Press release
Power Tools Market was worth US$ 32.27 Bn in 2022 and overall revenue is anticipated to rise at a rate of 4.6% from 2023 to 2029, reaching almost US$ 44.22 Bn in 2029.
Power Tools Market
The comprehensive report, spanning from 2018 to 2029, delves into market trends, with 2022 as the base year. Special attention is given to the pandemic's impact on demand and supply, analyzing the effects of the lockdown on the market for the next two years. Strategic analyses of companies that thrived during the lockdown are also featured.
Our market assessment is meticulously crafted, employing a triangulation of data points from diverse sources. Paid and unpaid sources, coupled with primary interviews featuring key opinion leaders (KOLs) from both demand and supply sides, contribute to an unbiased market understanding. The country-specific approach ensures accuracy, with regional data culminating in a global market valuation.
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Power Tools Market Dynamics:
The global power tools market is driven by the increased adoption of cordless tools, particularly those powered by lithium-ion batteries. The rise of the do-it-yourself (DIY) culture contributes to the growth of residential applications, while industrial applications dominate, accounting for over 63.0% of revenue in 2022. Challenges include power tool product safety and regulatory compliance, as well as maintenance costs in the face of readily available low-cost manual labor.
Power Tools Market Regional Analysis:
In 2022, Asia Pacific held the largest market share at 33.2%, with a projected highest Compound Annual Growth Rate (CAGR) during the forecast period. Europe, led by Germany and the United Kingdom, is poised for robust growth, driven by manufacturing and production operations. North America, accounting for 26.2% in 2022, experiences increased demand due to infrastructural and industrial growth.
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Power Tools Market Segmentation:
by Application
Automobiles
Construction
Electronic
Aerospace
Industrial
Logistics
Energy
Shipbuilding
by Power Source
Cordless Electric Power tools
Corded Electric Power tools
Pneumatic Power tools
by Tool Type
Drilling and Driving tools(Screwdrivers, Nutrunners, Impact drivers)
Demolition tools (Rotatory hammers, Hammer drills, Demolition Hammers)
Sawing and Cutting tools (Jigsaw, reciprocating saws, band saws, circular saw, shears and nibblers)
Material removing tools(sanders, polishers, buffers, grinders)
Routing tools(Palm routers, laminate routers) & others
by End-User
Residential
Non residential
Power Tools Market Key Players:
1. Robert Bosch GmbH
2. Actuant Corporation
3. Danaher Corporation
4. Techtronic ABB
5. Stanley Black & Decker
6. Makita
7. INTERSKOL
8. FERM
9. Positec Group
10. Emerson Electric
11. Chevron Group
12. Snap-on
13. Atlas Copco
14. Chevron Group
15. Deprag Schulz
16. Hilti
17. Koki Holdings Co., Ltd.
18. Festool GmbH
19. KYOCERA Corporation
20. Ingersoll Rand
21. Husqvarna AB
22. Panasonic Corporation of North America
23. Techtronic Industries Co. Ltd.
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Table of content for the Power Tools Market includes:
1. Global Power Tools Market: Research Methodology
2. Global Power Tools Market: Executive Summary
Market Overview and Definitions
Introduction to the Global Market
Summary
Key Findings
Recommendations for Investors
Recommendations for Market Leaders
Recommendations for New Market Entry
3. Global Power Tools Market: Competitive Analysis
MMR Competition Matrix
Market Structure by region
Competitive Benchmarking of Key Players
Consolidation in the Market
M&A by region
Key Developments by Companies
Market Drivers
Market Restraints
Market Opportunities
Market Challenges
Market Dynamics
PORTERS Five Forces Analysis
PESTLE
Regulatory Landscape by region
North America
Europe
Asia Pacific
Middle East and Africa
South America
COVID-19 Impact
4. Company Profile: Key players
Company Overview
Financial Overview
Global Presence
Capacity Portfolio
Business Strategy
Recent Developments
COVID-19 Impact Analysis on Power Tools Market:
The impact of COVID-19 pandemic on Power Tools market has also been included in the report.
Key Questions Answered in the Power Tools Market Report are:
Which are the prominent players in the Power Tools market?
What key trends are likely to emerge in the Power Tools market in the coming years?
What will be the Power Tools market size by 2029?
Which company held the largest share in the Power Tools market?
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About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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