Press release
Impact Of Construction Industry Growth On The Power And Hand Tools Market Driver: Leading Transformation in the Power And Hand Tools Market in 2025
Power And Hand Tools
The expanding construction industry is expected to propel the power and hand tools market. The construction industry includes sectors involved in building infrastructure and physical structures, driven by urbanization, population growth, and economic expansion. Power and hand tools are essential for improving efficiency, speed, and precision in construction, directly influencing project outcomes. For example, in February 2023, ConstructConnect reported a 16.7% rise in U.S. construction, reaching $912 billion in 2022. Thus, the growth in the construction industry is fueling the power and hand tools market.
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What Is the projected market size and growth rate for the power and hand tools market?
The power and hand tools market has experienced consistent growth in recent years. It is projected to increase from $11.99 billion in 2024 to $12.52 billion in 2025, at a CAGR of 4.4%. The growth is attributed to the rising popularity of DIY projects and home renovations, expansion in the construction industry, greater online accessibility to tools, increased urbanization leading to more residential and commercial constructions, and the development of eco-friendly tools.
The power and hand tools market is projected to reach $14.68 billion by 2029, at a CAGR of 4.1%. The market's growth is driven by the demand for eco-friendly tools, the incorporation of AI and automation to improve functionality, urbanization, e-commerce, and a rise in customizable tools. Major trends include smart tools, advanced battery technologies, robotics in power tools, and tool customization.
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What new trends are reshaping the power and hand tools market and its opportunities?
In the power and hand tools market, companies are developing battery-powered tools with extended runtimes and smart integrated sensors. For example, Bosch Power Tools GmbH, a Germany-based company, launched the 18V REVOLVE 4000 green-beam rotary laser in January 2022. This tool offers enhanced features like higher visibility, an extended leveling range, and improved brightness for better user experience during demanding tasks.
What major market segments define the scope and growth of the power and hand tools market?
The power and hand tools market covered in this report is segmented -
1) By Type: Secateurs, Hammers, Spanners, Other Types
2) By Technology: Engine Driver, Hydraulic And Powder-Actuated, Pneumatic, Electric
3) By Application: Electronics, Construction, Aerospace, Automobiles, Other Applications
Subsegments:
1) By Secateurs: Manual Secateurs, Bypass Secateurs, Anvil Secateurs, Ratchet Secateurs, Electric Secateurs
2) By Hammers: Claw Hammers, Sledgehammers, Ball Peen Hammers, Framing Hammers, Mallets, Rubber Hammers
3) By Spanners: Open-End Spanners, Box-End Spanners, Combination Spanners, Adjustable Spanners, Torque Wrenches, Ratchet Spanners, Impact Wrenches
4) By Other Types: Pliers, Screwdrivers, Saw Blades, Drills And Drill Bits, Tapes And Measuring Tools, Chisels And Gouges, Planes And Shapers, Files And Rasps
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Which region dominates the power and hand tools market?
North America was the largest region in the power and hand tools market in 2024. The regions covered in the power and hand tools market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Which key market leaders are driving the power and hand tools industry growth?
Major companies operating in the power and hand tools market are The Bosch Limited, Danaher Corporation, Stanley Black & Decker Inc., Atlas Copco AB, Emerson Electric Co., Techtronic Industries Co. Ltd., Milwaukee Electric Tool Corporation, Makita Corporation, Ingersoll-Rand Plc, Snap-On Incorporated, MISUMI Group Inc., Chervon Holdings Limited, Apex Tool Group LLC, Fluke Corporation, Enerpac Tool Group, Chicago Pneumatic Tool, The Ames Companies In., Alberta Investment Management Corporation (AIMCo), Daniels Manufacturing Corporation, Alltrade Tools LLC, AnCor Inc., Taparia Tools
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What Is Covered In The Power And Hand Tools Global Market Report?
•Market Size Forecast: Examine the power and hand tools market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the power and hand tools market for a structured understanding.
•Key Players Overview: Analyze major players in the power and hand tools market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the power and hand tools market.
•Segment Contributions: Evaluate how different segments drive overall growth in the power and hand tools market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the power and hand tools market.
•Industry Challenges: Identify potential risks and obstacles affecting the power and hand tools market.
•Competitive Landscape: Review strategic developments in the power and hand tools market, including expansions, agreements, and new product launches.
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