According to study, “World
Power Tools Market Research Report 2024 (covering USA, EU, China, South East
Asia, Japan and etc)”
the key companies operating in the world power tools market are Robert Bosch
Tool Corporation, Hilti Corp., Stanley Black & Decker Inc., Hitachi Koki
Co. Ltd., TTI, Snap-on International, Festool (TTS),Kulkarni Power
Tools,Danaher Corp., Techtronic Industries Co. Ltd., Interskol, Husqvarna, FEIN
Power Tools India Pvt. Ltd., Du, Makita Corp., Actuant Corp., Atlas Copco AB, Collomix,
OttoBaier GmbH, Metabo.
A power tool is a tool which is
actuated by an additional power source & mechanism. Power tool includes
electric motors and compressed or internal combustion engines. It also includes
many types of devices from handheld machine drills to hydraulic presses &
pneumatic tools. It is used for various kinds of applications for instance
construction, household tasks, gardening, etc.It is classified as stationary
power tools and portable power tools (hand-held).Stationary power tools have
advantages in speed & precision while portable power tools have advantages
in mobility.
Based on tool type, power tools market is segmented
into demolition tools, drilling & fastening tools, material removal tools,
sawing & cutting tools, routing tools and others. Demolition tools are
further sub-segmented into rotary hammers/hammer drills/demolition hammers.
Drilling & fastening tools are further sub-segmented into drills and
screwdrivers &nutrunners. Material removal tools are further sub-segmented
into grinders (die & straight grinders and angle grinders) and
sanders/polishers or buffers. Sawing & cutting tools are further
sub-segmented into reciprocating saws, band saws, jigsaw, circular saws and
shears & nibblers. Additionally, routing tools are further sub-segmented
into routers/planers or joiners.Based or power sources, market is segmented
into steam engines, direct burning of fuels & propellants (in
powder-actuated tools), and natural power sources (wind or moving water). Based
on raw material, market is segmented into aluminum and steel. Based on mode of
operation, market is segmented into pneumatic (corded electric tools and
cordless tools), electric and others. In addition, based on application, market
is segmented into residential/DIY and industrial or professional (energy,
automotive, construction, aerospace and shipbuilding).
The power tools market is driven by increase in
sales of commercial vehicles, followed by growth in adoption of cordless power
tools, rise in demand for electric fastening tools in industrial environments,
increase in availability of affordable & energy-efficient power tools, rise
in automation & time-efficiency requirements and growth in construction
industry in emerging countries. However, fluctuation in raw material prices,
human safety concerns, high maintenance cost and decline in automotive sales
may impact the market. Moreover, smart connectivity in power tools and connected
power tools for industry are key opportunities for market.
Based on geography, the Asian-Pacific region holds
major share, followed by North-American region in power tools market owing to
rapid increase in the industrialization & urbanization, emergence of
durable, cost-effective multi-functional power tools,increase in consumer
confidence index& online retail sales and growth in the manufacturing
industries & well-established distribution network in the region. Europe is
expected to witness higher growth rate due to rapid growth in the end-use
industries over the forecast period. It is anticipated that the future of the
market will be bright on account of increase in development of low-cost &
energy-efficient tools and growth of smart technologies.
For more information on the research
report, refer to below link:
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