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) – Industry Trends and Forecast to 2029.
Global Power Tools Market Analysis and Size
Power tools are easily available in the market via both online and offline modes of distribution. These are easy to operate, are available in a wide array of shapes and offer greater precision in operations. Rising number of small and medium scale end users are increasingly understanding the importance of power tools. Honeywell International Inc. (US), 3M (US), Emerson Electric Co. (US), Festool GmbH (Germany), KYOCERA Corporation (Japan), Makita Corporation (Japan), Hilti AG (Liechtenstein) and Husqvarna AB (Sweden) are the some major players operating in this market.
- Data Bridge Market Research analyses that the power tools market value, which was USD 34.30 billion in 2021, is expected to reach the value of USD 51.45 billion by 2029, at a CAGR of 5.20% during the forecast period. “Electric" accounts for the largest mode of operating segment in the power tools market owing to the affordability offered by electrical tools in terms of operating cost and ease of use. The power tools market report also covers pricing analysis, patent analysis, and technological advancements in depth.
Global Power Tools Market Definition
From the name itself, it is clear that power tools are the semiconductor tools that are used for a range of industrial applications when actuated by an additional power source. Circular saws, jigsaws, drills, hammer-drills, sanders, grinders, routers and numerous others are the examples of power tools. However, if not operated with due considerations and carefulness, power tools can bring along numerous hazards.
Report Scope and Market Segmentation
2022 to 2029
2020 (Customizable to 2019 - 2014)
Revenue in USD Billion, Volumes in Units, Pricing in USD
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)
U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Market Players Covered
Stanley Black & Decker, Inc. (US), Robert Bosch GmbH (Germany), Techtronic Industries Co. Ltd. (Hong Kong), Makita Corporation (Japan), Hilti Corporation (Liechtenstein), Atlas Copco AB (Sweden), Ingersoll Rand (US), Snap-on Incorporated (US), Apex Tool Group (US), Koki Holding Co., Ltd. (Japan), Honeywell International Inc. (US), 3M (US), Emerson Electric Co. (US), Festool GmbH (Germany), KYOCERA Corporation (Japan), Makita Corporation (Japan), Hilti AG (Liechtenstein) and Husqvarna AB (Sweden)
Global Power Tools Market Dynamics
This section deals with understanding the market drivers, opportunities, restraints and challenges. All of this is discussed in detail as below:
- Growth in investment for research and development to carve way for innovations
The rising number of strategic market collaborations has led to the rise in funds to be allocated for the growth and development of advanced and automated technology/ machinery. Further, growth in the level of investment for research and development proficiencies would carve the way for innovations in manufacturing technology.
- Increased proliferation of electronics globally to induce greater demand and supply in emerging nations
Growing proliferation and penetration of electronic tools and equipment is one of the major factors fostering the growth of the market. In other words, increased demand and availability of electric nut wrenches, power fretsaws, power screwdrivers, electric hammers, and power compactors, is directly influencing the growth rate of the market. Also, growing acceptance and application by the aerospace industry will further carve the way for the market growth.
- Growth and expansion of end user verticals to present numerous opportunities for small scale businesses
Owing to the global economic rise, there is a huge scope of growth for the semiconductors and electronics industry. There is an increased focus of the major manufacturers on the application of advanced technologies which will widen the scope of growth.
- Buildings and construction industry to present many opportunities
Rising urbanization, modernization, and globalization drive market value growth. In other words, growing number of buildings and construction activities especially in the developing economies to develop the infrastructure will present very many opportunities for the growth of the market.
Growing industrial infrastructure and remodelling of concrete structures, increasing advancement in the technology to improve the functioning of semiconductor tools, and increased awareness regarding vehicle safety and technological advancements by the automotive industry are other market growth determinants. Furthermore, advancements in manufacturing technology extend profitable opportunities to the market players in the forecast period of 2022 to 2029. Additionally, rising adoption of battery-powered power tools globally, and surging demand for electric fastening tools in industrial environment will further expand the future growth of the market.
Restrictions/ challenges Global Power Tools Market
- Increased number of regulations to limit the scope of growth in the long run
Rising enforcement of stringent environmental regulations imposed on the industries will create hindrances for the growth of the market. Also, stringent regulations on product approvals will narrow down the scope of growth for the market. Further, suspension of business activity on account of the coronavirus pandemic will yet again create hindrances.
- Supply chain disruptions will pose a threat to the unprecedentedly growing market demand
With the rising number of restrictions around the globe due to pandemic, there has been a hit in the demand and supply of display materials. Also, fluctuations in the prices of raw materials will prove to be a demerit for the market. Therefore, this will challenge the market growth rate.
Also, dearth of awareness in underdeveloped regions and high costs associated with manufacturing activities will act as growth restraints for the market. Lack of strong infrastructural facilities in the backward economies, declining sales of commercial vehicles due to COVID-19 and accidents and health issues associated with power tools will also challenge the market growth rate.
