In the power tools market, innovations have led to more efficient and user-friendly tools. Cordless power tools, utilizing lithium-ion batteries for extended runtime, are transforming the industry. Additionally, smart tools with integrated technology for remote monitoring and precision control are gaining prominence. The dominating segment is cordless power tools, as they offer increased mobility and convenience. These advancements enhance productivity in both professional construction and DIY applications, driving the market's growth.
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Data Bridge Market Research analyses that the North America Power Tools Market is growing with a CAGR of 6.0% in the forecast period of 2022 to 2029. The market was valued at USD 15,109.32 million in 2021 and is expected to reach USD 24,081.97 million by 2029. Ongoing construction and infrastructure projects worldwide drive the need for power tools in building and development. These tools are essential for tasks such as drilling, cutting, and fastening, enabling the efficient progress of construction projects and infrastructure expansion.
Key Findings of the Study
Increasing urbanization is expected to drive the market's growth rate
Urban growth necessitates power tools for various construction, maintenance, and renovation activities. Construction of new buildings, roads, and infrastructure relies on power tools for tasks such as drilling, concrete cutting, and structural assembly. In established urban areas, maintenance activities such as repairing utilities and infrastructure also heavily depend on power tools. Additionally, renovation projects, both in residential and commercial spaces, require power tools for tasks such as carpentry, painting, and flooring installation, supporting urban development.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014-2019)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Sawing and Cutting Tools, Drilling and Fastening Tools, Demolition Tools, Nailers, Routing Tools, Portable Nibblers, Air-Powered Tools, Material Removal Tools, Electric Cords and Plugs, Chisels Accessories, Others), Mode of Operation (Electric, Liquid Fuel Tool, Hydraulic, Pneumatic, Powder-Actuated Tools), Application (Concrete and Construction, Woodworking, Metalworking, Welding, Others), Material (Concrete, Wood/Metal, Brick/Block, Glass, Others), End User (Industrial/Professional, Residential), Sales Channel (Indirect Sales, Direct Sales)
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Countries Covered
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U.S., Canada and Mexico in North America
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Market Players Covered
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Atlas Copco AB (Sweden), Stanley Black & Decker, Inc. (U.S.), Snap-on Incorporated (U.S.), Robert Bosch GmbH (Germany), Koki Holdings Co., Ltd. (Japan), Emerson Electric Co. (U.S.), Festool GmbH (Germany), KYOCERA Corporation (Japan), Ingersoll Rand (U.S.), Makita Corporation (Japan), Hilti AG (Liechtenstein), Husqvarna AB (Sweden), Panasonic Corporation of North America (U.S.), Techtronic Industries Co. Ltd (Hong Kong), Apex Tool Group, LLC. (U.S.), 3M (U.S.), Delta Power Equipment Corporation (U.S.), C. & E. Fein GmbH (Germany)
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
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Segment Analysis:
The North America power tools market is segmented on the basis of type, mode of operation, application, material, end user, and sales channel.
- On the basis of type, the market is segmented into sawing and cutting tools, drilling and fastening tools, demolition tools, nailers, routing tools, portable nibblers, air-powered tools, material removal tools, electric cords and plugs, chisels, accessories, others. In 2022, the sawing and cutting segment dominates due to the prevalence of cutting operations in metalwork and woodwork globally.
In 2022, the sawing and cutting segment of the type segment dominates the North America power tools market during the forecast period of 2022-2029
In 2022, the sawing and cutting segment dominates due to the prevalence of cutting operations in metalwork and woodwork globally. The demand for cutting tools and saws is high in various industries, contributing to their significant market share, and their growth rate is expected to remain strong, driven by ongoing manufacturing and construction activities.
- On the basis of mode of operation, the market is segmented into electric, liquid fuel tool, hydraulic, pneumatic, and powder-actuated tools. In 2022, electric tools are poised to capture the largest market share in the mode of operation segment. The popularity of electric tools is due to their affordability in terms of operating costs and ease of operation.
