Frequently Asked Questions
The COVID-19 epidemic significantly impacts various industries that touch the tools industry, including automotive, aircraft, shipbuilding, energy, and construction.
Asia Pacific has the highest share of the global power tools market in terms of both value and volume.
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.
In 2021, the electric sector accounted for the greatest power tools market share, with a considerable CAGR projected over the forecast period.
In 2021, the industrial segment will dominate the global market, and this dominance is expected to continue during the forecast period.