The global power tools market is set to grow to $48.7 billion by 2027, driven by technological advancements and increased automation in various industries.
The global power tools market has observed substantial growth in the past few years, due to the rise in investment in various end-user industries such as construction, energy, mining,and others.A number of power tool manufacturers are expanding their businesses all over the globe, due to rise in customer base, higher effective operations,expandedgeographical reach, andtechnologically advanced product portfolios. This is anticipated to fuel the demand for the power tools
The global power tools market size was $32.7 billion in 2019, and is projected to reach $48.7 billion by 2027, registering a CAGR of 4.8% from 2020 to 2027.
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Power tools have varied applications in non-residential and residential sectors. There has been a growth in theapplication of power tools,which is facilitated by work efficiency attained through the use of advanced sensors to analyze and execute tasks with minimum errors. There is an increase in thedevelopment of the global power tools market, due to boost in trend of automation empoweringgreater returns on investments (ROI) and cost optimization.
Top 10 Key Market Players
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Key Market Segments
By Mode Of Operation
By Tool Type
By Application
By Region
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The article discusses the growth of the global power tools market, projected to reach $48.7 billion by 2027.
Technological advancements and increased automation in industries are key drivers of market growth.
Key players include Atlas Copco, Emerson Electric, Hilti Corporation, and others.
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