The Power Tools Market is predicted to rise to USD 40,400 million by 2027, witnessing 4.6% CAGR during 2020-2027

Introduction of the Global Power Tools Market Report

Power tools are the tools that are activated by using an additional source of power and mechanism. The most common types of power tools that are present in the market utilize electric motors. These tools are majorly used for construction and various DIY jobs, which includes assembling, production, maintenance, and packaging. The power tools are generally divided into two categories: stationary and portable. The stationary power tools are the large machines that are tightly fastened, which enables them to function properly. The portable power tools are the tools that can be carried easily owing to their lightweight.

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The major factors which are driving the growth of the global power tools market include the increase in the development of infrastructure and expansion in the construction industry across the world. In addition, growth in the demand for electric fastening tools in industries and rising adoption of power tools across several industries such as aerospace, automobile, and energy, among others, are some other factors that are increasing the power tools market size. Various benefits offered by power tools such as the ability to complete the work at high speed, increased effectiveness as compared with the other tools, and saves time are sone other factors that are drastically increasing the demand for such tools in the market. Moreover, the factors propelling the power tools market share during the forecast period include the increase in the research & development activities and growth in technological advancements such as the revolution in battery technology, advent of smart technology, and availability of varieties of cordless power tools in the market worldwide. The factors which are responsible for hindering the growth of the power tools market include the high cost for maintenance of these tools and instability in the prices of raw materials.

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Based on the tool type, the drilling & fastening tools segment is expected to grow at a higher CAGR during the forecast period owing to the increase in the adoption of electric drilling & fastening tools by DIY consumers and professionals. In addition, growing advancements in the drilling technologies is leading to improvement in the characteristics of the power tool such as enhanced durability and high resistance to shock and vibrations which is also a key factor that is propelling the growth of the market in this segment.

Based on the mode of operation, the electric segment is projected to increase at a higher CAGR over the forecast period due to the growth in the demand for electric power tools in the automotive industry owing to its ability to enhance operational efficiency as it saves effort and time needed to perform several operations. Moreover, the rising advancements in battery technology and increasing penetration of cordless tools across residential and industrial users are some other major factors that are fuelling the growth of the market in this segment.

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Based on the region, the Asia-Pacific region is expected to increase at a higher CAGR during the forecast period due to the rising adoption of power tools in this region as a result of rapid expansion in the industrial activities and growing development of infrastructure across several countries like China and India. In addition, rising inclination towards the DIY trend are some other factors fuelling the growth of the market in this region.

Various notable players operating in the market include Robert Bosch Tool Corporation, Stanley Black & Decker, Inc., Hilti Corporation, Makita Corporation, Apex Tool Group, LLC., Atlas Copco, Snap-on Incorporated., Ingersoll-Rand plc, Koki Holdings Co., Ltd., and Emerson Electric Co., among others. 

Key Developments: 

• • In 2020, Makita Corporation launched 8V X2 LXT® (36V) Cordless String Trimmer (XRU18). This string trimmer has a power comparable to a 30cc gas string trimmer and offers increased productivity with the help of a 17″ cutting swath.
  • In 2020, Hilti Corporation launched a suite of 40 new tools, systems, and accessories. This line comprises the most powerful cordless cutting tools in the market, a battery-powered cordless fastening tool, BX-3BT, to assist the customers in completing high-quality installations on time and safely.

The global power tools market segmentation is categorized on the basis of tool type, mode of operation, application, and regions. Based on tool type, the market is segmented into demolition tools, drilling & fastening tools, material removal tools, sawing & cutting tools, routing tools, and others. Based on the mode of operation, the market is segmented into pneumatic, electric, and other tools. Based on application, the market is segmented into industrial/professional and residential/DIY. 

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Key questions answered in this research report:

• • At what pace is the global power tools market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in the power tools market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global power tools market?
  • Which tool type generated maximum revenues in 2019 and identify the most promising tool type during the forecast period?
  • What are the various application areas of the global power tools market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Base Year	2019
Market Forecast Period	2020-2027
Market Revenues (2027)	USD 40,400 Million
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Tool Type, By Mode of Operation, By Application, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	Robert Bosch Tool Corporation, Stanley Black & Decker, Inc., Hilti Corporation, Makita Corporation, Apex Tool Group, LLC., Atlas Copco, Snap-on Incorporated., Ingersoll-Rand plc, Koki Holdings Co., Ltd., and Emerson Electric Co., among others; a total of 10 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Power Tools Market by Tool Type

• • Demolition Tools
  • Drilling & Fastening Tools
  • Material Removal Tools
  • Sawing & Cutting Tools
  • Routing Tools
  • Others

Global Power Tools Market by Mode of Operation

• • Pneumatic
  • Electric
  • Other Tools

Global Power Tools Market by Application

• • Industrial/Professional
  • Residential/DIY

Global Power Tools Market by Region

• • North America Power Tools Market (Option 1: As a part of the free 25% customization)
    • North America Market by Tool Type
    • North America Market by Mode of Operation
    • North America Market by Application
    • US Market All-Up
    • Canada Market All-Up
  • Europe Power Tools Market (Option 2: As a part of the free 25% customization)
    • Europe Market by Tool Type
    • Europe Market by Mode of Operation
    • Europe Market by Application
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific Power Tools Market (Option 3: As a part of the free 25% customization)
    • Asia-Pacific Market by Tool Type
    • Asia-Pacific Market by Mode of Operation
    • Asia-Pacific Market by Application
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up
  • RoW Power Tool Market (Option 4: As a part of the free 25% customization)
    • RoW Market by Tool Type
    • RoW Market by Mode of Operation
    • RoW Market by Application
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating in the Power Tools Market (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Robert Bosch Tool Corporation
  • Stanley Black & Decker, Inc.
  • Hilti Corporation
  • Makita Corporation
  • Apex Tool Group, LLC.
  • Atlas Copco
  • Snap-on Incorporated.
  • Ingersoll-Rand plc
  • Koki Holdings Co., Ltd.
  • Emerson Electric Co.