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Power Tools Market By Product (Drills, Saws, Wrenches, Grinders, Sanders, Others) By Mode of Operation (Electric, Pneumatic, Others) By Application (Industrial, Residential) – Growth, Share, Opportunities & Competitive Analysis, 2016 – 2028

Name: Power Tools Market - Demand, Size and Competitive Analysis
Creator: Credence Research Inc.
Published: 2022-07-29
License: https://www.credenceresearch.com/info/privacy-policy
Keywords: Power Tools Market

Summary
Table Of Content
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What is the Global Consumption of Power Tools?

Commercial power tools were consumed more than 271 million units globally in 2020. By 2027, the number of units sold is expected to exceed 384.6 million. The Asia Pacific dominated global market consumption in 2021, with India leading the charge. Factors such as the developing construction industry in emerging nations and the increasing need for electric fastening tools in the industrial environment are driving the expansion of the power tools market.

What is the Market Size of Power Tools in terms of value?

Global Power Tools Market is projected to increase at a significant CAGR of 5.5% in the coming years. In 2021, the global power tools market was valued at USD 33.8 Billion and is projected to reach at the value of USD 46.6 Billion by 2028. The demand for power tools is projected to increase substantially in the coming years. It is presumed to generate revenue opportunities for the key industry players worth USD 12.8 billion during the forecast period between 2022 and 2028.

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What is the Price Trends for Power Tools?

The price of power tools has increased immensely in the last five years, starting from approximately USD 13.94 per unit in May 2016 to USD 78 per unit in November 2021. This is majorly due to price fluctuations of raw materials. Steel, plastic, rubber, and copper are among the raw materials used in power tools. However, due to shifting economic dynamics, the prices of these basic resources have constantly been fluctuating in recent years.

Interesting Facts about Power Tools Industry

The top 5 countries for power tools exports are Japan, Germany, Ireland, China, and United States.
The top 5 importers of power tools are Portugal, Germany, China, Singapore, and Slovakia.
The growth of the power tools market is being fueled by factors such as the burgeoning construction sector in emerging countries and the growing demand for electric fastening tools in the industrial environment.
The continual fluctuation in raw material prices is a major impediment to market growth. Steel, plastic, rubber, and copper are among the raw materials used in power tools. Due to shifting economic dynamics, the prices of these basic resources have constantly been fluctuating in recent years.
In 2021, the Asia Pacific region dominated the global power tools market in terms of volume and value, which is expected to continue over the forecast period.
The industrial application will have the highest share in the forecast period. Power tools are in high demand in several industries, including automotive and construction.

Who are the Top 10 players/companies in the power tools market in terms of value and volume?

The key players in the global power tools market in value and volume include Emerson Electric, Co.; Hilti Corporation; Ingersoll-Rand PLC; Koki Holdings Co., Ltd.; Makita Corporation; Robert Bosch; Stanley Black & Decker; and Techtronic Industries. These major players are focusing on new product development and technological innovation to improve their power tools production and achieve a competitive market share on a global scale. Furthermore, some regional and country-level players are significantly investing in expanding their product variety and increasing sales. For instance, in October 2021, Eastman and Stanley Black & Decker, Inc. formed cooperation to promote sustainability in the power tool sector. As a result, BLACK+DECKER, a Stanley Black & Decker brand, will launch reviva, a new product line that will feature the brand’s first sustainability-focused power tools made using Eastman’s Tritan Renew copolyester. In addition, Robert Bosch Power Tools GmbH also announced the addition of 12V and 18V cordless sanders to its comprehensive product portfolio of woodworking and wood cutting solutions in September 2021, the GEX12V-5 Brushless 5 In.

Who are the Top 10 Countries in the Power Tools Market?

The major countries in the global power tools market are China, India, the U.S., Canada, Mexico, the U.K., Germany, France, Japan, Italy, Russia, and Africa. India is expected to grow fastest in the market, outperforming the rest of the world’s emerging markets. One of the primary causes for the development of the market in the country is favorable government policies aimed at boosting manufacturing sector capabilities across the country. In addition, growing investments by Indian tool manufacturers in research and development operations to produce unique products boost regional market growth.

