Global Power Tools Market
The Global Power Tools Market was valued at USD 25.98 billion in 2016 and is projected to reach USD 39.55 billion by 2025, growing at a CAGR of 4.78% from 2017 to 2025.
A power tool is a tool that is actuated by an additional power source and mechanism other than the manual labor used with hand tools and most common power tool uses an electric motors. The tools are used for construction and several DIY jobs such as production, assembly, packaging, and maintenance. Power tools provide several advantages that includes â€“ they are capable of offering high levels of torque, provide precision, power and smoothness to the process.
1. Market Drivers
1.1 Increasing focus on manufacturing smart power tools with wireless connectivity
1.2 Rising opportunities for assembly power tool providers
1.3 Growing adoption of high-density lithium-ion batteries for cordless power tools
1.4 Rising sales of commercial vehicles
1.5 Rapidly growing construction industry
2. Market Restraints
2.1 Manufacturing lightweight and ergonomic power tools
2.2 Increasing maintenance cost
2.3 Stringent trade policies and safety regulations
The Global Power Tools Market is segmented on the end user, mode of operation, tool type, and region.
1. End User:
2. By Mode of Operation:
3. By Tool Type:
3.1 Material Removal Tools
3.2 Drilling and Fastening Tools
3.3 Demolition Tools
3.4 Routing Tools
3.5 Sawing and Cutting Tools
4. By Region:
4.1 North America (U.S., Canada, Mexico)
4.2 Europe (Germany, UK, France, Rest of Europe)
4.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
4.4 Latin America (Brazil, Argentina, Rest of Latin America)
4.5 Middle East & Africa
The major players in the market are as follows:
1. Robert Bosch
2. Emerson Electric
3. Stanley Black & Decker
5. Atlas Copco
6. Aimco Global
8. TTS Tooltechnic Systems (Festool)
9. Techtronic Industries (TTI)
12. Chevron Group
13. Apex Tool Group
15. Hitachi Koki
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
RESEARCH METHODOLOGY OF VERIFIED MARKET INTELLIGENCE:
Research study on the Global Power Tools Market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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