Power Tools Market Analysis by Size, Business Strategies, Growth, Competitive Landscape and Development Forecast by 2030

0

Emerging research logo

Growing demand for power fastening tools across industrial sectors is a key driver for the power tools market revenue growth

Power tools 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 »

— Emerging research

VANCOUVER, BC, CANADA, Sept. 6, 2022 /EINPresswire.com/ — The global power tools market size was USD 25.79 billion in 2021 and is expected to register a CAGR of 4.5% during the forecast period , according to the latest analysis from Emerging Research. The growth of construction and manufacturing industries, especially in emerging countries, and the increasing use of cordless power tools are some of the key factors driving the market revenue growth.

The increasing use of various types of cordless power tools such as hammer drills, saw blades, impact wrenches, staplers, and nail guns is contributing to the rapid growth of the market. The growing need for more adaptable, flexible and compact tools is increasingly driving the demand for cordless power tools. Traditional nickel-cadmium (Ni-Cd) and nickel-metal hydride (Ni-MH) batteries are being replaced by lithium batteries in power tools.

Get Sample Report @ https://www.emergenresearch.com/request-sample/1096

Additionally, rapid advancements in battery technology have led to an increase in the use of high-density batteries in cordless power tools, allowing for longer run time after each recharge. On April 13, 2022, Makita USA, Inc., which is a leading manufacturer of high-quality professional tools and accessories, expanded its cordless woodworking solutions with 18V LXT 1/ 3 sheet (model XOB03). The sander is designed to provide the power and performance of a corded but cordless version and powered by an efficient brushless motor, allowing for a convenient wood finishing solution for the user.

The latest research report titled “Global Power Tools Market – Forecast to 2030″ includes a comprehensive review of the current and future trends of the global power tools market. The report gathers viable information about the most established industry players, sales and distribution channels, regional spectrum, estimated market share and size, and revenue estimates over the forecast period. The study includes an in-depth analysis of this sphere of activity focusing on overall market compensation over the projected period.

Request Report Discount @ https://www.emergenresearch.com/request-discount/1096

The report also discusses key players involved in the market such as 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. and others as well as new market entrants. The competitive analysis also includes a regional analysis of major geographic regions. The report covers regions such as North America, Europe, Asia-Pacific, Latin America, Middle East and Africa.

Report Highlights

The electric segment accounted for a large share of revenue in 2021 due to the ease of flexibility and efficient operation of power tools. The introduction of powerful batteries has led to an increasing demand for power tools. Power tools are used in industries such as automotive, construction, aerospace, and energy due to various benefits such as better performance, speed, efficiency, accuracy, and convenience. Rapid urbanization and industrialization are some of the factors that are increasing the demand for power tools.

The drill segment accounted for a major share of revenue in 2021. Electric drilling and fastening equipment is used by professionals and do-it-yourselfers (do-it-yourselfers). Drills are used in residential and industrial applications because they are easy to use and more economical than other electrical equipment. Growing demand for drills as the primary maintenance and repair equipment is also another factor contributing to the growth of the market.

The industrial segment accounted for the largest share of revenue in 2021. Increase in technical innovation and implementation of advanced technologies by these industries is expected to drive the revenue growth of the segment. The rapid evolution towards the use of power tools as well as various innovations, such as brushless motor technology, which offers less friction, longer motor life, less voltage drops and better performance are some of the major factors that are increasing the demand for power tools in manufacturing and construction plants.

Emergen Research has segmented the global power tools market based on mode of operation, product, application, and region:

Mode of Operation Outlook (Revenue, USD Billion; 2019-2030)

Electric

Wireless

Wired

Pneumatic

Others

Product Outlook (Revenue, USD Billion; 2019-2030)

Keys

Grinders

Drills

Saws

Others

Application Outlook (Revenue, USD Billion; 2019-2030)

Industrial

Residential

To know more about the report @ https://www.emergenresearch.com/industry-report/power-tools-market

Key questions answered by the report:

Which region is expected to dominate the market in the coming years?

What are the recent technological and product advancements in the market?

What are the key strategies adopted by the leading Power Tools market players?

What are the main product types and applications of the power tool industry?

What is the result of the SWOT analysis and Porter’s five forces analysis?

How is the Competitive Landscape of the Power Tools Market?

Who are the major players in the industry?

What is the growth rate of the industry in the coming years?

What will be the valuation of the power tools market by 2030?

Request Report Customization @ https://www.emergenresearch.com/request-for-customization/1096

Thank you for reading the research report. For more information about custom report and customization plan, please contact us and we will provide you with the well-suited custom report.

Take a look at our other reports:

Top 10 Companies in the Global Sunscreen Market

https://www.emergenresearch.com/blog/top-10-companies-in-the-global-sun-protection-market

Top 9 NFT Companies Ruling the Cryptocurrency Market

https://www.emergenresearch.com/blog/top-9-nft-companies-that-are-ruling-the-cryptocurrency-market

Key Companies in the Basic Materials Market

https://www.emergenresearch.com/blog/top-10-companies-offering-high-performance-core-materials-for-industrial-applications

5G in the best companies in the defense market

https://www.emergenresearch.com/blog/worlds-top-10-companies-offering-5g-services-in-the-defense-sector

Top Companies in the Business Transcription Market

https://www.emergenresearch.com/blog/worlds-top-10-companies-offering-top-notch-business-transcription-services

About Us:

At Emergen Research, we believe in advancing with technology. We are building a market research and strategy consulting firm with an extensive knowledge base on cutting-edge and potentially market-disrupting technologies that are expected to become more prevalent over the next decade.

Read Full Press Release @ https://www.emergenresearch.com/press-release/global-power-tools-market

Eric Lee
Emerging research
+91 90210 91709
[email protected]
Visit us on social media:
Facebook
Twitter
LinkedIn



Source link

Share.

Comments are closed.