Which is the Key Application Area in the Power Tools Market?

In 2021, the industrial application accounted for more than 63.0% of total revenue. Using tools in industries such as construction, aerospace, automotive and logistics are examples of industrial applications. Industrial applications have a significant advantage over residential applications due to greater technological innovation and the acceptance of modern technologies in these areas. For example, power tools are most commonly used in the automotive and construction industries, which is fueling the industrial segment’s rise.

The residential application segment is anticipated to grow at the fastest rate of 5.2 percent between 2022 and 2028, despite the industrial segment being the largest stakeholder. The rise can largely be ascribed to the growing popularity of DIY culture. A major driver in the rapid proliferation of residential applications is the widespread availability of user-friendly and simple-to-operate power tools. In addition, the use of power tools in the residential sector is increasing as renovation and remodeling projects grow.

What are the Major Driving Factors for Power Tools Market?

Over the forecast period, demand for power tools is expected to rise due to increased adoption in the automotive and construction industries. Fastening jobs abound on automotive production and assembly lines. Power tools can help you save time and boost efficiency by minimizing the time spent on these repetitious operations. As a result, car manufacturers and automotive repair and maintenance service providers are increasingly using power tools. Similarly, the construction industry’s increased usage of drills, sanders, wrenches and other tools is increasing the demand for these products. In addition, because of their ease of use and mobility, power tools are becoming more popular in domestic applications.

The growing popularity of Do-It-Yourself (DIY) projects has led to an increase in demand from consumers. As a result, companies are developing products with additional safety measures to cater to the needs of customers who are not trained, professionals. For instance, Bosch Protection features like the rotary hammer drill’s rotation control clutch and the angle grinder restart protection are included in Bosh Power Tools. These attributes help to decrease product-related harm risks and increase the acceptance of power tools for use in domestic settings. Another aspect impacting market expansion is technological advances. In order to increase the effectiveness of their products, businesses are introducing technologically advanced ones. For instance, the Flexvolt battery from Dewalt automatically adjusts the voltage according to the tool it is connected to. An automatic voltage switch assists in manually regulating the power before using various corded power tools. Similarly, Bosch Power Tools released the X-Lock angle grinder lock interface in January 2019. The grinder wheel change system ejects wheels with merely a pull of a lever, reducing the need for other equipment.

What are the Major Restraints for Power Tools Market?

Raw material price fluctuations are a significant factor influencing industry growth. Steel, metal, and aluminum are common materials used to make these instruments. These resources are typically imported from other nations, and currency rates and market volatility influence price swings. As a result, the market’s expansion is hampered by continuous price fluctuations in raw materials.

Which Region Dominated the World Power Tools Market?

In terms of value, the Asia Pacific region holds the greatest share of the worldwide Power Tools market in 2021, accounting for 38.1 percent. The Asia Pacific has established itself as the most powerful and fastest-growing region on the planet. The demand for these technologies grows in lockstep with rising industry, infrastructure expansion, and urbanization. In addition, the growing number of Chinese players taking control of the industry and offering tools at reasonable prices would help growth. Furthermore, India is predicted to expand significantly in the market. For instance, regional market trends are being aided by rising investments by Indian tool manufacturers in research and development activities to develop novel products. To encourage tool manufacture and subsequent sales in the region, governments in some states are offering attractive incentives to set up manufacturing R&D facilities in their jurisdictions. In addition, the regional market is expected to grow at a reasonable rate due to growing automotive production clusters and substantial development in the construction industry.

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During the projected period, Europe and North America are expected to increase at a stable pace. These areas are considered to be mature, and as a result, they are unlikely to see significant building spending. Similarly, due to the consistent growth of the industrial sector, Latin America is predicted to grow at a very low rate. The market is also expected to benefit from the Middle East and Africa. It is mostly due to increased industrialization in the construction, electricity and energy, and oil and gas industries. Furthermore, numerous players see these areas as prospective expansion zones for their business portfolios.