In 2022, the electric tools of the mode of operation segment is expected to dominate the North America power tools market during the forecast period of 2022-2029
In 2022, electric tools are poised to capture the largest market share in the mode of operation segment. The popularity of electric tools is due to their affordability in terms of operating costs and ease of operation, making them the preferred choice for both professional and DIY users, consequently dominating the market.
- On the basis of application, the market is segmented into concrete and construction, woodworking, metalworking, welding, and others. In 2022, the concrete and construction sector is set to dominate the application segment, driven by global infrastructure growth. Power tools facilitate faster and more efficient construction processes, leading to higher demand and growth.
- On the basis of material, the market is segmented into concrete, wood/metal, brick/block, glass, and others. In 2022, concrete is expected to dominate the material segment, aligning with the growing demand in the construction and infrastructure sectors, where it serves as a primary material, leading to coherent growth.
- On the basis of end user, the market is segmented into industrial/professional, and residential. In 2022, the industrial/professional segment is set to dominate the end-user category, driven by large-scale operations that require efficient completion. Power tools play a vital role in expediting these tasks, resulting in substantial growth.
- On the basis of sales channel, the market is segmented into indirect sales and direct sales.
In 2022, indirect sales channels will dominate, primarily involving distributors and vendors. Nevertheless, direct online sales by companies are growing rapidly, thanks to the expanding e-commerce sector.
Major Players
Data Bridge Market Research recognizes the following companies as the North America power tools market players in North America power tools market are Atlas Copco AB (Sweden), Stanley Black & Decker, Inc. (U.S.), Snap-on Incorporated (U.S.), Robert Bosch GmbH (Germany), Koki Holdings Co., Ltd. (Japan), Emerson Electric Co. (U.S.).
Market Developments
- In July 2021, Makita UK expanded its portfolio of outdoor power tools by introducing the advanced "XGT 40V/Max" machines. This extension included a range of high-performance cordless tools designed to meet the demands of outdoor tasks. The XGT 40V/Max series offers professionals and consumers efficient and versatile solutions for landscaping, gardening, and other outdoor applications, further enhancing Makita's presence in the outdoor power tools market.
- In September 2019, CRAFTSMAN, a division of Stanley Black & Decker, Inc., introduced the V20* Cordless System. This innovative system includes a range of power tools, among which is the V20* Cordless Wet Tile Saw with a 17-inch cut capacity. This addition to the V20* Cordless System provided users with a versatile and cordless solution for cutting and shaping tiles, enhancing the CRAFTSMAN product lineup and offering more efficient tile-related tasks.
- In February 2019, Cleco, a division of Apex Tool Group, LLC, unveiled its CellCore assembly tool line. This cordless tool range prioritized durability and reliability, featuring a larger user interface for enhanced user experience. The innovative design aimed to reduce operator fatigue, resulting in improved efficiency and productivity in assembly tasks. Cleco's CellCore assembly tools provided a valuable solution for industries requiring precision and performance in fastening and assembly processes.
Regional Analysis
Geographically, the countries covered in the North America power tools market report are U.S., Canada and Mexico in North America.
As per Data Bridge Market Research analysis:
U.S. is the dominant region in the North America power tools market during the forecast period 2022-2029
The U.S. holds a dominant position in the North America power tools market, largely due to its headquarters for global industry leaders such as Stanley Black & Decker, Inc. Additionally, companies such as Koki Holdings Co., Ltd., and Panasonic Corporation contribute significantly to the region's market growth by generating substantial revenue. This concentration of key players and their innovations in the U.S. underscores its leadership in the North American power tools industry.
Canada is expected to dominate the North America power tools market in the forecast period 2022-2029
Canada is poised to play a leading role in the North America power tools market. This is primarily driven by a robust construction sector, growing infrastructure development, and an increasing demand for power tools in various industries. The country's strategic location and economic stability make it a prime market for power tool manufacturers, attracting investments and fostering a favorable environment for industry growth in the North American region.
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