This power tools market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the power tools market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Power Tools Market
The recent outbreak of coronavirus has proven to be a bane for the market. The pandemic has led to the suspension of business activity on account of the coronavirus pandemic and has resulted in disruptions in global supply chains, border restrictions, and travel restrictions by government bodies. The market growth rate saw a slowdown owing to the stringent measures taken up to curb the commercial activities. Suspension of buildings and construction activities and decline in the sales of automobiles further derailed the market growth rate. However, the market is expected to witness a boom post relaxations globally coupled with gradual recovery from the pandemic in some countries, including China, Germany, and France. However, the market value may not reach that of the pre-COVID-19 value until 2026.
- In October 2021, Stanley Black & Decker, Inc. has entered into a partnership with Eastman to advance sustainability in the power tools industry. BLACK+DECKER, a Stanley Black & Decker brand, would be releasing a new product line, namely reviva, which would be offering the brand's first sustainability-led power tools that utilize Eastman's Tritan Renew copolyester.
- In October 2021, DEWALT, a Stanley Black & Decker brand, announced the launch of DEWALT POWERSTACK 20V MAX Compact Battery, a next-generation technological breakthrough that marks a new era of performance for DEWALT cordless power tools.
- In December 2020, Hilti has announced the expansion of its its rotary and combination hammer tool portfolio with the next generation TE 70-ATC/AVR, the most powerful SDS-Max combination hammer in its class. The newly launched tool would help commercial contractors and tradespeople drill up to 40% faster in reinforced concrete and demolish more concrete.
- In September 2021, Robert Bosch Power Tools GmbH has announced the expansion of its comprehensive product line of woodworking and wood cutting solutions with the introduction of its 12V and 18V cordless sanders, the GEX12V-5 Brushless 5 In. The newly launched cordless sanders are designed for optimal balance and convenience.
- In August 2021, Robert Bosch Power Tools GmbH has announced the newest entries to its line of random orbit sanders including GEX33-5N, 5 In., GEX33-6N 6 In., and GEX34-6N 6 In. These new sanders are designed for professionals.
Global Power Tools Market Scope
The power tools market is segmented on the basis of type, mode of operation, application, material, end user, and sales channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
- Sawing and Cutting Tools
- Drilling and Fastening Tools
- Demolition Tools
- Routing Tools
- Portable Nibblers
- Air-Powered Tools
- Material Removal Tools
- Electric Cords and Plugs
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. Drilling and fastening tools segment is sub-segmented into drills, impact drivers, impact wrenches and screwdriver and nut runners. Sawing and cutting tools segment is sub-segmented into jigsaws, reciprocating saws, circular saws, band saws and shears and nibblers.
Mode of operation
- Liquid Fuel Tool
- Powder-Actuated Tools
On the basis of mode of operation, the market is segmented into electric, liquid fuel tool, hydraulic, pneumatic, and powder-actuated tools.
- Concrete and Construction
On the basis of application, the market is segmented into concrete and construction, woodworking, metalworking, welding, and others.
On the basis of material, the market is segmented into concrete, wood/metal, brick/block, glass, and others.
On the basis of end user, the market is segmented into industrial/professional, and residential. Industrial/professional segment is sub-segmented into construction, automotive, aerospace, energy, shipbuilding, mining, oil and gas, and electronics and other industries.
- Indirect Sales
- Direct Sales
On the basis of sales channel, the market is segmented into indirect sales, and direct sales.
Power Tools Market Regional Analysis/Insights
The power tools market is analysed and market size insights and trends are provided by country, type, mode of operation, application, material, end user, and sales channel as referenced above.
The countries covered in the power tools market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific region is set to register the highest growth rate for the forecast period owing to the continuous demand for cost-effective and highly efficient power tools by a wide range of industry verticals and increasing government initiatives toward enhancing industrial manufacturing facilities and infrastructural development in various countries in APAC.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Power Tools Market Share Analysis
The 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, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to power tools market.
Some of the major players operating in the power tools market are:
- Stanley Black & Decker, Inc. (US)
- Robert Bosch GmbH (Germany)
- Techtronic Industries Co. Ltd. (Hong Kong)
- Makita Corporation (Japan)
- Hilti Corporation (Liechtenstein)
- Atlas Copco AB (Sweden)
- Ingersoll Rand (US)
- Snap-on Incorporated (US)
- Apex Tool Group (US)
- Koki Holding Co., Ltd. (Japan)
- Honeywell International Inc. (US)
- 3M (US)
- Emerson Electric Co. (US)
- Festool GmbH (Germany)
- KYOCERA Corporation (Japan)
- Makita Corporation (Japan),
- Hilti AG (Liechtenstein)
- Husqvarna AB (Sweden)
Research Methodology : Global Power Tools Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The stage includes the obtainment of market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analyzed and estimated using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis.
To know more about the research methodology, drop in an inquiry to speak to our industry experts
Customization Available : Global Power Tools Market
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