Segmentation of Global Power Tools Market-

Global Power Tools Market – By Product

Drills
Saws
Wrenches
Grinders
Sanders
Others

Global Power Tools Market – By Mode of Operation

Electric
Pneumatic
Others

Global Power Tools Market – By Application

Industrial
Residential

1. Preface
1.1. Report Description
1.1.1. Purpose of the Report
1.1.2. Target Audience
1.1.3. USP and Key Offerings
1.2. Research Scope
1.3. Research Methodology
1.3.1. Phase I – Secondary Research
1.3.2. Phase II – Primary Research
1.3.3. Phase III – Expert Panel Review
1.3.4. Approach Adopted
1.3.4.1. Top-Down Approach
1.3.4.2. Bottom-Up Approach
1.3.5. Assumptions
1.4. Market Segmentation

2. Executive Summary
2.1. Market Snapshot: Global Power Tools Market

3. Market Dynamics & Factors Analysis
3.1. Introduction
3.1.1. Global Power Tools Market Value, 2016-2028, (US$ Bn)
3.2. Market Dynamics
3.2.1. Key Growth Trends
3.2.2. Major Industry Challenges
3.2.3. Key Growth Pockets
3.3. Attractive Investment Proposition,2021
3.3.1. Mode of Operation
3.3.2. Application
3.3.3. Product
3.4. Porter’s Five Forces Analysis
3.4.1. Threat of New Entrants
3.4.2. Bargaining Power of Buyers/Consumers
3.4.3. Bargaining Power of Suppliers
3.4.4. Threat of Substitute Types
3.4.5. Intensity of Competitive Rivalry
3.5. Value Chain Analysis

4. Market Positioning of Key Players, 2021
4.1. Company market share of key players, 2021
4.2. Top 6 Players
4.3. Top 3 Players
4.4. Major Strategies Adopted by Key Players

5. COVID 19 Impact Analysis
5.1. Global Power Tools Market Pre Vs Post COVID 19, 2019 – 2028
5.2. Impact on Import & Export
5.3. Impact on Demand & Supply

6. North America
6.1. North America Power Tools Market, by Country, 2016-2028(US$ Bn)
6.1.1. U.S.
6.1.2. Canada
6.1.3. Mexico
6.2. North America Power Tools Market, by Mode of Operation, 2016-2028(US$ Bn)
6.2.1. Overview
6.2.2. Electric
6.2.3. Pneumatic
6.2.4. Others
6.3. North America Power Tools Market, by Application, 2016-2028(US$ Bn)
6.3.1. Overview
6.3.2. Industrial
6.3.3. Residential
6.3.4. Others
6.4. North America Power Tools Market, by Product, 2016-2028(US$ Bn)
6.4.1. Overview
6.4.2. Drills
6.4.3. Saws
6.4.4. Wrenches
6.4.5. Grinders
6.4.6. Sanders
6.4.7. Other

7. Europe
7.1. Europe Power Tools Market, by Country, 2016-2028(US$ Bn)
7.1.1. UK
7.1.2. France
7.1.3. Germany
7.1.4. Italy
7.1.5. Russia
7.1.6. Ukraine
7.1.7. Spain
7.1.8. Belgium
7.1.9. Netherland
7.1.10. Austria
7.1.11. Sweden
7.1.12. Poland
7.1.13. Denmark
7.1.14. Switzerland
7.1.15. Rest of Europe
7.2. Europe Power Tools Market, by Mode of Operation, 2016-2028(US$ Bn)
7.2.1. Overview
7.2.2. Electric
7.2.3. Pneumatic
7.2.4. Others
7.3. Europe Power Tools Market, by Application, 2016-2028(US$ Bn)
7.3.1. Overview
7.3.2. Industrial
7.3.3. Residential
7.3.4. Others
7.4. Europe Power Tools Market, by Product, 2016-2028(US$ Bn)
7.4.1. Overview
7.4.2. Drills
7.4.3. Saws
7.4.4. Wrenches
7.4.5. Grinders
7.4.6. Sanders
7.4.7. Other

