Report Description
A recent market
intelligence report that is published by Data Insights Partner on the
global Power Tools Market makes an
offering of in-depth analysis of segments and sub-segments in the regional and
international Power Tools Market. The research also emphasizes on the impact of restraints,
drivers, and macro indicators on the regional and global Power
Tools Market over the short as
well as long period of time. A detailed presentation of forecast, trends, and
dollar values of global Power Tools Market is offered. In accordance with the report, the global
Power Tools Market is projected to
expand by healthy CAGR of 3.1% over the period of forecast.
Market Insight, Drivers, Restraints,
Opportunity & Trends of the Market:
Definition
Power
Tools are usually originated by additional power sources such as electric,
natural power supplier, steam or fuel engines, lithium or chargeable batteries
etc. These tools can be used in everywhere like in industries, construction
sites, energy generating sectors, households etc. The tools can be divided in
two main categories, portable and stationary power tools. Portables ones have
an advantage in mobility and are used for small works or DIYs whereas
stationary tools are best due to its speed and precision and are used for
largescale works.
Market Drivers
The
growing industrial and construction sectors are main driver behind the rapid
growth of Power Tools Market. The rising need of electrical or power originated
tools to reduce manual labor and time-waste in industrial and construction
sites, power and energy generating sectors, automotive manufacturing and
repairing sectors and DIY sectors such as gardening, cooking, packaging etc. is
driving the growth rate of Power Tools Market to rise up high.
Beside
this, the rapid urbanization, growing population and rising per capita income are
also some of the key players behind the rapid growth of the Power Tools Market.
Aside
from these, the rising foreign investments in the Power Tools sector are also
adding fuel to this increasing market growth.
The
regular introduction of different and brand-new types of Power Tools with
better technologies, qualities and durability in different sizes and price
range to satisfy the varying tastes of the customers is also attracting new
consumers and thus helping the growth rate of Power Tools Market to rise high.
The convenience and efficiency of Power Tools is also helping in the expansion
of the said market.
Market Restraints
The Power Tools Market has a huge potential. Though it is expanding very fast
day by day, many things are preventing it from using its full potential. Some
of these restraints are–
High prices of the raw materials, high
installation, maintenance and repairing costs, high cost of R&D activities and high transportation and
import costs resulting into high costs of the premium quality end products.
Emission of harmful chemicals and pollutants
during production.
Unavailability of these products in many regions.
Lack of awareness about the availability and
benefits of the Power Tools in the developing
countries.
Availability of substitutes at lower prices.
Opportunities
The Power Tools Sector is expected have huge
opportunities as the governmentally subsidized and funded construction,
industrial and power generating sector is expanding rapidly. The residential
usage of these tools for several DIY works is also making large opportunities
for the expansion of these sector.
Trends
During
the forecast period, Asia Pacific is expected to have the largest share of Power
Tools Market. The demand for these products in the Asia Pacific region is driven by its expanding construction and industrial sector where Power
Tools are used for building infrastructure and repairing. Growing population and
rising disposable income among individuals are also helping the growth. It is also believed that on
the basis of product type, the portable power tools and electric power tools segment
will face the highest growth rate for its relatively low prices, high demand in
residential sectors, efficiency and convenience.
Segment Covered:
This market
intelligence report on the global Power Tools Market encompasses market segments based on tool type, product
type, mode of operation, service type, application, end usage, distributional
channel and country.
By Tool Type
the global Power Tools Market has been divided into:
q Drilling
and Fastening Tools
o
Drills
o
Impact Drivers
o
Impact Wrenches
o
Screwdrivers and Nutrunners
o
Others
q Demolition
Tools
o
Rotary Hammers/ Hammer Drills/ Demolition
Hammers
o
Others
q Sawing
and Cutting Tools
o
Jigsaws
o
Circular Saws
o
Reciprocating Saws
o
Band Saws
o
Sheers and Nibblers
o
Others
q Material
Removal Tools
o
Sanders/ Polishers/ Buffers
o
Grinders
o
Angle Grinders
o
Die and Straight Grinders
q Routing
Tools
o
Routers/ Planers/ Joiners
q Others
By
Product Type the global Power Tools Market has been
divided into:
q Stationary
q Portable
By Mode
of Operation the global Power Tools Market has been
divided into:
q Electric
o
Cordless
o
Corded
q Pneumatic
q Others
(Hydraulic, Power-actuated etc.)
By Service
Type the global Power Tools Market has been
divided into:
q Professional
q Do-it-yourself
q Others
By Application
the global Power Tools Market has been divided into:
q Residential
q Construction
q Automotive
q Aerospace
q Energy
q Ship-building
q Others
By End
Usage the global Power Tools Market has been
divided into:
q Personal
q Commercial
By Distributional
Channel the global Power Tools Market has been
divided into:
q Offline
q Online
q Others
By country/region,
the global Power Tools Market has been divided into:
q North
America (the U.S., Canada),
q Latin
America (Brazil, Mexico, Argentina and other countries),
q Europe
(Germany, France, the U.K., Spain, Italy, Russia, and other countries),
q Asia
Pacific (India, Japan, China, Australia and New Zealand and other countries),
q Middle
East and Africa (GCC, South Africa, Israel and Other countries).
