Press release
Power Tools Market - Rising Construction Activities Worldwide to Boost Demand
The rapid industrialization has further bolstered opportunities for power tools sales across these developing nations. Supported by the emerging concept of do-it-yourself (DIY) techniques, demand for power tools is expected to rise at a CAGR of 5.3%. As per Transparency Market Research (TMR), the global power tools market, which stood at US$26.1 bn in 2014, is expected to reach US$38.03 bn by the end of 2021.
Since the use of power tools is considerably high in the construction industry, investment in infrastructural development will subsequently bolster their sales. Despite their rising application across diverse industries, the high maintenance cost of power tools will threaten the market’s growth to an extent.
Opportunities in Asia Pacific Poised to Surge Exponentially
Regionally, producers of power tools have been witnessing rising demand in Asia Pacific and North America. Since the market in North America has already reached maturity, it demonstrates not many prospects for growth.
Request A Sample Of This Report -
http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=5537
The Asia Pacific market for power tools on the contrary is bustling with opportunities. As per TMR, the region held a dominant share of 34% in the global power tools market in 2014. The infrastructural development currently underway in India and China has been crucial in fuelling demand from the Asia Pacific power tools market.
TMR estimates the power tools market in Asia Pacific to reach US$13.4 bn by 2021 from a valuation of US$8.8 bn in 2014. If these figures hold true, the Asia Pacific power tools market will exhibit a CAGR of 5.9% from 2015 to 2021. Based on technology, the demand for electric power tools is expected to surge at the highest pace during the forecast period.
Growth witnessed by the market in North America is expected to stagnate in the forthcoming years. Nevertheless, due to the changing lifestyle preference, the demand for electric power tools is projected to rise at a steady pace.
The U.S. and Canada will emerge as the primary contributors to the power tools market in North America. The rise in construction applications will, however, secure demand for power tools in the region through the forecast period.
About TMR
TMR is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
Contact TMR
90 State Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email:sales@transparencymarketresearch.com
Website:http://www.transparencymarketresearch.com
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Power Tools Market - Rising Construction Activities Worldwide to Boost Demand here
News-ID: 424554 • Views: …
More Releases from TMR - Research Reports
Pulmonary Drugs Market is Expected to Reach US$ 28,082.1 Million by the End of 2 …
According to the research report, the global pulmonary drugs market is expected to be worth US$ 28,082.1 mn by the end of 2024 as compared to US$ 48,039.7 mn in 2015. Analysts calculate that the global market will plummet at a CAGR of -6.3% during the forecast period of 2016 and 2024. The market will thrive as the demand for combination drugs is anticipated to remain on the rise during…
North America Ventricular Assist Device Market is rising to a valuation of US$ 1 …
According to TMR, the opportunity in the North America market for VADs, which stood at US$0.4 bn in 2015, is likely to expand at a healthy CAGR of 9.20% between 2016 and 2024 and increase to US$1.07 bn by the end of the forecast period. The destination therapy (DT) segment has been reporting a greater application of VADs than the other two indication segments. It is expected to remain the…
Dental Membrane and Bone Graft Substitutes Market to rise to US$ 922.6 Million b …
Transparency Market Research notes that innovation and expansion into emerging regions have served these companies well in strengthening their hold in the dental membrane and bone graft substitutes market. For instance, Switzerland-based Geistlich Pharma AG - a global manufacturer and supplier of dental products and devices - expanded its operations in Sydney, Australia and New Delhi, India in 2016.
The global dental membrane and bone graft substitutes market is expected to…
Human Vaccines Market is Estimated to Reach US$ 72.5 Billion by 2024
The global human vaccines market was valued at US$28.3 bn in 2015 and is estimated to reach US$72.5 bn by 2024, registering an 11.2% CAGR during the forecast period.
By age group, pediatric vaccines accounted for a 57.5% share in the global human vaccines market in 2015. Adult vaccines, on the other hand, are expected to expand at a 13.2% CAGR from 2016 to 2024. Based on product, the pneumococcal segment…
More Releases for Asia
South East Asia Business Jet Market And Top Key Players are Asia Corporate Jet, …
By 2022, the South East Asia Business Jet Markets estimated to reach US$ XX Mn, up from US$ XX Mn in 2016, growing at a CAGR of XX% during the forecast period. The Global Business Jet Market, currently at 21 million USD, contributes the highest share in the market and is poised to grow at the fastest rate in the future. The three broad categories of business jets are Small,…
RAMPF Korea – Producing in Asia for Asia
Joint Venture for the Asian markets – The international RAMPF Group has realigned the cooperation with its long-standing partner Orient Dosiertechnik from Korea with the founding of RAMPF Korea Co., Ltd. The new company based in Hwaseong City is developing and producing mixing and dispensing systems specifically for the Asian markets.
Within the framework of the new joint venture based in Hwaseong City, mixing and dispensing systems are being developed and…
LIXIL Asia Presents Asia Pacific Property Awards
Through its power brands GROHE and American Standard, LIXIL Asia signs a three-year deal to become the Headline Sponsor of the Asia Pacific Property Awards from 2019 until 2022.
23rd January 2019: The International Property Awards, first established in 1993, are open to residential and commercial property professionals from around the globe. They celebrate the highest levels of achievement by companies operating within the architecture, interior design, real estate and property…
PEOPLEWAVE WINS ASIA TECH PODCAST PITCHDECK ASIA 2019 AWARDS
15 January 2019, Singapore – Peoplewave, Asia’s leading data-driven HR technology company, won the Asia Tech Podcast (ATP) Pitchdeck Asia 2019 Awards, being awarded “Startup Most Likely to Succeed in 2019".
The 2019 Pitchdeck Asia Awards is an opportunity for the Asian Startup Ecosystem to shine a spotlight on some of its best startups. The awards were decided by a public vote. More than 7,200 votes were cast by registered LinkedIn…
Undersea Defence Technology Asia, UDT Asia 2011
Latest Military Diving Technologies featured in UDT Asia
Equipping Asia’s navies with the latest diving technology for asymmetric warfare and
operations
SINGAPORE, 17 October 2011 - Naval diving and underwater special operations is a field that is
seeing increased attention and investment amongst navies in Asia. Units such as the Indonesian Navy‟s KOPASKA, the Republic of Singapore Navy‟s Naval Diving Unit (NDU), the Royal Malaysian Navy‟s PASKAL are increasingly utilising specialised equipment for conducting…
Asia Diligence – Specialist Investigative Due Diligence for Asia & Beyond
Asia Diligence today announced the opening of its European Customer Services office in the United Kingdom. The office is to be managed by Steve Fowler and will focus on providing services to Asia Diligence’s European customers. Asia Diligence is also planning to open a US office in the near future, which will provide customer service to its US and North American clients.
Asked to comment on the move, Luke Palmer, the…
