Portable Tools Market to Cross US$ 102.1 billion in Revenues by 2032-end at a CAGR of 4.4%

Portable Tools Market

The market for portable tools is expected to reach US$ 82.4 billion in 2022 and US$ 102.1 billion by 2032. According to the analysis presented in the report, the global portable tools market is expected to grow at a CAGR of 4.4% during the forecast period 2023-2032.

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Players in the industrial automation and equipment industry continue to face an environment that remains hyper-competitive. Evolution in end-user demand is influencing players in the industrial automation and equipment landscape to optimize their manufacturing process. Sluggishness in the oil & gas industry, muted growth in automotive sales, and stagnancy in the agriculture sector have posed challenges to players in the recent past.

With the increase in oil rigs and natural gas projects being quoted, various companies are making reinvestments, to either cater requirement of preventative maintenance or for generating a better ROI. Investing in infrastructure development remains a top priority for the industrial automation and equipment companies, with improvements in energy- and operational-0efficiency gaining center stage.

Continuous advances are witnessed in the progressive integration of information technology (IT) and operational technology (OT), along with the evolution of business systems for handling real-time transaction processing. Building blocks are being offered by innovators, designed specifically for accomplishing the aim of "connected enterprise". New intelligent nodes, operating at the network edge for improving efficiency and performance of manufacturing processes, are offered by rapid propagation of technologies & concepts associated with Internet of Things (IoT).

A major challenge encountered by the global industrial automation and equipment industry is absence of multi-vendor application portability. Innovation is stifled without open ecosystems offering portable applications to vendor platforms. On account of this, non-traditional suppliers have embarked on launching next-generation products that are embedded with IoT software.

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Key Players- 

• Akar Tools Ltd.
• Apex Tools Group
• Atlas Copco AB
• Channellock, Inc.
• Danaher Corporation
• Emerson Electric Co. (RIDGID)
• Fiskars Group
• General Tools & Instruments LLC
• Makita Corporation
• JK Files (India) Limited
• Kennametal Inc.
• Klein Tools
• Robert Bosch GmbH
• Q.E.P. Co., Inc.
• Snap-On Inc.
• Stanley Black & Decker, Inc.
• Techtronic Industries Company Limited
• Wera Tools
• 3M Co.
• DowDuPont Inc
• Honeywell International Inc. and more

Data Analysis and Projection

Data analysis and projections were made based on proprietary research frameworks and statistical analysis, which was further validated from industry participants. These frameworks include Y-o-Y growth projections, macro-economic factor performance, market attractiveness analysis, key financial ratios, and others.

For public companies we capture the data from company website, annual reports_bk_01_01_2020, investor presentations, paid databases. While for privately held companies, we try to gather information from the paid databases (like Factiva) and based on the information we gather from databases we estimate revenue for the companies. In addition, the team tries to establish primary contact with the companies in order to validate the assumptions or to gather quality inputs.

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Standard Report Structure

• Executive Summary
• Market Definition
• Macro-economic analysis
• Parent Market Analysis
• Market Overview
• Forecast Factors
• Segmental Analysis and Forecast
• Regional Analysis
• Competition Analysis
• Target Audience
• Production Companies
• Suppliers
• Channel Partners
• Marketing Authorities
• Subject Matter Experts
• Research Institutions
• Financial Institutions
• Market Consultants
• Government Authorities

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