North America 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, Mexico) Industry Trends and Forecast to 2027.
Market Analysis and Insights: North America 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 4.9% in the forecast period of 2019 to 2027 and expected to reach USD 19,820.16 million by 2027. Increasing accuracy and time saving is driving the growth for market.
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 are helping to grow market at higher value.
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 power tools 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, others. In 2020, 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 power tools market is segmented into electric, liquid fuel tool, hydraulic, pneumatic, powder-actuated tools. In 2020, electric holds largest market share 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 power tools market is segmented into concrete and construction, woodworking, metalworking, welding, others. In 2020, concrete and construction holds 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 power tools market is segmented into concrete, wood/metal, brick/block, glass, others. In 2020, concrete dominates material segment as it grows coherently with application segment with application segment.
- On the basis of end user, the power tools market is segmented into industrial/professional, residential. In 2020, industrial/professional dominates 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 power tools market is segmented into indirect sales, direct sales. In 2020, sales channel segment is 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 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 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 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 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, 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.
- 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.
Customization Available: North America 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.