Published by Uma Rajagopal
Posted on January 20, 2022
The global power tools market is expanding at a significant rate on the back of consumer inclination towards cordless power tools. This is anticipated to remain the key defining factor in the power tool market. As per Future Market Insights (FMI) analysis the global power tools market is expected to be reach US$ 33.36 Bn in 2021. The demand is expected to soar as construction activities surge around the world. According to FMI, construction applications will account for maximum sales in the market through the forecast period. Besides this, the rising trend of do-it-yourself activities will fuel sales opportunities for the market.
The global power tools market size is expected to reach US$ 33.36 Bn in 2021. Increasing sales of cordless power tools will drive growth in the power tools demand by 5.1% CAGR between 2021 and 2031.
Request a free sample to obtain authentic analysis and comprehensive market insights at- https://www.futuremarketinsights.com/reports/sample/rep-gb-760
As per the latest Future Market Insights (FMI) analysis, demand for electric power tools and portable power tools will rise exponentially in the coming years. Soaring application in automotive, construction, aerospace, and other industries also will create demand for handheld and pneumatic power tools.
The report also predicts power tools sales to constitute nearly 7% to 8% of the global tooling industry.
The COVID-19 pandemic has severely affected the global economy. Resulting in manufacturing plants shutdowns, coupled with supply chain disruptions owing to nationwide lockdowns across the globe, subsequently resulting in the plunge in the power tools market growth. However, the market is expected to recover sharply as the economic activities resume post the containment of pandemic. Manufacturers are focusing on scaling up their production capabilities with improved production rate creating positive prospected for the power tools market growth.
“The power tools market is witnessing a strong growth trend, attributing to increasing demand from various end use industries. Key industry participants are focusing on developing partnerships with regional distributors in order to gain a competitive advantage in the evolving global market. To comply with the advent of online sales channel, adoption of e-commerce will create extensive opportunities for market participants during the forecast period.” says FMI analyst.
Discover more about report analysis with figures and data tables, along with the table of contents. Ask an Analyst- https://www.futuremarketinsights.com/ask-question/rep-gb-760
Key Takeaways of Global Power tool Market Study
Competitive Landscape
The power tools market is a highly competitive market, led by global players offering cost-competitive products. Some of the players are focusing to carve a niche for specific demography. Market players have left an indelible impact with their astute business expansion strategies and robust product offerings. Many of these players are focusing on product launches.
For instance:
Contact Sales for Further Assistance in Purchasing this Report- https://www.futuremarketinsights.com/checkout/760
Some of the leading companies operating in the market are:
Explore FMI’s Extensive ongoing Coverage on Industrial Automation Domain
Oil and Gas Fittings Market: Future Market Insights (FMI) has forecasted the global Oil and Gas Fittings Market to register year-on-year growth of 3.2% in 2022 reaching a value of about US$ 1,326.8 Mn by 2022 end.
Oil & Gas Valves Market: The global oil & gas valves market is expected to surpass US$ 12.5 Bn by the end of 2022. Demand for oil & gas valves in the global market is projected to surge at 3.5% CAGR during the forecast period 2022-2029.
Carbon Brush Market: Sales in the global carbon brush market are slated to top US$ 2.7 Bn in 2022. Expanding at a healthy 3.8% CAGR, the market size is projected to total US$ 3.6 Bn by 2029.
Contact Us:
Future Market Insights
Unit No: AU-01-H Gold Tower (AU), Plot No: JLT-PH1-I3A,
Jumeirah Lakes Towers, Dubai,
United Arab Emirates
For Sales Enquiries: sales@futuremarketinsights.com
For Media Enquiries: press@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
The global power tools market is expanding at a significant rate on the back of consumer inclination towards cordless power tools. This is anticipated to remain the key defining factor in the power tool market. As per Future Market Insights (FMI) analysis the global power tools market is expected to be reach US$ 33.36 Bn in 2021. The demand is expected to soar as construction activities surge around the world. According to FMI, construction applications will account for maximum sales in the market through the forecast period. Besides this, the rising trend of do-it-yourself activities will fuel sales opportunities for the market.
The global power tools market size is expected to reach US$ 33.36 Bn in 2021. Increasing sales of cordless power tools will drive growth in the power tools demand by 5.1% CAGR between 2021 and 2031.
Request a free sample to obtain authentic analysis and comprehensive market insights at- https://www.futuremarketinsights.com/reports/sample/rep-gb-760
As per the latest Future Market Insights (FMI) analysis, demand for electric power tools and portable power tools will rise exponentially in the coming years. Soaring application in automotive, construction, aerospace, and other industries also will create demand for handheld and pneumatic power tools.
The report also predicts power tools sales to constitute nearly 7% to 8% of the global tooling industry.
The COVID-19 pandemic has severely affected the global economy. Resulting in manufacturing plants shutdowns, coupled with supply chain disruptions owing to nationwide lockdowns across the globe, subsequently resulting in the plunge in the power tools market growth. However, the market is expected to recover sharply as the economic activities resume post the containment of pandemic. Manufacturers are focusing on scaling up their production capabilities with improved production rate creating positive prospected for the power tools market growth.
“The power tools market is witnessing a strong growth trend, attributing to increasing demand from various end use industries. Key industry participants are focusing on developing partnerships with regional distributors in order to gain a competitive advantage in the evolving global market. To comply with the advent of online sales channel, adoption of e-commerce will create extensive opportunities for market participants during the forecast period.” says FMI analyst.
Discover more about report analysis with figures and data tables, along with the table of contents. Ask an Analyst- https://www.futuremarketinsights.com/ask-question/rep-gb-760
Key Takeaways of Global Power tool Market Study
Competitive Landscape
The power tools market is a highly competitive market, led by global players offering cost-competitive products. Some of the players are focusing to carve a niche for specific demography. Market players have left an indelible impact with their astute business expansion strategies and robust product offerings. Many of these players are focusing on product launches.
For instance:
Contact Sales for Further Assistance in Purchasing this Report- https://www.futuremarketinsights.com/checkout/760
Some of the leading companies operating in the market are:
Explore FMI’s Extensive ongoing Coverage on Industrial Automation Domain
Oil and Gas Fittings Market: Future Market Insights (FMI) has forecasted the global Oil and Gas Fittings Market to register year-on-year growth of 3.2% in 2022 reaching a value of about US$ 1,326.8 Mn by 2022 end.
Oil & Gas Valves Market: The global oil & gas valves market is expected to surpass US$ 12.5 Bn by the end of 2022. Demand for oil & gas valves in the global market is projected to surge at 3.5% CAGR during the forecast period 2022-2029.
Carbon Brush Market: Sales in the global carbon brush market are slated to top US$ 2.7 Bn in 2022. Expanding at a healthy 3.8% CAGR, the market size is projected to total US$ 3.6 Bn by 2029.
Contact Us:
Future Market Insights
Unit No: AU-01-H Gold Tower (AU), Plot No: JLT-PH1-I3A,
Jumeirah Lakes Towers, Dubai,
United Arab Emirates
For Sales Enquiries: sales@futuremarketinsights.com
For Media Enquiries: press@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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