8. Asia Pacific
8.1. Asia Pacific Power Tools Market, by Country, 2016-2028(US$ Bn)
8.1.1. China
8.1.2. Japan
8.1.3. South Korea
8.1.4. India
8.1.5. Australia
8.1.6. New Zealand
8.1.7. Taiwan
8.1.8. Indonesia
8.1.9. Malaysia
8.1.10. Philippine
8.1.11. Rest of Asia Pacific
8.2. Asia Pacific Power Tools Market, by Mode of Operation, 2016-2028(US$ Bn)
8.2.1. Overview
8.2.2. Electric
8.2.3. Pneumatic
8.2.4. Others
8.3. Asia Pacific Power Tools Market, by Application, 2016-2028(US$ Bn)
8.3.1. Overview
8.3.2. Industrial
8.3.3. Residential
8.3.4. Others
8.4. Asia Pacific Power Tools Market, by Product, 2016-2028(US$ Bn)
8.4.1. Overview
8.4.2. Drills
8.4.3. Saws
8.4.4. Wrenches
8.4.5. Grinders
8.4.6. Sanders
8.4.7. Other

9. Latin America
9.1. Latin America Power Tools Market, by Country, 2016-2028(US$ Bn)
9.1.1. Brazil
9.1.2. Argentina
9.1.3. Peru
9.1.4. Chile
9.1.5. Colombia
9.1.6. Rest of Latin America
9.2. Latin America Power Tools Market, by Mode of Operation, 2016-2028(US$ Bn)
9.2.1. Overview
9.2.2. Electric
9.2.3. Pneumatic
9.2.4. Others
9.3. Latin America Power Tools Market, by Application, 2016-2028(US$ Bn)
9.3.1. Overview
9.3.2. Industrial
9.3.3. Residential
9.3.4. Others
9.4. Latin America Power Tools Market, by Product, 2016-2028(US$ Bn)
9.4.1. Overview
9.4.2. Drills
9.4.3. Saws
9.4.4. Wrenches
9.4.5. Grinders
9.4.6. Sanders
9.4.7. Other

10. Middle East
10.1. Middle East Power Tools Market, by Country, 2016-2028(US$ Bn)
10.1.1. UAE
10.1.2. KSA
10.1.3. Israel
10.1.4. Turkey
10.1.5. Iran
10.1.6. Rest of Middle East
10.2. Middle East Power Tools Market, by Mode of Operation, 2016-2028(US$ Bn)
10.2.1. Overview
10.2.2. Electric
10.2.3. Pneumatic
10.2.4. Others
10.3. Middle East Power Tools Market, by Application, 2016-2028(US$ Bn)
10.3.1. Overview
10.3.2. Industrial
10.3.3. Residential
10.3.4. Others
10.4. Middle East Power Tools Market, by Product, 2016-2028(US$ Bn)
10.4.1. Overview
10.4.2. Drills
10.4.3. Saws
10.4.4. Wrenches
10.4.5. Grinders
10.4.6. Sanders
10.4.7. Other
11. Africa

11.1. Africa Power Tools Market, by Country, 2016-2028(US$ Bn)
11.1.1. South Africa
11.1.2. Egypt
11.1.3. Nigeria
11.1.4. Rest of Africa
11.2. Africa Power Tools Market, by Mode of Operation, 2016-2028(US$ Bn)
11.2.1. Overview
11.2.2. Electric
11.2.3. Pneumatic
11.2.4. Others
11.3. Africa Power Tools Market, by Application, 2016-2028(US$ Bn)
11.3.1. Overview
11.3.2. Industrial
11.3.3. Residential
11.3.4. Others
11.4. Africa Power Tools Market, by Product, 2016-2028(US$ Bn)
11.4.1. Overview
11.4.2. Drills
11.4.3. Saws
11.4.4. Wrenches
11.4.5. Grinders
11.4.6. Sanders
11.4.7. Other

