US Identified As The World’s Largest Market For Power Tools And China As the Largest Manufacturer

US is the world’s largest market for power tools driven by high degree of mechanization, better availability of range and awareness, followed by China.
China despite being the second largest market for power tools is the largest manufacturer of the same, exporting 80% of the output to other geographies.

Beige Market Intelligence has announced the publication of its latest report with title Global Power Tools Market – Strategic Assessment and Forecast 2017-2022.The exclusive market research report, which consists of 124 pages of in-depth information about the worldwide power tools market, has identified the major growth driving factors and emerging trends of the market.

The analysts at Beige Market Intelligence say, “US is the world’s largest market for power tools driven by high degree of mechanization, better availability of range and awareness, followed by China. China despite being the second largest market for power tools is the largest manufacturer of the same, exporting 80% of the output to other geographies.” The analysts have provided the detailed market size both in revenue and sales for each segment of global power tools market in the market research report. Furthermore, an in-depth analysis of global power tools market in the key geographies have been provided in the report.

View Report Details: http://www.beigemarketintelligence.com/reports/research-report-heavy-industry-market/power-tools-market/

Power Tools Market in US

The demand for power tools in US is driven by high awareness over the advantages over conventional tools, better product availability and extensive reach of innovative products. The same is also further reinforced by a well-connected and evolved electric grid, product development with emphasis on energy-efficiency and sustainability and well-connected retail footprint.

Factors Driving The Household Power Tools Market Demand in US

A pointwise description of the factors have been provided in the report. Few of them are given below:

Availability of a range of sophisticated power tools that pose significant advantage over hand tools.

Expensive cost of household services wherein individuals prefer to address basic fixes all by themselves. So prevalent is the DIY in the country that almost 6 in 10 households report possessing at least three power tools

High awareness among the consumer base over the functionality and range of power tools.

Factors Driving The Industrial Power Tools Market Demand in US

A pointwise description of the factors have been provided in the report. Few of them are given below:

Automotive industry is one of the largest consumer of power tools. Manufacturing 12.1 million vehicles in 2015, the country has consistently delivered an increasing automotive output since 2010 and is the world’s second largest automotive manufacturer just behind China.

The need for safety, security, and convenience has propelled individuals to increasingly seek sophisticated automation solutions well within home and beyond. This has posed a demand for appliances and interactive hardware all of which requires precision in their construction. This has laid a demand for the use of power tools in manufacture and fabrication of the same,

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Power Tools Market in China

China stands unique in the power tool market for the fact that 80% of the worldwide power tool output is sourced from the country, with vendors increasingly trying to leverage its manufacturing process and cheaper factors of production. Hand tool usage still stand prominent in the country on account of cheaper costs and easier availability as better alternatives to power tools for most of the household jobs. One key driver for the adoption of power tools in the country is the rapid scaling of electric grids and consistent availability of power for key manufacturing end uses.

For Detailed Market Size and Sales Forecast, Order A Report: http://www.beigemarketintelligence.com/reports/research-report-heavy-industry-market/power-tools-market/

Source: http://www.beigemarketintelligence.com/news/press-releases/us-identified-as-the-worlds-largest-market-for-power-tools-and-china-as-the-largest-manufacturer/

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This release was published on openPR.