Global Power Tools Market Share, Size, Growth, Trends, Analysis And Forecast 2022-2028

 

Power Tools Market Size

The global power tools market was valued at USD 32.3 billion in 2019 and is predicted to increase at a CAGR of 4.2 percent between 2022 and 2028. Power tools are tools that, in addition to manual work, are triggered by a power source. They are utilised in a variety of applications, including production and assembly lines, maintenance and repair, packing, and do-it-yourself projects. Power tool demand is being driven by several causes, including ease and efficiency of operation, reduced time and labour requirements, and easy mobility. The study offers a comprehensive assessment of the industry competition, limitations, sales estimates, avenues, current & emerging trends, and industry-validated market data.

Massive DIY technique trends are gaining popularity over the world, which has led in the growing popularity of power tools in recent times. Furthermore, power tools have a wide range of uses in the automotive and construction industries. Furthermore, the capacity of power tools to save time has raised their demand for performing repetitive activities such as sawing and screw driving. In addition, constantly developing industrial infrastructure facilities and the restoration of concrete structures within a set timeframe necessitate the use of modern equipment, helping the expansion of the power tools sector in the next years. Furthermore, power tools save physical labour and improve the operational efficiency of production units, which will benefit the firm significantly.

Power tool use in the automotive and construction industries is expected to drive demand over the next seven years. Many fastening jobs are involved in car production and assembly lines. Power tools help to reduce the time spent on these unnecessary operations while also increasing efficiency. As a result, power tools are increasingly being used by car manufacturers as well as automotive repair and maintenance service providers.

Power tools are becoming more popular in residential applications due to their ease of use and mobility. The growing popularity of Do-It-Yourself (DIY) activities has raised demand from home users. Companies are offering goods with additional safety features to meet the needs of customers who are not trained professionals.

Power tools are becoming more popular in residential applications due to their ease of use and mobility. The growing popularity of Do-It-Yourself (DIY) activities has raised demand from home users. Companies are offering goods with additional safety features to meet the needs of customers who are not trained professionals.

The rapid rise of the European market over the predicted timeline can be attributable to an increase in DIY activities in the residential and commercial sectors. Apparently, the increasing use of cordless electric power systems in nations such as Germany, France, Russia, Italy, and the United Kingdom will contribute significantly to regional market proceeds in the coming years. The region’s rapid urbanisation and booming online retailing activities will pave the road for the industry to expand significantly in the next years.

Atlas Copco, Hilti, hGears, Robert Bosch, Ingersoll-Rand, Stanley Black & Decker, Techtronic Industries, Makita, Apex Tool Group, and C. & E. are some of the key players contributing significantly to the growth of the Power Tools Market and are highlighted in our report.

This report segments the global power tools market into:

Global Power Tools Market: Mode Analysis

Electric
Corded
Cordless
Pneumatic
Others

Global Power Tools Market: Tool Type Analysis

Drilling and Fastening
Sawing
Demolition
Material Removal

Global Power Tools Market: Application Analysis

Construction
Automotive
Aerospace
DIY
Others
By Region

North America
The U.S.
Canada
Europe
France
The UK
Spain
Germany
Italy
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
Southeast Asia
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa
GCC
South Africa
Rest of Middle East & Africa

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Zion Market Research is an obligated company. We create futuristic, cutting edge, informative reports ranging from industry reports, company reports to country reports. We provide our clients not only with market statistics unveiled by avowed private publishers and public organizations but also with vogue and newest industry reports along with pre-eminent and niche company profiles. Our database of market research reports comprises a wide variety of reports from cardinal industries. Our database is been updated constantly in order to fulfill our clients with prompt and direct online access to our database. Keeping in mind the client’s needs, we have included expert insights on global industries, products, and market trends in this database.

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