12. Global
12.1. Global Power Tools Market, by Mode of Operation, 2016-2028(US$ Bn)
12.1.1. Overview
12.1.2. Electric
12.1.3. Pneumatic
12.1.4. Others
12.2. Global Power Tools Market, by Application, 2016-2028(US$ Bn)
12.2.1. Overview
12.2.2. Industrial
12.2.3. Residential
12.2.4. Others
12.3. Global Power Tools Market, by Product, 2016-2028(US$ Bn)
12.3.1. Overview
12.3.2. Drills
12.3.3. Saws
12.3.4. Wrenches
12.3.5. Grinders
12.3.6. Sanders
12.3.7. Other

13. Company Profiles
13.1. Emerson Electric, Co.
13.2. Hilti Corporation
13.3. Ingersoll-Rand PLC
13.4. Koki Holdings Co., Ltd.
13.5. Makita Corporation
13.6. Robert Bosch
13.7. Stanley Black & Decker
13.8. Techtronic Industries
13.9. Others

List of Figures

FIG. 1 Global Power Tools Market: Research Methodology
FIG. 2 Market Size Estimation – Top Down & Bottom up Approach
FIG. 3 Global Power Tools Market Segmentation
FIG. 4 Global Power Tools Market, by Type, 2019 (US$ Bn)
FIG. 5 Global Power Tools Market, by Mode of Operation, 2019 (US$ Bn)
FIG. 6 Global Power Tools Market, by Product, 2019 (US$ Bn)
FIG. 7 Global Power Tools Market, by Application, 2021 (US$ Bn)
FIG. 8 Global Power Tools Market, by Geography, 2021 (US$ Bn)
FIG. 9 Attractive Investment Proposition, by Geography, 2021
FIG. 10 Global Market Positioning of Key Power Tools Market Manufacturers, 2019
FIG. 11 Global Power Tools Market Value Contribution, By Application, 2021 & 2028 (Value %)
FIG. 12 Global Power Tools Market, by Industrial, Value, 2016-2028 (US$ Bn)
FIG. 13 Global Power Tools Market, by Residential, Value, 2016-2028 (US$ Bn)
FIG. 14 Global Power Tools Market Value Contribution, By Mode of Operation, 2021 & 2028 (Value %)
FIG. 15 Global Power Tools Market, by Electric, 2016-2028 (US$ Bn)
FIG. 16 Global Power Tools Market, by Pneumatic, Value, 2016-2028 (US$ Bn)
FIG. 17 Global Power Tools Market, by Others, Value, 2016-2028 (US$ Bn)
FIG. 18 Global Power Tools Market Value Contribution, By Product, 2021 & 2028 (Value %)
FIG. 19 Global Power Tools Market, by Drills, 2016-2028 (US$ Bn)
FIG. 20 Global Power Tools Market, by Saws, 2016-2028 (US$ Bn)
FIG. 21 Global Power Tools Market, by Wrenches, 2016-2028 (US$ Bn)
FIG. 22 U.S. Power Tools Market, 2016-2028 (US$ Bn)
FIG. 23 Rest of North America Power Tools Market, 2016-2028 (US$ Bn)
FIG. 24 U.K. Power Tools Market, 2016-2028 (US$ Bn)
FIG. 25 Germany Power Tools Market, 2016-2028 (US$ Bn)
FIG. 26 France Power Tools Market, 2016-2028 (US$ Bn)
FIG. 27 Italy Power Tools Market, 2016-2028 (US$ Bn)
FIG. 28 Spain Power Tools Market, 2016-2028 (US$ Bn)
FIG. 29 Russia Power Tools Market, 2016-2028 (US$ Bn)
FIG. 30 BENELUX Power Tools Market, 2016-2028 (US$ Bn)
FIG. 31 Poland Power Tools Market, 2016-2028 (US$ Bn)
FIG. 32 Austria Power Tools Market, 2016-2028 (US$ Bn)
FIG. 33 Rest of Europe Power Tools Market, 2016-2028 (US$ Bn)
FIG. 34 Japan Power Tools Market, 2016-2028 (US$ Bn)
FIG. 35 China Power Tools Market, 2016-2028 (US$ Bn)
FIG. 36 India Power Tools Market, 2016-2028 (US$ Bn)
FIG. 37 South Korea Power Tools Market, 2016-2028 (US$ Bn)
FIG. 38 Australia Power Tools Market, 2016-2028 (US$ Bn)
FIG. 39 Southeast Asia Power Tools Market, 2016-2028 (US$ Bn)
FIG. 40 Rest of Asia Pacific Power Tools Market, 2016-2028 (US$ Bn)
FIG. 41 Middle East & Africa Power Tools Market, 2016-2028 (US$ Bn)
FIG. 42 South Africa Power Tools Market, 2016-2028 (US$ Bn)
FIG. 43 Nigeria Power Tools Market, 2016-2028 (US$ Bn)
FIG. 44 Egypt Power Tools Market, 2016-2028 (US$ Bn)
FIG. 45 GCC Power Tools Market, 2016-2028 (US$ Bn)
FIG. 46 Israel Power Tools Market, 2016-2028 (US$ Bn)
FIG. 47 Latin America Power Tools Market, 2016-2028 (US$ Bn)
FIG. 48 Mechanicalzil Power Tools Market, 2016-2028 (US$ Bn)
FIG. 49 Argentina Power Tools Market, 2016-2028 (US$ Bn)
FIG. 50 Colombia Power Tools Market, 2016-2028 (US$ Bn)
FIG. 51 Peru Power Tools Market, 2016-2028 (US$ Bn)
FIG. 52 Chile Power Tools Market, 2016-2028 (US$ Bn)

