Published by Uma Rajagopal
Posted on January 6, 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 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.
Get a Sample Copy of Report: https://www.futuremarketinsights.com/reports/sample/rep-gb-760
Key Takeaways of Global Power tool Market Study
“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.
Global Power tool Market Competitive Landscape
The global power tools market is highly competitive market owing to presence large number of global and regional players operating in the market. Manufacturers are focusing on research and development for innovative improvements in their product portfolio, expansion in untapped markets coupled with developing their business via e-commerce platforms to gain competitive edge. Some of the leading manufacturers of power tool market are Robert Bosch GmbH, Stanley Black & Decker Inc., Makita Corporation, Techtronic Industries Company Limited, Koki Holding, Co., Ingersoll Rand Inc., Apex Tools, Hilti Corporation, Snap-on Incorporated, among others.
Request a Complete TOC of this Report with figures: https://www.futuremarketinsights.com/toc/rep-gb-760
Valuable Insights into Global Power Tools Market
Future Market Insights, in its new offering, provides an unbiased analysis of the global power tools market, presenting historical demand data (2015-2019) and forecast statistics for the period from 2020-2030. The study divulges compelling insights on the power tools market based on backing product type (drilling tools, fastening tool, heat gun, angle grinder, chain saw, orbital sander, jigsaw, impact wrench, circular saw), technology (electric and pneumatic), application (manufacturing, MRO services, DRO, construction), and sales channel (offline and online) across six regions (North America, Latin America, Europe, East Asia, South Asia, and the Middle East and Africa).
Why is Electric Technology More in Demand?
Electric and pneumatic are currently the leading technologies available, of which the demand for the former has been surging at a higher pace. The advent of cordless technology is expected to fuel growth opportunities within the market. Some of the leading players such as Bosch, Milwaukee, Hitachi, and others include cordless power tools in their portfolios.
Also driven by surging demand, they are increasingly investing in the launch of advanced technologies, which will ultimately fuel demand within the electric category. For instance, Bosch has recently launched cordless power tools in-built with lithium-ion batteries in June 2019. According to FMI, over 6 out of 10 power tools sold will be from the electric category in 2021.
Ask Us Your Questions About This Report: https://www.futuremarketinsights.com/ask-question/rep-gb-760
Explore FMI’s Extensive Coverage on Industrial Automation Domain
Industrial Hose Assemblies Market: Global sales of industrial hose assemblies are forecast to exceed US$ 37,556.7 Mn by 2022-2028, at a CAGR of 6.8%.
Pressure Reducing Valve Market: The global pressure reducing valve market enjoys a valuation of US$ 1,998.1 Mn in 2022, and is predicted to expand at a steady CAGR of 4.5% and reach a net worth of US$ 2,588 Mn by the end of 2028.
Tool Holders Market: The global Tool Holders Market is anticipated to witness a considerable value CAGR of 5.4% during the period of 2022 and 2028
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
Contact:
Corporate Headquarter
Future Market Insights,
1602-6 Jumeirah Bay X2 Tower,
Plot No: JLT-PH2-X2A,
Jumeirah Lakes Towers, Dubai,
United Arab Emirates
For Sales Enquiries: sales@futuremarketinsights.com
For Media Enquiries: press@futuremarketinsights.com
Website: https://www.futuremarketinsights.com/
Report: https://www.futuremarketinsights.com/reports/power-tools-market
Press Release Source: https://www.futuremarketinsights.com/press-release/power-tools-market
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 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.
Get a Sample Copy of Report: https://www.futuremarketinsights.com/reports/sample/rep-gb-760
Key Takeaways of Global Power tool Market Study
“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.
Global Power tool Market Competitive Landscape
The global power tools market is highly competitive market owing to presence large number of global and regional players operating in the market. Manufacturers are focusing on research and development for innovative improvements in their product portfolio, expansion in untapped markets coupled with developing their business via e-commerce platforms to gain competitive edge. Some of the leading manufacturers of power tool market are Robert Bosch GmbH, Stanley Black & Decker Inc., Makita Corporation, Techtronic Industries Company Limited, Koki Holding, Co., Ingersoll Rand Inc., Apex Tools, Hilti Corporation, Snap-on Incorporated, among others.
Request a Complete TOC of this Report with figures: https://www.futuremarketinsights.com/toc/rep-gb-760
Valuable Insights into Global Power Tools Market
Future Market Insights, in its new offering, provides an unbiased analysis of the global power tools market, presenting historical demand data (2015-2019) and forecast statistics for the period from 2020-2030. The study divulges compelling insights on the power tools market based on backing product type (drilling tools, fastening tool, heat gun, angle grinder, chain saw, orbital sander, jigsaw, impact wrench, circular saw), technology (electric and pneumatic), application (manufacturing, MRO services, DRO, construction), and sales channel (offline and online) across six regions (North America, Latin America, Europe, East Asia, South Asia, and the Middle East and Africa).
Why is Electric Technology More in Demand?
Electric and pneumatic are currently the leading technologies available, of which the demand for the former has been surging at a higher pace. The advent of cordless technology is expected to fuel growth opportunities within the market. Some of the leading players such as Bosch, Milwaukee, Hitachi, and others include cordless power tools in their portfolios.
Also driven by surging demand, they are increasingly investing in the launch of advanced technologies, which will ultimately fuel demand within the electric category. For instance, Bosch has recently launched cordless power tools in-built with lithium-ion batteries in June 2019. According to FMI, over 6 out of 10 power tools sold will be from the electric category in 2021.
Ask Us Your Questions About This Report: https://www.futuremarketinsights.com/ask-question/rep-gb-760
Explore FMI’s Extensive Coverage on Industrial Automation Domain
Industrial Hose Assemblies Market: Global sales of industrial hose assemblies are forecast to exceed US$ 37,556.7 Mn by 2022-2028, at a CAGR of 6.8%.
Pressure Reducing Valve Market: The global pressure reducing valve market enjoys a valuation of US$ 1,998.1 Mn in 2022, and is predicted to expand at a steady CAGR of 4.5% and reach a net worth of US$ 2,588 Mn by the end of 2028.
Tool Holders Market: The global Tool Holders Market is anticipated to witness a considerable value CAGR of 5.4% during the period of 2022 and 2028
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
Contact:
Corporate Headquarter
Future Market Insights,
1602-6 Jumeirah Bay X2 Tower,
Plot No: JLT-PH2-X2A,
Jumeirah Lakes Towers, Dubai,
United Arab Emirates
For Sales Enquiries: sales@futuremarketinsights.com
For Media Enquiries: press@futuremarketinsights.com
Website: https://www.futuremarketinsights.com/
Report: https://www.futuremarketinsights.com/reports/power-tools-market
Press Release Source: https://www.futuremarketinsights.com/press-release/power-tools-market
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