The study covers a detailed analysis segmented by key business segments i.e. by type (Hand Tools, Power Tools, Garage Tools, Lighting Tools and Personal Protective Equipment) , by application (Industrial, Commercial and Household) and major geographies. Research Analyst at AMA predicts that United States Manufacturers will contribute to the maximum growth of Global Portable Tools market throughout the predicted period.
What is Portable Tools?
Portable tools are hand-held, lightweight, and easy to carry from one place to another. It is designed for a wide variety of industrial, commercial, and household applications. Tools are either manually operated or power operated that offer high level of precision and reduce the time taken for the work. However, cordless power tools can be used in any area of operation.
The competition is expected to become even more intense in the years to come due to entry of several new players in the market. To help clients improve their revenue shares in the market, this research study provides an in-depth analysis of the markets competitive landscape and offers information on the products offered by various leading companies. Additionally, this Portable Tools market analysis report suggests strategies Manufacturers can follow and recommends key areas they should focus on, in order to take maximum benefits of growth opportunities.
The report offers several leading Manufacturers, including:
- Panasonic (Japan)
- Atlas Copco (Sweden)
- Emerson Electric (United States)
- Apex Tool Group (United States)
- Robert Bosch (Germany)
- Channellock (United States)
- General Tools & Instruments (Worthington Industries) (United States)
- Stanley Black & Decker (United States)
- Kennametal (United States)
- Klein Tools (United States)
- Irwin Tools (United States)
In June 2019, Bosch launched its range of cordless power tools powered by lithium-ion batteries. The range includes cordless screwdrivers, drill drivers, high-power impact wrenches, robust hammer drills, high-speed impact drills, flexible drill drivers, and more. According to the company, new tools will boost convenience to the workers 4X compared to the existing power tools.
The key manufacturers are targeting the innovations of the products with better quality, better technical characteristics, and also assist in providing and humanizing the after-sale service to the consumers. The key players are probable to keep a stronghold on the market over the anticipated period. The key players are accepting strategic decisions and are thinking upon mergers and acquisitions in order to maintain their presence in the market
Implementation of R&D Activities to Bolster Tool Strength & Lifespan and New Product Development
- Hand Tools are Slow and Take Time to Finish Work Compared to Power
Growing Demand of Power Tools in the US Due to Increasing Home Improvement Activity
Key highlights of the Global Portable Tools market Study:
CAGR of the market during the forecast period 2020-2026
In-depth information on growth factors that will accelerate the Portable Tools market in next few years.
Detailed Insights on futuristic trends and changing consumer behaviour
Forecast of the Global Portable Tools market size and its contribution to the parent market by type, application and by country.
A broad view of customer demand
Uncover markets competitive landscape and in-depth information on various Manufacturers
Comprehensive information about factors that will challenge the growth of Portable Tools Manufacturers
Transformation and Important Trigegrs:
Business transformation has taken hold across the broad corporate landscape due to the confluence of several important triggers, including:
A tipping point in globalization
A major slowdown in Western economies
Significant shifts in technology and cost structure
The challenges of regulatory compliance
New forms of competition developing
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Portable Tools market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Portable Tools market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment> by targeting key target audience that includes New Entrants/Investors, Analysts and Strategic Business Planners, Portable Tools Manufacturers, Suppliers and Distributors of Portable Tools, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations, End-Users and Others.
This helps us to gather the data for the players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, Annual reports, press releases etc.