Power Tools Market by 2030 to Have Strong Growth | Top Players

Market Size – USD 25.79 Billion in 2021, Market Growth – at a CAGR of 4.5%, Market Trends – Rapid adoption of battery-powered and cordless power tools

The global power tools market size was USD 25.79 Billion in 2021 and is expected to register a revenue CAGR of 4.5% during the forecast period, according to latest analysis by Emergen Research. Rising construction and manufacturing industries especially in emerging countries, and rising usage of cordless power tools are some of the key factors driving revenue growth of the market.

The comprehensive and significant market research study on Power Tools offers business strategies, qualitative and quantitative analyses, and emerging trends. The report provides in-depth examination and analysis of the key elements of the global Power Tools Market. By conducting extensive primary and secondary research and analysing the drivers, constraints, challenges, trends, and opportunities of the Power Tools Market, the research analysts created this report.

Growing utilization of various types of cordless power tools, such as hammer drills, sawing blades, impacting wrenches, staplers, and nailers, is contributing to rapid growth of the market. Rising need for more adaptable, flexible, and compact tools is increasingly driving demand for cordless power tools. Traditional Nickel Cadmium (Ni-Cd) and Nickel-metal Hydride (Ni-MH) battery packs are replaced with lithium batteries in power tools. In addition, rapid advancements in battery technology has led to a surge in utilization of high density battery packs in cordless power tools, thereby enabling better operational time after every recharge. On 13 April 2022, Makita U.S.A., Inc., which is one of the leading manufacturer of high quality professional tools and accessories, expanded its cordless woodworking solutions with 18V LXT 1/3 Sheet Finishing Sanders (model XOB03). Sander is designed to provide power and performance of a corded version but without cord and powered by an efficient brushless motor, enabling a convenient wood finishing solution for user.

To receive a sample copy of this report, visit @ https://www.emergenresearch.com/request-sample/1096

The study outlines the rapidly evolving and growing market segments along with valuable insights into each element of the industry. The industry has witnessed the entry of several new players, and the report aims to deliver insightful information about their transition and growth in the market. Mergers, acquisitions, partnerships, agreements, product launches, and joint ventures are all outlined in the report.

The leading market contenders listed in the report are:

Apex Tool Group, LLC., Emerson Electric Co., Ingersoll Rand, Atlas Copco, Robert Bosch GmbH, Stanley Black Decker, Inc., Techtronic Industries Co. Ltd., Hilti Group, Makita Corporation, and Koki Holdings Co., Ltd

Target Audience of the Global Power Tools Market Report:

  • Key Market Players
  • Investors
  • Venture capitalists
  • Small- and medium-sized and large enterprises
  • Third-party knowledge providers
  • Value-Added Resellers (VARs)
  • Global market producers, distributors, traders, and suppliers
  • Research organizations, consulting companies, and various alliances interested in this sector
  • Government bodies, independent regulatory authorities, and policymakers

Get a discount on the Global Power Tools Market report @ https://www.emergenresearch.com/request-discount/1096

Major Geographies Analyzed in the Report:

  • North America (U.S., Canada)
  • Europe (U.K., Italy, Germany, France, Rest of EU)
  • Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
  • Latin America (Chile, Brazil, Argentina, Rest of Latin America)
  • Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Market Segmentations of the Power Tools Market

This market is segmented based on Types, Applications, and Regions. The growth of each segment provides accurate forecasts related to production and sales by Types and Applications, in terms of volume and value for the period between 2022 and 2030. This analysis can help readers looking to expand their business by targeting emerging and niche markets. Market share data is given on both global and regional levels. Regions covered in the report are North America, Europe, Asia Pacific, Latin America, and Middle East Africa. Research analysts assess the market positions of the leading competitors and provide competitive analysis for each company. For this study, this report segments the global Power Tools market on the basis of product, application, and region:

Segments Covered in this report are:

  • Mode of Operation Outlook (Revenue, USD Billion; 2019-2030)
    • Electric
      1. Cordless
      2. Corded
    • Pneumatic
    • Others
  • Product Outlook (Revenue, USD Billion; 2019-2030)
    • Wrenches
    • Grinders
    • Drills
    • Saws
    • Others
  • Application Outlook (Revenue, USD Billion; 2019-2030)
    • Industrial
    • Residential