List Of Tables

TABLE 1 Market Snapshot: Global Power Tools Market
TABLE 2 Global Power Tools Market, by Type, 2016-2028 (US$ Bn)
TABLE 3 Global Power Tools Market, by Application, 2016-2028 (US$ Bn)
TABLE 4 Global Power Tools Market, by Mode of Operation, 2016-2028 (US$ Bn)
TABLE 5 Global Power Tools Market, by Product, 2016-2028 (US$ Bn)
TABLE 6 Global Power Tools Market, by Geography, 2016-2028 (US$ Bn)
TABLE 7 North America Power Tools Market, by Type, 2016-2028 (US$ Bn)
TABLE 8 North America Power Tools Market, by Application, 2016-2028 (US$ Bn)
TABLE 9 North America Power Tools Market, by Mode of Operation, 2016-2028 (
TABLE 10 North America Power Tools Market, by Product, 2016-2028 (US$ Bn)
TABLE 11 North America Power Tools Market, by Country, 2016-2028 (US$ Bn)
TABLE 12 Europe Power Tools Market, by Type, 2016-2028 (US$ Bn)
TABLE 13 Europe Power Tools Market, by Application, 2016-2028 (US$ Bn)
TABLE 14 Europe Power Tools Market, by Mode of Operation, 2016-2028 (US$ Bn)
TABLE 15 Europe Power Tools Market, by Product, 2016-2028 (US$ Bn)
TABLE 16 Europe Power Tools Market, by Country/Region, 2016-2028 (US$ Bn)
TABLE 17 Asia Pacific Power Tools Market, by Type, 2016-2028 (US$ Bn)
TABLE 18 Asia Pacific Power Tools Market, by Application, 2016-2028 (US$ Bn)
TABLE 19 Asia Pacific Power Tools Market, by Mode of Operation, 2016-2028 (US$ Bn)
TABLE 20 Asia Pacific Power Tools Market, by Product, 2016-2028 (US$ Bn)
TABLE 21 Asia Pacific Power Tools Market, by Country/Region, 2016-2028 (US$ Bn)
TABLE 22 Latin America Power Tools Market, by Type, 2016-2028 (US$ Bn)
TABLE 23 Latin America Power Tools Market, by Application, 2016-2028 (US$ Bn)
TABLE 24 Latin America Power Tools Market, by Mode of Operation, 2016-2028 (US$ Bn)
TABLE 25 Latin America Power Tools Market, by Product, 2016-2028 (US$ Bn)
TABLE 26 Latin America Power Tools Market, by Country/Region, 2016-2028 (US$ Bn)
TABLE 27 Middle East Power Tools Market, by Type, 2016-2028 (US$ Bn)
TABLE 28 Middle East Power Tools Market, by Application, 2016-2028 (US$ Bn)
TABLE 29 Middle East Power Tools Market, by Mode of Operation, 2016-2028 (US$ Bn)
TABLE 30 Middle East Power Tools Market, by Product, 2016-2028 (US$ Bn)
TABLE 31 Middle East Power Tools Market, by Country/Region, 2016-2028 (US$ Bn)
TABLE 32 Africa Power Tools Market, by Type, 2016-2028 (US$ Bn)
TABLE 33 Africa Power Tools Market, by Application, 2016-2028 (US$ Bn)
TABLE 34 Africa Power Tools Market, by Mode of Operation, 2016-2028 (US$ Bn)
TABLE 35 Africa Power Tools Market, by Product, 2016-2028 (US$ Bn)
TABLE 36 Africa Power Tools Market, by Country/Region, 2016-2028 (US$ Bn)

