Power Tools Market Size, Share, Trends and Forecast to 2021
Power Tools Market overview:
Power Tools Marketprojected to reach USD 37 billion in 2026, with growth at a CAGR of 4.6% during the forecast period of 2021-2026. The Drills segment led the market in 2021 and is predicted to remain dominant over the forecast period. Drills are simple to use, smaller than other power devices, and are widely used in manufacturing and household applications. The wrenches segment is anticipated to emerge at a healthy CAGR over the forecast period. Compared to traditional wrenches, the power wrench reduces a lot of time and manual effort in fastening relative to standard wrenches.
Electric mode of operations recorded a significant share of global revenue in 2021. The substantial share is due to the convenience of mobility and the reliability of the operation of electrical tools. Cordless electric mode retained a large share in 2021 and is expected to dominate the demand for power tools over the projected period. Most power tools suppliers are changing their product portfolio and increasing the range of cordless power tools available to their customers.
The industrial application segment held a significant share of revenue. Industrial uses include the use of devices in the manufacturing, construction, aerospace and logistics industries. Although the industrial segment is a major participant, the residential application segment is predicted to have the highest CAGR. Growth is primarily due to the rising trend of the DIY culture.
Asia Pacific recorded the largest market share in 2021. Due to the thriving automotive industry in countries such as India and China, the region is projected to be the highest CAGR in the forecast period. Growing disposable income, rising construction and infrastructure development activities are main factors that affect the growth of the regional market. Europe is expected to see a healthy growth in the future influenced by the growth of the market in Germany and the United Kingdom. The emergence of processing and production plants in several countries of the European Union is boosting market growth. North America is a key player in the market. Growing development of infrastructure and economic growth in the region is boosting the market growth.
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Power Tools Market Table of Content:
1. Preface
1.1 Market Definition and Scope
1.2 Base Currency, Base Year and Forecast Periods
1.3 Key Research Objectives
1.4 Research Highlights
2. General Study Assumptions
3. Research Methodology
3.1 Introduction
3.2 Secondary Research
3.3 Primary Research
3.4 Analysis Design
3.5 Study Timeline
4. Market Dynamics
4.1 Drivers
4.2 Restraints
4.3 Opportunities
4.4 Market Trends
5. Supply Chain Analysis
6. Company Strategy Analysis
6.1 Merger and Acquisition Analysis
6.2 Agreements, Collaborations and Joint Ventures
6.3 Regional Presence
6.4 New Product Launches
7. Market Outlook
7.1 Technological Advancement
7.2 Pricing Analysis
7.3 Epidemiology
7.4 Product Landscape Analysis (Brand Tracking Analysis & Pipeline Analysis)
8. Market Segmentation
8.1 Overview
8.2 Global Power Tools Market, By Tool Type, forecast year 2021-2026
8.2.1 Drilling and fastening tools
8.2.1.1 Drills
8.2.1.2 Impact drivers
8.2.1.3 Impact wrenches
8.2.1.4 Screwdrivers and nutrunners
8.2.2 Demolition tools
8.2.2.1 Rotary hammers/hammer drills/demolition hammers
8.2.3 Sawing and cutting tools
8.2.3.1 Jigsaws
8.2.3.2 Reciprocating saws
8.2.3.3 Circular saws
8.2.3.4 Band saws
8.2.3.5 Sheers and nibblers
8.2.4 Material removal tools
8.2.4.1 Sanders/polishers/buffers
8.2.4.2 Grinders
8.2.4.2.1 Angle grinders
8.2.4.2.2 Die and straight grinder
8.2.5 Routing Tools
8.2.5.1 Â Routers/planers/joiners
8.2.6 Others (measuring and layout tools, laser tools, dust extractors, glue guns, and heat guns)
8.2.7 Market Size Estimations & Forecasts (2021-2026)
8.2.8 Y-o-Y Growth Analysis
8.2.9 Market Investment Opportunities Analysis
8.3 Global Power Tools Market, By Mode of Operation, forecast year 2021-2026
8.3.1 Electric
8.3.1.1 Corded
8.3.1.2 Cordless
8.3.2 Pneumatic
8.3.3 Others (Hydraulic and Power-actuated)
8.3.4 Market Size Estimations & Forecasts (2021-2026)
8.3.5 Y-o-Y Growth Analysis
8.3.6 Market Investment Opportunities Analysis
8.4 Global Power Tools Market, By Application, forecast year 2021-2026
8.4.1 Industrial
8.4.1.1 Construction
8.4.1.2 Automotive
8.4.1.3 Aerospace
8.4.1.4 Energy
8.4.1.5 Shipbuilding
8.4.1.6 Others
8.4.2 Residential/DIY
8.4.3 Market Size Estimations & Forecasts (2021-2026)
8.4.4 Y-o-Y Growth Analysis
8.4.5 Market Investment Opportunities Analysis
9. Market Regional and Country Analysis, Forecast 2021-2026
9.1 Overview
9.2 Regional Trends
9.3 Impact Analysis
9.4 Key Findings
9.5 Global Power Tools Market, Â by Region, 2021-2026
9.5.1 By Tools Type
9.5.2 By Mode of Operation
9.5.3 By Application
10. Competitive Landscape Analysis
10.1 Market Player
10.1.1 Company Revenue
10.1.2 Business unit
10.1.3 Product Mapping
10.1.4 Geographical Locations
10.2 Company Share Analysis
11. Strategic Analysis
11.1 PESTLE analysis
11.2 Porter’s Five analysis
11.2.1 Bargaining Power of Suppliers
11.2.2 Bargaining Power of Consumers
11.2.3 Threat of New Entrants
11.2.4 Threat of Substitute Products and Services
11.2.5 Competitive Rivalry within the Industry
12. Company Profiles
12.1 Atlas Copco AB (Sweden)
12.1.1 Overview
12.1.2 Product Portfolio
12.1.3 Financial Details
12.1.4 SWOT Analysis
12.1.5 Market Strategies
12.2 Apex Tool Group, LLC (US)
12.3 Robert Bosch GmbH (Germany)
12.4 Hilti Corporation (Liechtenstein)
12.5 Makita Corporation (Japan)
12.6 Ingersoll-Rand plc (Ireland)
12.7 Stanley Black & Decker, Inc. (US)
12.8 Techtronic Industries Co., Ltd. (Hong Kong)
12.9 KOKI Holdings (Japan)
12.10 Snap-on Incorporated (US)
13. Market Guidance
14. Appendix