Profiling of Market
Players:
This business
intelligence report offers profiling of reputed companies that are operating in
the market. Companies such as:
q Apex Tool Group, LLC
q Atlas Copco AB
q Bosch
q Emerson Electric Co.
q Hilti Corporation
q Ingersoll-Rand PLC
q KOKI Holdings
q Makita Corporation
q Robert Bosch GmbH
q Snap-on Incorporated
q Stanley Black & Decker, Inc.
q Techtronic Industries Co., Ltd.
others have been
profiled into detail so as to offer a glimpse of the market leaders. Moreover,
parameters such as Power Tools Market related investment & spending and developments by
major players of the market are tracked in this global report.
Report Highlights:
In-depth
analysis of the micro and macro indicators, market trends, and forecasts of
demand is offered by this business intelligence report. Furthermore, the report
offers a vivid picture of the factors that are steering and restraining the
growth of this market across all geographical segments. In addition to that, IGR-Growth
Matrix analysis is also provided in the report so as to share insight of the
investment areas that new or existing market players can take into consideration.
Various analytical tools such as DRO analysis, Porter's five forces analysis
has been used in this report to present a clear picture of the market. The
study focuses on the present market trends and provides market forecast from
the year 2020-2028. Emerging trends that would shape the market demand in the
years to come have been highlighted in this report. A competitive analysis in
each of the geographical segments gives an insight into market share of the
global players.
Few Recent Developments
Makita Corporation
The Japanese power tools manufacturing
company, Makita Corporation has launched a brand new 18V X2 LXT (36V) Cordless
String Trimmer (XRU18), in March, 2020, which is perfect for professional
landscapers to use in aggressive applications like cutting bushes and tall
weeds.
Stanley Black & Decker, Inc.
Situated in USA,
one of the largest power tools manufacturer Stanley Black &
Decker, Inc. has announced the launch of their newest product ATOMIC Compact
Series, a part of the 20V MAX System products in March 2019. The company has
previously introduced some this series products such as 20V MAX Compact Impact
Driver, 20V MAX Compact Drill/Driver, 20V MAX Compact Circular Saw, 20V MAX
Compact Hammer Drill/Driver, 20V MAX Compact Oscillating Multi-Tool etc.
Robert Bosch Gmbh
Headquartered in Germany, the Robert Bosch GmbH had launched
GBH18V-26D 18V EC Brushless 1 In. SDS-plus Bulldog Rotary Hammer with CORE18V
battery in April, 2019. The rotary hammer weighs around 5.8 lbs (tool only) and
delivers approximately 1.9 ft-lbs of impact energy for superior
impact-to-weight ratio and is known for its superior performance in heavy-duty
drilling and chipping applications in concrete.
Salient Features:
Ø
This study offers
comprehensive yet detailed analysis of the Power Tools Market, size of the market (US$ Mn), and Compound Annual Growth
Rate (CAGR (%)) for the period of forecast: 2020-2028, taking into account 2019
as the base year
Ø
It explains upcoming
revenue opportunities across various market segments and attractive matrix of
investment proposition for the said market
Ø
This market
intelligence report also offers pivotal insights about various market opportunities,
restraints, drivers, competitive market strategies of leading market players,
emerging market trends, and regional outlook
Ø
Profiling of
key market players in the world Power Tools Market is done by
taking into account various parameters such as company strategies, distribution
strategies, product portfolio, financial performance, key developments,
geographical presence, and company overview
Ø
The data of
this report would allow management authorities and marketers of companies alike
to take informed decision when it comes to launch of different type of models,
government initiatives, marketing tactics and expansion, and technical up
gradation
Ø
The world
market for Power Tools caters to the needs of various stakeholders pertaining to this
industry, namely suppliers, manufacturers, investors, and distributors for Power
Tools Market. The research
also caters to the rising needs of consulting and research firms, financial
analysts, and new market entrants
Ø
Research
methodologies that have been adopted for the purpose of this study have been
clearly elaborated so as to facilitate better understanding of the reports
Ø
Reports have
been made based on the guidelines as mandated by General Data Protection
Regulation
Ø
Ample number
of examples and case studies have been taken into consideration before coming
to a conclusion
Reasons to buy:
v
Identify
opportunities and plan strategies by having a strong understanding of the investment
opportunities in the Power Tools Market
v
Identification
of key factors driving investment opportunities in the Power Tools Market
v
Facilitate
decision-making based on strong historic and forecast data
v
Position
yourself to gain the maximum advantage of the industry’s growth potential
v
Develop
strategies based on the latest regulatory events
v
Identify key
partners and business development avenues
v
Respond to
your competitors’ business structure, strategy and prospects
v
Identify key
strengths and weaknesses of important market participants