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Electric Power Tools Market Major Manufacturers, Trends, Demand, Analysis and Forecasts to 2030
global electric power tools market is expected to generate revenue worth $24.1 billion in 2020 and is projected to reach $49.2 billion by 2030, registering a CAGR of 6.8% during the forecast period. In 2020.
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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.
The research report provides deep insights into the global market revenue, parent market trends, macro-economic indicators, and governing factors, along with market attractiveness per market segment. The report provides an overview of the growth rate of electric power tools market during the forecast period, i.e., 2021-2030. Most importantly, the report further identifies the qualitative impact of various market factors on market segments and geographies. The research segments the market on the basis of product type, application, technology, and region. To offer more clarity regarding the industry, the report takes a closer look at the current status of various factors including but not limited to supply chain management, niche markets, distribution channel, trade, supply, and demand and production capability across different countries.
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The scope of the Report:
The report segments the global electric power tools Market based on application, type, service, technology, and region. Each chapter under this segmentation allows readers to grasp the nitty-gritty of the market. A magnified look at the segment-based analysis is aimed at giving the readers a closer look at the opportunities and threats in the market. It also addresses political scenarios that are expected to impact the market in both small and big ways. The report on the global electric power tools Market examines changing regulatory scenarios to make accurate projections about potential investments. It also evaluates the risk for new entrants and the intensity of the competitive rivalry.
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Key Findings Of The Study
• Depending on product type, cordless segment was the largest revenue generator in 2020.
• By end user industry, the construction segment generated the highest revenue in 2020.
• Region wise, North America is anticipated to dominate the global electric power tools market share throughout the study period.
• The report provides an extensive analysis of the global electric power tools market trends and emerging opportunities of the market.
• The global electric power tools market forecast analysis from 2021 to 2030 is included in the report.
Market 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, and Techtronic Industries Co., Ltd. ________________________________________________________________________
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