Power Tools Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

MARKET INTRODUCTION

Power tools are a class of tools and mechanical devices that operate when a secondary power source and mechanism are activated rather than being operated manually. Electric motors and compressed or internal combustion engines are examples of this. From hand-held machine drills to hydraulic presses and pneumatic equipment, power tools cover a wide range of applications. Power tools can be used for a variety of tasks, including home chores, construction, and gardening. The key drivers of the power tool markets include increasing demand from the industrial sector, increasing demand from the professional segment, and increasing use of power tools for DIY and domestic activities. Power tools also have applications across various verticals.

MARKET SCOPE

The "Global Power Tools Market Analysis to 2031" is a specialized and in-depth study of the Power tools Market with a special focus on the global market trend analysis. The report aims to provide an overview of power tools market with detailed market segmentation by mode, type and end-user. The global power tools market expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading power tools market player and offers key trends and opportunities in the power tools market.

MARKET SEGMENTATION

•   Based on mode the market is segmented as, electric, pneumatic and others.
•   Based on type the market is segmented as, drilling and fastening, sawing, demolition and material removal.
•   Based on end-user the market is segmented as, residential, commercial and industrial.

MARKET DYNAMICS
Drivers:

•   The key driving factors for power tools market are, rise in disposable incomes, technological advancements in tooling, increase in popularity of DIY techniques.
•   Growth in popularity of cordless and wireless power tools is expected to fuel market growth during the forecast period.
•   Growth in construction industry across the globe along with growing application of power tools across verticals is also expected to spur market growth during the forecast period.

Restraints:

•   High cost of power tools, and their maintenance cost is expected to restrain market growth during the forecast period.

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global power tools market based on various segments. It also provides market size and forecast estimates from year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The power tools market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.

The report analyzes factors affecting power tools Market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South America after evaluating political, economic, social and technological factors effecting the power tools market in these regions.

IMPACT OF COVID-19 ON POWER TOOLS MARKET

COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.

Power Tools Market Report Analysis

Power Tools Market

• 
  CAGR (2023 - 2031)

  XX%
• Market Size 2023
  US$ XX Million
• Market Size 2031
  US$ XX Million

Report Coverage

• Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope

• Key future trends
• Detailed PEST/Porter’s Five Forces and SWOT analysis

• Industry landscape and competition analysis & recent developments
• Detailed company profiles

• Global and regional market analysis covering key market trends, major players, regulations, and recent market developments

Key Players

• AIMCO
• Atlas Copco
• Hilti Corporation
• KYOCERA Industrial Tools Corporation
• Makita U.S.A., Inc
• Panasonic Life Solutions India Pvt. Ltd
• Robert Bosch Tool Corporation
• Snap
• on Incorporated

Regional Overview

• North America
• Europe
• Asia-Pacific
• South and Central America
• Middle East and Africa

Market Segmentation

By Mode

• Electric
• Pneumatic

By Type

• Drilling and Fastening
• Sawing
• Demolition
• Material Removal

By End-user

• Residential
• Commercial
• Industrial

MARKET PLAYERS

The reports cover key developments in the power tools market organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market players from power tools market are anticipated to lucrative growth opportunities in the future with the rising demand for power tools market. Below mentioned is the list of few companies engaged in the power tools market.

The report also includes the profiles of key power tools market companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years.

•   AIMCO
•   Atlas Copco
•   Hilti Corporation
•   KYOCERA Industrial Tools Corporation
•   Makita U.S.A., Inc
•   Panasonic Life Solutions India Pvt. Ltd
•   Robert Bosch Tool Corporation
•   Snap - on Incorporated
•   Stanley Black and Decker, Inc.
•   Techtronic Industries Co. Ltd

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Power Tools Market Report Scope