generate revenue worth $24,063.0 million in 2020 and is projected to reach $49,242.6 million by 2030, registering a CAGR of 6.8% during the forecast period.
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Electric power tools have revolutionized the construction, automotive, and other industries, by saving the time and effort required for simple operations including screw driving to complicated operations such as sawing and breaking. The constant up gradations in these electric power tools also assist in boosting their demand. In addition, the ease of use provided by electric power tools has made them popular even for non-professional users mainly in household operations.
Although the electric power tools provide more productivity and efficient operations, the technologies employed during manufacturing lead to bolster in their initial prices. The pneumatic power tools have been in the market for a long time, and have gained popularity in terms of their performance as well as lower prices. This clearly shows the price difference between pneumatic tool and electric tool, which hinders the adoption of electric power tools; thereby, restraining its market growth.
Geographic Review
The global electric power tools market is analyzed across four geographical regions that include 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).
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Top 10 Leading Players
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
Techtronic Industries Co., Ltd
Key Segments
By Product Type
Corded
Cordless
By End-user Industry
Construction
Automotive
Aerospace
Others
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