North America Power Tools Market, By 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), Country (U.S., Canada, Mexico) Industry Trends and Forecast to 2029.
Market Analysis and Insights: North America Power Tools Market
Power tools market is expected to gain market growth in the forecast period of 2022 to 2029. Data Bridge Market Research analyses that the market is growing with a CAGR of 6.0% in the forecast period of 2022 to 2029 and expected to reach USD 24,081.97 million by 2029. Increasing accuracy and time saving is driving the growth for market.
Power tools are referred to those types of tools which require additional power sources to run their mechanism; they consist of motor to power their operation. These motors can be driven through electric power, compressed air, or through internal combustion using fuel. These power tools are used for various operations such as drilling, demolition, cutting and sawing, material removal, polishing and others. These operations require various types of tools such as drills, hammer, jigsaw, and sanders. Power tools are put into use for both industry and residential purposes to ease the work of the users. They provide better accuracy, ease of working and higher productivity. The work gets simpler and faster when working with power tools.
Hand tools require lot of manual work and consume lot of work, also resulting in non-uniformity; on the other hand, power tools are one-time investment and offer easier work, time saving and precision work quality. These advantages of power tools over conventional tools is helping to grow market at higher value. Increase in the growth of cordless power tools and integration of brushless motors in power tools acts as a driving factor for the market. However, the high maintenance of power tools hinders the market growth.
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.
North America Power Tools Market Scope and Market Size
North America 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, nailers, routing tools, portable nibblers, air-powered tools, material removal tools, electric cords and plugs, chisels, accessories, others. In 2022, saw and cutting dominate the type segment and expected to grow at greater rate since cutting operations are more in metalwork and woodwork which are widely used across the world.
- On the basis of mode of operation, the market is segmented into electric, liquid fuel tool, hydraulic, pneumatic, powder-actuated tools. In 2022, electric might hold largest market shares in mode of operation segment since majority of the tools bought are electric based its more affordable in terms of operating cost and ease of operation.
- On the basis of application, the market is segmented into concrete and construction, woodworking, metalworking, welding, others. In 2022, concrete and construction will hold largest market share in 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, others. In 2022, concrete might dominate material segment as it grows coherently with application segment with application segment.
- On the basis of end user, the market is segmented into industrial/professional, residential. In 2022, industrial/professional will dominate end user segment and expected to grow at higher rate as industrial fields have large scale operations which needs to be completed in minimum time where power tools are of great significance.
- On the basis of sales channel, the market is segmented into indirect sales, direct sales. In 2022, sales channel segment will be dominated by indirect sales the 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 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.
The countries covered in North America power tools market report are U.S., Canada and Mexico.
U.S. dominates the North America power tools market as country has global leader headquarters such as Stanley Black & Decker, Inc.; also companies such as Koki Holdings Co., Ltd., Panasonic Corporation are generating heavy revenue in the region.
The end user segment dominates the North America power tools market, with U.S. leading the market followed by Canada and Mexico. The end user segment is sub-segmented into industrial/professional and residential.
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.
Increasing Need of Easy Concrete Structure Operations
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 2012 to 2019.
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 North America 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., 3M, Delta Power Equipment Corporation, and C. & E. Fein GmbH among others. 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.
For instance,
- 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
- In February 2019, Cleco, a power tool division of Apex Tool Group, LLC launched CellCore assembly tool line this new cordless tool line offers durability and reliability with larger user interface. The new design also reduces the fatigue of the operator leading
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.
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