Power Tools Market Size, Share, Growth Report 2030

The global Power Tools market, which was estimated at was valued at approximately USD 27 billion in 2018 and is predicted to accrue earnings worth USD 36 billion by 2025, is set to record a CAGR of nearly 4.14% over 2018-2025. The report offers valuation and analysis of Power Tools market on a global as well as regional level. The study offers a comprehensive assessment of the industry competition, limitations, sales estimates, avenues, current & emerging trends, and industry-validated market data. The report offers historical data from 2016 to 2019 along with a forecast from 2020 to 2026 based on value (USD Billion).

Introduction

Massive DIY technique trends are gaining prominence across the globe and this has resulted in the growing popularity of the power tools in the recent times. In addition to this, power tools have found plethora of applications across automotive and construction industries. Moreover, the time-saving ability of the power tools has increased its demand for performing repetitive tasks like sawing and screw driving. Apart from this, rapidly expanding industrial infrastructure facility and refurbishment of concrete structures within a specific timespan needs used of advanced tools, thereby facilitating the growth of the power tools industry over the forthcoming years. In addition to this, power tools reduce the physical work and enhance the operational efficiency of the production units and this will contribute majorly towards the business growth in the foreseeable future.

Market Growth Dynamics

Prominent use of the power tools in wind turbines to reduce maintenance costs & construction charges will prompt the market surge over the ensuing years. In addition to this, increase in the utilization of electric power tools and production of energy efficient power systems have culminated into huge market demand in the recent years. Moreover, high labor charges in the emerging economies have forced the firms in the manufacturing industry to optimize the use of power tools for increasing the proficiency of the business operations as well as enhance the productivity of material handing instruments. This, in turn, will help the power tools market flourish over the coming decade. Nonetheless, huge costs of the power tools will restraint the expansion of the market in the near future. However, massive use of power tools in the aerospace & aviation sector as well as defense sector will protrude the growth of power tolls business across the globe over the forthcoming years. Apparently, rapid industrialization has further added to the market size in the recent years.

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Europe To Account Sizably Towards Overall Market Revenue By 2026

The swift expansion of the market in the European continent over the estimated timeline can be attributed to surge in the DIY activities in the residential & commercial sectors. Apparently, the escalating use of cordless electric power systems in the countries like Germany, France, Russia, Italy, and UK will contribute notably towards the regional market proceeds in the ensuing years. Surge in urbanization and thriving online retailing activities in the region will further pave a way for marked growth of the industry in the continent over the forecasting years.

Key players contributing massively towards the growth of the Power Tools Market and profiled in our study include Atlas Copco, Hilti, hGears, Robert Bosch, Ingersoll-Rand, Stanley Black & Decker, Techtronic Industries, Makita, Apex Tool Group, and C. & E. Fein.

This report segments the global power tools market into:

Global Power Tools Market: Mode Analysis

• Electric
  • Corded
  • Cordless
• Pneumatic
• Others

Global Power Tools Market: Tool Type Analysis

• Drilling and Fastening
• Sawing
• Demolition
• Material Removal

Global Power Tools Market: Application Analysis

• Construction
• Automotive
• Aerospace
• DIY
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa