Power and Hand Tools Market: By Type, Application, Size, Growth, Analysis & Forecast 2021

Power tools are equipment usually designed for the variety of operations such as sanding, heating, chiseling, polishing, and drilling. Power tools provide some extra power for the execution of the certain task. As compared to hand tool operation, it initializes with special mechanism rather than manual work. An electric motor is a very common example of the power tool used in a wide range of end-user applications. Earlier, the construction and manufacturing industries used power tools for reducing their workload. Jackhammer, drill machine, crusher, disc sander, circular saw, nail gun, heat gun, angle grinder wood router, and wall chaser are some examples of power tools. Few examples of hand tools secateurs, hammers, spanners, pliers, garden forks, screwdrivers, rakes, chisels, hook cutter, and others.

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Rising demand for power and hand tools in the market is anticipated to boost the market growth in the future. The increasing popularity of the power and hand tools among end-user is also anticipated to foster the market growth in future. The market for power and hand tools is growing owing to rapidly increase urbanization. Increasing spending income of consumers will positively impact the power and hand tools market in future. Rising Do-It-Yourself (DIY) attitude among people is another factor contributing to the growth of the market. However, immense competition among the vendors may restrain the market growth globally.

The global power and hand tools market are segmented on the basis of technology as an engine driver, hydraulic & powder-actuated, pneumatic, and electric. Of which, the electric power tools segment is dominating segment the market. The global market is categorized on the basis of applications as electronics, construction, aerospace, automobiles, and others. Of which, the construction segment is the leading segment in the market.

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North America is the leading the global power and hand tools market mainly owing to its increasing professional market. Asia Pacific is expected to gain considerable growth in the market due to increasing construction and developmental activities. Furthermore, China is a growing market for power and hand tools. In addition, Western Europe is anticipated to grow at the fastest rate in the near future. Upward industrial network in the European countries is anticipated to contribute to the global market growth.

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Some of the major players in the global power and hand tools market are Bosch GmbH, Apex Tool Group LLC, Allied Trade Group Stores, Ancor, Stanley Black & Decker, Alltrade Tools LLC, AIMCO Corporation, Black & Decker, AMES Companies, Atlas Copco AB, and Actuant Corporation. Others major players influencing the global market are DeWALT Industrial Tools, Del City Wire, Chicago Pneumatic Tool, Chevron Holdings Limited, DEPRAG-Schulz GmbH and Company, Danaher Corporation, Daniels Manufacturing Corporation, E&R Industrial Sales, and Channellock Incorporated.

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