What is Power Tools Market?
Power tools are operated with the help of electricity or battery that are widely used to perform complex tasks like drilling, cutting, etc. The adoption of power tools has been increasing across the globe as industries are looking to complete tasks quickly and easily. Power tools like drills are commonly used for household applications and the construction industry that will create significant opportunities for the market. Further, compared to manual tools, power tools are more precise the user doesn’t require any specific skill and performs the job with comfort of mind.
Highlights from Power Tools Market Study
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Unit | Value (USD Million) |
Key Companies Profiled | Robert Bosch Tool Corporation (United States), DEWALT (United States), XTRA POWER (India), Koki Holdings Co., Ltd. (Japan), Stryker Corporation (United States), JCB (United Kingdom), Black+Decker Inc. (United States), KPT Industries (India), FERM (Netherlands), Carborundum Universal Ltd (India), Makita (India), Craftsman (United States), Hilti (India), Porter-Cable (United States) and Neutron Power Tools (India) |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Research Analyst at AMA predicts that United States and Indian Manufacturers will contribute to the maximum growth of Global Power Tools market throughout the forecasted period.
Robert Bosch Tool Corporation (United States), DEWALT (United States), XTRA POWER (India), Koki Holdings Co., Ltd. (Japan), Stryker Corporation (United States), JCB (United Kingdom), Black+Decker Inc. (United States), KPT Industries (India), FERM (Netherlands), Carborundum Universal Ltd (India), Makita (India), Craftsman (United States), Hilti (India), Porter-Cable (United States) and Neutron Power Tools (India) are some of the key players profiled in the study. Power Tools Market Segmentation:
Scope | Sub-Segments |
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Application / End User | Household, Industrial, Gardening, Construction, Surgical Applications and Others |
Type | Drills, Saws, Sanders, Grinders and Others |
Power Source | Electric,Pneumatic,Battery Operated |
Sales Channel | Online,Offline |
On the basis of geography, the market of Power Tools has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increased Focus on the Development of Power Tools with Long Battery Life
Market Growth Drivers:
Increasing Demand of Power Tools Across Various End-Use Industries to Replace With Conventional Tools
Challenges:
High Maintenance and High Risk of Injury If it does not Handle Properly
Restraints:
High Cost Associated with the Power Tools Compared to Hand Tools May Limit the Growth
Opportunities:
Growing Popularity of Cordless and Battery Operated Power Tools Among Consumers
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Power Tool Manufacturers, Suppliers and Distributors, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations, End-User Industries and Others
In 2020, Bosch Power Tools, a global leader in the power tool segment launched smart cordless measuring tools, GLM 150 C, GLL 30 G, GTC 400 C for on-the-go professionals in India. GTC 400 C is an intuitive cordless power tool that allows users immediate thermographic inspection of temperatures onsite. With this launch, the main aim of the company is to meet the increasing demand for a cordless range of power tools across India.