Global Power Tools Market, By Type (Sawing and Cutting Tools, Drilling and Fastening Tools, Demolition Tools, Routing Tools, Portable Nibblers, Air-Powered Tools, Material Removal Tools, Electric Cords and Plugs, 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), Country (U.S., Canada and Mexico, Germany, U.K., France, Switzerland, Italy, Spain, Netherlands, Russia, Belgium, Turkey, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, South Africa, UAE, Saudi Arabia, Israel, Egypt and Rest of Middle East & Africa) Industry Trends and Forecast to 2027
Market Analysis and Insights: Global Power Tools Market
Power tools market is expected to gain market growth in the forecast period of 2020 to 2027. Data Bridge Market Research analyses that the market is growing with a CAGR of 4.7% in the forecast period of 2020 to 2027 and is expected to reach USD 55,592.66 million by 2027. Increasing growth of infrastructure projects globally is the factor that drives the market growth.
Growing industrial infrastructure and remodelling of concrete structures in stipulated time requires advanced tools which are fulfilled by power tools. Power tools reduces manual work and increases efficiency with better accuracy; which is helping power tools market at healthy CAGR. The high maintenance of these power tools is acting as major restraint for power tools market.
The rapid increase in wind turbines and the growth in wind industry will require more power tools for the construction and maintenance, this will act as major opportunity of growth for the power tools market. The power tool can severely cause accidents and health issues, in addition to the heavy body of the power tools which tend to make it difficult to operate with full efficiency, these factors act as major challenge for the power tools market.
This power tools market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the market scenario contact us for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
Global Power tools Market Scope and Market Size
Power tools market is segmented on the basis of type, mode of operation, application, material, end user, and sales channel. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of type, the market is segmented into sawing and cutting tools, drilling and fastening tools, demolition tools, routing tools, portable nibblers, air-powered tools, material removal tools, electric cords and plugs, accessories, and others. In 2020, saw and cutting tools segment dominates the type segment and expected to grow at higher rate as cutting applications are more in metalwork and woodwork which are widely used worldwide.
- On the basis of mode of operation, the market is segmented into electric, liquid fuel tool, hydraulic, pneumatic, and powder-actuated tools. In 2020, electric segment holds the largest market share in mode of operation segment considering most of the tools purchased are electric based due to its more affordability in terms of operating cost and ease of use.
- On the basis of application, the market is segmented into concrete and construction, woodworking, metalworking, welding, and others. In 2020, concrete and construction segment dominates the application segment and expected to grow at higher rate as infrastructure is growing around the world and power tools are required for faster operations.
- On the basis of material, the market is segmented into concrete, wood/metal, brick/block, glass, and others. In 2020, concrete segment dominates material segment as it grows collaterally with application segment.
- On the basis of end user, the market is segmented into industrial/professional, and residential. In 2020, industrial/professional segment holds the largest market share in end user segment as industrial fields require large scale operations which need to be completed in minimum time where power tools have great assistance.
- On the basis of sales channel, the market is segmented into indirect sales, and direct sales. In 2020, sales channel segment is dominated by indirect sales as these tools are mostly purchased from distributors or vendors, however with growing e-commerce sector and direct online sales by company’s direct sales and hence are growing at higher rate.
Power Tools Market Country Level Analysis
Power tools market is analysed and market size information is provided by country, type, mode of operation, application, material, end user, and sales channel as referenced above.
The countries covered in power tools market report are the U.S., Canada and Mexico, Germany, U.K., France, Switzerland, Italy, Spain, Netherlands, Russia, Belgium, Turkey, rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, rest of Asia-Pacific, Brazil, Argentina, rest of South America, South Africa, UAE, Saudi Arabia, Israel, Egypt and rest of Middle East & Africa.
North America dominates the power tools market as in the U.S., the major player namely Stanley Black & Decker, Inc. offer various types of power tools in the region and the U.S. and Canada are early adopters of these tools which allow dominance in power tools market for the North America region. Germany is leading the growth of the Europe market due to high production of electronic devices in the country with presence of company namely Robert Bosch GmbH. China is dominating the Asia-Pacific market due to the increasing number of concrete structures in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Rising Demand of Power Tools
Power tools market also provides you with detailed market analysis for every country growth in industry with sales, components sales, impact of technological development in power tools and changes in regulatory scenarios with their support for the power tools market. The data is available for historic period 2010 to 2018.
Competitive Landscape and Power Tools Market Share Analysis
Power tools market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the companies’ focus related to power tools market.
The major players covered in the report are Atlas Copco AB, Stanley Black & Decker, Inc., Snap-on Incorporated, Robert Bosch GmbH, Koki Holdings Co., Ltd., Emerson Electric Co., Festool GmbH, KYOCERA Corporation, Ingersoll Rand, Makita Corporation, Hilti AG, Husqvarna AB, Panasonic Corporation of North America (A subsidiary of Panasonic Corporation), Techtronic Industries Co. Ltd., Apex Tool Group, LLC, INTERSKOL, Ferm International B.V., 3M, Delta Power Equipment Corporation, C. & E. Fein GmbH among other domestic and global players. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Many product developments are also initiated by the companies worldwide which are also accelerating the growth of power tools market.
- In June 2020, Milwaukee, a power tool division of Techtronic Industries Co. Ltd. launched Cordless 1” D-Handle High Torque Impact Wrench, this product will be used in fastening applications of 2” bolts and features with 2,000 ft-lbs of nut-busting torque.
- In September 2019, CRAFTSMAN, a power tool division of Stanley Black & Decker, Inc. launched V20* Cordless System, this new cordless system comprises of power tools such as V20* Cordless Wet Tile Saw with 17-inch cut capacity.
Partnership, joint ventures and other strategies enhances the company market share with increased coverage and presence. It also provides the benefit for organisation to improve their offering for power tools through expanded range of size.
Customization Available: Global Power Tools Market
Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customised to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analysed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Factbook) or can assist you in creating presentations from the data sets available in the report.