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Frequently Asked Questions

How does COVID-19 Impact the global power tools market?

The COVID-19 epidemic significantly impacts various industries that touch the tools industry, including automotive, aircraft, shipbuilding, energy, and construction.

Which is the leading market for power tools?

Asia Pacific has the highest share of the global power tools market in terms of both value and volume.

What are the key drivers for the growth of the power tools market?

The power tools market’s growth is fueled by factors such as the burgeoning construction sector in emerging countries and the growing demand for electric fastening tools in the industrial environment. In the near future, the development of smart and connected power tools and the increased usage of fastening tools in the wind energy industry are expected to drive power tool demand.

Which is the major segment in Power Tools Market by Mode of Operation?

In 2021, the electric sector accounted for the greatest power tools market share, with a considerable CAGR projected over the forecast period.

Which is the major segment in Power Tools Market by Application?

In 2021, the industrial segment will dominate the global market, and this dominance is expected to continue during the forecast period.

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The automotive chip market size was valued at USD 58028 million in 2024 and is anticipated to reach USD 133727.7 million by 2032, at a CAGR of 11 % during the forecast period (2024-2032).

Hardware Storage Market

The hardware storage market size was valued at USD 102501.2 million in 2024 and is anticipated to reach USD 229493.3 million by 2032, at a CAGR of 10.6 % during the forecast period (2024-2032).

Retrofitting Services Market

The retrofitting services market size was valued at USD 133553.2 million in 2024 and is anticipated to reach USD 243920.8 million by 2032, at a CAGR of 7.82 % during the forecast period (2024-2032).

Manual Lifting Mobile Light Tower Market

Manual Lifting Mobile Light Tower Market size was valued at USD 3972.6 million in 2024 and is anticipated to reach USD 5959.4 million by 2032, at a CAGR of 5.2% during the forecast period.

Glass to Metal Seals Market

The glass to metal seals market is projected to grow from USD 1,190.6 million in 2024 to USD 1,855.1 million by 2032, registering a CAGR of 5.7% during the forecast period.

Fiber Optics Testing Market

The fiber optics testing market is projected to grow from USD 971.7 million in 2024 to USD 1,620.3 million by 2032, registering a CAGR of 6.6% during the forecast period.

Business Process RE Engineering Market

The Business Process RE Engineering Market size was valued at in 2024 and is anticipated to reach USD 25313.7 million by 2032, at a CAGR of 9.4% during the forecast period (2024-2032).

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What people say?

Thank you for the data! The numbers are exactly what we asked for and what we need to build our business case.

Materials Scientist
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The report was an excellent overview of the Industrial Burners market. This report does a great job of breaking everything down into manageable chunks.

Imre Hof
Management Assistant, Bekaert