Press release
Europe Power Tools Market - Industry Trends and Forecast to 2029
Europe Power Tools Market - Industry Trends and Forecast to 2029
Market Analysis and Insights: Europe Power Tools Market
• Power tools market is expected to gain market growth in the forecast period of 2022 to 2029. Data Bridge Market Research analyses that the market is growing with a CAGR of 5.4% in the forecast period of 2022 to 2029 and is expected to reach USD 17,979.46 million by 2029. Launch of integrated smart connected devices is a driving factor for the market growth.
Europe Power Tools Market Scope and Market Size
Europe power tools market is segmented on the basis of type, mode of operation, application, material, end-user, and sales channel. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
• On the basis of type, the market is segmented into sawing and cutting tools, drilling and fastening tools, demolition tools, nailers, routing tools, portable nibblers, air-powered tools, material removal tools, electric cords and plugs, chisels, accessories, others. In 2022, saw and cutting might dominate the type segment and expected to grow at greater rate considering wide application and high usage of cutting tools for metalworking and woodworking.
• On the basis of mode of operation, the market is segmented into electric, liquid fuel tool, hydraulic, pneumatic, powder-actuated tools. In 2022, electric will hold the largest market shares in mode of operation segment as most of the tools purchased are electric based due to its less cost of operation and ease of operation.
• On the basis of application, the market is segmented into concrete and construction, woodworking, metalworking, welding, others. In 2022, concrete and construction holds largest market share in the application segment and is expected to grow at higher rate as growing infrastructure around the world where heavy power tools are required as concrete structure are not easy to break or change.
• On the basis of material, the market is segmented into concrete, wood/metal, brick/block, glass, others. In 2022, material segment will be dominated by concrete considering its coherency with application segment. Also; concrete material is tough structure and it requires power tools to change it.
• On the basis of end user, the market is segmented into industrial/professional, residential. In 2022, industrial/professional will dominate end user segment and expected to grow at higher rate considering large scale operations in industrial fields which needs to be completed in minimum time where power tools are great assistance.
• On the basis of sales channel, the market is segmented into indirect sales, direct sales. In 2022, sales channel segment will be dominated by indirect sales as these tools are mostly purchased from distributors or vendors; however, with growing e-commerce sector and direct online sales by company's direct sales are growing at higher rate.
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