Power Tools Market – Trends, Outlook and Opportunity Analysis 2023

Market Highlights:

Power tools are various types of tools and mechanical devices that operate when they are initiated by an additional power source and mechanism and not the manual labor used with hand tools. This could generally be electric motors, compressed or internal combustion engines.

The growth of global power tools market can be majorly attributed to increasing demand from industrial sector and rising demand from professional segment. Also, increasing usage of power tools for DIY & household activities is also expected to boost the market growth. However, factors such as fluctuation in raw material prices is the major restraint that could hinder the market growth.

The global power tools market is expected to grow at the CAGR of around 5.17% during the period 2017 to 2023.

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Key Players:
Robert Bosch Tool Corporation (Germany), Stanley Black & Decker, Inc. (U.S.), Makita Corporation (U.S.),  Hilti Corporation (Liechtenstein), Husqvarna (Sweden), Techtronic Industries Co. Ltd (Hong Kong), Snap-on (U.S.), Hitachi Koki Co. Ltd. (Japan), Festool (Germany), and Otto Baier GmbH (Germany) are some of the leading players operating in this market.

Market Research Analysis:

The report has analyzed the global power tools market based on the three segments, namely type, application and regions. On the basis of type, the global Power Tools Market is segmented as engine driven power tools, electric power tools, pneumatic power tools, hydraulic power tools and others. Electric power tools segment accounted for the largest share of 30.81% in 2016. Electric power tools are intended mainly for carrying out small jobs and are used to mechanize manual operations in the performance of fitting, installation, assembly, or finishing work. They are also employed to machine places on articles that cannot be reached by tools on stationary machines.

Based on application, the global power tools market is bifurcated as household, industrial and professional. In which, Industrial segment dominates the global power tools market with largest share. The increase in demand for automation and rapid industrialization foster the use of power tools. The industrial usage of power tools leads to increased efficiency, accuracy, and perfection by reducing human errors and enhancing safety of the workforce.

Scope of the Report:

This study provides an overview of the global power tools market, tracking two market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for Asia-Pacific, North America, Europe and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global power tools market by its type, by application and regions.

By Type

  • Engine driven power tools
  • Electric power tools
  • Pneumatic power tools
  • Hydraulic power tools
  • Others

By Application

  • Household
  • Industrial
  • Professional

By Region

  • Asia Pacific
  • North America
  • Europe
  • Rest of World

Brief TOC:

1 Executive Summary

2 Introduction

2.1 Definition

2.2 Scope of the Study

2.3 Assumptions

2.4 Market Structure

3 Research Methodology

3.1 Research Process

3.2 Primary Research

3.3 Secondary Research

3.4 Market Size Estimation

3.5 Forecast Model

4 Market Dynamics

4.1 Drivers

4.1.1 Increasing demand from Industrial Sector

4.1.2 Increasing demand from Professional Segment

4.1.3 Increasing usage of power tools for DIY & household activities

4.2 Restraints

4.2.1 Fluctuation in Raw Material Prices

4.3 Opportunities

4.3.1 Broader Scope in Developing Nations

Continue…

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List Of Table:

Table 1 Market Synopsis
Table 2 Global Power Tools Market, By Type, 2015–2023 (Usd Million)
Table 3 Global Power Tools Market, By Application, 2015–2023 (Usd Million)
Table 4 Global Power Tools Market, By Region, 2015–2023 (Usd Million)
Table 5 North America: Power Tools Market, By Country, 2015–2023 (Usd Million)
Table 6 North America: Power Tools Market, By Type, 2015–2023 (Usd Million)
Table 7 North America: Power Tools Market, By Application, 2015–2023 (Usd Million)
Table 8 U.S.: Power Tools Market, By Type, 2015–2023 (Usd Million)
Table 9 U.S.: Power Tools Market, By Application, 2015–2023 (Usd Million)

Continue…

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