Browse Full Report Description + Research Methodology + Table of Content + Infographics @ https://www.emergenresearch.com/industry-report/power-tools-market

Some Key Highlights From the Report

  • The electric segment accounted for a significant revenue share in 2021 owing to ease of flexibility and effectiveness of operation of electric tools. Introduction of powerful batteries has led to an increasing demand for electric tools. Electric power tools are utilized in sectors such as automotive, construction, aerospace, and energy owing to various benefits such as better performance, speed, efficiency accuracy, and convenience. Rapid urbanization and industrialization are some of the factors increasing demand for electric power tools.
  • The drills segment accounted for a significant revenue share in 2021. Electric drilling and fastening equipment is used by professionals and Do-It-Yourselfers (DIY). Drills are used in both residential and industrial applications since these are easy to operate and cost-effective than other power equipment. Surging demand for drills as primary maintenance and repair equipment is also another factor contributing to growth of the market.
  • The industrial segment accounted for largest revenue share in 2021. Increasing technical innovation and implementation of advanced technology by these industries are expected to drive revenue growth of the segment. Rapid shift towards usage of power tools as well as various innovation, such as brushless motor technology, which provides less friction, longer motor-life, less voltage drops, and better performance are some of the major factors increasing demand for power tools in manufacturing and construction plants.
  • The North America market is expected to register a significant growth rate over the forecast period. Growing industrial and infrastructural development in addition to lack of cost-effective labor leading to rapid adoption of DIY activities are some of the key factors significantly driving revenue growth of market in this region. Presence of primary companies with increasing development and innovation activities for improvement of existing tools is another major factor contributing to growth of the market.

Additional information offered by the report:

  • Along with a complete overview of the global Power Tools market, the report provides detailed scrutiny of the diverse market trends observed on both regional and global levels.
  • The report elaborates on the global Power Tools market size and share governed by the major geographies.
  • It performs a precise market growth forecast analysis, cost analysis, and a study of the micro- and macro-economic indicators.
  • It further presents a detailed description of the company profiles of the key market contenders.

Request Customization as per your specific requirement@ https://www.emergenresearch.com/request-for-customization/1096

Thank you for reading our report. Customization of the report is available according to the requirements of our clients. Kindly get in touch with us to know more about the customization options, and our team will ensure the report is tailored according to your needs. 

Latest Published Reports by Emergen Research:

interventional cardiology market             

https://www.emergenresearch.com/industry-report/interventional-cardiology-market

small modular reactor market   

https://www.emergenresearch.com/industry-report/small-modular-reactor-market

cell-free dna testing market       

https://www.emergenresearch.com/industry-report/cell-free-dna-market

smart glass market         

https://www.emergenresearch.com/industry-report/smart-glass-market

biometrics market          

https://www.emergenresearch.com/industry-report/biometrics-market

diabetic care market      

https://www.emergenresearch.com/industry-report/diabetic-care-market

human centric lighting market   

https://www.emergenresearch.com/industry-report/human-centric-lighting-market

needle coke market       

https://www.emergenresearch.com/industry-report/needle-coke-market

automated breast ultrasound market     

https://www.emergenresearch.com/industry-report/automated-breast-ultrasound-market

direct-to-consumer genetic testing market          

https://www.emergenresearch.com/industry-report/direct-to-consumer-genetic-testing-market

About Us:

Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

Contact Us:

Eric Lee

Corporate Sales Specialist

Emergen Research | Web: www.emergenresearch.com

Direct Line: +1 (604) 757-9756

E-mail: sales@emergenresearch.com

Visit for More Insights: https://www.emergenresearch.com/insights

Explore Our Custom Intelligence services | Growth Consulting Services

Latest Report: Wireless Microphone MarketPhotoelectric Sensor Market

Trending Title: Instrument Cluster Marketultraviolet led market


Ravi Thakre

27 Blog posts

Comments